Allegion PLC (ALLE)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 548,200 | 457,600 | 455,400 | 315,300 | 435,700 |
| Revenue | US$ in thousands | 3,553,800 | 3,186,000 | 2,820,400 | 2,668,100 | 2,763,400 |
| Gross profit margin | 15.43% | 14.36% | 16.15% | 11.82% | 15.77% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $548,200K ÷ $3,553,800K
= 15.43%
Allegion plc's gross profit margin has shown some fluctuations over the past five years. In 2023, the gross profit margin improved to 43.32%, a significant increase from the previous year's margin of 40.42%. This suggests that the company generated a higher percentage of revenue as gross profit in 2023.
Comparing the current gross profit margin to historical data, it is lower than the margins reported in 2020 and 2019, which were 43.34% and 43.88%, respectively. However, it is still higher than the margin in 2021, which was 42.02%.
Overall, the trend in Allegion plc's gross profit margin indicates some variability but generally demonstrates a stable performance in converting revenue into gross profit over the past five years. Further analysis of the company's cost structure and pricing strategies may provide insights into the factors influencing these fluctuations in the gross profit margin.