The Andersons Inc (ANDE)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 745,363 | 684,164 | 592,697 | 366,197 | 460,767 |
| Revenue | US$ in thousands | 14,750,100 | 17,325,400 | 12,612,000 | 8,064,620 | 8,003,250 |
| Gross profit margin | 5.05% | 3.95% | 4.70% | 4.54% | 5.76% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $745,363K ÷ $14,750,100K
= 5.05%
The gross profit margin of Andersons Inc. has fluctuated over the past five years. In 2023, it increased to 5.05% from 3.95% in 2022, showing an improvement in the company's ability to generate profits from its core operations. However, the margin is still below the levels seen in 2019 when it was at 6.34%. The company experienced a dip in gross profit margin in 2021 to 4.70% but has since been able to make some progress in 2022 and 2023.
Overall, Andersons Inc. should continue to monitor and potentially improve its gross profit margin to ensure efficient cost management and maintain profitability in the long term. Further analysis of the underlying factors affecting the gross profit margin, such as cost control, pricing strategies, and product mix, would provide valuable insights for management decision-making.
Peer comparison
Dec 31, 2023