Smith AO Corporation (AOS)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,484,800 | 1,329,600 | 1,310,900 | 1,108,200 | 1,180,700 |
| Revenue | US$ in thousands | 3,840,800 | 3,744,500 | 3,534,600 | 2,888,000 | 2,981,700 |
| Gross profit margin | 38.66% | 35.51% | 37.09% | 38.37% | 39.60% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,484,800K ÷ $3,840,800K
= 38.66%
The gross profit margin of A.O. Smith Corp. has fluctuated over the past five years, ranging from 35.42% in December 2022 to 39.45% in December 2019. The trend indicates a general decline in the gross profit margin from 2019 to 2022 before a slight increase in 2023. This suggests that the company's profitability from sales revenue after accounting for the cost of goods sold has experienced some level of variability over the years. It would be important to further investigate the reasons behind these fluctuations to understand the factors impacting the company's gross profit margin performance.
Peer comparison
Dec 31, 2023