Astec Industries Inc (ASTE)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 330,800 | 264,100 | 249,500 | 237,600 | 239,400 |
| Revenue | US$ in thousands | 1,332,400 | 1,271,800 | 1,095,400 | 1,030,400 | 1,167,370 |
| Gross profit margin | 24.83% | 20.77% | 22.78% | 23.06% | 20.51% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $330,800K ÷ $1,332,400K
= 24.83%
The gross profit margin of Astec Industries Inc. has shown a generally increasing trend over the past five years. It improved from 20.47% in 2019 to 24.72% in 2023. This indicates that the company has been able to effectively manage its cost of goods sold in relation to its revenue, resulting in a higher percentage of each sales dollar retained as gross profit. The increasing trend suggests improving operational efficiency and potentially better pricing strategies. Astec Industries Inc. has demonstrated an ability to enhance its profitability through effective cost control measures and revenue generation efforts.
Peer comparison
Dec 31, 2023