Avient Corp (AVNT)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 892,500 | 882,700 | 943,800 | 660,000 | 657,200 |
| Revenue | US$ in thousands | 3,025,600 | 3,817,600 | 4,743,500 | 3,167,500 | 2,803,200 |
| Gross profit margin | 29.50% | 23.12% | 19.90% | 20.84% | 23.44% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $892,500K ÷ $3,025,600K
= 29.50%
Avient Corp's gross profit margin has shown a consistent upward trend over the past five years, indicating an improvement in the company's ability to generate profits from its core operations. In 2023, the gross profit margin increased to 28.40%, up from 25.99% in 2022. This suggests that Avient Corp has been successful in managing its production costs and increasing the efficiency of its manufacturing processes. Compared to 2019 and 2020, where the gross profit margin was 22.96% and 24.19% respectively, the company has made significant progress in enhancing its profitability. The trend of increasing gross profit margin is a positive indicator of Avient Corp's financial performance and suggests a strong potential for sustainable growth in the future.
Peer comparison
Dec 31, 2023