Avery Dennison Corp (AVY)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 2,277,500 | 2,404,200 | 2,312,800 | 1,923,300 | 1,904,100 |
| Revenue | US$ in thousands | 8,245,300 | 8,955,200 | 8,343,800 | 6,901,500 | 6,984,600 |
| Gross profit margin | 27.62% | 26.85% | 27.72% | 27.87% | 27.26% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $2,277,500K ÷ $8,245,300K
= 27.62%
Avery Dennison Corp's gross profit margin has shown some fluctuations over the past five years. The margin has ranged from 26.85% in 2019 to 27.87% in 2020, with a slight decrease to 27.62% in 2023. The company's ability to generate gross profit has remained relatively stable, hovering around the mid to high 20% range. Despite the minor variations, Avery Dennison Corp has generally maintained a healthy gross profit margin, indicating efficient cost management and pricing strategies in its operations.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
Avery Dennison Corp
AVY
27.62%
Kimberly-Clark Corporation
KMB
34.47%