American Axle & Manufacturing (AXL)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 624,300 | 704,900 | 722,700 | 582,700 | 902,600 |
| Revenue | US$ in thousands | 6,079,500 | 5,802,400 | 5,156,600 | 4,710,800 | 6,530,900 |
| Gross profit margin | 10.27% | 12.15% | 14.02% | 12.37% | 13.82% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $624,300K ÷ $6,079,500K
= 10.27%
The gross profit margin of American Axle & Manufacturing Holdings Inc has undergone fluctuations in recent years. The trend indicates a decline from 13.82% in 2019 to 10.27% in 2023. This decrease suggests potential challenges in maintaining profitability levels, which could be attributed to factors such as changes in cost structures, pricing strategies, or operational inefficiencies.
The year 2021 stood out with a gross profit margin of 14.02%, showing a positive performance compared to adjacent years. However, the subsequent decline in 2022 and 2023 calls for further investigation into the company's cost of goods sold, revenue generation, and overall operating efficiency.
Overall, the declining trend in the gross profit margin of American Axle & Manufacturing Holdings Inc over the past five years may warrant management's attention to address underlying issues and implement strategies to improve profitability in the future.
Peer comparison
Dec 31, 2023