Axalta Coating Systems Ltd (AXTA)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 656,500 | 319,800 | 334,200 | 192,500 | 337,100 |
| Revenue | US$ in thousands | 5,184,100 | 4,884,400 | 4,416,200 | 3,737,600 | 4,482,200 |
| Gross profit margin | 12.66% | 6.55% | 7.57% | 5.15% | 7.52% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $656,500K ÷ $5,184,100K
= 12.66%
Axalta Coating Systems Ltd's gross profit margin has exhibited fluctuations over the past five years. In 2019 and 2020, the company achieved relatively stable gross profit margins of 34.90% and 34.24%, respectively. However, there was a noticeable decline in 2021, with the gross profit margin dropping to 32.36%. This trend continued in 2022, as the margin decreased further to 29.05%.
Notably, there was a slight improvement in 2023, with the gross profit margin rising to 31.22%. Despite this increase, the company has not yet reached the levels seen in the earlier years. It may be essential for Axalta Coating Systems Ltd to carefully assess its cost structure, pricing strategies, and revenue mix to enhance its gross profit margin in the future and ensure sustainable profitability.
Peer comparison
Dec 31, 2023