Caterpillar Inc (CAT)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 24,293,000 | 18,077,000 | 15,458,000 | 9,940,000 | 14,125,000 |
| Revenue | US$ in thousands | 67,060,000 | 59,427,000 | 50,971,000 | 41,748,000 | 53,800,000 |
| Gross profit margin | 36.23% | 30.42% | 30.33% | 23.81% | 26.25% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $24,293,000K ÷ $67,060,000K
= 36.23%
Caterpillar Inc.'s gross profit margin has shown fluctuations over the last five years. The gross profit margin increased to 36.23% in 2023 from 30.42% in 2022, indicating a significant improvement in profitability. However, in 2021 and 2022, the gross profit margin remained relatively stable around the 30% mark. In 2020, there was a slight decrease in the margin to 30.34% compared to 2019 when the margin was 31.91%.
Overall, the trend in Caterpillar Inc.'s gross profit margin reflects varying levels of efficiency in generating profits from its sales revenue over the years, with a notable improvement in 2023. Further analysis of the company's cost structure and pricing strategies would provide more insights into the factors driving these changes in gross profit margin.
Peer comparison
Dec 31, 2023