CH Robinson Worldwide Inc (CHRW)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	15,349,300	22,150,100	20,810,900	14,322,400	13,373,600
Revenue	US$ in thousands	17,596,400	24,696,600	23,102,100	16,207,100	15,309,500
Gross profit margin		87.23%	89.69%	90.08%	88.37%	87.35%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $15,349,300K ÷ $17,596,400K
= 87.23%

C.H. Robinson Worldwide, Inc.'s gross profit margin has shown some fluctuations over the past five years. The trend indicates a gradual decrease in the gross profit margin from 16.89% in 2019 to 14.80% in 2023. The company's ability to generate revenue after deducting the cost of goods sold has slightly declined, which may raise concerns about its operational efficiency and pricing strategies. Further analysis of the factors influencing the cost of sales and pricing policies would be necessary to understand the drivers behind these changes in the gross profit margin.