ChampionX Corporation (CHX)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,139,640 | 898,664 | 743,275 | 409,172 | 377,104 |
| Revenue | US$ in thousands | 3,758,280 | 3,805,950 | 3,074,990 | 1,900,000 | 1,131,250 |
| Gross profit margin | 30.32% | 23.61% | 24.17% | 21.54% | 33.34% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,139,640K ÷ $3,758,280K
= 30.32%
ChampionX Corp.'s gross profit margin has fluctuated over the past five years, ranging from a low of 21.54% in 2020 to a high of 33.34% in 2019. The company's gross profit margin increased from 2019 to 2020, then decreased in 2021 before showing an increase again in 2022 and 2023. This indicates that ChampionX Corp. has experienced varying levels of profitability from its core business operations over the years. The improvement in the gross profit margin from 2022 to 2023 suggests that the company may have been successful in controlling its direct costs related to production or sourcing of goods. However, further analysis of the underlying factors contributing to these changes would be necessary to fully understand the drivers of the company's gross profit margin performance.
Peer comparison
Dec 31, 2023