Compass Minerals International Inc (CMP)

Gross profit margin

		Sep 30, 2023	Sep 30, 2022	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Gross profit	US$ in thousands	233,900	196,800	219,800	232,500	183,900
Revenue	US$ in thousands	1,155,100	1,200,100	946,700	1,408,800	1,436,900
Gross profit margin		20.25%	16.40%	23.22%	16.50%	12.80%

September 30, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $233,900K ÷ $1,155,100K
= 20.25%

The gross profit margin of Compass Minerals International Inc has exhibited variability over the past five years. In 2023 and 2022, the gross profit margin increased to 19.42% and 15.82%, respectively, from the previous year. However, the margins were lower compared to those of 2020 and 2019, which were 21.87% and 22.60%, respectively. The lowest margin during the period was reported in 2018 at 19.68%.

This trend suggests some inconsistency in the company's ability to generate profits from its core business activities. Factors such as changes in input costs, pricing strategies, and production efficiencies may have contributed to these fluctuations. It would be crucial to further analyze the company's cost structure and pricing dynamics to understand the drivers behind the changes in gross profit margins.