Campbell’s Co (CPB)
Gross profit margin
| Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Jul 28, 2024 | Apr 30, 2024 | Apr 28, 2024 | Jan 31, 2024 | Jan 28, 2024 | Oct 31, 2023 | Oct 29, 2023 | Jul 31, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 31, 2023 | Jan 29, 2023 | Oct 31, 2022 | Oct 30, 2022 | Jul 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 3,129,000 | 3,116,000 | 2,483,000 | 2,386,000 | 1,786,000 | 1,870,000 | 2,113,000 | 2,169,000 | 2,280,000 | 2,160,000 | 2,134,000 | 2,014,000 | 2,395,000 | 2,107,000 | 2,629,000 | 2,414,000 | 2,226,000 | 2,169,000 | 2,000,000 | 2,216,000 |
| Revenue (ttm) | US$ in thousands | 10,253,000 | 10,225,000 | 10,043,000 | 9,727,000 | 9,324,000 | 9,487,000 | 9,650,000 | 9,799,000 | 9,948,000 | 9,560,000 | 9,172,000 | 8,883,000 | 8,850,000 | 9,267,000 | 9,774,000 | 10,120,000 | 9,622,000 | 9,267,000 | 8,822,000 | 8,456,000 |
| Gross profit margin | 30.52% | 30.47% | 24.72% | 24.53% | 19.15% | 19.71% | 21.90% | 22.13% | 22.92% | 22.59% | 23.27% | 22.67% | 27.06% | 22.74% | 26.90% | 23.85% | 23.13% | 23.41% | 22.67% | 26.21% |
July 31, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $3,129,000K ÷ $10,253,000K
= 30.52%
The gross profit margin of Campbell’s Co experienced notable fluctuations over the analyzed period, reflecting varying trends in cost management and pricing strategies.
Initially, the gross profit margin was relatively stable around the low 26% range as of July 31, 2022 (26.21%), but this figure declined to a low of approximately 22.67% in October 2022 and again in October 2023 (22.67%). This suggests periods of increased cost pressures or competitive pricing that impacted gross profitability.
During the first half of 2023, the gross profit margin showed some recovery, reaching approximately 26.90% in April 2023, indicative of improved cost control or favorable pricing conditions. However, subsequent data points toward volatility, with margins decreasing again to below 23% in July 2023 (22.74%) and October 2023 (23.27%).
From late 2023 into early 2024, the gross profit margin remained relatively stable around 22-23%, but it exhibited a downward trend, reaching a low of 19.71% in July 2024 and further declining to 19.15% by October 2024. This sustained decline may signal challenges such as rising input costs or intensified pricing competition.
However, from late 2024 onwards, a significant uptick is observed, with the gross profit margin climbing to 24.53% in October 2024, progressing to approximately 24.72% in January 2025, and then experiencing a sharp increase to over 30% in April 2025 (30.47%) and July 2025 (30.52%). This substantial improvement indicates a possible strategic shift towards better cost management, effective pricing adjustments, or a combination of both.
In summary, Campbell’s Co’s gross profit margin has exhibited considerable variability, with periods of decline likely driven by external cost pressures and competitive dynamics, followed by notable recoveries suggesting strategic adaptations or market improvements. The recent upward trajectory toward over 30% signifies a positive shift in gross profitability, potentially positioning the company for improved overall financial performance in the near term.