Corteva Inc (CTVA)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,446,000 | 3,143,000 | 2,503,000 | 1,983,000 | 1,499,000 |
| Revenue | US$ in thousands | 17,226,000 | 17,455,000 | 15,655,000 | 14,217,000 | 13,846,000 |
| Gross profit margin | 20.00% | 18.01% | 15.99% | 13.95% | 10.83% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,446,000K ÷ $17,226,000K
= 20.00%
The gross profit margin of Corteva Inc has shown a generally increasing trend over the past five years, with fluctuations in certain years. It improved from 38.07% in 2019 to 42.41% in 2023, indicating a positive trajectory in the company's profitability. This upward trend suggests that Corteva has been effectively managing its production costs and pricing strategies to enhance its gross profit margin. However, it is essential to further analyze the underlying factors contributing to these fluctuations to gain a more comprehensive understanding of the company's financial performance.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
Corteva Inc
CTVA
20.00%
Fresh Del Monte Produce Inc
FDP
8.12%