CVR Energy Inc (CVI)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,273,000 | 1,130,000 | 218,000 | -189,000 | 702,000 |
| Revenue | US$ in thousands | 9,247,000 | 10,896,000 | 7,242,000 | 3,930,000 | 6,364,000 |
| Gross profit margin | 13.77% | 10.37% | 3.01% | -4.81% | 11.03% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,273,000K ÷ $9,247,000K
= 13.77%
The gross profit margin of CVR Energy Inc has shown fluctuating trends over the past five years. It increased from 23.77% in 2019 to 24.16% in 2023, which indicates an improvement in the company's ability to generate profits from its core business activities. This rise suggests that the company may have effectively managed its cost of goods sold or improved its pricing strategies.
The significant increase in the gross profit margin from 2019 to 2023 demonstrates an enhancement in the company's operational efficiency or a positive shift in its product mix. On the other hand, the comparatively lower margins in 2021 and 2022 might reflect cost pressures or pricing challenges faced by the company during those periods.
Overall, the upward trend in the gross profit margin of CVR Energy Inc implies a potential strengthening of its profitability and operational performance. However, further analysis of the company's financial statements and underlying factors driving these changes would provide a more comprehensive understanding of its financial health.
Peer comparison
Dec 31, 2023