Eastman Chemical Company (EMN)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 2,061,000 | 2,137,000 | 2,500,000 | 1,975,000 | 2,234,000 |
| Revenue | US$ in thousands | 9,210,000 | 10,580,000 | 10,476,000 | 8,473,000 | 9,273,000 |
| Gross profit margin | 22.38% | 20.20% | 23.86% | 23.31% | 24.09% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $2,061,000K ÷ $9,210,000K
= 22.38%
The gross profit margin of Eastman Chemical Co has fluctuated over the past five years. In 2023, the gross profit margin increased to 22.38% from 20.20% in 2022 but remained below the levels seen in 2021 (23.86%), 2020 (23.31%), and 2019 (24.09%). This indicates that the company's ability to generate profit from its core operations improved slightly in 2023 compared to the previous year, but it has not yet reached the levels seen in earlier years. Further analysis of the company's cost structure and pricing strategies may be necessary to understand the drivers behind these changes in the gross profit margin.
Peer comparison
Dec 31, 2023