Franklin Electric Co Inc (FELE)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 697,008 | 691,435 | 576,089 | 433,139 | 428,103 |
| Revenue | US$ in thousands | 2,041,220 | 2,024,940 | 1,654,440 | 1,241,280 | 1,304,690 |
| Gross profit margin | 34.15% | 34.15% | 34.82% | 34.89% | 32.81% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $697,008K ÷ $2,041,220K
= 34.15%
The gross profit margin of Franklin Electric Co., Inc. has fluctuated over the past five years. The company's gross profit margin was 33.75% in 2023, slightly lower than the 33.83% in 2022 but higher compared to 2019 and 2020. This indicates that the company was able to generate more gross profit relative to its revenue in 2023. The highest gross profit margin in the period was recorded in 2021 at 34.67%, showing the company's efficiency in controlling direct production costs. Overall, while there have been minor fluctuations, the company has maintained a relatively stable gross profit margin over the years, indicating consistent performance in managing its cost of goods sold.
Peer comparison
Dec 31, 2023