FMC Corporation (FMC)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	1,831,000	2,326,800	2,161,300	2,046,700	2,083,600
Revenue	US$ in thousands	4,174,400	5,573,700	5,034,800	4,636,800	4,609,800
Gross profit margin		43.86%	41.75%	42.93%	44.14%	45.20%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $1,831,000K ÷ $4,174,400K
= 43.86%

The gross profit margin for FMC Corp. has shown a declining trend over the past five years. From 2019 to 2023, the gross profit margin decreased from 45.20% to 40.81%. This indicates that the company's profitability from sales revenue after accounting for the cost of goods sold has been gradually decreasing.

There could be several reasons for this decline in gross profit margin. It could be due to an increase in the cost of goods sold, pricing pressures in the industry, or changes in the product mix that might have different profit margins. It is essential for FMC Corp. to closely monitor and analyze the factors affecting its gross profit margin to make informed business decisions and improve profitability in the future.