Group 1 Automotive Inc (GPI)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	3,020,300	2,965,200	2,440,700	1,734,100	1,762,400
Revenue	US$ in thousands	17,760,600	16,137,600	13,416,000	10,768,700	11,964,300
Gross profit margin		17.01%	18.37%	18.19%	16.10%	14.73%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $3,020,300K ÷ $17,760,600K
= 17.01%

Group 1 Automotive, Inc.'s gross profit margin has shown some variation over the past five years. In 2023, the gross profit margin decreased to 16.90% from 18.28% in 2022, but it remained relatively stable compared to the levels in 2021 (18.10%) and 2020 (16.30%). This indicates that the company's ability to generate profits from its core operations dipped slightly in 2023. However, when compared to 2019, there has been a noticeable improvement in the gross profit margin, which was at 15.08%. Overall, the trend in gross profit margin suggests some fluctuations but generally indicates a positive direction over the past five years.