Goodyear Tire & Rubber Co (GT)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,702,000 | 3,509,000 | 3,852,000 | 3,786,000 | 1,984,000 |
| Revenue | US$ in thousands | 18,878,000 | 20,066,000 | 20,805,000 | 17,478,000 | 12,321,000 |
| Gross profit margin | 19.61% | 17.49% | 18.51% | 21.66% | 16.10% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,702,000K ÷ $18,878,000K
= 19.61%
The gross profit margin of Goodyear Tire & Rubber Co has shown fluctuation over the years, based on the provided data. In December 31, 2020, the gross profit margin was 16.10%, which increased significantly to 21.66% by December 31, 2021. However, in the following years, there was a slight decrease in the gross profit margin to 18.51% by December 31, 2022, and further down to 17.49% by December 31, 2023. By December 31, 2024, the gross profit margin slightly rebounded to 19.61%.
The trend indicates a period of improvement followed by some instability in the company's ability to control the cost of goods sold. It is important for Goodyear Tire & Rubber Co to closely monitor its cost structure and strive for consistency in maintaining healthy gross profit margins to ensure sustainable profitability and operational efficiency.