Gates Industrial Corporation plc (GTES)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,358,900 | 1,250,600 | 1,339,200 | 1,034,700 | 1,142,500 |
| Revenue | US$ in thousands | 3,570,200 | 3,554,200 | 3,474,400 | 2,793,000 | 3,087,100 |
| Gross profit margin | 38.06% | 35.19% | 38.54% | 37.05% | 37.01% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,358,900K ÷ $3,570,200K
= 38.06%
Gates Industrial Corporation plc's gross profit margin has shown a fluctuating trend over the past five years. In 2023, the gross profit margin increased to 38.06%, compared to 35.19% in 2022. This improvement indicates that the company was able to generate a higher percentage of revenue as gross profit in 2023.
In 2021, the gross profit margin was 38.54%, higher than both 2022 and 2023. This suggests that the company's profitability was even stronger in 2021. However, in 2020 and 2019, the gross profit margins were 37.05% and 37.01% respectively, showing relatively consistent levels of profitability during those years.
Overall, while the gross profit margin has varied slightly over the years, the company has generally maintained a healthy level of profitability in relation to its revenue generation. It will be important to monitor future trends in the gross profit margin to assess the company's ability to effectively manage costs and maintain profitability.
Peer comparison
Dec 31, 2023