Chart Industries Inc (GTLS)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,040,400 | 407,400 | 324,200 | 332,100 | 297,500 |
| Revenue | US$ in thousands | 3,031,500 | 1,594,000 | 1,300,300 | 1,389,800 | 1,274,000 |
| Gross profit margin | 34.32% | 25.56% | 24.93% | 23.90% | 23.35% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,040,400K ÷ $3,031,500K
= 34.32%
Chart Industries Inc's gross profit margin has shown a fluctuating trend over the past five years. In 2023, the gross profit margin improved significantly to 31.03%, marking a notable increase compared to the previous years. This improvement suggests that the company was able to effectively control its cost of goods sold and generate higher revenues relative to its production costs.
The gross profit margin in 2022 was at 25.27%, slightly higher than in 2021 when it stood at 24.60%. The increase in 2022 indicates some improvement in profitability, although it remained relatively stable. In 2020, the gross profit margin was higher at 28.21%, suggesting better cost management or increased sales prices relative to costs during that year.
Comparing the most recent gross profit margin to 2019, which was at 25.93%, the company has shown a notable improvement. This indicates potential efficiency gains in production and cost management, leading to better profitability.
Overall, the trend in Chart Industries Inc's gross profit margin demonstrates fluctuations over the years, with a significant improvement in 2023. Further analysis of the company's cost structure and revenue generation may provide more insights into the factors driving these changes in the gross profit margin.