Granite Construction Incorporated (GVA)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 396,399 | 369,494 | 362,645 | 344,788 | 189,785 |
| Revenue | US$ in thousands | 6,977,110 | 6,602,500 | 6,066,260 | 7,107,650 | 6,891,540 |
| Gross profit margin | 5.68% | 5.60% | 5.98% | 4.85% | 2.75% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $396,399K ÷ $6,977,110K
= 5.68%
Granite Construction Inc.'s gross profit margin has shown a positive trend over the past five years, steadily increasing from 6.43% in 2019 to 11.30% in 2023. This indicates that the company has been able to effectively manage its production costs and generate a higher margin on its products or services over time. A rising gross profit margin typically reflects better pricing strategies, cost control measures, or operational efficiencies within the organization. Overall, this upward trend in gross profit margin suggests improved profitability and operational performance for Granite Construction Inc.
Peer comparison
Dec 31, 2023