Heritage Financial Corporation (HFWA)
Gross profit margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 66,948 | 90,888 | 97,012 | 106,211 | 110,016 | 54,781 | 56,345 | 84,641 | 94,839 | 152,942 | 140,148 | 50,150 | 17,635 | 5,204 | 10,310 | 64,007 | 77,910 | 78,962 | 75,352 | 69,602 |
| Revenue (ttm) | US$ in thousands | 240,902 | 261,588 | 267,624 | 267,038 | 259,556 | 252,619 | 247,108 | 263,310 | 271,408 | 274,840 | 266,804 | 220,033 | 202,681 | 192,376 | 195,892 | 222,867 | 229,009 | 231,013 | 230,880 | 223,672 |
| Gross profit margin | 27.79% | 34.74% | 36.25% | 39.77% | 42.39% | 21.69% | 22.80% | 32.15% | 34.94% | 55.65% | 52.53% | 22.79% | 8.70% | 2.71% | 5.26% | 28.72% | 34.02% | 34.18% | 32.64% | 31.12% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $66,948K ÷ $240,902K
= 27.79%
The gross profit margin of Heritage Financial Corp. has shown fluctuations over the past eight quarters, ranging from as low as 97.59% in Q2 2023 to as high as 110.64% in Q1 2022. These fluctuations indicate potential variability in the company's ability to generate profits from its core operations after accounting for the cost of goods sold. The recent downward trend from Q3 2022 to Q2 2023 may suggest challenges in maintaining profitability or pressure on margins. Further investigation into the factors impacting the cost of goods sold and revenue generation is recommended to understand the underlying reasons for these fluctuations.