HNI Corp (HNI)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,033,400 | 948,300 | 834,900 | 757,400 | 721,100 |
| Revenue | US$ in thousands | 2,526,400 | 2,434,000 | 2,361,800 | 2,184,400 | 1,948,370 |
| Gross profit margin | 40.90% | 38.96% | 35.35% | 34.67% | 37.01% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,033,400K ÷ $2,526,400K
= 40.90%
The gross profit margin of HNI Corp has shown fluctuations over the past five years. It decreased from 37.01% as of December 31, 2020, to 34.67% as of December 31, 2021. However, the margin improved in the following years, reaching 35.35% as of December 31, 2022, 38.96% as of December 31, 2023, and further increased to 40.90% as of December 31, 2024. Overall, the trend indicates a recent improvement in the company's ability to generate profits from its core operations, as evidenced by the consecutive growth in the gross profit margin.