HNI Corp (HNI)
Gross profit margin
| Dec 31, 2024 | Sep 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 1,045,100 | 1,070,000 | 1,006,700 | 948,200 | 883,000 | 807,200 | 812,300 | 834,900 | 821,200 | 807,100 | 774,400 | 757,446 | 771,876 | 762,023 | 725,028 | 721,100 | 746,357 | 798,481 | 840,165 | 833,761 |
| Revenue (ttm) | US$ in thousands | 2,582,500 | 2,651,600 | 2,542,900 | 2,434,000 | 2,323,100 | 2,210,300 | 2,268,500 | 2,361,700 | 2,395,700 | 2,383,600 | 2,272,400 | 2,184,393 | 2,136,642 | 2,057,005 | 1,963,961 | 1,948,372 | 2,000,722 | 2,119,093 | 2,225,230 | 2,233,871 |
| Gross profit margin | 40.47% | 40.35% | 39.59% | 38.96% | 38.01% | 36.52% | 35.81% | 35.35% | 34.28% | 33.86% | 34.08% | 34.68% | 36.13% | 37.05% | 36.92% | 37.01% | 37.30% | 37.68% | 37.76% | 37.32% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,045,100K ÷ $2,582,500K
= 40.47%
The gross profit margin of HNI Corp has shown fluctuations over the period from December 31, 2019, to December 31, 2024. Initially, the company's gross profit margin was relatively stable, hovering around the mid to high 30% range. However, from December 31, 2021, to June 30, 2022, there was a noticeable decline in the gross profit margin, dropping to as low as 33.86%.
Subsequently, there was a gradual recovery in the gross profit margin, with improvements observed in the following quarters. Notably, by December 31, 2024, the gross profit margin had increased to 40.47%, showing a significant improvement compared to the lows experienced earlier.
The overall trend indicates that HNI Corp has managed to enhance its gross profit margin over the analyzed period, showcasing an ability to effectively control its cost of goods sold and generate a higher level of profitability from its core operations. This improvement suggests management's focus on operational efficiency and effectiveness in managing the company's cost structure.