HNI Corp (HNI)

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	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	823,792	819,452	827,733
Revenue (ttm)	US$ in thousands	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	2,221,927	2,205,091	2,222,483
Gross profit margin		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%	37.08%	37.16%	37.24%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $948,200K ÷ $2,434,000K
= 38.96%

The gross profit margin of HNI Corp has shown a generally stable trend over the past few quarters, ranging from 33.86% to 38.96%. The company's gross profit margin has been consistently above 33% over the past five years, indicating healthy profitability in the operations of the company. The variations in the gross profit margin from quarter to quarter may be influenced by factors such as changes in sales volume, pricing strategies, or input costs. Overall, the company has maintained a decent level of gross profit margin, which suggests efficient cost management and pricing strategies. Monitoring this metric over time can help assess the company's ability to generate profits from its core business activities.