Hormel Foods Corporation (HRL)
Gross profit margin
| Oct 27, 2024 | Oct 29, 2023 | Oct 30, 2022 | Oct 31, 2021 | Oct 25, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 2,022,140 | 1,999,840 | 2,164,690 | 1,927,910 | 1,825,960 |
| Revenue | US$ in thousands | 11,920,800 | 12,036,600 | 12,389,600 | 11,339,200 | 9,585,600 |
| Gross profit margin | 16.96% | 16.61% | 17.47% | 17.00% | 19.05% |
October 27, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $2,022,140K ÷ $11,920,800K
= 16.96%
The gross profit margin of Hormel Foods Corporation has shown slight fluctuations over the past five years. In the most recent fiscal year ending on October 27, 2024, the gross profit margin stood at 16.96%, which was slightly higher compared to the previous year's margin of 16.61% ending on October 29, 2023. However, when compared to two years ago, where the margin was 17.47% ending on October 30, 2022, we observe a slight decline. The trend indicates some variability in the company's ability to generate profits from its core operations, with the lowest margin recorded at 16.61% in the last five years and the highest at 19.05% ending on October 25, 2020. Further analysis and consideration of other financial metrics are recommended to provide a deeper understanding of the company's overall financial performance and efficiency in managing its cost of goods sold.