Hormel Foods Corporation (HRL)
Gross profit margin
| Jan 28, 2024 | Oct 29, 2023 | Jul 30, 2023 | Apr 30, 2023 | Jan 29, 2023 | Oct 30, 2022 | Jul 31, 2022 | May 1, 2022 | Jan 30, 2022 | Oct 31, 2021 | Jul 25, 2021 | Apr 25, 2021 | Jan 24, 2021 | Oct 25, 2020 | Jul 26, 2020 | Apr 26, 2020 | Jan 26, 2020 | Oct 27, 2019 | Jul 28, 2019 | Apr 28, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 2,012,624 | 1,999,840 | 2,051,833 | 2,059,834 | 2,121,886 | 2,164,686 | 2,176,350 | 2,093,649 | 2,016,485 | 1,927,906 | 1,807,590 | 1,806,668 | 1,807,713 | 1,825,964 | 1,861,922 | 1,872,938 | 1,864,735 | 1,884,648 | 1,924,253 | 1,945,857 |
| Revenue (ttm) | US$ in thousands | 12,062,240 | 12,038,800 | 12,123,670 | 12,197,540 | 12,320,120 | 12,393,100 | 12,565,850 | 12,399,020 | 11,915,950 | 11,339,360 | 10,322,430 | 9,846,190 | 9,666,330 | 9,595,680 | 9,677,090 | 9,588,850 | 9,509,010 | 9,481,890 | 9,505,080 | 9,568,300 |
| Gross profit margin | 16.69% | 16.61% | 16.92% | 16.89% | 17.22% | 17.47% | 17.32% | 16.89% | 16.92% | 17.00% | 17.51% | 18.35% | 18.70% | 19.03% | 19.24% | 19.53% | 19.61% | 19.88% | 20.24% | 20.34% |
January 28, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,012,624K ÷ $12,062,240K
= 16.69%
Hormel Foods Corp.'s gross profit margin has exhibited fluctuations over the past eight quarters, ranging from a high of 17.37% in Q4 2022 to a low of 16.51% in Q4 2023. The trend shows a slight decrease in gross profit margin from Q1 2023 to Q1 2024. However, the company has managed to maintain relatively consistent levels above 16%, indicating a reasonable ability to generate profits from its core business activities. It would be beneficial for further analysis to explore the reasons behind the variations in the gross profit margin to determine any underlying factors impacting the company's profitability.