Hormel Foods Corporation (HRL)
Gross profit margin
| Oct 27, 2024 | Jul 28, 2024 | Apr 28, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 2,022,138 | 2,015,332 | 2,025,011 | 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 |
| Revenue (ttm) | US$ in thousands | 11,880,780 | 11,922,100 | 11,968,590 | 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 |
| Gross profit margin | 17.02% | 16.90% | 16.92% | 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% |
October 27, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,022,138K ÷ $11,880,780K
= 17.02%
Based on the historical data provided, Hormel Foods Corporation's gross profit margin has displayed fluctuations over the periods. The gross profit margin represents the percentage of revenue that exceeds the cost of goods sold and is a key measure of a company's profitability.
From January 2020 to October 2024, Hormel Foods' gross profit margin ranged from 16.61% to 19.61%. There was a general upward trend in the gross profit margin from early 2020 to early 2021, reaching a peak of 19.61%. Subsequently, there were fluctuations in the range of 16.69% to 17.51% until October 2023.
After October 2023, the gross profit margin dipped to 16.61% but then gradually increased to 17.02% by October 2024. The average gross profit margin over this period was approximately 17.43%.
These fluctuations in the gross profit margin could be attributed to changes in factors such as pricing strategies, input costs, supply chain disruptions, competitive pressures, or shifts in consumer preferences. Analyzing the trend in gross profit margin over time can provide insight into Hormel Foods' ability to manage costs and generate profits from its core operations.