Hub Group Inc (HUBG)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,116,320 | 3,392,470 | 889,505 | 599,640 | 425,437 |
| Revenue | US$ in thousands | 3,948,950 | 4,197,040 | 5,358,280 | 4,244,580 | 3,485,460 |
| Gross profit margin | 78.92% | 80.83% | 16.60% | 14.13% | 12.21% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,116,320K ÷ $3,948,950K
= 78.92%
Based on the data provided, the gross profit margin of Hub Group Inc has shown an increasing trend over the years. It was 12.21% as of December 31, 2020, and improved to 14.13% by December 31, 2021, indicating the company's ability to generate more revenue after accounting for the cost of goods sold.
By December 31, 2022, the gross profit margin further expanded to 16.60%, showcasing the company's efficiency in managing production costs and pricing strategies. However, there was a substantial surge in the gross profit margin to 80.83% by December 31, 2023, and slightly decreased to 78.92% by December 31, 2024.
The sharp increase in the gross profit margin in 2023 and the subsequent slight decline in 2024 could be attributed to various factors such as changes in pricing strategies, cost control measures, or fluctuations in input costs. Overall, the increasing gross profit margins reflect Hub Group Inc's improving profitability and operational efficiency during the period under review.
Peer comparison
Dec 31, 2024