Haverty Furniture Companies Inc (HVT)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 523,092 | 604,225 | 574,625 | 418,994 | 434,488 |
| Revenue | US$ in thousands | 867,570 | 1,048,700 | 1,013,110 | 783,124 | 803,578 |
| Gross profit margin | 60.29% | 57.62% | 56.72% | 53.50% | 54.07% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $523,092K ÷ $867,570K
= 60.29%
Haverty Furniture Companies Inc has shown a positive trend in its gross profit margin over the past five years. The company's gross profit margin has consistently improved from 54.07% in 2019 to 60.29% in 2023. This signifies that the company has been able to effectively manage its cost of goods sold relative to its revenue, resulting in a higher percentage of revenue being retained as gross profit.
The steady increase in gross profit margin indicates improved efficiency in manufacturing and sourcing processes, as well as potentially effective pricing strategies. This trend suggests that Haverty Furniture Companies Inc has been able to enhance its profitability by controlling costs and maximizing revenue generation in recent years.
Overall, the improving trend in gross profit margin reflects positively on the company's operational performance and financial health, indicating effective management of production costs and pricing strategies.
Peer comparison
Dec 31, 2023