Insteel Industries Inc (IIIN)
Gross profit margin
| Sep 30, 2024 | Sep 30, 2023 | Sep 30, 2022 | Sep 30, 2021 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 49,632 | 65,398 | 197,310 | 121,548 | 55,787 |
| Revenue | US$ in thousands | 529,198 | 649,188 | 826,832 | 590,601 | 472,618 |
| Gross profit margin | 9.38% | 10.07% | 23.86% | 20.58% | 11.80% |
September 30, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $49,632K ÷ $529,198K
= 9.38%
The gross profit margin of Insteel Industries Inc has shown fluctuations over the past five years. In 2024, the gross profit margin decreased to 9.38% from 10.07% in 2023. This decline indicates a decrease in the percentage of revenue retained after accounting for the cost of goods sold.
Comparing 2024 to prior years, the gross profit margin was notably lower than the highs seen in 2022 and 2021 when it was 23.86% and 20.58% respectively. This suggests a decrease in the profitability of the company from those peak years.
Moreover, the gross profit margin in 2020 was substantially lower at 11.80% compared to the most recent year. Overall, a declining trend in gross profit margin could indicate challenges in cost management or pricing strategies, which may warrant further investigation to identify areas for improvement in operational efficiency and profitability.
Peer comparison
Sep 30, 2024