Insteel Industries Inc (IIIN)
Gross profit margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 53,882 | 65,398 | 91,210 | 128,925 | 172,732 | 197,310 | 197,434 | 170,902 | 144,061 | 121,548 | 101,091 | 84,346 | 69,401 | 55,787 | 40,153 | 33,584 | 25,322 | 30,061 | 45,777 | 61,727 |
| Revenue (ttm) | US$ in thousands | 600,711 | 649,214 | 702,408 | 763,864 | 817,999 | 826,223 | 790,215 | 723,780 | 649,569 | 590,694 | 556,516 | 517,734 | 493,592 | 471,587 | 446,089 | 450,346 | 447,416 | 454,662 | 464,253 | 464,751 |
| Gross profit margin | 8.97% | 10.07% | 12.99% | 16.88% | 21.12% | 23.88% | 24.98% | 23.61% | 22.18% | 20.58% | 18.16% | 16.29% | 14.06% | 11.83% | 9.00% | 7.46% | 5.66% | 6.61% | 9.86% | 13.28% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $53,882K ÷ $600,711K
= 8.97%
The gross profit margin of Insteel Industries Inc has shown a fluctuating trend over the past few quarters. The margin has decreased from 13.28% in March 2019 to 8.97% in December 2023. This indicates a declining trend in the company's ability to generate profit from its revenue after accounting for the cost of goods sold.
The company experienced a significant drop in gross profit margin in recent quarters, with the margin reaching its lowest point at 5.66% in March 2020. Subsequently, there was a gradual recovery in the margin, reaching 16.88% in March 2023, before declining again in the latest quarter.
Overall, the decreasing trend in the gross profit margin may indicate challenges in managing production costs and pricing strategies. It is important for Insteel Industries Inc to closely monitor and control its cost structure to improve its profitability and maintain competitiveness in the industry.
Peer comparison
Dec 31, 2023