Ingredion Incorporated (INGR)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,749,000 | 1,494,000 | 1,331,000 | 1,272,000 | 1,312,000 |
| Revenue | US$ in thousands | 8,160,000 | 7,946,000 | 6,894,000 | 5,966,000 | 6,200,000 |
| Gross profit margin | 21.43% | 18.80% | 19.31% | 21.32% | 21.16% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,749,000K ÷ $8,160,000K
= 21.43%
Ingredion Inc's gross profit margin has shown some fluctuations over the past five years. In 2023, the gross profit margin increased to 21.43%, representing an improvement compared to the previous year's margin of 18.80%. This suggests that the company was able to achieve higher profitability on its sales in 2023.
Comparing 2023 to 2021 and 2020, the gross profit margin was slightly lower. In 2021, it stood at 19.31%, while in 2020 it was 21.25%. Despite the slight decrease in these years, the company's gross profit margin remained above 19%, indicating that Ingredion Inc was able to maintain a healthy level of profitability during these periods.
When compared to 2019, the gross profit margin in 2023 was slightly higher, with the margin in 2019 at 21.13%. This suggests that Ingredion Inc was able to improve its profitability marginally over the past five years.
Overall, while there have been fluctuations in Ingredion Inc's gross profit margin over the years, the company has generally maintained a consistent level of profitability, with the recent increase in 2023 showing a positive trend in terms of its ability to generate profits from its operations.
Peer comparison
Dec 31, 2023