ITT Inc (ITT)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,107,300 | 922,300 | 899,500 | 782,200 | 910,100 |
| Revenue | US$ in thousands | 3,283,000 | 2,987,700 | 2,765,000 | 2,477,800 | 2,846,400 |
| Gross profit margin | 33.73% | 30.87% | 32.53% | 31.57% | 31.97% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,107,300K ÷ $3,283,000K
= 33.73%
The gross profit margin of ITT Inc has shown variability over the past five years. In 2023, the gross profit margin improved to 33.73% compared to 30.87% in 2022. This indicates that the company was able to generate more profit on each dollar of sales in 2023.
Furthermore, the gross profit margin in 2023 was higher than the margins reported in 2021, 2020, and 2019, suggesting an overall positive trend in profitability over the years. It is important to note that the gross profit margin fluctuated within a relatively narrow range of around 31-34%, indicating some consistency in the company's ability to control production costs and generate profits from its operations. Overall, the upward trend in the gross profit margin reflects improved operational efficiency and potentially better pricing strategies implemented by ITT Inc in recent years.
Peer comparison
Dec 31, 2023