JB Hunt Transport Services Inc (JBHT)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	7,281,400	9,199,980	7,811,890	5,950,420	5,528,010
Revenue	US$ in thousands	12,735,900	14,788,200	12,116,200	9,585,030	9,097,520
Gross profit margin		57.17%	62.21%	64.47%	62.08%	60.76%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $7,281,400K ÷ $12,735,900K
= 57.17%

J.B. Hunt Transport Services, Inc. has shown a consistent gross profit margin over the past five years, ranging from 93.71% to 95.64%. This indicates that the company has been able to effectively manage its cost of goods sold while generating revenue. The relatively high gross profit margins of over 90% suggest that J.B. Hunt Transport Services operates in a business segment where it enjoys strong pricing power or has successfully negotiated favorable contracts with its customers or suppliers. The perfect gross profit margins of 100% recorded in 2020 and 2019 may be a result of the way the company accounts for its cost of goods sold. Overall, the stable and high gross profit margin reflects positively on the company's ability to generate profits from its core operations.