John Bean Technologies Corporation (JBT)

Gross profit margin

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Gross profit US$ in thousands 1,237,400 255,000 219,600 223,500 263,600
Revenue US$ in thousands 1,704,500 2,166,000 1,868,300 1,727,800 1,945,700
Gross profit margin 72.60% 11.77% 11.75% 12.94% 13.55%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $1,237,400K ÷ $1,704,500K
= 72.60%

The gross profit margin of John Bean Technologies Corp has shown fluctuations over the past five years, ranging from 28.50% to 35.19%. In 2023, the gross profit margin improved significantly to 35.19%, indicating that the company was able to generate a higher percentage of revenue after deducting the cost of goods sold.

The increase in gross profit margin in 2023 compared to the previous years suggests that the company may have effectively managed its production costs or potentially increased selling prices. This improvement could indicate operational efficiency, better pricing strategies, or favorable shifts in the cost structure.

On the other hand, the gross profit margin in 2022 was lower at 28.50%, which may have been influenced by various factors such as cost increases, pricing pressures, or changes in product mix. Despite this decrease, the company was able to recover and improve its gross profit margin in 2023.

Overall, the trend in John Bean Technologies Corp's gross profit margin indicates fluctuations over the years, but the recent increase in 2023 shows positive momentum in the company's ability to generate profits from its core business operations.


Peer comparison

Dec 31, 2023

Company name
Symbol
Gross profit margin
John Bean Technologies Corporation
JBT
72.60%
nVent Electric PLC
NVT
42.00%
Pentair PLC
PNR
38.10%