KAR Auction Services Inc (KAR)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | -43,300 | 143,700 | 251,000 | 146,600 | 329,900 |
| Revenue | US$ in thousands | 1,645,100 | 1,519,400 | 1,450,600 | 1,326,900 | 2,781,900 |
| Gross profit margin | -2.63% | 9.46% | 17.30% | 11.05% | 11.86% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $-43,300K ÷ $1,645,100K
= -2.63%
Analyzing Openlane Inc.'s gross profit margin over the past five years reveals a generally positive trend. The company's gross profit margin has been increasing steadily from 41.87% in 2019 to 47.26% in 2023. This indicates an improvement in the efficiency of the company's production processes and its ability to generate profit from sales. The consistent growth in gross profit margin demonstrates Openlane Inc.'s effective management of costs and pricing strategies, leading to higher profitability over the years. Overall, the rising trend in gross profit margin is a positive indicator of the company's financial health and operational performance.
Peer comparison
Dec 31, 2023