Kelly Services A Inc (KELYA)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	961,400	1,011,800	919,200	827,600	968,400
Revenue	US$ in thousands	4,834,000	4,948,800	4,905,600	4,506,800	5,355,600
Gross profit margin		19.89%	20.45%	18.74%	18.36%	18.08%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $961,400K ÷ $4,834,000K
= 19.89%

The gross profit margin of Kelly Services, Inc. has shown a fluctuating trend over the past five years. In 2023, the gross profit margin decreased to 19.88% from 20.38% in the previous year, indicating a slight decline in the company's ability to generate profits from its core business activities. Despite this slight decrease, the gross profit margin in 2023 remains higher compared to the levels reported in 2021 and 2020, signifying some improvement in the company's profitability.

Overall, Kelly Services, Inc. has demonstrated relatively stable gross profit margins in the range of 18-20% over the past five years. It is essential for investors and stakeholders to monitor the company's performance closely to assess its ability to maintain and potentially improve its gross profit margin in the future, as profitability is a key indicator of a company's financial health and sustainability.