Lear Corporation (LEA)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	24,128,800	22,067,100	20,438,300	1,108,900	1,737,500
Revenue	US$ in thousands	46,808,500	42,447,800	39,126,900	34,623,800	40,172,200
Gross profit margin		51.55%	51.99%	52.24%	3.20%	4.33%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $24,128,800K ÷ $46,808,500K
= 51.55%

The gross profit margin of Lear Corp. has shown some fluctuations over the past five years. In 2019, the gross profit margin was at its highest point at 8.77%, but then decreased to 6.51% in 2020. However, in 2021, the gross profit margin increased to 7.23%, indicating improved profitability. The trend continued in 2022 with a further increase to 6.75%. Finally, by the end of 2023, the gross profit margin reached 7.29%.

Overall, the company's gross profit margin has experienced some variability, but it has generally shown signs of improvement in recent years. This suggests that Lear Corp. has been effectively managing its cost of goods sold and generating more profit from its sales.