Leggett & Platt Incorporated (LEG)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 853,800 | 976,800 | 1,038,300 | 904,100 | 1,024,000 |
| Revenue | US$ in thousands | 4,632,700 | 5,203,900 | 5,133,700 | 4,329,000 | 4,813,000 |
| Gross profit margin | 18.43% | 18.77% | 20.23% | 20.88% | 21.28% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $853,800K ÷ $4,632,700K
= 18.43%
The gross profit margin for Leggett & Platt, Inc. has shown a declining trend over the past five years, decreasing from 22.11% in 2019 to 18.07% in 2023. This indicates that the company's ability to generate profit from its core operations has been gradually diminishing. Several factors could be contributing to this decline, such as an increase in the cost of goods sold, pricing pressures, or inefficiencies in production processes. It is crucial for the company to closely monitor and address these issues to improve its profitability and competitive position in the market.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
Leggett & Platt Incorporated
LEG
18.43%
La-Z-Boy Incorporated
LZB
43.07%
Tempur Sealy International Inc
TPX
43.22%