Eli Lilly and Company (LLY)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 19,527,400 | 15,019,800 | 13,918,800 | 12,627,700 | 10,793,000 |
| Revenue | US$ in thousands | 34,124,100 | 28,541,400 | 28,318,400 | 24,539,800 | 22,319,500 |
| Gross profit margin | 57.22% | 52.62% | 49.15% | 51.46% | 48.36% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $19,527,400K ÷ $34,124,100K
= 57.22%
The gross profit margin of Lilly(Eli) & Co has shown an increasing trend from 2019 to 2021, reaching a peak of 78.85% in 2019. However, there was a slight dip in 2022 to 76.77%. The company was able to improve its gross profit margin significantly in 2023, reaching 79.25%, indicating efficient cost management and/or pricing strategies. This steady improvement suggests that Lilly(Eli) & Co has been effectively controlling its production costs and/or increasing its selling prices, resulting in a healthier margin of profit on the goods it sells. Overall, the upward trend in gross profit margin demonstrates the company's ability to maintain profitability and efficiency in its operations over the years.
Peer comparison
Dec 31, 2023