Mohawk Industries Inc (MHK)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 2,709,650 | 2,943,430 | 3,268,730 | 2,430,690 | 2,676,040 |
| Revenue | US$ in thousands | 11,044,200 | 11,671,300 | 11,133,200 | 9,486,860 | 9,935,830 |
| Gross profit margin | 24.53% | 25.22% | 29.36% | 25.62% | 26.93% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $2,709,650K ÷ $11,044,200K
= 24.53%
Based on the data provided for Mohawk Industries, Inc., the gross profit margin has exhibited some fluctuation over the past five years. In 2023, the gross profit margin was recorded at 24.33%, displaying a slight decrease from the previous year's figure of 25.08%. This decline may indicate potential challenges in managing the cost of goods sold relative to revenue generated.
Comparing the 2023 gross profit margin to that of 2021 and 2019, which stood at 29.18% and 26.84% respectively, we observe a noticeable decrease in profitability during this period. However, the margin in 2023 remains higher than that of 2020, where it was 25.45%.
It is essential for Mohawk Industries, Inc. to further analyze the factors contributing to these fluctuations in the gross profit margin to identify areas for improvement. Monitoring and effectively managing costs associated with production and sales activities will be crucial in enhancing profitability and maintaining a competitive position in the market.
Peer comparison
Dec 31, 2023