Middleby Corp (MIDD)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,534,060 | 1,446,550 | 1,194,860 | 882,048 | 1,103,500 |
| Revenue | US$ in thousands | 4,045,300 | 4,060,950 | 3,250,490 | 2,510,360 | 2,958,550 |
| Gross profit margin | 37.92% | 35.62% | 36.76% | 35.14% | 37.30% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,534,060K ÷ $4,045,300K
= 37.92%
Middleby Corp's gross profit margin has exhibited some fluctuation over the past five years. In 2023, the gross profit margin improved to 37.92%, showing a positive trend compared to 2022 which stood at 35.62%. This increase indicates a strengthening ability to generate revenue after accounting for the cost of goods sold. However, it is essential to consider the downward trend from 2020 to 2022, where the gross profit margin decreased from 37.30% to 35.62%. Overall, Middleby Corp's recent improvement in gross profit margin suggests enhanced efficiency in managing production costs and pricing strategies, albeit with some volatility in performance over the last five years.
Peer comparison
Dec 31, 2023