Martin Marietta Materials Inc (MLM)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	2,022,600	1,423,300	1,348,400	1,252,800	1,179,000
Revenue	US$ in thousands	6,611,900	5,991,700	5,293,000	4,684,800	4,612,900
Gross profit margin		30.59%	23.75%	25.48%	26.74%	25.56%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $2,022,600K ÷ $6,611,900K
= 30.59%

Over the past five years, Martin Marietta Materials, Inc. has shown varying levels of gross profit margin. The gross profit margin indicates the percentage of revenue that exceeds the cost of goods sold, serving as a measure of operational efficiency and pricing strategy.

In 2023, the company achieved a gross profit margin of 29.84%, representing a significant improvement compared to the previous year. This indicates that the company effectively managed its production costs and pricing structure to generate higher profits from its core business activities.

In 2022, the gross profit margin stood at 23.10%, which was the lowest in the past five years. This could suggest challenges in controlling production costs or pricing pressures that impacted the profitability of the company's operations.

In 2021 and 2020, the gross profit margin was relatively stable at 24.91% and 26.49%, respectively. These figures indicate consistent performance in managing costs and generating profits from sales.

In 2019, the company recorded a gross profit margin of 24.88%, which was similar to the margins seen in 2021 and 2020.

Overall, the trend in the gross profit margin for Martin Marietta Materials, Inc. has shown some fluctuations over the past five years, with notable improvements in 2023 compared to the previous year. Further analysis of the company's cost structure and pricing strategies could provide insights into the factors driving these fluctuations and help assess the company's overall financial performance.