Martin Marietta Materials Inc (MLM)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	2,022,600	1,893,400	1,705,200	1,570,000	1,423,300	1,415,800	1,369,900	1,329,800	1,348,400	1,327,100	1,289,700	1,285,100	1,252,800	1,186,000	1,202,100	1,178,500	1,179,000	1,147,707	1,040,091	999,108
Revenue (ttm)	US$ in thousands	6,611,800	6,477,700	6,293,300	6,113,300	5,994,600	6,009,400	5,753,500	5,504,700	5,270,300	4,974,600	4,754,300	4,643,900	4,615,000	4,529,960	4,625,070	4,631,840	4,610,360	4,558,440	4,354,800	4,278,060
Gross profit margin		30.59%	29.23%	27.10%	25.68%	23.74%	23.56%	23.81%	24.16%	25.58%	26.68%	27.13%	27.67%	27.15%	26.18%	25.99%	25.44%	25.57%	25.18%	23.88%	23.35%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,022,600K ÷ $6,611,800K
= 30.59%

Based on the data provided, Martin Marietta Materials, Inc. has shown a consistent improvement in its gross profit margin over the past eight quarters. The gross profit margin has steadily increased from 23.10% in Q4 2022 to 29.84% in Q4 2023, indicating an upward trend in the company's ability to generate profits from its core operations.

This improvement suggests that Martin Marietta Materials has been effectively controlling its production costs and/or increasing the selling prices of its products over the quarters, resulting in a higher percentage of revenue retained after accounting for the cost of goods sold.

The company's ability to maintain and even expand its gross profit margin over time is a positive indicator of its operational efficiency and pricing power in the market. It demonstrates the management's focus on optimizing production processes and managing costs effectively, ultimately leading to enhanced profitability for the company.

Overall, the consistent improvement in Martin Marietta Materials' gross profit margin highlights its competitive positioning and financial health in the industry.