Minerals Technologies Inc (MTX)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 507,100 | 465,000 | 446,500 | 405,400 | 440,600 |
| Revenue | US$ in thousands | 2,108,700 | 2,074,800 | 1,820,700 | 1,556,400 | 1,745,900 |
| Gross profit margin | 24.05% | 22.41% | 24.52% | 26.05% | 25.24% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $507,100K ÷ $2,108,700K
= 24.05%
The gross profit margin of Minerals Technologies, Inc. has shown some variability over the past five years. In 2023, the gross profit margin stood at 23.37%, reflecting a slight improvement compared to the previous year's margin of 21.88%. However, this figure is lower than the margins recorded in 2021 and 2020, which were 24.03% and 25.42%, respectively. The margin in 2019 was similar to that of 2023, at 24.60%.
The declining trend observed from 2020 to 2023 may indicate potential challenges in maintaining profitability or controlling production costs. It would be advisable for the company to closely monitor and analyze the factors affecting its gross profit margin to implement strategies that can enhance operational efficiency and profitability in the future.
Peer comparison
Dec 31, 2023