NewMarket Corporation (NEU)

Gross profit margin

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Gross profit US$ in thousands 772,513 640,497 547,707 595,032 629,869
Revenue US$ in thousands 2,657,060 2,718,050 2,315,890 1,998,090 2,157,050
Gross profit margin 29.07% 23.56% 23.65% 29.78% 29.20%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $772,513K ÷ $2,657,060K
= 29.07%

The gross profit margin of NewMarket Corp. has exhibited some fluctuation over the past five years, ranging from 23.17% in 2022 to 29.59% in 2020. In the most recent year, as of Dec 31, 2023, the gross profit margin increased to 28.63%, showing a positive trend compared to the previous year. This improvement indicates that the company was able to effectively control its production costs relative to its revenue, resulting in a higher percentage of revenue retained as gross profit. Overall, the company's gross profit margin performance suggests an ability to manage costs and generate profits from its core operating activities.


Peer comparison

Dec 31, 2023