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