NV5 Global Inc (NVEE)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 430,362 | 385,974 | 359,314 | 334,538 | 245,382 |
| Revenue | US$ in thousands | 1,276,230 | 1,126,510 | 1,010,090 | 941,231 | 506,663 |
| Gross profit margin | 33.72% | 34.26% | 35.57% | 35.54% | 48.43% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $430,362K ÷ $1,276,230K
= 33.72%
NV5 Global Inc's gross profit margin has shown a declining trend over the past five years, with figures of 33.72% in 2023, 34.26% in 2022, 35.57% in 2021, 35.54% in 2020, and 48.43% in 2019. The decreasing trend in the gross profit margin suggests that the company may be facing challenges in maintaining the profitability of its core business operations. It is important for NV5 Global Inc to closely monitor its cost structure and pricing strategies to improve its gross profit margin and enhance overall profitability in the future.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
NV5 Global Inc
NVEE
33.72%
Johnson Controls International PLC
JCI
33.60%