nVent Electric PLC (NVT)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,209,100 | 1,342,100 | 1,096,700 | 941,900 | 749,400 |
| Revenue | US$ in thousands | 3,006,100 | 3,263,600 | 2,909,000 | 2,462,000 | 1,998,600 |
| Gross profit margin | 40.22% | 41.12% | 37.70% | 38.26% | 37.50% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,209,100K ÷ $3,006,100K
= 40.22%
nVent Electric PLC's gross profit margin has shown a fluctuating trend over the years based on the provided data. The margin stood at 37.50% as of December 31, 2020, and slightly increased to 38.26% by December 31, 2021. However, there was a slight decrease to 37.70% by December 31, 2022. Subsequently, there was a significant improvement, with the margin reaching 41.12% by December 31, 2023, indicating strong profitability. By December 31, 2024, the margin decreased slightly to 40.22%, but it still remained relatively high. Overall, the company's gross profit margin has exhibited some variability, with a notable improvement in 2023, suggesting effective cost management and potentially favorable pricing strategies during that period.
Peer comparison
Dec 31, 2024