ODP Corp (ODP)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,766,000 | 1,848,000 | 1,863,000 | 1,951,000 | 2,255,000 |
| Revenue | US$ in thousands | 7,812,000 | 8,477,000 | 8,439,000 | 9,660,000 | 10,561,000 |
| Gross profit margin | 22.61% | 21.80% | 22.08% | 20.20% | 21.35% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,766,000K ÷ $7,812,000K
= 22.61%
The gross profit margin of ODP Corp has demonstrated a fluctuating trend over the past five years. In 2023, the gross profit margin improved to 22.61% from 21.80% in 2022, indicating an increase in the percentage of revenue retained after accounting for the cost of goods sold. This suggests potentially more efficient cost management or pricing strategies during the most recent year.
Compared to 2020 and 2019, where the gross profit margin was 20.20% and 21.35% respectively, the company has made progress in improving its gross profit margin over the last two years. This improvement could be attributed to various factors such as better inventory management, renegotiated supplier contracts, or streamlined production processes.
While the gross profit margin in 2021 was slightly higher at 22.08% compared to 2023, the difference is relatively minor. Overall, the trend in the gross profit margin of ODP Corp shows some variability but generally indicates an improvement in the company's ability to generate profits from its core operations over the past two years.
Peer comparison
Dec 31, 2023