O-I Glass Inc (OI)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,496,000 | 1,213,000 | 1,091,000 | 972,000 | 1,208,000 |
| Revenue | US$ in thousands | 6,759,000 | 6,615,000 | 6,138,000 | 6,097,000 | 6,375,000 |
| Gross profit margin | 22.13% | 18.34% | 17.77% | 15.94% | 18.95% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,496,000K ÷ $6,759,000K
= 22.13%
O-I Glass Inc's gross profit margin has shown an increasing trend over the past five years. The company's gross profit margin for the fiscal year ending December 31, 2023, stands at 22.13%, compared to 18.34% in the prior year, indicating improved profitability in terms of generating revenue after accounting for the cost of goods sold. This upward trend suggests that O-I Glass Inc has been effectively managing its production costs and pricing strategies to enhance profitability. Overall, the consistent improvement in gross profit margin reflects positively on the company's operational efficiency and ability to generate profits from its core business activities.