Patrick Industries Inc (PATK)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 835,890 | 782,233 | 1,059,940 | 801,194 | 459,017 |
| Revenue | US$ in thousands | 3,715,680 | 3,468,040 | 4,881,870 | 4,078,090 | 2,486,600 |
| Gross profit margin | 22.50% | 22.56% | 21.71% | 19.65% | 18.46% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $835,890K ÷ $3,715,680K
= 22.50%
The gross profit margin of Patrick Industries Inc has displayed a positive trend over the past five years.
As of December 31, 2020, the gross profit margin stood at 18.46%, showing a gradual upward trajectory to reach 19.65% by December 31, 2021. This improvement continued into the following years, with the margin increasing to 21.71% by December 31, 2022, and further to 22.56% by December 31, 2023.
However, there was a slight dip in the gross profit margin by the end of December 31, 2024, where it recorded 22.50%, slightly lower than the previous year. Despite this minor decline, the overall trend indicates an upward movement in the company's ability to generate profit from its core operations.
This positive trend in the gross profit margin suggests that Patrick Industries Inc has been effectively managing its production costs and pricing strategies, contributing to improved profitability over the years.
Peer comparison
Dec 31, 2024