Patrick Industries Inc (PATK)
Gross profit margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 788,794 | 760,868 | 747,473 | 750,425 | 762,632 | 804,369 | 822,932 | 940,068 | 1,041,169 | 1,067,155 | 1,057,634 | 935,007 | 801,194 | 716,488 | 641,824 | 511,068 | 459,017 | 416,026 | 386,864 | 425,804 |
| Revenue (ttm) | US$ in thousands | 3,715,679 | 3,650,743 | 3,597,372 | 3,501,437 | 3,468,045 | 3,638,773 | 3,884,790 | 4,439,795 | 4,881,875 | 5,077,440 | 5,025,530 | 4,569,790 | 4,078,093 | 3,703,226 | 3,343,753 | 2,747,848 | 2,486,597 | 2,263,444 | 2,128,923 | 2,318,096 |
| Gross profit margin | 21.23% | 20.84% | 20.78% | 21.43% | 21.99% | 22.11% | 21.18% | 21.17% | 21.33% | 21.02% | 21.05% | 20.46% | 19.65% | 19.35% | 19.19% | 18.60% | 18.46% | 18.38% | 18.17% | 18.37% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $788,794K ÷ $3,715,679K
= 21.23%
The gross profit margin of Patrick Industries Inc has shown a fluctuating trend over the past few years, indicating changes in the company's ability to generate profit from its core operations.
From March 31, 2020, to December 31, 2021, the gross profit margin remained relatively stable, ranging between 18.17% and 19.65%. However, starting from March 31, 2022, there was a noticeable improvement in the gross profit margin, reaching a peak of 22.11% by September 30, 2023. This upward trend suggests that the company may have implemented strategies to enhance its operational efficiency and profitability during this period.
Subsequently, the gross profit margin decreased slightly but remained relatively strong, hovering around the range of 20.78% to 21.43% from March 31, 2024, to June 30, 2024. The slight fluctuations in the gross profit margin during this period could be attributed to various factors affecting the company's cost of goods sold and revenue generation.
Overall, the improving trend in the gross profit margin from 2022 to 2023 reflects positively on Patrick Industries Inc's ability to manage its production costs effectively and enhance profitability from its sales activities. Continued monitoring and analysis of the gross profit margin will be essential to assess the company's operational performance and financial health in the future.
Peer comparison
Dec 31, 2024