Patrick Industries Inc (PATK)

Gross profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	782,233	804,369	841,701	958,837	1,059,938	1,085,924	1,057,634	935,007	801,194	716,488	641,824	511,068	459,017	416,026	386,864	425,804	422,871	420,209	422,529	424,660
Revenue (ttm)	US$ in thousands	3,467,453	3,638,773	3,884,790	4,439,795	4,886,925	5,082,490	5,030,580	4,574,840	4,076,324	3,701,457	3,341,984	2,746,079	2,484,874	2,261,721	2,127,200	2,316,373	2,335,411	2,317,162	2,326,115	2,317,776
Gross profit margin		22.56%	22.11%	21.67%	21.60%	21.69%	21.37%	21.02%	20.44%	19.65%	19.36%	19.20%	18.61%	18.47%	18.39%	18.19%	18.38%	18.11%	18.13%	18.16%	18.32%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $782,233K ÷ $3,467,453K
= 22.56%

The gross profit margin of Patrick Industries, Inc. has shown a generally upward trend over the past eight quarters, increasing from 20.46% in Q1 2022 to 22.56% in Q4 2023. This improvement indicates the company's ability to effectively manage its production and sales costs relative to its revenue generation. The consistent growth in gross profit margin suggests that Patrick Industries has been successful in controlling its direct costs and maintaining pricing power in its markets. It is worth noting that the margins have been relatively stable in recent quarters, indicating a level of consistency in the company's operations. Overall, the increasing trend and relatively stable margins reflect positively on the company's financial performance and operational efficiency.