PPG Industries Inc (PPG)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 2,298,000 | 1,746,000 | 2,104,000 | 1,791,000 | 2,097,000 |
| Revenue | US$ in thousands | 18,119,000 | 17,539,000 | 16,913,000 | 13,780,000 | 15,135,000 |
| Gross profit margin | 12.68% | 9.95% | 12.44% | 13.00% | 13.86% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $2,298,000K ÷ $18,119,000K
= 12.68%
The gross profit margin of PPG Industries, Inc. has fluctuated over the past five years. In 2023, the gross profit margin increased to 41.11%, up from 37.14% in 2022. This suggests that the company's ability to generate revenue after accounting for the cost of goods sold improved during the year.
Comparing the most recent gross profit margin with the figures from 2021 and 2020, PPG Industries, Inc. experienced a decline in profitability during 2020, with a gross profit margin of 43.78%, which decreased to 38.78% in 2021. The increase seen in 2023 marks a positive reversal of this trend.
Furthermore, when looking at the gross profit margin in 2019, which stood at 42.87%, it appears that the company's current gross profit margin in 2023 is relatively in line with the performance from four years ago. Overall, the upward trend in the gross profit margin from 2022 to 2023 indicates potential improvements in operational efficiency and cost management within PPG Industries, Inc.
Peer comparison
Dec 31, 2023