Ryder System Inc (R)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 10,276,000 | 10,526,000 | 8,578,330 | 7,477,220 | 7,997,710 |
| Revenue | US$ in thousands | 11,783,000 | 12,011,000 | 9,663,000 | 8,420,000 | 8,925,800 |
| Gross profit margin | 87.21% | 87.64% | 88.78% | 88.80% | 89.60% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $10,276,000K ÷ $11,783,000K
= 87.21%
The gross profit margin of Ryder System, Inc. has shown fluctuations over the past five years. The margin was 19.51% in 2023, slightly decreasing from 19.90% in 2022. In 2021, the margin was 18.64%, which was an increase compared to 15.15% in 2020 and 15.36% in 2019. Overall, the trend indicates a generally positive performance in managing the cost of goods sold relative to revenue, with some variations in recent years.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
Ryder System Inc
R
87.21%
Avis Budget Group Inc
CAR
71.90%
Hertz Global Holdings Inc
HTZ
7.99%