JM Smucker Company (SJM)
Gross profit margin
| Apr 30, 2024 | Apr 30, 2023 | Apr 30, 2022 | Apr 30, 2021 | Apr 30, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,115,400 | 2,801,800 | 2,700,700 | 3,138,700 | 3,002,000 |
| Revenue | US$ in thousands | 8,176,400 | 8,522,300 | 8,066,900 | 8,091,800 | 7,763,000 |
| Gross profit margin | 38.10% | 32.88% | 33.48% | 38.79% | 38.67% |
April 30, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,115,400K ÷ $8,176,400K
= 38.10%
Over the past five years, JM Smucker Company's gross profit margin has exhibited some fluctuations. In the most recent fiscal year ending April 30, 2024, the company's gross profit margin improved to 38.10% from 32.88% in the previous year. This indicates a positive trend in the company's ability to generate profits from its revenue after accounting for the cost of goods sold.
Comparing the gross profit margin to the earlier years, we see some variability. In fiscal year 2021, the gross profit margin was relatively high at 38.79%, but it decreased slightly to 38.67% in 2020 before experiencing a more significant drop in 2022 to 33.48%. The recent improvement in the gross profit margin suggests that the company may have implemented cost-saving measures, improved operational efficiencies, or managed its pricing strategies effectively to enhance profitability.
Overall, while there have been fluctuations in JM Smucker Company's gross profit margin over the past five years, the recent increase to 38.10% indicates a positive trajectory in the company's profitability and financial performance.