JM Smucker Company (SJM)
Gross profit margin
| Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 3,115,400 | 2,994,500 | 2,927,200 | 2,904,100 | 2,801,800 | 2,676,100 | 2,603,400 | 2,613,800 | 2,700,700 | 2,769,700 | 2,896,000 | 3,002,700 | 3,138,700 | 3,191,400 | 3,142,000 | 3,077,800 | 3,002,000 | 2,906,000 | 2,919,800 | 2,937,100 |
| Revenue (ttm) | US$ in thousands | 8,176,400 | 8,203,900 | 8,216,100 | 8,468,800 | 8,522,300 | 8,352,500 | 8,192,500 | 8,062,500 | 8,066,900 | 7,949,900 | 7,991,000 | 7,978,100 | 8,091,800 | 8,235,300 | 8,087,600 | 7,987,200 | 7,746,000 | 7,556,100 | 7,525,500 | 7,543,400 |
| Gross profit margin | 38.10% | 36.50% | 35.63% | 34.29% | 32.88% | 32.04% | 31.78% | 32.42% | 33.48% | 34.84% | 36.24% | 37.64% | 38.79% | 38.75% | 38.85% | 38.53% | 38.76% | 38.46% | 38.80% | 38.94% |
April 30, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $3,115,400K ÷ $8,176,400K
= 38.10%
The gross profit margin of JM Smucker Company has exhibited a fluctuating trend over the past 20 quarters. The company's gross profit margin has ranged from a low of 31.78% in October 2022 to a high of 38.94% in July 2019. Overall, there appears to be a general increasing trend in the gross profit margin from 2019 to 2021, with margin levels hovering around the mid to high 30% range. Subsequently, there was a slight decline in early 2022, followed by a recovery in mid-2022 before another decline in the most recent quarter ending April 30, 2024.
Analyzing the changes in the gross profit margin can provide insights into the company's pricing strategy, production efficiency, and competition within the industry. Fluctuations in the gross profit margin may be attributed to changes in input costs, pricing strategies, sales mix, or operational efficiencies. Further analysis of the underlying factors affecting the gross profit margin in each period may reveal valuable information about JM Smucker Company's financial performance and prospects.