Snap-On Inc (SNA)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 5,015,600 | 4,771,400 | 4,520,700 | 3,822,900 | 3,956,700 |
| Revenue | US$ in thousands | 5,108,300 | 4,842,500 | 4,601,700 | 3,942,200 | 4,067,700 |
| Gross profit margin | 98.19% | 98.53% | 98.24% | 96.97% | 97.27% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $5,015,600K ÷ $5,108,300K
= 98.19%
The gross profit margin of Snap-On Inc has remained consistently high over the past five years, with the latest figure standing at 98.19% as of December 31, 2023. This indicates that the company is effectively managing its production costs and pricing strategies to generate a substantial margin on its sales. The slight fluctuation in the gross profit margin between 2021 and 2023 suggests a stable performance in maintaining profitability. High gross profit margins are generally favorable as they signify efficient operations and the ability to generate strong profits from sales. Overall, Snap-On Inc's gross profit margin demonstrates sound financial management and a competitive position in its industry.
Peer comparison
Dec 31, 2023