Sonoco Products Company (SON)
Gross profit margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 1,435,654 | 1,409,939 | 1,412,829 | 1,442,512 | 1,439,649 | 1,389,337 | 1,279,922 | 1,155,574 | 1,061,910 | 1,073,041 | 1,072,320 | 1,057,650 | 1,046,339 | 1,018,470 | 1,026,945 | 1,054,298 | 1,057,829 | 1,065,250 | 1,059,401 | 1,060,525 |
| Revenue (ttm) | US$ in thousands | 6,825,810 | 6,976,700 | 7,162,630 | 7,381,000 | 7,401,430 | 7,143,520 | 6,683,310 | 6,138,990 | 5,719,930 | 5,619,660 | 5,509,310 | 5,390,170 | 5,348,310 | 5,297,960 | 5,341,660 | 5,458,660 | 5,502,880 | 5,562,970 | 5,575,100 | 5,598,550 |
| Gross profit margin | 21.03% | 20.21% | 19.73% | 19.54% | 19.45% | 19.45% | 19.15% | 18.82% | 18.57% | 19.09% | 19.46% | 19.62% | 19.56% | 19.22% | 19.23% | 19.31% | 19.22% | 19.15% | 19.00% | 18.94% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,435,654K ÷ $6,825,810K
= 21.03%
The gross profit margin of Sonoco Products Co. has shown a consistent improvement over the past eight quarters, gradually increasing from 19.23% in Q1 2022 to 21.17% in Q4 2023. This indicates that the company has been able to effectively manage its production costs and generate higher profits from its core business operations. The steady upward trend in the gross profit margin reflects positively on Sonoco's operational efficiency and ability to maintain profitability amidst changing market conditions. It suggests that the company may have implemented cost-saving measures or improved pricing strategies to enhance its profitability over time. Overall, the improving gross profit margin trend for Sonoco Products Co. indicates a positive financial performance and effective management of its cost structure.
Peer comparison
Dec 31, 2023