Tootsie Roll Industries Inc (TR)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 256,840 | 232,731 | 199,241 | 170,361 | 197,016 |
| Revenue | US$ in thousands | 766,225 | 688,173 | 571,397 | 472,151 | 529,311 |
| Gross profit margin | 33.52% | 33.82% | 34.87% | 36.08% | 37.22% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $256,840K ÷ $766,225K
= 33.52%
The gross profit margin of Tootsie Roll Industries, Inc. has exhibited a declining trend over the past five years, from 37.38% in 2019 to 33.38% in 2023. This indicates that the company's profitability on sales has decreased over time. Factors such as increasing costs of goods sold or pricing pressure from competitors may have contributed to this decline. A lower gross profit margin may suggest that Tootsie Roll Industries is facing challenges in maintaining its profitability at the gross profit level, which could impact its overall financial performance if not addressed effectively. Further analysis of the company's cost structure, pricing strategy, and operational efficiency may be necessary to better understand the reasons behind this trend and identify potential areas for improvement.
Peer comparison
Dec 31, 2023