Ufp Industries Inc (UFPI)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,418,940 | 1,789,460 | 1,406,970 | 800,296 | 685,518 |
| Revenue | US$ in thousands | 7,218,380 | 9,626,740 | 8,636,130 | 5,154,000 | 4,416,010 |
| Gross profit margin | 19.66% | 18.59% | 16.29% | 15.53% | 15.52% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,418,940K ÷ $7,218,380K
= 19.66%
Ufp Industries Inc's gross profit margin has shown a generally positive trend over the past five years. The company's gross profit margin increased from 15.52% in 2019 to 19.66% in 2023, indicating an improvement in the company's ability to generate profits from its sales after accounting for the cost of goods sold. This trend suggests that Ufp Industries has been effectively managing its production and pricing strategies to enhance profitability.
The steady growth in gross profit margin reflects the company's ability to control production costs and maintain pricing power. It also indicates that Ufp Industries may have achieved operational efficiencies and economies of scale over the years, allowing it to improve its margins.
Overall, the increasing trend in gross profit margin for Ufp Industries Inc demonstrates the company's strength in managing its cost structure and maximizing profitability from its core operations.