Upbound Group Inc. (UPBD)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 2,022,260 | 2,079,530 | 2,235,010 | 1,672,150 | 1,644,070 |
| Revenue | US$ in thousands | 3,992,410 | 4,245,390 | 4,583,450 | 2,814,190 | 2,669,850 |
| Gross profit margin | 50.65% | 48.98% | 48.76% | 59.42% | 61.58% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $2,022,260K ÷ $3,992,410K
= 50.65%
The gross profit margin of Upbound Group Inc. has shown fluctuations over the past five years. In 2023, the gross profit margin increased to 50.65% from 48.98% in 2022, indicating an improvement in the company's ability to generate profits from its revenue after accounting for the cost of goods sold.
However, compared to 2021 and prior years, the gross profit margin in 2023 is still relatively lower. In 2020 and 2019, the company achieved higher gross profit margins of 59.42% and 61.58%, respectively.
The declining trend in gross profit margin from 2019 to 2023 may indicate potential challenges in managing the cost of goods sold or competitive pricing pressures impacting the company's profitability on sales.
Overall, the upward trend in 2023 compared to 2022 is a positive sign, but it may be beneficial for Upbound Group Inc. to closely monitor and address factors affecting its gross profit margin to ensure sustainable profitability in the future.
Peer comparison
Dec 31, 2023