VF Corporation (VFC)

Gross profit margin

		Mar 31, 2024	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
Gross profit (ttm)	US$ in thousands	-73,074	686,134	1,029,722	563,314	615,162	273,948	459,408	1,148,276	1,336,171	1,159,431	907,447	679,407	254,827	2,123,798	2,290,231	2,568,184	2,865,711	4,211,761	4,248,930	4,327,386
Revenue (ttm)	US$ in thousands	10,184,130	10,558,980	11,142,770	11,214,850	11,421,180	11,537,730	11,647,950	11,764,430	11,695,020	11,354,050	10,739,450	10,184,120	9,100,770	8,757,870	8,941,450	9,514,190	10,488,550	10,743,540	10,571,120	10,393,120
Gross profit margin		-0.72%	6.50%	9.24%	5.02%	5.39%	2.37%	3.94%	9.76%	11.43%	10.21%	8.45%	6.67%	2.80%	24.25%	25.61%	26.99%	27.32%	39.20%	40.19%	41.64%

March 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $-73,074K ÷ $10,184,130K
= -0.72%

The gross profit margin of VF Corporation has displayed fluctuations over the past several quarters. The margin declined significantly to -0.72% in March 2024, showing a negative trend. This decrease follows a trend of improving margins from December 2022 to September 2023, reaching a high of 9.24%. However, the margin dropped to 5.02% in June 2023, before slightly rebounding to 5.39% in March 2023.

The company's performance in the first half of 2022 showed a relatively stable gross profit margin, hovering around the 9-12% range. The margin peaked at 11.43% in March 2022, but slightly decreased to 10.21% by December 2021. Prior to that, the margin was relatively consistent, ranging from 6.67% to 10.21% throughout 2021.

In earlier periods, VF Corporation demonstrated impressive gross profit margins, particularly in the second half of 2020 and the first half of 2021, with margins exceeding 24%. The margin peaked at 41.64% in June 2019, which was followed by a gradual decline in subsequent periods.

Overall, the gross profit margin of VF Corporation has shown variability over the quarters, with periods of both growth and decline. It is important for investors and analysts to closely monitor these fluctuations to assess the company's operational efficiency and profitability.