Vulcan Materials Company (VMC)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,948,500 | 1,557,700 | 1,373,400 | 1,281,500 | 1,255,900 |
| Revenue | US$ in thousands | 7,781,900 | 7,315,200 | 5,552,200 | 4,856,800 | 4,929,100 |
| Gross profit margin | 25.04% | 21.29% | 24.74% | 26.39% | 25.48% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,948,500K ÷ $7,781,900K
= 25.04%
Over the past five years, Vulcan Materials Co's gross profit margin has exhibited some fluctuation. The gross profit margin measures the proportion of revenue that exceeds the cost of goods sold, indicating the company's efficiency in managing production costs.
In 2023, Vulcan Materials Co's gross profit margin improved to 25.04% from 21.29% in 2022, marking a significant increase. This suggests the company was able to effectively control its production costs and generate more profit from its core operations.
Comparing to earlier years, the company's gross profit margin was slightly lower in 2021 at 24.74% and 2020 at 26.39%. However, both figures were relatively close to the 2023 margin. Additionally, the 2019 margin was similar to the 2023 margin, standing at 25.48%.
Overall, Vulcan Materials Co's gross profit margin has shown some variability over the past five years but has generally remained within a consistent range. This trend indicates the company's ability to maintain efficient production processes and manage costs effectively, contributing to its overall profitability.
Peer comparison
Dec 31, 2023