WEC Energy Group Inc (WEC)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,785,900 | 3,601,300 | 3,300,500 | 2,999,500 | 2,890,000 |
| Revenue | US$ in thousands | 8,599,900 | 8,893,000 | 9,597,400 | 8,316,000 | 7,241,700 |
| Gross profit margin | 44.02% | 40.50% | 34.39% | 36.07% | 39.91% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,785,900K ÷ $8,599,900K
= 44.02%
The gross profit margin of WEC Energy Group Inc has shown some fluctuations over the years based on the provided data.
- As of December 31, 2020, the gross profit margin stood at 39.91%. This indicates that the company was able to generate a gross profit of 39.91% of its revenue, after accounting for the cost of goods sold.
- By December 31, 2021, the gross profit margin decreased to 36.07%, possibly signifying an increase in the cost of goods sold relative to revenue.
- Subsequently, by December 31, 2022, the gross profit margin declined further to 34.39%, which might indicate a tighter margin due to various factors such as pricing pressure or increasing costs.
- However, by December 31, 2023, there was a notable improvement in the gross profit margin, reaching 40.50%. This suggests that the company was able to generate a higher gross profit relative to revenue during this period.
- The most recent data point, as of December 31, 2024, shows a significant increase in the gross profit margin to 44.02%, indicating a strong performance in efficiently managing the cost of goods sold.
Overall, while the gross profit margin of WEC Energy Group Inc has experienced fluctuations, the recent trend showcases an improvement and potential for enhanced profitability through effective cost management strategies.
Peer comparison
Dec 31, 2024