WEC Energy Group Inc (WEC)
Gross profit margin
| 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 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 5,341,900 | 5,125,600 | 4,955,500 | 4,857,100 | 4,812,200 | 4,879,900 | 4,876,400 | 4,838,400 | 4,745,100 | 5,538,100 | 5,516,700 | 5,472,300 | 5,423,100 | 5,437,200 | 5,395,900 | 5,388,400 | 5,386,800 | 5,516,100 | 5,512,100 | 5,540,400 |
| Revenue (ttm) | US$ in thousands | 8,893,000 | 9,233,900 | 9,279,500 | 9,577,400 | 9,597,400 | 9,240,900 | 8,984,400 | 8,532,700 | 8,316,000 | 8,047,500 | 7,952,000 | 7,824,500 | 7,241,700 | 7,255,800 | 7,212,800 | 7,254,300 | 7,523,100 | 7,652,400 | 7,688,100 | 7,770,400 |
| Gross profit margin | 60.07% | 55.51% | 53.40% | 50.71% | 50.14% | 52.81% | 54.28% | 56.70% | 57.06% | 68.82% | 69.38% | 69.94% | 74.89% | 74.94% | 74.81% | 74.28% | 71.60% | 72.08% | 71.70% | 71.30% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $5,341,900K ÷ $8,893,000K
= 60.07%
The gross profit margin of WEC Energy Group Inc has shown a general increasing trend over the past eight quarters, reflecting improvements in its profitability.
In Q4 2023, the gross profit margin reached 64.12%, marking a significant increase compared to the previous quarters. This suggests that the company effectively managed its cost of goods sold, resulting in a higher margin between revenue and the cost of producing goods or services.
The trend of increasing gross profit margin from Q1 2022 to Q4 2023 indicates that WEC Energy Group Inc has been able to enhance its operational efficiency and control costs effectively. This positive performance is favorable for the company's overall financial health and indicates strength in its core business operations.
Overall, the consistent improvement in the gross profit margin reflects positively on WEC Energy Group Inc's ability to generate profits from its core activities and suggests effective cost management strategies within the organization.
Peer comparison
Dec 31, 2023