Xpel Inc (XPEL)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 177,360 | 162,414 | 127,512 | 92,677 | 54,025 |
| Revenue | US$ in thousands | 420,400 | 396,293 | 323,993 | 259,263 | 158,924 |
| Gross profit margin | 42.19% | 40.98% | 39.36% | 35.75% | 33.99% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $177,360K ÷ $420,400K
= 42.19%
The gross profit margin of Xpel Inc has shown a consistent upward trend over the years, indicating an improvement in the company's ability to generate profit from its sales after accounting for the cost of goods sold. From December 31, 2020, to December 31, 2024, the gross profit margin has increased from 33.99% to 42.19%. This suggests that Xpel Inc has been effectively managing its production costs and pricing strategies, ultimately leading to higher profitability per dollar of sales. The steady growth in gross profit margin reflects the company's efficiency in controlling direct costs and optimizing operational performance, which may indicate a positive outlook for its financial health and sustainability.