YETI Holdings Inc (YETI)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,063,280 | 943,186 | 763,401 | 816,113 | 628,803 |
| Revenue | US$ in thousands | 1,829,870 | 1,658,710 | 1,595,220 | 1,410,990 | 1,091,720 |
| Gross profit margin | 58.11% | 56.86% | 47.86% | 57.84% | 57.60% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,063,280K ÷ $1,829,870K
= 58.11%
Based on the provided data, the gross profit margin of YETI Holdings Inc has fluctuated over the years. In December 31, 2020, the gross profit margin was 57.60%, demonstrating a strong profitability on the company's products after accounting for its cost of goods sold. This margin slightly increased to 57.84% by December 31, 2021, indicating a sustained level of profitability.
However, in December 31, 2022, there was a notable decrease in the gross profit margin to 47.86%. This decline may suggest challenges related to increased costs or pricing pressures impacting the company's ability to retain as much profit on each sale.
The trend reversed in December 31, 2023, with the gross profit margin improving to 56.86%, indicating a potential successful implementation of cost-saving measures or pricing adjustments to enhance profitability.
By December 31, 2024, the gross profit margin increased even further to 58.11%, surpassing the levels seen in previous years. This improvement suggests that YETI Holdings Inc has been effectively managing its costs and maintaining a strong pricing strategy to enhance its gross profitability.
Overall, while there have been fluctuations in the gross profit margin of YETI Holdings Inc over the years, the company has shown a capacity to adapt to changing market conditions and maintain a reasonable level of profitability on its products.
Peer comparison
Dec 31, 2024