YETI Holdings Inc (YETI)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 943,186 | 763,401 | 816,113 | 628,803 | 475,314 |
| Revenue | US$ in thousands | 1,658,710 | 1,595,220 | 1,410,990 | 1,091,720 | 913,734 |
| Gross profit margin | 56.86% | 47.86% | 57.84% | 57.60% | 52.02% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $943,186K ÷ $1,658,710K
= 56.86%
The gross profit margin of YETI Holdings Inc has shown some fluctuations over the past five years. In 2023, the gross profit margin improved significantly to 56.86% from 47.86% in 2022 but remained lower than the 2021 level of 57.84%. This improvement indicates that the company was able to generate more gross profit relative to its revenues in 2023 compared to the previous year. Despite this improvement, the gross profit margin in 2023 was still slightly lower than the 2020 figure of 57.60%. The company's gross profit margin has generally been on an upward trend since 2019 when it stood at 52.02%, reflecting the company's ability to effectively manage its production costs and pricing strategies in recent years.
Peer comparison
Dec 31, 2023