QAF (SGX:Q01) Gross Margin % : 47.08% (As of Dec. 2023)

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What is QAF Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. QAF's Gross Profit for the six months ended in Dec. 2023 was S$153.9 Mil. QAF's Revenue for the six months ended in Dec. 2023 was S$327.0 Mil. Therefore, QAF's Gross Margin % for the quarter that ended in Dec. 2023 was 47.08%.

The historical rank and industry rank for QAF's Gross Margin % or its related term are showing as below:

SGX:Q01' s Gross Margin % Range Over the Past 10 Years
Min: 45.48 Med: 47.5 Max: 50
Current: 46.38

During the past 13 years, the highest Gross Margin % of QAF was 50.00%. The lowest was 45.48%. And the median was 47.50%.

SGX:Q01's Gross Margin % is ranked better than
82.68% of 1807 companies
in the Consumer Packaged Goods industry
Industry Median: 25.08 vs SGX:Q01: 46.38

QAF had a gross margin of 47.08% for the quarter that ended in Dec. 2023 => Durable competitive advantage

The 5-Year average Growth Rate of Gross Margin for QAF was -0.30% per year.

QAF Gross Margin % Historical Data

The historical data trend for QAF's Gross Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

QAF Gross Margin % Chart

QAF Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

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47.55

50.00

47.45

45.48

46.38

QAF Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Gross Margin %	Get a 7-Day Free Trial															46.62	45.12	45.80	45.62	47.08

Competitive Comparison of QAF's Gross Margin %

For the Packaged Foods subindustry, QAF's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

QAF's Gross Margin % Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, QAF's Gross Margin % distribution charts can be found below:

* The bar in red indicates where QAF's Gross Margin % falls into.

QAF Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

QAF's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )	=	Gross Profit (A: Dec. 2023 )	/	Revenue (A: Dec. 2023 )
	=	291.5	/	628.59
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(628.59 - 337.066)	/	628.59
	=	46.38 %

QAF's Gross Margin for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	153.9	/	326.965
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(326.965 - 173.033)	/	326.965
	=	47.08 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

QAF (SGX:Q01) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

QAF had a gross margin of 47.08% for the quarter that ended in Dec. 2023 => Durable competitive advantage

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

QAF Gross Margin % Related Terms

Thank you for viewing the detailed overview of QAF's Gross Margin % provided by GuruFocus.com. Please click on the following links to see related term pages.

QAF (SGX:Q01) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » QAF Ltd (SGX:Q01) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

N/A

Address

150 South Bridge Road, No. 09-03 Fook Hai Building, Singapore, SGP, 058727

Website

https://www.qaf.com.sg

QAF Ltd is a Singapore-based company engaged in the manufacturing and distribution of packaged loaf bread, pastries, and bakery products in Singapore, Malaysia, the Philippines, Australia, and other countries. It operates in four segments Bakery, which manufactures and distributes bread, confectionery, and bakery products, Distribution & warehousing segment includes trading and distribution of food and beverage products and provision for warehousing logistics for food items, Primary production include production, processing, and marketing of meat feed milling and sale of animal feeds and related ingredients and Investments & others. Geographically, it generates the majority of its revenue from Bakery and Geographic revenue from the Philippines.

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