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SHYF (The Shyft Group) Gross Margin % : 20.41% (As of Sep. 2024)


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What is The Shyft Group Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. The Shyft Group's Gross Profit for the three months ended in Sep. 2024 was $39.6 Mil. The Shyft Group's Revenue for the three months ended in Sep. 2024 was $194.1 Mil. Therefore, The Shyft Group's Gross Margin % for the quarter that ended in Sep. 2024 was 20.41%.


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

SHYF' s Gross Margin % Range Over the Past 10 Years
Min: 8.56   Med: 15.52   Max: 21.64
Current: 18.06


During the past 13 years, the highest Gross Margin % of The Shyft Group was 21.64%. The lowest was 8.56%. And the median was 15.52%.

SHYF's Gross Margin % is ranked worse than
73.17% of 205 companies
in the Farm & Heavy Construction Machinery industry
Industry Median: 24.14 vs SHYF: 18.06

The Shyft Group had a gross margin of 20.41% for the quarter that ended in Sep. 2024 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for The Shyft Group was 5.20% per year.


The Shyft Group Gross Margin % Historical Data

The historical data trend for The Shyft Group'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.

The Shyft Group Gross Margin % Chart

The Shyft Group Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Gross Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 15.47 21.64 20.09 17.57 17.24

The Shyft Group Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Gross Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 18.26 13.80 17.21 21.05 20.41

Competitive Comparison of The Shyft Group's Gross Margin %

For the Farm & Heavy Construction Machinery subindustry, The Shyft Group'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.


The Shyft Group's Gross Margin % Distribution in the Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, The Shyft Group's Gross Margin % distribution charts can be found below:

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



The Shyft Group Gross Margin % Calculation

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

The Shyft Group'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 )
=150.4 / 872.198
=(Revenue - Cost of Goods Sold) / Revenue
=(872.198 - 721.84) / 872.198
=17.24 %

The Shyft Group's Gross Margin for the quarter that ended in Sep. 2024 is calculated as


Gross Margin % (Q: Sep. 2024 )=Gross Profit (Q: Sep. 2024 ) / Revenue (Q: Sep. 2024 )
=39.6 / 194.075
=(Revenue - Cost of Goods Sold) / Revenue
=(194.075 - 154.468) / 194.075
=20.41 %

* 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.

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.


The Shyft Group  (NAS:SHYF) 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

The Shyft Group had a gross margin of 20.41% for the quarter that ended in Sep. 2024 => Competition eroding margins


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.


The Shyft Group Gross Margin % Related Terms

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


The Shyft Group Business Description

Traded in Other Exchanges
Address
41280 Bridge Street, Novi, MI, USA, 48375
The Shyft Group Inc is engaged in specialty vehicle manufacturing and assembly for commercial vehicles (including last-mile delivery, specialty service, and vocation-specific upfit segments) and recreational vehicle industries. Its products include walk-in vans, truck bodies, cargo vans, and pick-up truck upfits used in e-commerce/parcel delivery, upfit equipment used in the mobile retail and utility trades, as well as luxury Class A diesel motorhome custom chassis and contract manufacturing and assembly services. It also supplies replacement parts and offers repair, maintenance, field service, and refurbishment services for the vehicles that the company manufactures.
Executives
John Albert Dunn officer: President Fleet Vehicles & Svc C/O THE SHYFT GROUP, 41280 BRIDGE STREET, NOVI MI 48375
Joshua A Sherbin officer: Chief Legal Officer 38505 WOODWARD AVENUE, SUITE 200, BLOOMFIELD HILLS MI 48304
Jonathan C Douyard officer: Chief Financial Officer C/O SPARTAN MOTORS, INC., 41280 BRIDGE STREET, NOVI MI 48375
Michael Dinkins director 6166 NW 85TH WAY, PARKLAND FL 33067
Terri Pizzuto director 3050 HIGHLAND PARKWAY, STE 100, DOWNERS GROVA IL 60515
Pamela L Kermisch director C/O THE SHYFT GROUP, 41280 BRIDGE STREET, NOVI MI 48375
Mark B. Rourke director 3101 PACKERLAND DRIVE, GREEN BAY WI 54313
James A. Sharman director C/O SPARTAN MOTORS, INC., 1541 REYNOLDS ROAD, CHARLOTTE MI 48813
Jacob Owen Farmer officer: President, Specialty Vehicles C/O THE SHYFT GROUP, 41280 BRIDGE STREET, NOVI MI 48375
Stephen K Guillaume officer: President, Specialty Chassis C/O SPARTAN MOTORS, INC., 1541 REYNOLDS ROAD, CHARLOTTE MI 48813
Hindman Colin E officer: Chief Human Resources Officer 3130 STONEY CREEK ROAD, OAKLAND MI 48363
Scott Matthew Ocholik officer: Chief Accounting Officer C/O THE SHYFT GROUP, 41280 BRIDGE STREET, NOVI MI 48375
Carl A. Esposito director 21557 TELEGRAPH ROAD, SOUTHFIELD MI 48033
Thomas R Clevinger director C/O SPARTAN MOTORS, INC., 1541 REYNOLDS ROAD, CHARLOTTE MI 48813
Daryl M Adams officer: Chief Operating Officer C/O SPARTAN MOTORS, INC., 1541 REYNOLDS ROAD, CHARLOTTE MI 48813