Ingles Markets (Ingles Markets) Gross Margin % : 23.55% (As of Dec. 2023)

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What is Ingles Markets Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Ingles Markets's Gross Profit for the three months ended in Dec. 2023 was $349 Mil. Ingles Markets's Revenue for the three months ended in Dec. 2023 was $1,481 Mil. Therefore, Ingles Markets's Gross Margin % for the quarter that ended in Dec. 2023 was 23.55%.

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

IMKTA' s Gross Margin % Range Over the Past 10 Years
Min: 22.03 Med: 24.2 Max: 26.13
Current: 23.51

During the past 13 years, the highest Gross Margin % of Ingles Markets was 26.13%. The lowest was 22.03%. And the median was 24.20%.

IMKTA's Gross Margin % is ranked better than
52.9% of 310 companies
in the Retail - Defensive industry
Industry Median: 22.835 vs IMKTA: 23.51

Ingles Markets had a gross margin of 23.55% for the quarter that ended in Dec. 2023 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for Ingles Markets was 0.20% per year.

Ingles Markets Gross Margin % Historical Data

The historical data trend for Ingles Markets'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.

Ingles Markets Gross Margin % Chart

Ingles Markets Annual Data

Trend

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Gross Margin %

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24.32

25.99

26.13

24.93

23.84

Ingles Markets Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Gross Margin %	Get a 7-Day Free Trial															24.85	23.61	23.58	23.33	23.55

Competitive Comparison of Ingles Markets's Gross Margin %

For the Grocery Stores subindustry, Ingles Markets'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.

Ingles Markets's Gross Margin % Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Ingles Markets's Gross Margin % distribution charts can be found below:

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

Ingles Markets Gross Margin % Calculation

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

Ingles Markets's Gross Margin for the fiscal year that ended in Sep. 2023 is calculated as

Gross Margin % (A: Sep. 2023 )	=	Gross Profit (A: Sep. 2023 )	/	Revenue (A: Sep. 2023 )
	=	1404.9	/	5892.782
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(5892.782 - 4487.867)	/	5892.782
	=	23.84 %

Ingles Markets'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 )
	=	348.8	/	1481.062
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(1481.062 - 1132.261)	/	1481.062
	=	23.55 %

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.

Ingles Markets (NAS:IMKTA) 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

Ingles Markets had a gross margin of 23.55% for the quarter that ended in Dec. 2023 => 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.

Ingles Markets Gross Margin % Related Terms

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Ingles Markets (Ingles Markets) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Retail - Defensive » Ingles Markets Inc (NAS:IMKTA) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

IN3A:Germany

Address

2913 U.S. Highway 70 West, Black Mountain, NC, USA, 28711

Website

https://www.ingles-markets.com

Ingles Markets Inc is a U.S.-based company that is principally engaged in operating a supermarket chain. The company operates the business in the southeast United States, mainly in Georgia, North Carolina, South Carolina, and Tennessee, with a few stores in Virginia and Alabama as well. The company locates its stores majorly in suburban areas, small towns, and neighborhood areas. It offers a broad range of goods, including food products, pharmacies, health and beauty care products, and general merchandise. The retail business contributes the majority of the company's revenue. The company's real estate ownership of a material portion of total stores enables it to generate rental income.

Executives

Sharp Laura Ingle	director	2913 U.S. HWY. 70 WEST, BLACK MOUNTAIN NC 28711
Michael David Hogan	officer: President of Subsidiary Milkco	C/O INGLES MARKETS, INCORPORATED, P.O. BOX 6676, ASHEVILLE NC 28816
Patricia Jackson	officer: CFO	P.O. BOX 6676, ASHEVILLE NC 28816
James W Lanning	director, officer: President, other: Profit Sharing Plan Trustee
John R Lowden	director	140 GREENWICH AVE, GREENWICH CT 06830
Ernest E. Ferguson	director	P.O. BOX 6676, ASHEVILLE NC 28816
Fred Ayers	director	2913 US HIGHWAY 70 WEST, BLACK MOUNTAIN NC 28711
Brenda S Tudor	director, officer: VP Finance, Treasurer, CFO
L. Keith Collins	director	P.O. BOX 6676, ASHEVILLE NC 28816
Laura Anne Laxton Ingle 2011 Irrevocable Trust Dated September 8, 2011	10 percent owner	P.O. BOX 6676, ASHEVILLE NC 28816
Robert Ingle, Sr. Administrative Trust Uta Robert Pierce Ingle Living Trust Dated December 24, 2010	10 percent owner	2913 US HIGHWAY 70 WEST, BLACK MOUNTAIN NC 28711
Robert P Ingle	director, officer: Chairman and CEO, other: Profit Sharing Plan Trustee
Ingles Markets Inc Investment/profit Sharing Plan Trust	10 percent owner
Ronald B Freeman	director, officer: Chief Financial Officer, other: Profit Sharing Plan Trustee	P.O. BOX 6676, ASHEVILLE NC 28816
Ingle Robert P Ii	director, officer: VP - Operations	PO BOX 6676, ASHEVILLE NC 28816