Patrick Industries's gross profit for the
three
months ended in Mar. 2024 was $205 Mil. Patrick Industries's gross profit for the trailing twelve months (TTM) ended in Mar. 2024 was $793 Mil.
Patrick Industries had a gross margin of 21.95% for the quarter that ended in Mar. 2024 => Competition eroding margins
During the past 13 years, the highestGross Margin % of Patrick Industries was 22.64%. The lowest was 16.11%. And the median was 18.24%.
Patrick Industries Gross Profit Historical Data
The historical data trend for Patrick Industries's Gross Profit 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.
Competitive Comparison of Patrick Industries's Gross Profit
For the Furnishings, Fixtures & Appliances subindustry, Patrick Industries's Gross Profit, along with its competitors' market caps and Gross Profit 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.
Patrick Industries's Gross Profit Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Patrick Industries's Gross Profit distribution charts can be found below:
* The bar in red indicates where Patrick Industries's Gross Profit falls into.
Patrick Industries Gross Profit Calculation
Gross Profit is the different between the sale prices and the cost of buying or producing the goods.
Patrick Industries's Gross Profit for the fiscal year that ended in Dec. 2023 is calculated as
Gross Profit for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $793 Mil.
Gross Profit is the numerator in the calculation of Gross Margin.
* 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.
Patrick Industries (NAS:PATK) Gross Profit 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
Patrick Industries had a gross margin of 21.95% for the quarter that ended in Mar. 2024 => Competition eroding margins
Patrick Industries Gross Profit Related Terms
Thank you for viewing the detailed overview of Patrick Industries's Gross Profit provided by GuruFocus.com. Please click on the following links to see related term pages.
Patrick Industries (Patrick Industries) Business Description
Patrick Industries Inc makes and sells building products and materials for recreational vehicles and manufactured housing. The company is organized into two segments based on product type: manufacturing and distribution. The manufacturing segment, which generates the majority of revenue, sells laminated and vinyl products that include furniture, shelving, cabinets, bath fixtures, and countertops. The distribution segment sells prefinished wall and ceiling panels, as well as electrical and plumbing products for the RV and manufactured-housing industries. One of the firm's RV customers makes up a significant portion of revenue. Nearly all of Patrick Industries' revenue comes from North America.
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