Autohome (BSP:A1TH34) Gross Margin %

: 80.40% (As of Sep. 2023)

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Gross Margin % is calculated as gross profit divided by its revenue. Autohome's Gross Profit for the three months ended in Sep. 2023 was R$1,037 Mil. Autohome's Revenue for the three months ended in Sep. 2023 was R$1,290 Mil. Therefore, Autohome's Gross Margin % for the quarter that ended in Sep. 2023 was 80.40%.

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

BSP:A1TH34' s Gross Margin % Range Over the Past 10 Years
Min: 59.86 Med: 82.16 Max: 88.9
Current: 80.33

During the past 14 years, the highest Gross Margin % of Autohome was 88.90%. The lowest was 59.86%. And the median was 82.16%.

BSP:A1TH34's Gross Margin % is ranked better than
68.85% of 520 companies
in the Interactive Media industry
Industry Median: 60.895 vs BSP:A1TH34: 80.33

Autohome had a gross margin of 80.40% for the quarter that ended in Sep. 2023 => Durable competitive advantage

The 5-Year average Growth Rate of Gross Margin for Autohome was 0.40% per year.

Autohome Gross Margin % Historical Data

The historical data trend for Autohome'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.

Autohome Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

88.60

88.90

85.52

82.20

80.35

Autohome Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Gross Margin %																80.42	77.82	81.98	80.40	80.75

Competitive Comparison

For the Internet Content & Information subindustry, Autohome'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.

Autohome Gross Margin % Distribution

For the Interactive Media industry and Communication Services sector, Autohome's Gross Margin % distribution charts can be found below:

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

Autohome Gross Margin % Calculation

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

Autohome's Gross Margin for the fiscal year that ended in Dec. 2022 is calculated as

Gross Margin % (A: Dec. 2022 )	=	Gross Profit (A: Dec. 2022 )	/	Revenue (A: Dec. 2022 )
	=	4292.8	/	5222.172
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(5222.172 - 929.325)	/	5222.172
	=	82.20 %

Autohome's Gross Margin for the quarter that ended in Sep. 2023 is calculated as

Gross Margin % (Q: Sep. 2023 )	=	Gross Profit (Q: Sep. 2023 )	/	Revenue (Q: Sep. 2023 )
	=	1037.1	/	1289.866
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(1289.866 - 252.793)	/	1289.866
	=	80.40 %

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.

Autohome (BSP:A1TH34) 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

Autohome had a gross margin of 80.40% for the quarter that ended in Sep. 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.

Autohome Gross Margin % Related Terms

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Autohome (BSP:A1TH34) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Interactive Media » Autohome Inc (BSP:A1TH34) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

ATHM:USA 02518:Hong Kong 8AHB:Germany

Address

3 Dan Ling Street, 18th Floor, Tower B, CEC Plaza, Haidian District, Beijing, CHN, 100080

Website

https://ir.autohome.com.cn

Founded in 2008 as a media content platform, Autohome is the leading online automobile platform in China, ranking first among automotive service platforms in terms of mobile daily active users, according to QuestMobile. Through its two websites, autohome.com.cn and che168.com, Autohome delivers comprehensive, independent and interactive content and tools to automobile consumers as well as a full suite of services to automakers and dealers. According to iResearch, the company was the largest online automotive advertising and lead generation service provider with 30% market share, in terms of media services and lead generation revenue, in China's online auto platform media advertising market in 2019.

Autohome (BSP:A1TH34) Headlines

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