Myers Industries (Myers Industries) Gross Margin % : 29.95% (As of Dec. 2023)

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What is Myers Industries Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Myers Industries's Gross Profit for the three months ended in Dec. 2023 was $57.2 Mil. Myers Industries's Revenue for the three months ended in Dec. 2023 was $191.1 Mil. Therefore, Myers Industries's Gross Margin % for the quarter that ended in Dec. 2023 was 29.95%.

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

MYE' s Gross Margin % Range Over the Past 10 Years
Min: 25.86 Med: 31.15 Max: 33.69
Current: 31.87

During the past 13 years, the highest Gross Margin % of Myers Industries was 33.69%. The lowest was 25.86%. And the median was 31.15%.

MYE's Gross Margin % is ranked better than
78.05% of 369 companies
in the Packaging & Containers industry
Industry Median: 21.6 vs MYE: 31.87

Myers Industries had a gross margin of 29.95% for the quarter that ended in Dec. 2023 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for Myers Industries was -0.90% per year.

Myers Industries Gross Margin % Historical Data

The historical data trend for Myers Industries'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.

Myers Industries Gross Margin % Chart

Myers Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

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33.22

33.69

27.77

31.50

31.87

Myers Industries 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															30.57	32.94	32.82	31.54	29.95

Competitive Comparison of Myers Industries's Gross Margin %

For the Packaging & Containers subindustry, Myers Industries'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.

Myers Industries's Gross Margin % Distribution in the Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Myers Industries's Gross Margin % distribution charts can be found below:

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

Myers Industries Gross Margin % Calculation

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

Myers Industries'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 )
	=	259.1	/	813.067
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(813.067 - 553.981)	/	813.067
	=	31.87 %

Myers Industries'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 )
	=	57.2	/	191.077
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(191.077 - 133.845)	/	191.077
	=	29.95 %

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.

Myers Industries (NYSE:MYE) 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

Myers Industries had a gross margin of 29.95% 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.

Myers Industries Gross Margin % Related Terms

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

Myers Industries (Myers Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Packaging & Containers » Myers Industries Inc (NYSE:MYE) » Definitions » Gross Margin %

Comparable Companies

PACK TRS KRT VKSC YHGJ MGIH DSS OCTO AMBP OI BALL AVY PKG AMCR IP WRK DUB:SK3 CCK TSX:CCL.A GPK

Traded in Other Exchanges

MJF:Germany

Address

1293 South Main Street, Akron, OH, USA, 44301

Website

https://www.myersindustries.com

Myers Industries Inc is a plastic manufacturer of returnable packaging, storage and safety products and specialty molding. It manufactures a range of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. It operates through the following segments: The Material Handling segment, which designs manufactures and markets a variety of plastic and metal products. The Distribution segment offers tools, equipment, and supplies used for tire, wheel, and under-vehicle service on passenger, heavy truck, and off-road vehicles.

Executives

Yvette Dapremont Bright	director	739 WESTVIEW STREET, PHILADELPHIA PA 19119
Michael P. Mcgaugh	director, officer: President and CEO	1293 SOUTH MAIN STREET, AKRON OH 44301
Fitz E Grant	officer: EVP & CFO	C/O BLINK CHARGING CO., 407 LINCOLN ROAD, SUITE 704, MIAMI BEACH FL 33139
Lori A. Lutey	director	3101 PACKERLAND DRIVE, GREEN BAY WI 54313
Jeffrey Kramer	director	C/O SCHWEITZER-MAUDUIT INTERNT'L, INC., SUITE 600, ALPHARETTA GA 30022
Liebau Frederic Jack Jr	director	P.O. BOX 2200, PASADENA CA 91102-2200
William A Foley	director	P O BOX 10060, TOLEDO OH 436990060
Monica P. Vinay	officer: Interim CFO, VP and Treasurer	1293 SOUTH MAIN STREET, AKRON OH 44301
Bruce M Lisman	director	C/O MERCHANTS BANK, 275 KENNEDY DR, S. BURLINGTON VT 05403
Ronald M Defeo	director	600 GRANT STREET, SUITE 5100, PITTSBURGH PA 15219
Jim Gurnee	officer: VP Sales/Marketing/Commercial	1293 S MAIN ST, AKRON OH 44301
Paul Allan Johnson	officer: VP, Distribution Segment	1293 SOUTH MAIN STREET, AKRON OH 44301
Jeffrey Jon Baker	officer: VP, Shared Services	1293 SOUTH MAIN STREET, AKRON OH 44301
Sarah R Coffin	director	31515 BALLANTYNE CORP, C/O SPX CORP, CHARLOTTE NC 28277
Sonal P. Robinson	officer: EVP, Finance	1293 SOUTH MAIN STREET, AKRON OH 44301