Patrick Industries (Patrick Industries) Gross Margin %

: 22.90% (As of Dec. 2023)

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Gross Margin % is calculated as gross profit divided by its revenue. Patrick Industries's Gross Profit for the three months ended in Dec. 2023 was $179 Mil. Patrick Industries's Revenue for the three months ended in Dec. 2023 was $781 Mil. Therefore, Patrick Industries's Gross Margin % for the quarter that ended in Dec. 2023 was 22.90%.

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

PATK' s Gross Margin % Range Over the Past 10 Years
Min: 16.11 Med: 18.24 Max: 22.56
Current: 22.56

During the past 13 years, the highest Gross Margin % of Patrick Industries was 22.56%. The lowest was 16.11%. And the median was 18.24%.

PATK's Gross Margin % is ranked worse than
70.69% of 406 companies
in the Furnishings, Fixtures & Appliances industry
Industry Median: 28.565 vs PATK: 22.56

Patrick Industries had a gross margin of 22.90% for the quarter that ended in Dec. 2023 => Competition eroding margins

The 5-Year average Growth Rate of Gross Margin for Patrick Industries was 4.80% per year.

Patrick Industries Gross Margin % Historical Data

The historical data trend for Patrick 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.

Patrick Industries Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

18.09

18.46

19.65

21.71

22.56

Patrick 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 %																21.12	21.58	22.81	22.99	22.90

Competitive Comparison

For the Furnishings, Fixtures & Appliances subindustry, Patrick 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.

Patrick Industries Gross Margin % Distribution

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Patrick Industries's Gross Margin % distribution charts can be found below:

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

Patrick Industries Gross Margin % Calculation

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

Patrick 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 )
	=	782.2	/	3468.045
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(3468.045 - 2685.812)	/	3468.045
	=	22.56 %

Patrick 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 )
	=	178.9	/	781.187
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(781.187 - 602.285)	/	781.187
	=	22.90 %

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 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

Patrick Industries had a gross margin of 22.90% 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.

Patrick Industries Gross Margin % Related Terms

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Patrick Industries (Patrick Industries) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Patrick Industries Inc (NAS:PATK) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

PK2:Germany

Address

107 West Franklin Street, P.O. Box 638, Elkhart, IN, USA, 46515

Website

https://www.patrickind.com

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.

Executives

Andy L Nemeth	director, officer: President	C/O PATRICK INDUSTRIES, INC.,, P.O. BOX 638, ELKHART IN 46515-0638
Kip B Ellis	officer: EVP Operations & COO	107 W. FRANKLIN STREET, P.O. BOX 638, ELKHART IN 46515
Jeff Rodino	officer: EVP-Sales, Chief Sales Officer	107 W. FRANKLIN STREET, P.O.BOX 638, ELKHART IN 46515
Todd M Cleveland	director, officer: CEO	107 W. FRANKLIN ST., ELKHART IN 46515
Derrick B Mayes	director	107 W. FRANKLIN STREET, PO BOX 638, ELKHART IN 46515
Matthew S Filer	officer: Interim CFO, Treasurer & PAO	107 W. FRANKLIN STREET, PO BOX 638, ELKHART IN 46515
M Scott Welch	director	6 LONGWOOD COURT, ELKHART IN 46516
Stacey L Neu	officer: EVP & CHRO	C/O SPECTRUM BRANDS HOLDINGS, INC., 3001 DEMING WAY, MIDDLETON WI 53562
Michael A Kitson	director	107 W. FRANKLIN STREET, P.O. BOX 638, ELKHART IN 46515
Pamela R Klyn	director	107 W. FRANKLIN STREET, PO BOX 638, ELKHART IN 46515
Joel D Duthie	officer: Chief Legal Officer/Secretary	107 W. FRANKLIN STREET, PO BOX 638, ELKHART IN 46515
Blosser Courtney	officer: Chief Human Resource Officer	107 W. FRANKLIN STREET, P.O.BOX 638, ELKHART IN 46515
Jacob R Petkovich	officer: EVP Finance, CFO & Treasurer	107 W. FRANKLIN STREET, PO BOX 638, ELKHART IN 46515
James E Rose	other: Principal Accounting Officer	107 W. FRANKLIN STREET, PO BOX 638, ELKHART IN 46515
Joshua A Boone	officer: VP - Finance & CFO	107 W. FRANKLIN STREET, P.O. BOX 638, ELKHART IN 46515