CI Financial (TSX:CIX) Gross Margin % : 48.89% (As of Dec. 2023)

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What is CI Financial Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. CI Financial's Gross Profit for the three months ended in Dec. 2023 was C$546 Mil. CI Financial's Revenue for the three months ended in Dec. 2023 was C$1,116 Mil. Therefore, CI Financial's Gross Margin % for the quarter that ended in Dec. 2023 was 48.89%.

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

TSX:CIX' s Gross Margin % Range Over the Past 10 Years
Min: 48.51 Med: 51.89 Max: 81.72
Current: 70.92

During the past 13 years, the highest Gross Margin % of CI Financial was 81.72%. The lowest was 48.51%. And the median was 51.89%.

TSX:CIX's Gross Margin % is ranked better than
66.04% of 533 companies
in the Asset Management industry
Industry Median: 50.37 vs TSX:CIX: 70.92

CI Financial had a gross margin of 48.89% for the quarter that ended in Dec. 2023 => Durable competitive advantage

The 5-Year average Growth Rate of Gross Margin for CI Financial was 8.30% per year.

CI Financial Gross Margin % Historical Data

The historical data trend for CI Financial'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.

CI Financial Gross Margin % Chart

CI Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Margin %

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50.99

62.47

81.72

69.17

70.92

CI Financial 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															46.15	83.07	83.44	83.72	48.89

Competitive Comparison of CI Financial's Gross Margin %

For the Asset Management subindustry, CI Financial'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.

CI Financial's Gross Margin % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, CI Financial's Gross Margin % distribution charts can be found below:

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

CI Financial Gross Margin % Calculation

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

CI Financial'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 )
	=	2187	/	3083.79
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(3083.79 - 896.83)	/	3083.79
	=	70.92 %

CI Financial'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 )
	=	545.8	/	1116.299
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(1116.299 - 570.545)	/	1116.299
	=	48.89 %

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.

CI Financial (TSX:CIX) 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

CI Financial had a gross margin of 48.89% for the quarter that ended in Dec. 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.

CI Financial Gross Margin % Related Terms

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CI Financial (TSX:CIX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » CI Financial Corp (TSX:CIX) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

CIXXF:USA CF7:Germany

Address

15 York Street, 2nd Floor, Legal Department, Toronto, ON, CAN, M5J 0A3

Website

https://www.cifinancial.com

CI Financial is a diversified provider of wealth management products and services, primarily in the Canadian market. The company had CAD 119.0 billion in core assets under management, another CAD 278.5 billion in wealth management assets under advisement, and CAD 23.4 billion in assets under custody at the end of September 2023, making it one of the largest nonbank affiliated asset managers in Canada. The company operates its fund business through CI Global Asset Management, which offers a broad selection of investment funds. On the wealth management side, the company operates through CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, as well as a large group of acquired U.S.-based advisors, providing financial advice primarily to high-net-worth clients.