Gross Margin is a key indicator of how efficiently a company produces and prices its products or services.

Formula

Gross Margin = (Gross Profit ÷ Revenue) × 100%

Where:

Gross Profit = Revenue − Cost of Goods Sold (COGS)

Quick Example

Assume:

• Revenue: RM1,000,000

• COGS: RM700,000

• Gross Profit: RM300,000

Therefore:

Gross Margin = (RM300,000 ÷ RM1,000,000) × 100% = 30%

This means that for every RM1 of revenue, the company retains RM0.30 after covering the cost of goods sold.

How Should Gross Margin Be Interpreted?

A higher gross margin generally indicates stronger cost control or greater pricing power.

A lower gross margin may indicate:

• Higher production or purchasing costs; or

• More intense competition, which may limit the company’s ability to increase prices.

Gross margin should be analysed together with other financial indicators to obtain a more complete understanding of the company’s financial and operating performance.

CCS | Beyond Numbers

毛利率（Gross Margin）：公式、例子与解读

**毛利率（Gross Margin）**是衡量公司生产及定价效率的重要指标。

计算公式

毛利率 =（毛利 ÷ 营业收入）× 100%

其中：

毛利 = 营业收入 − 销售成本（COGS）

一个简单例子

假设：

• 营业收入：RM1,000,000

• 销售成本：RM700,000

• 毛利：RM300,000

因此：

毛利率 =（RM300,000 ÷ RM1,000,000）× 100% = 30%

这表示公司每赚取 RM1 的营业收入，在扣除销售成本后，还剩下 RM0.30。

应该如何解读毛利率？

较高的毛利率通常代表公司拥有较好的成本控制能力，或具备较强的定价能力。

较低的毛利率则可能反映：

• 生产成本或采购成本较高；或

• 市场竞争较为激烈，限制了公司的加价能力。

分析毛利率时，建议结合其他财务指标一起评估，才能更完整地了解公司的财务及经营表现。

CCS | Beyond Numbers