Abbott Laboratories (ABT)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	8,043,000	10,173,000	10,578,000	7,203,000	16,737,000
Revenue	US$ in thousands	39,431,000	43,093,000	42,541,000	34,070,000	31,164,000
Gross profit margin		20.40%	23.61%	24.87%	21.14%	53.71%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $8,043,000K ÷ $39,431,000K
= 20.40%

Abbott Laboratories' gross profit margin has shown a declining trend over the past five years. The margin decreased from 58.53% in 2019 to 55.18% in 2023. This indicates that the company's cost of goods sold has been increasing relative to its revenue, resulting in lower gross profits as a percentage of sales. It is important for the company to closely monitor and manage its cost structure to improve its profitability.