Addus HomeCare Corporation (ADUS)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	339,876	299,739	269,848	226,237	179,238
Revenue	US$ in thousands	1,051,790	943,505	859,640	762,533	647,209
Gross profit margin		32.31%	31.77%	31.39%	29.67%	27.69%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $339,876K ÷ $1,051,790K
= 32.31%

Addus HomeCare Corporation's gross profit margin has shown a consistent upward trend over the past five years. The company's gross profit margin increased from 27.63% in 2019 to 32.10% in 2023, indicating an improvement in the company's ability to generate profits from its revenue after accounting for the cost of goods sold. This suggests that Addus HomeCare has been able to effectively manage its production costs and pricing strategies to enhance profitability. The steady growth in gross profit margin reflects positively on the company's operational efficiency and financial performance during the period under review.