Balchem Corporation (BCPC)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	302,056	295,702	287,588	282,115	280,451	275,878	268,382	255,953	243,174	235,926	231,360	227,293	223,897	221,425	219,065	217,603	211,367	208,346	202,340	201,888
Revenue (ttm)	US$ in thousands	922,439	926,271	940,590	946,031	942,358	922,960	876,562	842,234	799,023	766,603	743,874	714,864	703,644	689,458	672,913	661,112	643,705	640,717	637,165	639,298
Gross profit margin		32.75%	31.92%	30.58%	29.82%	29.76%	29.89%	30.62%	30.39%	30.43%	30.78%	31.10%	31.80%	31.82%	32.12%	32.55%	32.91%	32.84%	32.52%	31.76%	31.58%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $302,056K ÷ $922,439K
= 32.75%

The gross profit margin of Balchem Corp. has shown a fluctuating trend over the past eight quarters. In Q1 2022, the gross profit margin was 30.39%, followed by a slight increase to 30.62% in Q2 2022. However, the margin decreased to 29.89% in Q3 2022 before increasing again to 29.76% in Q4 2022.

The trend continued into 2023, with the gross profit margin fluctuating between 29.82% in Q1 2023 and 32.75% in Q4 2023. Overall, the company has managed to maintain a gross profit margin above 29% throughout the quarters analyzed.

It is important to further investigate the factors contributing to these fluctuations to determine the underlying reasons for the changes in the gross profit margin. Analyzing the cost of goods sold, pricing strategies, and operational efficiency could provide insights into how Balchem Corp. can improve its gross profit margin in the future.