Benchmark Electronics Inc (BHE)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	271,070	255,235	205,901	175,048	185,528
Revenue	US$ in thousands	2,838,980	2,886,330	2,255,320	2,053,130	2,268,100
Gross profit margin		9.55%	8.84%	9.13%	8.53%	8.18%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $271,070K ÷ $2,838,980K
= 9.55%

Benchmark Electronics Inc. has shown fluctuations in its gross profit margin over the past five years. The gross profit margin increased from 8.84% in 2019 to 9.13% in 2021, indicating improved efficiency in generating profits from its core business activities. However, there was a slight decline to 8.53% in 2020 before recovering to 8.84% in 2022. By the end of 2023, the gross profit margin further improved to 9.55%, showcasing the company's ability to enhance profitability relative to its cost of goods sold. Overall, these variations highlight the importance of monitoring gross profit margin as a key indicator of a company's operational performance and competitiveness in the market.