Bio-Rad Laboratories Inc (BIO)

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	1,426,900	1,457,700	1,494,600	1,527,131	1,567,366	1,570,166	1,634,066	1,640,135	1,638,000	1,698,200	1,629,000	1,520,900	1,437,800	1,308,100	1,247,800	1,262,600	1,257,000	1,259,200	1,238,900	1,232,800
Revenue (ttm)	US$ in thousands	2,637,846	2,686,946	2,731,337	2,741,910	2,774,598	2,777,098	2,856,467	2,894,713	2,922,702	2,979,702	2,876,119	2,701,076	2,540,271	2,374,971	2,288,622	2,311,881	2,292,289	2,284,689	2,267,881	2,271,474
Gross profit margin		54.09%	54.25%	54.72%	55.70%	56.49%	56.54%	57.21%	56.66%	56.04%	56.99%	56.64%	56.31%	56.60%	55.08%	54.52%	54.61%	54.84%	55.11%	54.63%	54.27%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,426,900K ÷ $2,637,846K
= 54.09%

The gross profit margin of Bio-Rad Laboratories Inc. has shown a declining trend over the past several quarters, starting at 55.93% in Q4 2022 and decreasing to 53.42% in Q4 2023. This decrease indicates a potential erosion in the company's ability to generate profit from its core operations. A possible explanation for this trend could be increasing costs of goods sold relative to sales revenues, leading to lower profitability at the gross level. It is important for the company to closely monitor and address any factors contributing to this decline in order to maintain sustainable profitability in the future.