Blackbaud Inc (BLKB)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 603,244 | 552,716 | 484,545 | 485,154 | 481,999 |
| Revenue | US$ in thousands | 1,068,830 | 1,029,700 | 912,853 | 913,219 | 900,423 |
| Gross profit margin | 56.44% | 53.68% | 53.08% | 53.13% | 53.53% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $603,244K ÷ $1,068,830K
= 56.44%
The gross profit margin of Blackbaud Inc has exhibited fluctuating trends over the past five years. In 2023, the gross profit margin increased to 54.57%, representing a significant improvement compared to 52.24% in 2022 and 52.23% in 2021. Despite this increase, the gross profit margin in 2023 remains below the levels seen in 2020 (53.13%) and 2019 (53.53%).
This variability in the gross profit margin suggests that Blackbaud Inc has experienced fluctuations in its cost of goods sold and revenue generation over the years. It is essential for the company to closely monitor and manage its cost structure to sustain higher levels of gross profit margin consistently. Further analysis of the company's operational efficiency and pricing strategies may provide insights into the reasons behind these fluctuations in the gross profit margin.
Peer comparison
Dec 31, 2023