Badger Meter Inc (BMI)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 276,438 | 219,970 | 205,484 | 168,249 | 163,528 |
| Revenue | US$ in thousands | 707,639 | 566,120 | 505,218 | 425,514 | 424,372 |
| Gross profit margin | 39.06% | 38.86% | 40.67% | 39.54% | 38.53% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $276,438K ÷ $707,639K
= 39.06%
Badger Meter Inc.'s gross profit margin has shown a relatively stable trend over the past five years, fluctuating between 38.51% in 2019 to 40.67% in 2021. In 2023, the gross profit margin stood at 39.29%, indicating a slight improvement from the previous year. This suggests that the company has been able to effectively manage its cost of goods sold and generate a healthy level of gross profit relative to its revenue. Overall, the trend in the gross profit margin reflects the company's ability to maintain a consistent level of profitability from its core operations over the years.
Peer comparison
Dec 31, 2023