Bristol-Myers Squibb Company (BMY)

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	16,866,000	16,574,000	16,787,000	17,616,000	17,718,000	17,091,000	17,622,000	17,410,000	16,199,000	20,985,000	24,246,000	27,052,000	30,745,000	28,040,000	24,219,000	21,090,000	18,067,000	16,917,000	16,763,000	16,561,000
Revenue (ttm)	US$ in thousands	45,006,000	44,935,000	45,187,000	45,848,000	46,159,000	46,738,000	47,144,000	46,960,000	46,385,000	45,468,000	44,384,000	42,810,000	42,518,000	39,395,000	34,862,000	31,006,000	26,145,000	24,173,000	23,857,000	23,288,000
Gross profit margin		37.48%	36.88%	37.15%	38.42%	38.38%	36.57%	37.38%	37.07%	34.92%	46.15%	54.63%	63.19%	72.31%	71.18%	69.47%	68.02%	69.10%	69.98%	70.26%	71.11%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $16,866,000K ÷ $45,006,000K
= 37.48%

The gross profit margin of Bristol-Myers Squibb Co. has been gradually decreasing over the past eight quarters. The company's gross profit margin stood at 76.24% in Q4 2023, compared to 77.01% in Q2 2023 and 79.62% in Q1 2022. This declining trend may indicate increasing costs of goods sold relative to revenue, impacting the company's profitability at the gross level. It is important for Bristol-Myers Squibb Co. to monitor and address the factors contributing to this decline in order to sustain healthy financial performance.