Chemed Corp (CHE)

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	393,595	366,621	359,595	381,573	396,259	408,780	420,520	401,831	393,076	391,934	385,388	362,986	361,168	349,377	324,231	334,799	307,383	296,058	292,126	282,286
Revenue (ttm)	US$ in thousands	2,264,417	2,225,159	2,187,099	2,164,571	2,134,963	2,129,287	2,141,482	2,142,450	2,139,261	2,131,572	2,121,202	2,091,145	2,079,583	2,068,618	2,020,934	1,992,319	1,938,555	1,873,739	1,837,277	1,805,506
Gross profit margin		17.38%	16.48%	16.44%	17.63%	18.56%	19.20%	19.64%	18.76%	18.37%	18.39%	18.17%	17.36%	17.37%	16.89%	16.04%	16.80%	15.86%	15.80%	15.90%	15.63%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $393,595K ÷ $2,264,417K
= 17.38%

Chemed Corp.'s gross profit margin has shown a slight fluctuation over the past eight quarters. In Q4 2023, the gross profit margin was 35.28%, which was higher than the previous quarter but lower compared to Q4 2022. The trend over the last two years indicates a gradual decline from 36.87% in Q2 2022 to 35.28% in Q4 2023. This suggests that the company may be facing challenges in maintaining a high level of gross profit margin, which could be due to various factors such as changes in costs, pricing strategies, or competitive pressures. Further analysis of the company's financial performance and business operations would be necessary to fully understand the drivers behind these fluctuations in the gross profit margin.