CONMED Corporation (CNMD)

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	676,245	625,932	609,488	590,575	571,245	595,239	585,930	575,577	568,035	547,693	539,085	469,590	460,300	466,761	463,174	522,435	524,714	515,394	495,910	480,991
Revenue (ttm)	US$ in thousands	1,244,743	1,168,565	1,139,075	1,098,613	1,045,472	1,068,575	1,042,314	1,020,285	1,010,635	989,493	978,501	881,125	862,458	874,495	870,250	950,728	955,096	932,675	901,392	875,949
Gross profit margin		54.33%	53.56%	53.51%	53.76%	54.64%	55.70%	56.21%	56.41%	56.21%	55.35%	55.09%	53.29%	53.37%	53.37%	53.22%	54.95%	54.94%	55.26%	55.02%	54.91%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $676,245K ÷ $1,244,743K
= 54.33%

Conmed Corp.'s gross profit margin has exhibited a declining trend over the past eight quarters, from 56.41% in Q1 2022 to 54.33% in Q4 2023. This downward trend may indicate challenges in maintaining profitability on manufacturing and selling its products. Despite the decrease, the gross profit margin has generally remained above 50% throughout the period, suggesting that Conmed Corp. has been able to effectively manage its production costs relative to its sales revenue. Further analysis of the company's operational efficiency and pricing strategies may provide insights into the factors influencing this trend in gross profit margin.