CTS Corporation (CTS)

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	190,859	199,799	206,744	207,850	210,538	208,205	200,521	196,369	184,620	178,640	169,884	148,755	139,063	135,072	135,223	149,860	157,576	161,521	166,546	167,155
Revenue (ttm)	US$ in thousands	550,422	568,009	585,368	585,168	586,869	577,119	547,590	532,193	512,925	503,412	494,807	449,419	424,067	416,089	417,963	454,450	469,000	474,033	477,241	474,578
Gross profit margin		34.68%	35.18%	35.32%	35.52%	35.87%	36.08%	36.62%	36.90%	35.99%	35.49%	34.33%	33.10%	32.79%	32.46%	32.35%	32.98%	33.60%	34.07%	34.90%	35.22%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $190,859K ÷ $550,422K
= 34.68%

Based on the data provided, CTS Corp.'s gross profit margin has shown a slight decline over the past few quarters, decreasing from 36.90% in Q1 2022 to 34.68% in Q4 2023. This downward trend indicates that the company's profitability from its core operations has been weakening. The variations in gross profit margin percentages across the quarters are relatively small, indicating a certain level of stability in the company's ability to generate profits from its sales after accounting for the cost of goods sold.

Overall, while CTS Corp.'s gross profit margins have experienced a gradual decline, they remain within a relatively narrow range, suggesting that the company has been able to maintain a consistent level of profitability despite some minor fluctuations. It would be important for CTS Corp. to closely monitor its cost structure and pricing strategies to ensure that its gross profit margins remain competitive and sustainable in the long term.