Diodes Incorporated (DIOD)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	658,182	827,237	670,360	431,121	465,807
Revenue	US$ in thousands	1,652,820	1,998,010	1,795,390	1,207,620	1,261,930
Gross profit margin		39.82%	41.40%	37.34%	35.70%	36.91%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $658,182K ÷ $1,652,820K
= 39.82%

The gross profit margin of Diodes, Inc. has fluctuated over the past five years. In 2023, the gross profit margin decreased to 39.61% from 41.35% in 2022. This decrease suggests that the company's profitability from sales after deducting the cost of goods sold slightly declined compared to the previous year.

However, when compared to 2021 and 2020, the gross profit margin in 2023 still indicates an improvement, as it was higher than both years. The company experienced a notable increase in gross profit margin from 35.07% in 2020 to 37.14% in 2021, which was followed by a further increase to 41.35% in 2022.

Despite the slight decrease in 2023, the overall trend in the gross profit margin of Diodes, Inc. demonstrates a positive trajectory over the past five years, indicating an improvement in the company's ability to generate profit from its core operations.