Dril-Quip Inc (DRQ)

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	115,557	111,147	101,937	102,356	96,135	82,603	80,335	75,278	80,588	86,971	90,892	95,143	95,275	104,890	113,010	119,442	119,799	110,983	100,923	90,306
Revenue (ttm)	US$ in thousands	424,060	394,530	365,427	369,798	362,070	343,168	338,024	324,843	322,945	332,267	340,565	350,214	364,973	386,193	403,125	416,487	414,806	403,687	388,717	379,770
Gross profit margin		27.25%	28.17%	27.90%	27.68%	26.55%	24.07%	23.77%	23.17%	24.95%	26.18%	26.69%	27.17%	26.10%	27.16%	28.03%	28.68%	28.88%	27.49%	25.96%	23.78%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $115,557K ÷ $424,060K
= 27.25%

Dril-Quip, Inc.'s gross profit margin has shown a generally increasing trend over the past eight quarters, indicating an improvement in the company's ability to generate profits from its core operations. The margin has ranged from a low of 23.17% in Q1 2022 to a high of 28.17% in Q3 2023. This steady increase suggests that Dril-Quip has been effectively managing its production costs and/or pricing strategy to enhance profitability. Overall, the upward trajectory in gross profit margin reflects positively on the company's operational efficiency and financial performance.