Enovis Corp (ENOV)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 990,779 | 869,383 | 777,675 | 603,640 | 1,401,060 |
| Revenue | US$ in thousands | 1,699,490 | 1,524,550 | 3,751,870 | 2,959,420 | 3,222,130 |
| Gross profit margin | 58.30% | 57.03% | 20.73% | 20.40% | 43.48% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $990,779K ÷ $1,699,490K
= 58.30%
The gross profit margin of Enovis Corp has shown a positive trend over the past five years, indicating an improvement in the company's ability to generate profits from its core operations. From 2019 to 2021, there was a slight fluctuation in the gross profit margin, ranging from 41.87% to 42.11%. However, a notable increase in the margin was observed in 2022 and further in 2023, reaching 58.04%. This significant rise reflects a more efficient cost management or increased pricing power, resulting in a higher percentage of revenue retained after deducting the cost of goods sold. Overall, the improving trend in Enovis Corp's gross profit margin suggests enhanced profitability and operational efficiency over the years.
Peer comparison
Dec 31, 2023