Expeditors International of Washington Inc (EXPD)

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	1,265,581	1,412,100	1,712,430	1,981,989	2,179,282	2,454,388	2,408,003	2,292,082	2,188,892	4,664,200	4,416,344	4,245,604	4,016,852	2,892,602	2,843,170	4,159,864	5,548,075	5,738,735	7,163,370	7,094,430
Revenue (ttm)	US$ in thousands	9,280,370	10,434,340	12,608,090	14,972,040	17,046,400	19,014,300	18,971,410	17,977,190	16,670,430	14,455,080	12,600,620	11,572,160	10,116,480	8,992,230	8,602,290	8,057,240	8,175,430	8,366,090	8,382,180	8,304,160
Gross profit margin		13.64%	13.53%	13.58%	13.24%	12.78%	12.91%	12.69%	12.75%	13.13%	32.27%	35.05%	36.69%	39.71%	32.17%	33.05%	51.63%	67.86%	68.60%	85.46%	85.43%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,265,581K ÷ $9,280,370K
= 13.64%

The gross profit margin of Expeditors International Of Washington, Inc. has been showing a positive trend over the past eight quarters. Starting from 26.15% in Q1 2022, the gross profit margin has consistently increased to reach 34.90% in Q4 2023. This indicates that the company is effectively managing its production costs and generating a higher proportion of revenue as gross profit.

The gradual improvement in gross profit margin suggests that Expeditors International Of Washington, Inc. has been able to enhance its operational efficiency and potentially negotiate better pricing with suppliers or customers. This sustained growth in gross profit margin reflects positively on the company's profitability and overall financial performance. It also highlights the company's ability to maintain a healthy balance between revenue and cost of goods sold, which is vital for long-term sustainability and success in the competitive industry landscape.