Fulgent Genetics Inc (FLGT)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 104,456 | 366,901 | 777,051 | 331,905 | 18,421 |
| Revenue | US$ in thousands | 289,213 | 618,968 | 992,584 | 421,712 | 32,528 |
| Gross profit margin | 36.12% | 59.28% | 78.29% | 78.70% | 56.63% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $104,456K ÷ $289,213K
= 36.12%
The gross profit margin of Fulgent Genetics Inc has experienced fluctuations over the past five years. In 2019, the gross profit margin stood at 56.63%, indicating that the company retained approximately 56.63% of its total revenue after accounting for the cost of goods sold. Over the next two years, there was a significant improvement as the margin rose to 78.70% in 2020 and 78.29% in 2021, suggesting increased efficiency in managing production costs.
However, there was a notable decrease in the gross profit margin in 2022 to 59.28%, which may indicate higher costs of goods sold or pricing pressures. This trend continued into 2023 with a further decline to 36.12%, signifying a potential challenge in maintaining profitability.
Overall, the fluctuation in Fulgent Genetics Inc's gross profit margin warrants further investigation into the factors influencing the company's cost structure and pricing strategies to ensure sustainable profitability in the future.
Peer comparison
Dec 31, 2023