Fabrinet (FN)
Gross profit margin
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 413,349 | 394,507 | 383,259 | 370,740 | 356,118 | 345,964 | 341,036 | 337,921 | 336,273 | 327,844 | 312,530 | 296,686 | 277,527 | 264,745 | 250,830 | 234,480 | 221,363 | 206,903 | 194,461 | 190,598 |
| Revenue (ttm) | US$ in thousands | 3,419,327 | 3,262,896 | 3,122,632 | 3,001,718 | 2,882,967 | 2,785,577 | 2,719,323 | 2,675,285 | 2,645,237 | 2,577,240 | 2,476,354 | 2,374,331 | 2,262,224 | 2,183,917 | 2,098,839 | 1,986,033 | 1,879,350 | 1,774,896 | 1,706,789 | 1,679,179 |
| Gross profit margin | 12.09% | 12.09% | 12.27% | 12.35% | 12.35% | 12.42% | 12.54% | 12.63% | 12.71% | 12.72% | 12.62% | 12.50% | 12.27% | 12.12% | 11.95% | 11.81% | 11.78% | 11.66% | 11.39% | 11.35% |
June 30, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $413,349K ÷ $3,419,327K
= 12.09%
The analysis of Fabrinet's gross profit margin over the specified period reveals several notable trends. Starting from September 30, 2020, when the gross profit margin was approximately 11.35%, there has been a steady upward trajectory observed through to September 30, 2023, reaching approximately 12.63%. This indicates an improving ability to generate profit from sales before accounting for operating expenses and other costs. The margin experienced consistent incremental increases, with notable milestones occurring around the end of each calendar year, such as an increase from 11.95% in December 2021 to 12.12% in March 2022, and subsequent gains reaching 12.72% in March 2023.
Post-March 2023, the gross profit margin appears to stabilize slightly above 12.4%, with minor fluctuations observed through to September 2024, where it is recorded at approximately 12.35%. The subsequent projections into 2025 indicate a slight decline, with the gross profit margin declining to roughly 12.09% by March 2025, and remaining at that level through June 2025.
Overall, the trend demonstrates a gradual improvement in profitability at the gross margin level over the three-year period, suggesting potential enhancements in manufacturing efficiency, pricing strategies, or product mix. The recent stabilization and slight decline projection toward 2025 may reflect market dynamics, competitive pressures, or shifts in cost structures. Nonetheless, Fabrinet has maintained a relatively stable gross profit margin within the 12.0% to 12.7% range over the analyzed period.
Peer comparison
Jun 30, 2025