ICU Medical Inc (ICUI)

Gross profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross profit	US$ in thousands	824,782	739,873	697,761	491,490	461,497
Revenue	US$ in thousands	2,382,050	2,259,130	2,280,000	1,316,310	1,271,000
Gross profit margin		34.62%	32.75%	30.60%	37.34%	36.31%

December 31, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $824,782K ÷ $2,382,050K
= 34.62%

The gross profit margin of ICU Medical Inc has shown some fluctuations over the past five years. It increased from 36.31% as of December 31, 2020, to 37.34% as of December 31, 2021, indicating an improvement in the company's ability to generate profits from its sales after accounting for the cost of goods sold. However, there was a noticeable decrease in the gross profit margin to 30.60% as of December 31, 2022. This decline could be attributed to various factors such as changes in pricing strategies, input costs, or operational inefficiencies.

Subsequently, the gross profit margin rebounded to 32.75% as of December 31, 2023, and further increased to 34.62% as of December 31, 2024. These improvements suggest that ICU Medical Inc may have implemented cost-saving measures, increased selling prices, or experienced operational efficiencies that positively impacted its gross profit margin.

Overall, while the company experienced some volatility in its gross profit margin over the period under review, the recent upward trend indicates a strengthening in its ability to generate profits from its core business activities. Continued monitoring and analysis of the factors influencing the gross profit margin will be essential for assessing ICU Medical Inc's ongoing financial performance.