ICU Medical Inc (ICUI)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	739,873	697,761	491,490	461,497	471,864
Revenue	US$ in thousands	2,259,130	2,280,000	1,316,310	1,271,000	1,266,210
Gross profit margin		32.75%	30.60%	37.34%	36.31%	37.27%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $739,873K ÷ $2,259,130K
= 32.75%

The gross profit margin of ICU Medical, Inc. has shown varying trends over the past five years. In 2019, the company had a gross profit margin of 37.27%, which slightly decreased to 36.31% in 2020 before experiencing a significant drop to 37.34% in 2021. However, in 2022, the gross profit margin decreased further to 30.60%. The most recent data for December 31, 2023, shows an improvement in the gross profit margin to 32.75%.

Overall, ICU Medical, Inc. has demonstrated fluctuating levels of gross profit margin over the past five years, with a recent improvement in the latest year. The company's ability to effectively manage its cost of goods sold in relation to its revenue can directly impact its profitability and operational efficiency. Further analysis and examination of the factors influencing these changes would provide deeper insights into the company's financial performance.