ICU Medical Inc (ICUI)

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	739,873	743,233	745,709	720,975	697,761	650,306	591,701	547,637	491,490	483,874	470,007	452,762	461,497	455,763	460,391	457,976	471,864	492,364	508,399	556,330
Revenue (ttm)	US$ in thousands	2,259,126	2,249,284	2,293,830	2,305,524	2,279,997	2,042,508	1,780,711	1,541,384	1,316,308	1,296,234	1,278,741	1,260,443	1,271,004	1,266,076	1,254,980	1,263,883	1,266,208	1,291,063	1,310,761	1,358,939
Gross profit margin		32.75%	33.04%	32.51%	31.27%	30.60%	31.84%	33.23%	35.53%	37.34%	37.33%	36.76%	35.92%	36.31%	36.00%	36.69%	36.24%	37.27%	38.14%	38.79%	40.94%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $739,873K ÷ $2,259,126K
= 32.75%

To provide a detailed analysis of ICU Medical, Inc.'s gross profit margin based on the data provided, we can observe the following trends:

1. Overall, there has been a fluctuation in the gross profit margin over the past eight quarters. The margins ranged from a low of 30.60% in Q4 2022 to a high of 35.53% in Q1 2022.

2. In the most recent quarter, Q4 2023, the gross profit margin decreased slightly to 32.75% from 33.04% in the previous quarter, Q3 2023. This indicates a potential decrease in the company's ability to generate profits from its core operations compared to the previous quarter.

3. Comparing the gross profit margin in Q4 2023 to the same quarter in the previous year, Q4 2022, we see an improvement from 30.60% to 32.75%. This suggests that ICU Medical, Inc. has enhanced its profitability compared to the same period last year.

4. Looking at the trend over the past eight quarters, we note that the gross profit margin peaked in Q1 2022 at 35.53% and has gradually trended downwards since then.

5. The fluctuations in the gross profit margin may be influenced by various factors such as changes in the cost of goods sold, pricing strategies, competition in the market, or shifts in the product mix.

Overall, the analysis of ICU Medical, Inc.'s gross profit margin reveals a pattern of variability over the past eight quarters. It is important for the company to closely monitor and manage its cost structure and pricing strategies to maintain and potentially improve its profitability in the future.