IDEXX Laboratories Inc (IDXX)

Gross profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross profit	US$ in thousands	2,378,930	2,189,970	2,004,340	1,889,430	1,571,040
Revenue	US$ in thousands	3,897,500	3,660,950	3,367,320	3,215,360	2,706,660
Gross profit margin		61.04%	59.82%	59.52%	58.76%	58.04%

December 31, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $2,378,930K ÷ $3,897,500K
= 61.04%

IDEXX Laboratories Inc has shown a consistent upward trend in its gross profit margin over the past five years. Startinng from 58.04% in December 31, 2020, the margin improved to 58.76% by December 31, 2021, and further increased to 59.52% in December 31, 2022. Subsequently, the margin continued to rise to 59.82% by December 31, 2023 and reached its highest level at 61.04% by December 31, 2024. This demonstrates the company's ability to effectively manage its cost of goods sold relative to its revenue, indicating potential operational efficiency and pricing power in its industry.