IDEXX Laboratories Inc (IDXX)

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	2,189,970	2,148,730	2,107,374	2,048,556	2,004,338	1,975,832	1,942,127	1,917,403	1,889,432	1,842,513	1,792,198	1,682,232	1,571,040	1,492,687	1,415,031	1,393,542	1,365,549	1,334,761	1,295,454	1,270,040
Revenue (ttm)	US$ in thousands	3,660,953	3,587,920	3,514,054	3,430,970	3,367,324	3,339,846	3,308,606	3,274,202	3,215,360	3,135,208	3,046,576	2,858,026	2,706,655	2,591,163	2,474,677	2,457,188	2,406,908	2,350,848	2,290,993	2,251,642
Gross profit margin		59.82%	59.89%	59.97%	59.71%	59.52%	59.16%	58.70%	58.56%	58.76%	58.77%	58.83%	58.86%	58.04%	57.61%	57.18%	56.71%	56.73%	56.78%	56.55%	56.41%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,189,970K ÷ $3,660,953K
= 59.82%

Idexx Laboratories, Inc. has consistently maintained a healthy gross profit margin over the past eight quarters, ranging from 58.56% in Q1 2022 to 59.97% in Q2 2023. The company's gross profit margin has shown a general upward trend, indicating efficient cost management and pricing strategies.

The most recent gross profit margin of 59.82% in Q4 2023 demonstrates the company's ability to effectively generate revenue from its core operations after accounting for the cost of goods sold. This indicates that Idexx Laboratories is able to maintain a strong level of profitability on its products and services.

Overall, Idexx Laboratories' consistent and relatively high gross profit margin signifies operational efficiency and competitive pricing strategies, which could be contributing to the company's financial stability and growth.