IDEXX Laboratories Inc (IDXX)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 845,042 | 679,089 | 744,845 | 581,776 | 427,720 |
| Revenue | US$ in thousands | 3,660,950 | 3,367,320 | 3,215,360 | 2,706,660 | 2,406,910 |
| Net profit margin | 23.08% | 20.17% | 23.17% | 21.49% | 17.77% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $845,042K ÷ $3,660,950K
= 23.08%
The net profit margin of Idexx Laboratories, Inc. has shown a generally upward trend over the past five years, with the margin ranging from 17.77% in 2019 to 23.08% in 2023. This indicates that the company has been effectively managing its expenses relative to its revenue during this period. The consistent improvement in the net profit margin suggests that Idexx Laboratories has been able to increase profitability by either controlling costs, increasing revenues, or both. Overall, the increasing trend in the net profit margin reflects positively on the company's financial performance and efficiency in generating profit from its operations.
Peer comparison
Dec 31, 2023