IDEXX Laboratories Inc (IDXX)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 1,097,130 | 898,765 | 932,028 | 694,524 | 552,846 |
| Revenue | US$ in thousands | 3,660,950 | 3,367,320 | 3,215,360 | 2,706,660 | 2,406,910 |
| Operating profit margin | 29.97% | 26.69% | 28.99% | 25.66% | 22.97% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $1,097,130K ÷ $3,660,950K
= 29.97%
Idexx Laboratories, Inc. has demonstrated a consistent increase in operating profit margin over the past five years. The operating profit margin was 22.97% in 2019 and has steadily improved to reach 29.97% in 2023. This upward trend indicates the company's ability to effectively manage costs and generate operating income relative to its revenue. The rise in operating profit margin reflects potential operational efficiencies and effective cost controls within the organization. Overall, Idexx Laboratories, Inc.'s improving operating profit margin signifies a positive financial performance and suggests the company's ability to generate profits from its core business activities.
Peer comparison
Dec 31, 2023