IDEXX Laboratories Inc (IDXX)

Operating 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
Operating income (ttm)	US$ in thousands	1,097,128	1,078,353	1,047,898	930,820	898,765	871,429	852,563	932,750	932,028	917,932	863,826	797,821	694,524	625,060	593,006	564,033	552,846	552,562	530,110	511,429
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
Operating profit margin		29.97%	30.06%	29.82%	27.13%	26.69%	26.09%	25.77%	28.49%	28.99%	29.28%	28.35%	27.92%	25.66%	24.12%	23.96%	22.95%	22.97%	23.50%	23.14%	22.71%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,097,128K ÷ $3,660,953K
= 29.97%

The operating profit margin of Idexx Laboratories, Inc. has shown a generally positive trend over the past four quarters. The margin has increased steadily from 26.09% in Q3 2022 to 29.97% in Q4 2023. This indicates that the company has been effectively controlling its operating expenses and generating stronger operating profits in relation to its revenue. In particular, the margin peaked in Q3 and Q4 of 2023, reaching above 30%, reflecting efficient management of costs and operations during that period. Overall, the consistent improvement in operating profit margin suggests that Idexx Laboratories, Inc. has been successful in enhancing profitability through operational efficiency and effective cost management strategies.