Illumina Inc (ILMN)

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	2,745,000	2,743,000	2,776,000	2,811,000	2,971,000	3,116,000	3,169,000	3,204,000	3,153,000	2,966,000	2,722,000	2,348,000	2,203,000	2,235,000	2,357,000	2,502,000	2,467,000	2,395,000	2,344,000	2,346,000
Revenue (ttm)	US$ in thousands	4,504,000	4,465,000	4,461,000	4,447,000	4,583,000	4,699,000	4,692,000	4,656,000	4,526,000	4,280,000	3,966,000	3,473,000	3,239,000	3,238,000	3,351,000	3,556,000	3,543,000	3,458,000	3,404,000	3,396,000
Gross profit margin		60.95%	61.43%	62.23%	63.21%	64.83%	66.31%	67.54%	68.81%	69.66%	69.30%	68.63%	67.61%	68.01%	69.02%	70.34%	70.36%	69.63%	69.26%	68.86%	69.08%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,745,000K ÷ $4,504,000K
= 60.95%

Illumina Inc's gross profit margin has been gradually decreasing over the last eight quarters, indicating potential challenges in maintaining profitability. The trend shows a consistent decline from 71.09% in Q1 2022 to 65.16% in Q4 2023. This drop may reflect factors such as increasing costs of goods sold or pricing pressures in the industry. Management should closely monitor and address these trends to sustain and improve the company's profitability in the future.