Innovex International, Inc (INVX)

Gross profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross profit	US$ in thousands	232,631	115,412	157,153	87,396	95,089
Revenue	US$ in thousands	660,803	424,060	467,189	294,841	364,973
Gross profit margin		35.20%	27.22%	33.64%	29.64%	26.05%

December 31, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $232,631K ÷ $660,803K
= 35.20%

The gross profit margin of Innovex International, Inc. has demonstrated notable fluctuations over the observed period from December 31, 2020, to December 31, 2024. At the end of 2020, the gross profit margin stood at 26.05%, reflecting the company's initial profitability position during that year. By the subsequent year, 2021, there was a moderate increase to 29.64%, indicating improvement in the company's ability to convert sales into gross profit, possibly due to better cost management or pricing strategies.

This upward trend continued into 2022, with the gross profit margin reaching 33.64%, signifying a substantial enhancement in profitability and operational efficiency. However, in 2023, a decline was observed, with the margin decreasing to 27.22%, which may suggest increased cost pressures, declining sales prices, or other operational challenges impacting gross profitability.

Despite this dip in 2023, the margin experienced a significant rebound by 2024, rising to 35.20%. This level not only surpasses the previous years' figures but also indicates a strong recovery or strategic improvements that enhanced the company's gross profitability margin. Overall, the data depict a pattern of growth interrupted by a temporary setback, followed by a robust recovery, reflecting dynamic operational performance over the analyzed period.