IPG Photonics Corporation (IPGP)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	541,698	555,413	696,398	538,996	606,209
Revenue	US$ in thousands	1,287,440	1,429,550	1,460,860	1,200,720	1,314,580
Gross profit margin		42.08%	38.85%	47.67%	44.89%	46.11%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $541,698K ÷ $1,287,440K
= 42.08%

The gross profit margin of IPG Photonics Corp has fluctuated over the past five years, ranging from a low of 38.85% in 2022 to a high of 47.67% in 2021. The company's gross profit margin for the most recent year, ending on December 31, 2023, increased to 42.08%. This improvement indicates that the company was able to generate a higher proportion of sales revenue as gross profit in 2023 compared to the previous year. Overall, while there have been some fluctuations in the gross profit margin, IPG Photonics Corp has demonstrated a consistent ability to maintain a healthy level of gross profitability over the period analyzed.