Iridium Communications Inc (IRDM)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 645,517 | 595,930 | 512,426 | 491,887 | 464,879 |
| Revenue | US$ in thousands | 790,723 | 721,034 | 614,500 | 583,439 | 560,444 |
| Gross profit margin | 81.64% | 82.65% | 83.39% | 84.31% | 82.95% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $645,517K ÷ $790,723K
= 81.64%
The gross profit margin of Iridium Communications Inc has exhibited a slight decline in recent years, decreasing from 75.54% in 2020 to 71.53% in 2023. Despite this reduction, the company maintains a relatively strong position in generating profits from its core operations. The downward trend suggests potential challenges in managing production costs or pricing strategies. Further analysis of the company's cost structure and competitive positioning may provide insights into the factors influencing this trend.
Peer comparison
Dec 31, 2023
Company name
Symbol
Gross profit margin
Iridium Communications Inc
IRDM
81.64%
ESCO Technologies Inc
ESE
38.73%
Lumentum Holdings Inc
LITE
9.25%