Merit Medical Systems Inc (MMSI)

Gross profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Gross profit (ttm)	US$ in thousands	643,333	620,879	605,543	597,225	583,872	567,895	554,269	536,554	519,099	513,353	505,274	494,346	485,333	467,690	449,210	409,287	401,177	401,644	403,766	431,514
Revenue (ttm)	US$ in thousands	1,346,822	1,311,388	1,282,089	1,260,472	1,241,203	1,213,421	1,188,414	1,165,681	1,144,662	1,131,114	1,111,439	1,096,568	1,069,451	1,049,645	1,025,702	962,507	955,554	955,472	953,411	990,405
Gross profit margin		47.77%	47.35%	47.23%	47.38%	47.04%	46.80%	46.64%	46.03%	45.35%	45.38%	45.46%	45.08%	45.38%	44.56%	43.80%	42.52%	41.98%	42.04%	42.35%	43.57%

December 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $643,333K ÷ $1,346,822K
= 47.77%

The gross profit margin of Merit Medical Systems Inc has exhibited a relatively stable upward trend over the past few years, starting at around 43.57% in March 2020 and steadily increasing to 47.77% by December 2024. Margins improved consistently with minor fluctuations between quarters. This indicates that the company has been effectively managing its production and cost of goods sold, resulting in an increasing percentage of revenue retained after accounting for direct expenses related to production. The rising trend in gross profit margin suggests operational efficiencies and possibly pricing power within the industry. However, it would be prudent to continue monitoring the margin to ensure sustained profitability and competitiveness.