Merit Medical Systems Inc (MMSI)

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	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	432,366	425,402	423,305	411,350
Revenue (ttm)	US$ in thousands	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	985,453	960,780	940,439	909,348
Gross profit margin		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%	43.87%	44.28%	45.01%	45.24%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $583,872K ÷ $1,241,203K
= 47.04%

The gross profit margin of Merit Medical Systems, Inc. has shown a consistent upward trend over the past eight quarters, indicating efficient cost management and pricing strategies. In Q4 2023, the gross profit margin reached 46.44%, the highest in the provided dataset. This improvement suggests that the company is effectively controlling its production costs and generating more profit from its sales. The gradual increase from 45.10% in Q4 2022 to 46.44% in Q4 2023 reflects a positive trend in the company's profitability and overall performance.