Neurocrine Biosciences Inc (NBIX)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	952,400	635,200	524,400	561,400	402,062
Revenue	US$ in thousands	1,883,200	1,411,600	1,107,700	994,700	756,124
Gross profit margin		50.57%	45.00%	47.34%	56.44%	53.17%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $952,400K ÷ $1,883,200K
= 50.57%

The gross profit margin of Neurocrine Biosciences, Inc. has shown a slight decline over the past five years. The trend indicates a gradual decrease from 99.06% in 2019 to 97.90% in 2023. Despite the decrease, the company still maintains a high level of gross profit margin, showcasing strong profitability in its core operations. It is essential to further investigate the factors contributing to this decline to ensure continued profitability and efficiency in the company's cost structure.