Novanta Inc (NOVT)
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 | 399,897 | 397,885 | 394,702 | 385,824 | 378,472 | 366,813 | 344,703 | 321,864 | 300,328 | 279,709 | 262,516 | 248,812 | 244,517 | 248,212 | 253,161 | 260,241 | 262,085 | 260,631 | 266,211 | 265,658 |
| Revenue (ttm) | US$ in thousands | 879,785 | 884,432 | 888,334 | 874,295 | 859,523 | 842,387 | 795,095 | 747,026 | 705,060 | 652,770 | 617,780 | 594,757 | 588,129 | 599,132 | 610,790 | 621,523 | 623,138 | 622,024 | 628,541 | 624,047 |
| Gross profit margin | 45.45% | 44.99% | 44.43% | 44.13% | 44.03% | 43.54% | 43.35% | 43.09% | 42.60% | 42.85% | 42.49% | 41.83% | 41.58% | 41.43% | 41.45% | 41.87% | 42.06% | 41.90% | 42.35% | 42.57% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $399,897K ÷ $879,785K
= 45.45%
Novanta Inc's gross profit margin has shown a generally positive trend over the past eight quarters. Starting from Q1 2022 at 43.01%, the gross profit margin consistently increased quarter over quarter, reaching its peak at 45.36% in Q4 2023. This indicates that the company has been effectively managing its production costs and sales pricing strategies to improve profitability. The steady increase in gross profit margin reflects positively on Novanta's ability to generate profit from its core business operations. It suggests that the company has been successful in controlling its cost of goods sold while maintaining or increasing its sales revenue, which is a key indicator of operational efficiency and overall financial health.
Peer comparison
Dec 31, 2023