Penumbra Inc (PEN)

Operating 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
Operating income (ttm)	US$ in thousands	86,224	78,478	55,739	77,644	66,976	30,339	23,148	5,120	-359	-38,808	-35,461	-25,010	-7,501	30,811	1,872	-26,089	-38,942	-26,618	6,516	36,966
Revenue (ttm)	US$ in thousands	1,194,615	1,163,776	1,133,683	1,095,779	1,058,522	995,059	937,791	884,636	847,133	829,928	806,367	782,281	747,590	710,477	671,436	592,287	560,412	538,777	527,203	556,295
Operating profit margin		7.22%	6.74%	4.92%	7.09%	6.33%	3.05%	2.47%	0.58%	-0.04%	-4.68%	-4.40%	-3.20%	-1.00%	4.34%	0.28%	-4.40%	-6.95%	-4.94%	1.24%	6.65%

December 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $86,224K ÷ $1,194,615K
= 7.22%

The operating profit margin of Penumbra Inc has shown fluctuations over the period from March 31, 2020, to December 31, 2024, based on the data provided. In March 2020, the operating profit margin was 6.65%, indicating that the company generated a profit of 6.65 cents for every dollar of sales after deducting operating expenses.

However, in the following quarters and throughout 2020 and 2021, the operating profit margin declined and even turned negative, reaching its lowest point at -6.95% in December 2020. This negative trend could suggest challenges in controlling costs or generating sufficient revenues to cover operating expenses during that period.

Starting from March 2021, there was a gradual improvement in the operating profit margin, with intermittent fluctuations, eventually showing a positive trend by December 2024, with a margin of 7.22%. This improvement indicates the company's ability to manage its costs more effectively, increase sales, or both.

Overall, the analysis reveals a volatile operating profit margin for Penumbra Inc over the period in question, with the company experiencing challenges in maintaining profitability in some quarters but showing signs of recovery and improved performance in later periods.