Penumbra Inc (PEN)

Operating 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
Operating income (ttm)	US$ in thousands	73,551	43,355	36,164	18,136	6,082	-38,808	-35,461	-25,010	-7,501	30,811	1,872	-26,089	-38,942	-26,618	6,516	36,966	47,508	43,598	9,773	6,255
Revenue (ttm)	US$ in thousands	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	547,405	522,935	495,239	470,676
Operating profit margin		6.95%	4.36%	3.86%	2.05%	0.72%	-4.68%	-4.40%	-3.20%	-1.00%	4.34%	0.28%	-4.40%	-6.95%	-4.94%	1.24%	6.65%	8.68%	8.34%	1.97%	1.33%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $73,551K ÷ $1,058,522K
= 6.95%

Penumbra Inc's operating profit margin has shown a gradual improvement over the past eight quarters. The operating profit margin increased from -4.40% in Q3 2022 to 8.67% in Q4 2023, indicating a positive trend in the company's operational efficiency and profitability. This steady improvement suggests that Penumbra Inc has been effectively managing its operating expenses and generating higher revenues relative to its costs. The company's ability to consistently increase its operating profit margin over multiple quarters highlights its strong financial performance and may be indicative of a successful strategy for sustainable growth.