Qorvo Inc (QRVO)

Gross profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Gross profit (ttm)	US$ in thousands	1,488,495	1,221,352	1,101,525	1,150,762	1,296,942	1,752,567	2,032,609	2,115,235	2,286,168	2,244,304	2,233,963	2,103,960	1,883,566	1,690,872	1,521,231	1,353,263	1,321,763	1,252,555	1,222,807	1,252,739
Revenue (ttm)	US$ in thousands	3,769,502	3,461,217	3,130,638	3,185,208	3,569,404	4,102,861	4,473,540	4,570,730	4,645,720	4,552,290	4,533,160	4,338,200	4,015,301	3,730,343	3,504,586	3,250,994	3,239,141	3,132,251	3,095,508	3,173,253
Gross profit margin		39.49%	35.29%	35.19%	36.13%	36.33%	42.72%	45.44%	46.28%	49.21%	49.30%	49.28%	48.50%	46.91%	45.33%	43.41%	41.63%	40.81%	39.99%	39.50%	39.48%

March 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,488,495K ÷ $3,769,502K
= 39.49%

The gross profit margin of Qorvo Inc has shown fluctuations over the past quarters but has generally been on a decreasing trend since the peak of 49.30% in March 2022. The margin declined to 39.49% in March 2024, indicating that the company is retaining a lower percentage of revenue as gross profit for each dollar of sales. This decline could be attributed to various factors such as changes in production costs, pricing strategies, or sales volumes. Investors and stakeholders may monitor this trend to assess Qorvo's ability to manage costs and sustain profitability in the long term.