RadNet Inc (RDNT)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,492,700 | 1,323,520 | 1,222,030 | 980,217 | 154,487 |
| Revenue | US$ in thousands | 1,616,630 | 1,430,060 | 1,315,080 | 1,071,840 | 1,154,180 |
| Gross profit margin | 92.33% | 92.55% | 92.92% | 91.45% | 13.39% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,492,700K ÷ $1,616,630K
= 92.33%
The gross profit margin of Radnet Inc has displayed varying trends over the past five years. In 2023, the gross profit margin improved to 13.69%, marking a significant increase from the previous year. This indicates that the company was able to generate more gross profit relative to its revenue in 2023.
Comparing to 2022 and 2021, where the gross profit margin was 11.59% and 14.58% respectively, there was a slight improvement in 2023. However, it should be noted that the gross profit margin in 2021 was higher than both 2022 and 2023.
In contrast, the gross profit margin was lower in 2020 at 9.88%, suggesting that the company faced challenges in generating gross profit compared to the other years analyzed. The highest gross profit margin in the past five years was in 2019 at 13.39%, which was slightly lower than the margin seen in 2023.
Overall, Radnet Inc's gross profit margin has fluctuated over the past five years, with 2023 showing an improvement compared to the previous year. It will be essential for the company to continue monitoring and managing its cost of goods sold and revenue to sustain and potentially increase its gross profit margin in the future.
Peer comparison
Dec 31, 2023