Teledyne Technologies Incorporated (TDY)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	839,400	774,200	308,800	402,100	396,100
Revenue	US$ in thousands	5,559,800	5,379,900	4,510,100	3,094,300	3,171,900
Gross profit margin		15.10%	14.39%	6.85%	12.99%	12.49%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $839,400K ÷ $5,559,800K
= 15.10%

Based on the historical data provided, Teledyne Technologies Inc has shown a consistent improvement in its gross profit margin over the past five years. The gross profit margin has increased from 39.30% in December 2019 to 43.29% in December 2023. This upward trend indicates that the company has been able to effectively manage its production costs and/or increase its selling prices relative to its cost of goods sold.

The steady improvement in the gross profit margin reflects positively on Teledyne Technologies Inc's operational efficiency and pricing strategies. It suggests that the company may have achieved economies of scale, improved internal processes, negotiated better terms with suppliers, or successfully passed on cost increases to customers.

Overall, the increasing trend in gross profit margin is a favorable sign for investors and stakeholders as it indicates that the company is generating more profit on each dollar of sales. It also demonstrates that Teledyne Technologies Inc has been able to maintain or enhance its competitive position in its industry by effectively managing its cost structure.