Bio-Techne Corp (TECH)
Gross profit margin
| Jun 30, 2024 | Jun 30, 2023 | Jun 30, 2022 | Jun 30, 2021 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 769,725 | 769,815 | 756,496 | 632,850 | 483,194 |
| Revenue | US$ in thousands | 1,159,360 | 1,137,170 | 1,094,290 | 917,080 | 1,458,180 |
| Gross profit margin | 66.39% | 67.70% | 69.13% | 69.01% | 33.14% |
June 30, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $769,725K ÷ $1,159,360K
= 66.39%
The gross profit margin of Bio-Techne Corp has shown a declining trend over the past five years. In the most recent fiscal year, ending June 30, 2024, the gross profit margin decreased to 66.39% from 67.70% in the previous year. This decline is significant compared to the previous years where the gross profit margin ranged from 69.01% to 33.14%.
A consistently high gross profit margin indicates that the company is efficiently managing its production costs relative to its revenue generation. However, the decreasing trend in Bio-Techne Corp's gross profit margin may raise concerns about its ability to control costs or maintain pricing power.
Further analysis is warranted to understand the factors driving this decline and assess the company's overall financial health and operational efficiency. Factors such as changes in sales pricing, cost of goods sold, competition, and macroeconomic conditions could influence the gross profit margin.
Peer comparison
Jun 30, 2024