Bio-Techne Corp (TECH)

Gross profit margin

		Jun 30, 2024	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
Gross profit (ttm)	US$ in thousands	769,725	771,075	768,638	775,411	769,815	765,467	764,763	765,094	756,496	732,090	698,906	666,115	632,849	570,219	532,008	502,511	483,194	498,140	492,687	484,302
Revenue (ttm)	US$ in thousands	1,159,360	1,137,352	1,130,708	1,131,664	1,137,169	1,125,274	1,120,378	1,117,527	1,094,290	1,064,304	1,017,313	971,607	917,080	837,177	786,479	745,873	724,111	739,941	729,495	718,184
Gross profit margin		66.39%	67.80%	67.98%	68.52%	67.70%	68.02%	68.26%	68.46%	69.13%	68.79%	68.70%	68.56%	69.01%	68.11%	67.64%	67.37%	66.73%	67.32%	67.54%	67.43%

June 30, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $769,725K ÷ $1,159,360K
= 66.39%

The gross profit margin of Bio-Techne Corp has shown relatively stable performance over the past few periods, ranging from 66.39% to 69.13%. The margin peaked at 69.13% in September 2022 and has since hovered around the high 60s. This indicates that Bio-Techne has been able to effectively manage its cost of goods sold in relation to its revenue generation. The consistent gross profit margins suggest that the company has been maintaining strong pricing power, controlling production costs, or a combination of both. Further analysis of the company's cost structure and pricing strategy would provide more insights into the sustainability of its gross profit margin levels.