UFP Technologies Inc (UFPT)

Gross profit margin

		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	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	112,225	109,375	107,148	101,827	90,260	80,056	66,549	55,639	51,114	49,423	47,935	44,470	44,684	47,070	49,863	54,285	53,959	52,895	52,005	50,620
Revenue (ttm)	US$ in thousands	397,074	386,813	383,088	384,042	358,074	323,180	277,782	228,683	206,351	195,161	187,703	179,327	179,009	184,116	190,075	198,959	197,791	198,228	196,447	193,872
Gross profit margin		28.26%	28.28%	27.97%	26.51%	25.21%	24.77%	23.96%	24.33%	24.77%	25.32%	25.54%	24.80%	24.96%	25.57%	26.23%	27.28%	27.28%	26.68%	26.47%	26.11%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $112,225K ÷ $397,074K
= 28.26%

The gross profit margin of UFP Technologies Inc has shown a fluctuating trend over the past five years, ranging from a low of 23.96% to a high of 28.28%. The margin has generally been on an upward trajectory since 2020, indicating an improvement in the company's ability to generate profits from its core operations. Specifically, the margins for the most recent quarters of 2023 have been relatively stable around the 28% mark, suggesting consistency in the company's ability to control its cost of goods sold and maintain a healthy level of gross profit. Overall, the increasing trend in gross profit margin reflects positively on UFP Technologies Inc's operational efficiency and pricing strategies.