United Therapeutics Corporation (UTHR)

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	2,070,000	1,959,000	1,898,500	1,803,300	1,784,700	1,732,600	1,670,800	1,642,900	1,563,000	1,626,700	1,573,400	1,442,800	1,388,800	1,226,800	1,231,600	1,299,800	1,331,200	1,398,400	1,390,700	1,426,600
Revenue (ttm)	US$ in thousands	2,268,200	2,147,800	2,060,800	1,939,800	1,903,900	1,743,300	1,676,600	1,657,700	1,666,900	1,751,900	1,687,000	1,601,600	1,491,500	1,399,000	1,425,300	1,442,500	1,448,800	1,519,100	1,530,300	1,601,200
Gross profit margin		91.26%	91.21%	92.12%	92.96%	93.74%	99.39%	99.65%	99.11%	93.77%	92.85%	93.27%	90.08%	93.11%	87.69%	86.41%	90.11%	91.88%	92.05%	90.88%	89.10%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $2,070,000K ÷ $2,268,200K
= 91.26%

United Therapeutics Corp's gross profit margin has shown a gradual declining trend over the past eight quarters, dropping from 92.91% in Q1 2022 to 88.94% in Q4 2023. This suggests a decrease in the percentage of revenue retained after accounting for cost of goods sold. The company experienced its highest gross profit margin of 93.41% in Q2 2022, followed by a steady decrease in subsequent quarters.

While the current gross profit margin of 88.94% in Q4 2023 is still relatively high, the consistent decline may raise concerns about the company's ability to maintain profitability levels in the long term. Analysts should monitor future financial reports to assess whether this trend continues and investigate the factors impacting United Therapeutics' gross profit margin performance.