Xencor Inc (XNCR)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	123,447	114,528	249,124	96,376	142,633
Revenue	US$ in thousands	186,926	169,417	294,261	130,765	170,319
Gross profit margin		66.04%	67.60%	84.66%	73.70%	83.74%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $123,447K ÷ $186,926K
= 66.04%

Based on the data provided, Xencor Inc has consistently maintained a gross profit margin of 100% for the past five years. A gross profit margin of 100% indicates that the company is able to generate revenue that exceeds the cost of goods sold, resulting in no cost of goods sold being deducted from the revenue to calculate gross profit. This can signify strong pricing power, efficient cost management, or a high-value product offering. However, it is important to note that a gross profit margin of 100% may sometimes indicate that the company's accounting treatment or reporting practices warrant further investigation to ensure accuracy. Overall, Xencor Inc's consistent gross profit margin of 100% over the years reflects stability and effective management of its cost of goods sold.