Net Profit Margin
since 2019
Calculation
Shockwave Medical Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss)1 | ÷ | Revenue1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 20.17% | = | 100 | × | 147,278) | ÷ | 730,230) |
| Dec 31, 2022 | 44.10% | = | 100 | × | 215,996) | ÷ | 489,733) |
| Dec 31, 2021 | -3.85% | = | 100 | × | (9,136) | ÷ | 237,146) |
| Dec 31, 2020 | -96.92% | = | 100 | × | (65,699) | ÷ | 67,789) |
| Dec 31, 2019 | -119.06% | = | 100 | × | (51,109) | ÷ | 42,927) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 US$ in thousands
- Revenue Trends
- Revenue exhibited a strong upward trajectory over the analyzed period. Starting at $42.9 million in 2019, it increased consistently each year, reaching $730.2 million by 2023. This represents a more than 17-fold growth over the five-year span, indicating substantial business expansion and sales performance improvement.
- Net Income (Loss) Trends
- Net income demonstrated a significant turnaround. The company experienced net losses from 2019 through 2021, with the largest loss of approximately $65.7 million in 2020. However, 2022 marked a dramatic shift to profitability, with net income reaching $216.0 million, followed by a strong but reduced net income of $147.3 million in 2023. This suggests effective cost management or operational improvements contributing to the company’s profitability.
- Net Profit Margin
- The net profit margin mirrored the changes in net income. The margin was deeply negative in 2019 and 2020, indicating high losses relative to revenue in those years. In 2021, the margin improved significantly but was still slightly negative at -3.85%. The company achieved a positive margin of 44.1% in 2022, which then decreased to 20.17% in 2023. This fluctuation likely reflects both the profitability gains in 2022 and a relative decrease in profitability percentage due to the large increase in revenue in 2023.
- Overall Financial Performance Insights
- The company demonstrated impressive revenue growth coupled with a successful transition from sustained losses to substantial profitability within the five-year period. Although profitability margins declined after peaking in 2022, the firm maintained positive net income in 2023, indicating continued operational strength. The data reveals a phase of scale growth and improved cost efficiency that underpins the company’s financial health.
Comparison to Competitors
Shockwave Medical Inc., net profit margin, long-term trends, comparison to competitors
| Shockwave Medical Inc. | Abbott Laboratories | Elevance Health Inc. | Intuitive Surgical Inc. | Medtronic PLC | UnitedHealth Group Inc. | |
|---|---|---|---|---|---|---|
| Dec 31, 2023 | 20.17% | 14.27% | 3.52% | 25.24% | 12.03% | 6.09% |
| Dec 31, 2022 | 44.10% | 15.88% | 3.87% | 21.25% | 15.90% | 6.25% |
| Dec 31, 2021 | -3.85% | 16.42% | 4.46% | 29.85% | 11.97% | 6.06% |
| Dec 31, 2020 | -96.92% | 12.99% | 3.78% | 24.33% | 16.56% | 6.03% |
| Dec 31, 2019 | -119.06% | 11.56% | 4.66% | 30.80% | 15.16% | 5.76% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Comparison to Sector (Health Care Equipment & Services)
Shockwave Medical Inc., net profit margin, long-term trends, comparison to sector (health care equipment & services)
| Shockwave Medical Inc. | Health Care Equipment & Services | |
|---|---|---|
| Dec 31, 2023 | 20.17% | 6.43% |
| Dec 31, 2022 | 44.10% | 7.05% |
| Dec 31, 2021 | -3.85% | 7.14% |
| Dec 31, 2020 | -96.92% | 6.82% |
| Dec 31, 2019 | -119.06% | 6.91% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Comparison to Industry (Health Care)
Shockwave Medical Inc., net profit margin, long-term trends, comparison to industry (health care)
| Shockwave Medical Inc. | Health Care | |
|---|---|---|
| Dec 31, 2023 | 20.17% | 11.49% |
| Dec 31, 2022 | 44.10% | 14.65% |
| Dec 31, 2021 | -3.85% | 15.24% |
| Dec 31, 2020 | -96.92% | 10.27% |
| Dec 31, 2019 | -119.06% | 14.56% |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).