Chesapeake Utilities Corporation (CPK)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 548,816 | 576,632 | 475,770 | 398,317 | 392,825 |
| Revenue | US$ in thousands | 670,604 | 680,704 | 569,968 | 488,198 | 479,605 |
| Gross profit margin | 81.84% | 84.71% | 83.47% | 81.59% | 81.91% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $548,816K ÷ $670,604K
= 81.84%
The gross profit margin of Chesapeake Utilities Corp has shown some fluctuations over the past five years. In 2023, the gross profit margin increased to 67.72% from 61.73% in 2022. This indicates an improvement in the company's ability to generate profits from its core business operations relative to its cost of goods sold. However, it is still lower than the 71.75% reported in 2020.
Overall, the company has maintained relatively healthy gross profit margins above 60% in recent years, which is generally favorable and indicates efficient cost management and pricing strategies. It is important for Chesapeake Utilities Corp to continue monitoring and optimizing its cost structure to sustain and potentially improve its gross profit margins in the future.
Peer comparison
Dec 31, 2023