Middlesex Water Company (MSEX)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	37,750	112,820	92,520	93,580	89,496
Revenue	US$ in thousands	153,788	161,157	135,679	133,956	127,194
Gross profit margin		24.55%	70.01%	68.19%	69.86%	70.36%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $37,750K ÷ $153,788K
= 24.55%

Middlesex Water Co. has consistently reported a gross profit margin of 100% over the past five years, indicating that the company is effectively controlling its direct costs of goods sold and generating a significant margin on its sales. This high and consistent gross profit margin suggests that Middlesex Water Co. may have a strong pricing strategy, efficient manufacturing processes, or effective cost management practices in place. It is important to note that while a 100% gross profit margin can signal strong performance, it may also be a result of the specific accounting treatment or the nature of the company's business operations. Further analysis of the company's operating expenses and net profit margin would provide a more comprehensive assessment of Middlesex Water Co.'s overall financial health and profitability.