Middlesex Water Company (MSEX)

Gross profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross profit	US$ in thousands	134,465	37,750	112,820	92,520	93,580
Revenue	US$ in thousands	191,877	166,274	161,157	135,679	133,956
Gross profit margin		70.08%	22.70%	70.01%	68.19%	69.86%

December 31, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $134,465K ÷ $191,877K
= 70.08%

The gross profit margin of Middlesex Water Company has shown some fluctuations over the years. In 2020, the gross profit margin was reported at 69.86%, which decreased slightly to 68.19% by the end of 2021. However, there was an improvement in 2022, with the gross profit margin rising to 70.01%.

Unexpectedly, there was a significant drop in the gross profit margin to 22.70% by the end of 2023, which might indicate some operational challenges or changes in the cost structure during that year. It's important for stakeholders to further investigate the reasons behind this sharp decline.

Fortunately, the gross profit margin recovered in 2024, reaching 70.08%, which is even higher than the level in 2022. Overall, the company has demonstrated the ability to maintain a relatively high gross profit margin, signaling efficient operational management and cost control strategies over the years.