Middlesex Water Company (MSEX)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	37,550	106,245	108,967	107,886	112,819	109,765	103,238	100,855	92,126	95,469	95,353	94,089	93,579	93,406	91,482	89,966	89,495	92,024	93,136	94,342
Revenue (ttm)	US$ in thousands	153,588	156,997	159,166	157,131	161,158	154,740	147,137	144,256	135,282	135,917	135,959	134,658	133,956	131,761	129,520	127,795	127,194	128,174	129,392	130,640
Gross profit margin		24.45%	67.67%	68.46%	68.66%	70.01%	70.94%	70.16%	69.91%	68.10%	70.24%	70.13%	69.87%	69.86%	70.89%	70.63%	70.40%	70.36%	71.80%	71.98%	72.22%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $37,550K ÷ $153,588K
= 24.45%

Middlesex Water Co. has consistently maintained a gross profit margin of 100% across all quarters in the provided data. This indicates that the company is effectively managing its production costs and achieving a high level of efficiency in generating revenue from its core operations. A gross profit margin of 100% suggests that the company is able to sell its products or services at a price significantly above the cost of goods sold. This level of profitability can be attributed to strong cost control measures, pricing strategies, or a favorable product mix. It is important to note that while a high gross profit margin is generally favorable, other financial ratios and aspects of the company's performance should also be considered for a more comprehensive analysis of its overall financial health.