Middlesex Water Company (MSEX)

Operating profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Operating income (ttm)	US$ in thousands	53,210	50,923	46,244	41,598	39,223	39,128	42,881	42,300	47,333	45,525	40,374	40,100	33,211	35,203	36,956	36,527	37,420	36,648	35,454	35,019
Revenue (ttm)	US$ in thousands	191,877	183,372	174,987	165,353	160,542	160,340	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
Operating profit margin		27.73%	27.77%	26.43%	25.16%	24.43%	24.40%	26.94%	26.92%	29.37%	29.42%	27.44%	27.80%	24.55%	25.90%	27.18%	27.13%	27.93%	27.81%	27.37%	27.40%

December 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $53,210K ÷ $191,877K
= 27.73%

The operating profit margin of Middlesex Water Company has displayed some fluctuations over the periods analyzed. From March 31, 2020, to December 31, 2021, the operating profit margin was relatively stable, ranging from 27.40% to 27.93%. However, starting from March 31, 2022, there was a slight increase in the operating profit margin, reaching a peak of 29.42% on September 30, 2022.

Subsequently, there was a decline in the operating profit margin, dropping to 24.40% by September 30, 2023. This decline continued into December 31, 2023, before showing a slight recovery in the following periods. The operating profit margin increased to 27.77% by September 30, 2024, and remained relatively stable around 27.73% to 27.77% until the end of the data period on December 31, 2024.

Overall, while there were fluctuations in the operating profit margin of Middlesex Water Company, demonstrating both peaks and troughs, the company managed to maintain a relatively healthy operating profit margin above 24% throughout the analyzed periods. It is essential to further delve into the company's financial performance and factors influencing these fluctuations to gain a deeper understanding of its operating profitability.