Middlesex Water Company (MSEX)

Operating 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
Operating income (ttm)	US$ in thousands	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	35,520	35,114	36,049	37,820
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
Operating profit margin		25.54%	24.92%	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%	27.93%	27.40%	27.86%	28.95%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $39,223K ÷ $153,588K
= 25.54%

Middlesex Water Co.'s operating profit margin has fluctuated over the past eight quarters. In Q4 2023, the operating profit margin was 23.59%, slightly lower than Q3 2023 at 23.50%. However, it was notably lower compared to Q2 2023 and Q1 2023, where the operating profit margin stood at 25.60% and 25.73% respectively.

Looking back at Q4 2022 and Q3 2022, we observe that the operating profit margin was relatively stable, ranging from 23.46% to 25.92%. Q2 2022 showed a slight dip to 23.46%, but it then recovered in Q1 2022 to 23.75%.

Overall, Middlesex Water Co.'s operating profit margin has shown some variability in recent quarters, with the company experiencing both peaks and troughs. It is important to monitor trends over time and assess the reasons behind these fluctuations to better understand the company's financial performance.