National Fuel Gas Company (NFG)

Gross profit margin

		Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020
Gross profit	US$ in thousands	1,158,230	1,616,520	1,665,200	1,450,780	1,203,380
Revenue	US$ in thousands	1,944,810	2,173,770	2,186,050	1,742,660	1,546,290
Gross profit margin		59.55%	74.36%	76.17%	83.25%	77.82%

September 30, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $1,158,230K ÷ $1,944,810K
= 59.55%

National Fuel Gas Company's gross profit margin has been showing a decreasing trend over the past five years. The margin declined from 77.82% in 2020 to 59.55% in 2024. This downward trend suggests that the company's cost of goods sold has been increasing relative to its revenues, impacting its profitability. It is important for the company to investigate the factors contributing to this decline in gross profit margin and take necessary steps to improve operational efficiency and cost management to maintain a healthy level of profitability.