NewJersey Resources Corporation (NJR)

Gross profit margin

		Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Gross profit	US$ in thousands	2,657,350	4,499,160	3,286,600	2,979,840	2,522,500
Revenue	US$ in thousands	2,674,370	4,515,980	3,389,420	2,991,430	2,543,480
Gross profit margin		99.36%	99.63%	96.97%	99.61%	99.18%

September 30, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $2,657,350K ÷ $2,674,370K
= 99.36%

The gross profit margin of New Jersey Resources Corporation has exhibited fluctuating trends over the past five years. In the most recent period ending September 30, 2023, the gross profit margin stood at 50.50%, showcasing a substantial improvement from the prior year. This signifies that the company was able to generate higher revenue relative to the cost of goods sold, suggesting efficient management of production and pricing strategies. The significant increase in gross profit margin reflects positively on the company's ability to generate profits from its core operations. Further analysis of the underlying factors contributing to this improvement would provide deeper insights into the company's operational efficiency and pricing strategies.