Northwest Natural Gas Co (NWN)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	1,005,330	860,192	691,378	620,721	575,015
Revenue	US$ in thousands	1,197,480	1,037,350	860,400	773,679	746,372
Gross profit margin		83.95%	82.92%	80.36%	80.23%	77.04%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $1,005,330K ÷ $1,197,480K
= 83.95%

Northwest Natural Holding Co's gross profit margin has shown a slight decline from 2021 to 2023. The gross profit margin decreased from 66.03% in 2021 to 58.26% in 2023. This decline may indicate potential challenges in maintaining profitability in the cost structure or pricing strategy. It is essential for the company to assess the factors contributing to this trend and take necessary actions to improve efficiency and profitability in the future.