Public Service Enterprise Group Inc (PEG)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 6,552,000 | 4,924,000 | 2,411,000 | 6,542,000 | 6,668,000 |
| Revenue | US$ in thousands | 11,237,000 | 9,800,000 | 9,722,000 | 9,603,000 | 10,076,000 |
| Gross profit margin | 58.31% | 50.24% | 24.80% | 68.12% | 66.18% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $6,552,000K ÷ $11,237,000K
= 58.31%
The gross profit margin of Public Service Enterprise Group Inc. has fluctuated over the past five years. In 2023, the gross profit margin improved significantly to 70.99% from 59.00% in 2022. This increase indicates that the company was able to generate a higher percentage of revenue after accounting for the cost of goods sold.
In 2021, the gross profit margin was 64.01%, showing a slight decrease from the previous year. The company experienced a higher margin in 2020 at 68.18%, indicating efficient management of production costs relative to revenue. Similarly, in 2019, the gross profit margin was 66.53%, demonstrating consistency in managing production costs.
Overall, the increasing trend in the gross profit margin from 2020 to 2023 is a positive indication of the company's ability to improve operational efficiency and maintain profitability. It suggests that Public Service Enterprise Group Inc. was able to enhance its pricing strategy or reduce production costs to achieve a higher gross margin.
Peer comparison
Dec 31, 2023