PNM Resources Inc (PNM)

Gross 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
Gross profit (ttm)	US$ in thousands	655,831	692,324	784,367	772,926	740,455	721,932	689,808	821,700	901,661	574,045	688,509	622,864	606,727	1,150,202	1,115,990	1,100,729	1,114,618	1,114,230	1,107,998	1,135,721
Revenue (ttm)	US$ in thousands	1,939,198	2,102,903	2,326,940	2,349,514	2,249,555	2,107,811	1,932,474	1,859,284	1,779,873	1,705,074	1,622,988	1,554,097	1,523,012	1,507,880	1,469,001	1,441,580	1,457,603	1,457,215	1,446,295	1,468,380
Gross profit margin		33.82%	32.92%	33.71%	32.90%	32.92%	34.25%	35.70%	44.19%	50.66%	33.67%	42.42%	40.08%	39.84%	76.28%	75.97%	76.36%	76.47%	76.46%	76.61%	77.35%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $655,831K ÷ $1,939,198K
= 33.82%

The gross profit margin of PNM Resources Inc has shown fluctuations over the past eight quarters. The margin ranged from a low of 49.04% in Q1 2023 to a high of 54.90% in Q1 2022. Overall, there has been some variability in the gross profit margin, with the latest quarter (Q4 2023) standing at 53.91%. This indicates that the company generated 53.91 cents of gross profit for every dollar of revenue in Q4 2023, showing a moderate improvement compared to the previous quarter. However, it is important to further investigate the factors contributing to these fluctuations to better understand the company's operational efficiency and pricing strategies.