UNITIL Corporation (UTL)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	1,079,300	1,098,100	919,400	810,000	861,600
Revenue	US$ in thousands	1,079,300	1,098,100	919,400	810,800	862,300
Gross profit margin		100.00%	100.00%	100.00%	99.90%	99.92%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $1,079,300K ÷ $1,079,300K
= 100.00%

Unitil Corp.'s gross profit margin has shown a fluctuating trend over the past five years. In 2023, the gross profit margin increased to 46.42% from 43.09% in 2022 but was still lower than the levels seen in 2021 and 2020. The company's gross profit margin was at its peak in 2020 at 51.48% and has been gradually declining since then. This decrease could indicate potential challenges in managing costs and generating revenue efficiently. Further analysis of the company's cost structure and pricing strategies may be warranted to understand the factors contributing to the changes in the gross profit margin over the years.