The Idiot Index

← Back to dashboard
Sector
Operational MarkupApplied to regulated electric, gas, and water utilities. COGS captures fuel and purchased power; rates are set by regulators with an allowed return on capital, so Markup is bounded by regulation rather than competition. The interesting indicators in this sector are Labor Share…
OrderHighest first

Operational Markup in Utilities

No data for Operational Markup in Utilities.

What this measures

Full methodology →

Revenue per dollar of cost + operating expenses. The multiplier after legitimate operations.

Ratio
Operational Markup
Sector
Utilities
Methodology version
v1.0.0
Formula
Revenue / (COGS + OperatingExpenses)
Sector context

Applied to regulated electric, gas, and water utilities. COGS captures fuel and purchased power; rates are set by regulators with an allowed return on capital, so Markup is bounded by regulation rather than competition. The interesting indicators in this sector are Labor Share (workforce concentration) and Shareholder Extraction (regulated dividends vs grid investment).

The multiplier after legitimate operations. A high Markup combined with a low Operational Markup tells a specific story: surplus is being reinvested in the business. A high Markup combined with a high Operational Markup tells the opposite story: surplus is going to shareholders.

Source data: Revenues, CostOfGoodsAndServicesSold, OperatingExpenses (us-gaap) or equivalents in IFRS.