Civitas Resources Inc (CIVI)

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	1,940,793	2,076,973	2,142,577	2,667,663	2,800,218	3,002,143	2,212,370	1,220,505	541,851	340,386	218,953	123,537	52,927	144,218	159,117	207,610	278,136	264,682	289,703	261,258
Revenue (ttm)	US$ in thousands	3,296,241	3,066,349	3,106,445	3,597,935	3,775,144	3,476,852	2,665,287	1,674,922	923,213	476,935	347,546	228,560	215,005	232,434	248,784	298,938	311,230	297,776	323,327	310,341
Gross profit margin		58.88%	67.73%	68.97%	74.14%	74.18%	86.35%	83.01%	72.87%	58.69%	71.37%	63.00%	54.05%	24.62%	62.05%	63.96%	69.45%	89.37%	88.89%	89.60%	84.18%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,940,793K ÷ $3,296,241K
= 58.88%

The gross profit margin of Civitas Resources Inc has been consistent at 100.00% throughout the past eight quarters. This indicates that the company is effectively managing its production costs and generating a high level of profitability on its sales. A gross profit margin of 100.00% implies that for every dollar of revenue generated, the company is able to retain the entire amount after deducting the cost of goods sold. This stable and high gross profit margin reflects positively on the efficiency and competitiveness of Civitas Resources Inc in its industry.