ConocoPhillips (COP)

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	32,978,000	33,721,000	36,814,000	41,120,000	43,436,000	42,313,000	38,098,000	33,361,000	28,306,000	22,982,000	18,026,000	13,661,000	9,520,000	11,656,000	16,458,000	19,281,000	23,858,000	25,031,000	24,231,000	23,790,000
Revenue (ttm)	US$ in thousands	56,141,000	59,970,000	66,733,000	75,543,000	78,494,000	75,056,000	65,369,000	53,764,000	45,828,000	36,285,000	29,339,000	23,799,000	18,784,000	21,347,000	27,060,000	31,424,000	36,670,000	38,891,000	38,963,000	39,544,000
Gross profit margin		58.74%	56.23%	55.17%	54.43%	55.34%	56.38%	58.28%	62.05%	61.77%	63.34%	61.44%	57.40%	50.68%	54.60%	60.82%	61.36%	65.06%	64.36%	62.19%	60.16%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $32,978,000K ÷ $56,141,000K
= 58.74%

Conoco Phillips' gross profit margin has exhibited some fluctuation over the past eight quarters. The margin ranged from a low of 55.84% in Q1 2023 to a high of 62.01% in Q1 2022. In the most recent quarter, Q4 2023, the gross profit margin improved to 60.86%. Overall, the company has maintained a relatively healthy margin above 55% throughout the analyzed period. Further investigation into the factors that influenced these fluctuations may provide valuable insights into Conoco Phillips' operational efficiency and pricing strategies.