Crescent Energy Co (CRGY)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|
| Gross profit | US$ in thousands | 2,129,790 | 3,546,250 | 1,880,880 |
| Revenue | US$ in thousands | 2,451,980 | 3,794,960 | 1,967,760 |
| Gross profit margin | 86.86% | 93.45% | 95.58% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $2,129,790K ÷ $2,451,980K
= 86.86%
Crescent Energy Co's gross profit margin has shown a declining trend over the past three years. In 2021, the company had a high gross profit margin of 95.58%, indicating that the company was able to generate a significant amount of profit after accounting for the direct costs of production. However, by the end of 2023, the gross profit margin had decreased to 86.86%, reflecting a lower percentage of revenue retained as profit.
The declining trend in the gross profit margin may indicate various factors such as increasing production costs, pricing pressures, or inefficiencies in operations. Further analysis of the company's cost structure, pricing strategy, and operational performance would be necessary to determine the specific reasons behind the decrease in the gross profit margin.
It is important for Crescent Energy Co to closely monitor its gross profit margin and take appropriate measures to improve it in order to ensure sustainable profitability and long-term success.
Peer comparison
Dec 31, 2023