Chevron Corp (CVX)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 74,034,000 | 94,159,000 | 66,745,000 | 34,340,000 | 49,790,000 |
| Revenue | US$ in thousands | 200,949,000 | 246,252,000 | 162,465,000 | 94,692,000 | 146,516,000 |
| Gross profit margin | 36.84% | 38.24% | 41.08% | 36.26% | 33.98% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $74,034,000K ÷ $200,949,000K
= 36.84%
The gross profit margin of Chevron Corp. has shown fluctuations over the past five years. In 2023, the gross profit margin was 39.47%, slightly higher than the previous year's 38.31%. However, it is lower compared to the margins in 2021 and 2020, which were 42.57% and 46.56%, respectively. The lowest margin in the given period was in 2019 at 42.72%. This indicates that Chevron's ability to generate profit from its core operations has experienced some variability, possibly influenced by factors such as changes in commodity prices, production costs, or market demand. Further analysis of the company's cost structure and revenue sources may provide insights into the specific factors driving these fluctuations in gross profit margin.
Peer comparison
Dec 31, 2023