Chevron Corp (CVX)

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	74,034,000	77,949,000	84,769,000	93,933,000	94,159,000	93,705,000	86,506,000	74,304,000	66,745,000	54,458,000	44,288,000	31,248,000	33,325,000	31,204,000	36,414,000	50,589,000	49,790,000	61,506,000	64,477,000	64,008,000
Revenue (ttm)	US$ in thousands	200,949,000	210,242,000	222,806,000	242,672,000	246,252,000	237,908,000	215,974,000	184,809,000	162,465,000	139,582,000	119,323,000	95,220,000	94,692,000	105,796,000	117,461,000	142,817,000	146,516,000	152,518,000	160,389,000	163,775,000
Gross profit margin		36.84%	37.08%	38.05%	38.71%	38.24%	39.39%	40.05%	40.21%	41.08%	39.02%	37.12%	32.82%	35.19%	29.49%	31.00%	35.42%	33.98%	40.33%	40.20%	39.08%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $74,034,000K ÷ $200,949,000K
= 36.84%

Chevron Corp.'s gross profit margin has been relatively stable over the past eight quarters, ranging from 38.08% to 40.93%. The trend shows a slight decline in recent quarters, with the highest margin recorded in Q1 2022. Despite the fluctuations, the company has maintained a healthy gross profit margin above 38%, indicating efficient cost management and pricing strategies in its core operations. Further analysis of changes in production costs and revenue generation would be necessary to understand the underlying factors influencing the variations in gross profit margin over the period.