Chevron Corp (CVX)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 21,369,000 | 35,465,000 | 15,625,000 | -5,543,000 | 2,924,000 |
| Revenue | US$ in thousands | 200,949,000 | 246,252,000 | 162,465,000 | 94,692,000 | 146,516,000 |
| Net profit margin | 10.63% | 14.40% | 9.62% | -5.85% | 2.00% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $21,369,000K ÷ $200,949,000K
= 10.63%
Chevron Corp.'s net profit margin has fluctuated over the past five years, ranging from a low of -5.87% in 2020 to a high of 15.05% in 2022. The net profit margin measures the percentage of revenue that translates into profit after all expenses are deducted. The company's strong net profit margin in 2022 indicates efficient cost management and a healthy bottom line. However, the significant drop to -5.87% in 2020 suggests challenges or losses that impacted profitability. The improvement to 10.85% in 2023 shows some recovery in profitability, but it may still be lower than the company's peak performance in 2022. The trend in net profit margin indicates the company's ability to generate profits relative to its revenue, reflecting its operational efficiency and financial health over the years.
Peer comparison
Dec 31, 2023