Chevron Corp (CVX)

Net 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
Net income (ttm)	US$ in thousands	21,369,000	25,463,000	30,168,000	35,780,000	35,465,000	34,167,000	29,047,000	20,507,000	15,625,000	9,905,000	3,587,000	-7,765,000	-5,543,000	-11,488,000	-8,701,000	3,874,000	2,924,000	13,264,000	14,731,000	13,835,000
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
Net profit margin		10.63%	12.11%	13.54%	14.74%	14.40%	14.36%	13.45%	11.10%	9.62%	7.10%	3.01%	-8.15%	-5.85%	-10.86%	-7.41%	2.71%	2.00%	8.70%	9.18%	8.45%

December 31, 2023 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $21,369,000K ÷ $200,949,000K
= 10.63%

To analyze Chevron Corp.'s net profit margin, we observe fluctuations across several quarters. The net profit margin indicates how much of each dollar of revenue is profit after all expenses have been deducted. Chevron's net profit margin has ranged from 10.85% to 15.41% over the past eight quarters.

In Q1 2023, the net profit margin was 15.41%, which was the highest in the given period. This suggests effective cost management and operational efficiency during that quarter. Conversely, Q4 2023 saw a slight decrease to 10.85%, which might indicate higher expenses relative to revenue during that quarter.

Overall, Chevron has maintained a relatively stable net profit margin, with some fluctuations over time. It is essential to further investigate the reasons behind these fluctuations to assess the company's financial performance accurately.