Chevron Corp (CVX)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 45,006,000 | 65,133,000 | 42,005,000 | 9,804,000 | 24,262,000 |
| Revenue | US$ in thousands | 200,949,000 | 246,252,000 | 162,465,000 | 94,692,000 | 146,516,000 |
| Operating profit margin | 22.40% | 26.45% | 25.85% | 10.35% | 16.56% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $45,006,000K ÷ $200,949,000K
= 22.40%
Chevron Corp.'s operating profit margin has exhibited fluctuations over the past five years. In 2023, the operating profit margin stood at 13.32%, representing a decrease from the prior year's 16.95%. The company experienced a significant improvement in operating efficiency compared to 2021 when the margin was 10.40%. In 2020, Chevron had a negative operating profit margin of -6.95%, indicating that its operating expenses exceeded its revenues. The slight improvement in 2019, with an operating profit margin of 0.07%, marked the beginning of a positive trend. Overall, Chevron's operating profit margins have shown variability, with a positive trend in recent years, but careful monitoring is necessary to assess ongoing operational performance.
Peer comparison
Dec 31, 2023