Devon Energy Corporation (DVN)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 15,376,000 | 14,807,000 | 18,741,000 | 11,517,000 | 1,708,000 |
| Revenue | US$ in thousands | 15,940,000 | 15,258,000 | 19,169,000 | 12,206,000 | 4,828,000 |
| Gross profit margin | 96.46% | 97.04% | 97.77% | 94.36% | 35.38% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $15,376,000K ÷ $15,940,000K
= 96.46%
Based on the provided data, Devon Energy Corporation has shown a significant improvement in its gross profit margin over the years. In December 31, 2020, the gross profit margin stood at 35.38%, which increased substantially to 94.36% by December 31, 2021. This upward trend continued, with the gross profit margin reaching 97.77% by December 31, 2022, and maintaining a high level at 97.04% by December 31, 2023.
However, there was a slight decrease in the gross profit margin to 96.46% by December 31, 2024. Overall, Devon Energy Corporation's gross profit margin has demonstrated a remarkable increase, reflecting enhanced efficiency in generating profits from its core operations. This positive trend suggests effective cost management and pricing strategies, which could contribute to the company's financial performance and competitiveness in the industry.
Peer comparison
Dec 31, 2024