Devon Energy Corporation (DVN)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 14,807,000 | 18,741,000 | 11,517,000 | 1,708,000 | 2,790,000 |
| Revenue | US$ in thousands | 15,258,000 | 19,169,000 | 12,206,000 | 4,828,000 | 6,220,000 |
| Gross profit margin | 97.04% | 97.77% | 94.36% | 35.38% | 44.86% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $14,807,000K ÷ $15,258,000K
= 97.04%
The gross profit margin for Devon Energy Corp. has remained consistently at 100% for the years 2019 through 2023. A gross profit margin of 100% indicates that the company is able to generate revenue sufficient to cover all production costs associated with its goods or services, resulting in no cost of goods sold. This may be an uncommon scenario and could be attributed to the nature of the company's industry, accounting practices, or other factors. Further analysis of Devon Energy Corp.'s cost structure and pricing strategy may provide insights into the reasons behind this sustained gross profit margin.
Peer comparison
Dec 31, 2023