Devon Energy Corporation (DVN)
Gross profit margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 15,395,000 | 15,189,000 | 15,020,000 | 14,573,000 | 14,810,000 | 14,966,000 | 16,567,000 | 18,741,000 | 18,741,000 | 18,703,000 | 16,725,000 | 13,495,000 | 11,243,000 | 8,247,000 | 5,811,000 | 3,816,000 | 1,091,000 | 1,542,000 | 1,643,000 | 2,410,000 |
| Revenue (ttm) | US$ in thousands | 15,940,000 | 15,682,000 | 15,494,000 | 15,031,000 | 15,258,000 | 15,412,000 | 17,008,000 | 19,180,000 | 19,169,000 | 19,143,000 | 17,177,000 | 13,968,000 | 12,206,000 | 9,213,000 | 6,814,000 | 4,791,000 | 4,828,000 | 5,137,000 | 5,816,000 | 7,228,000 |
| Gross profit margin | 96.58% | 96.86% | 96.94% | 96.95% | 97.06% | 97.11% | 97.41% | 97.71% | 97.77% | 97.70% | 97.37% | 96.61% | 92.11% | 89.51% | 85.28% | 79.65% | 22.60% | 30.02% | 28.25% | 33.34% |
December 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $15,395,000K ÷ $15,940,000K
= 96.58%
Devon Energy Corporation's gross profit margin has shown a fluctuating trend over the observed periods. The margin was relatively stable around the range of 20-30% from March 2020 to December 2021. However, there was a significant improvement in performance starting from March 2021 when the margin surged to 79.65% and continued to rise substantially, reaching its peak at 97.77% by December 2022.
From March 2023 to December 2024, the gross profit margin slightly decreased but remained at high levels above 96%. This indicates that Devon Energy Corporation has been able to effectively manage its production costs and increase its efficiency in generating gross profits.
Overall, the increasing trend in the gross profit margin reflects positively on the company's ability to control its cost of goods sold and improve profitability over the analyzed periods. Nonetheless, it is important for the company to sustain this high level of performance and continue to optimize its operations to ensure long-term financial success.
Peer comparison
Dec 31, 2024
See also:
Devon Energy Corporation Gross Profit Margin (Quarterly Data)