Devon Energy Corporation (DVN)

Gross 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
Gross profit (ttm)	US$ in thousands	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	4,194,000	6,313,000	7,700,000	7,302,000
Revenue (ttm)	US$ in thousands	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	6,220,000	8,161,000	8,389,000	8,310,000
Gross profit margin		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%	67.43%	77.36%	91.79%	87.87%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $14,810,000K ÷ $15,258,000K
= 97.06%

Based on the data provided, Devon Energy Corp. has consistently maintained a gross profit margin of 100% across all quarters from Q1 2022 to Q4 2023. A gross profit margin of 100% indicates that the company is able to generate revenue that fully covers its cost of goods sold, resulting in all revenue being retained as gross profit. This exceptional performance suggests that Devon Energy Corp. effectively manages its production costs and pricing strategies to maximize profitability at the gross profit level. Overall, the consistent 100% gross profit margin reflects the company's strong operational efficiency and effective cost control measures.