Devon Energy Corporation (DVN)

Operating 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
Operating income (ttm)	US$ in thousands	14,375,000	14,585,000	16,183,000	18,339,000	18,365,000	18,288,000	16,300,000	13,125,000	10,690,000	7,662,000	5,153,000	3,090,000	-2,248,000	-1,638,000	-1,509,000	-783,000	3,695,000	6,082,000	7,430,000	6,668,000
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
Operating profit margin		94.21%	94.63%	95.15%	95.62%	95.81%	95.53%	94.89%	93.96%	87.58%	83.17%	75.62%	64.50%	-46.56%	-31.89%	-25.95%	-10.83%	59.41%	74.53%	88.57%	80.24%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $14,375,000K ÷ $15,258,000K
= 94.21%

The operating profit margin of Devon Energy Corp. has shown some variance in recent quarters. In Q1 2023, the margin decreased to 41.38% from 41.32% in Q4 2022, which may indicate some challenges in managing operating expenses or generating sufficient revenue. However, there was a more significant drop in Q2 2023, where the margin fell to 37.06%, possibly highlighting operational inefficiencies or financial performance issues during that period.

The margin improved in Q3 2023 to 32.29% but then slightly decreased again in Q4 2023 to 32.18%. These fluctuations suggest some volatility in the company's ability to control costs and generate profits from its core operations.

Overall, Devon Energy Corp. has maintained relatively healthy operating profit margins above 30% in most quarters, indicating effective cost management and profitable operations. However, management should continue to monitor and address any potential factors impacting the company's operating profit margin to ensure sustained financial performance.