EOG Resources Inc (EOG)

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	23,282,000	23,619,000	24,959,000	26,751,000	24,692,000	23,967,000	21,171,000	17,958,000	17,694,000	15,010,500	12,511,530	9,202,634	8,692,714	10,047,464	12,064,854	15,858,470	16,708,810	16,963,100	17,529,400	16,728,190
Revenue (ttm)	US$ in thousands	24,186,000	24,548,000	25,929,000	27,763,000	25,702,000	25,027,000	22,199,000	18,931,000	18,642,000	15,563,500	13,044,500	10,008,500	11,032,500	12,387,250	14,444,710	18,039,340	17,379,980	17,634,270	18,112,430	17,652,880
Gross profit margin		96.26%	96.22%	96.26%	96.35%	96.07%	95.76%	95.37%	94.86%	94.91%	96.45%	95.91%	91.95%	78.79%	81.11%	83.52%	87.91%	96.14%	96.19%	96.78%	94.76%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $23,282,000K ÷ $24,186,000K
= 96.26%

Based on the data provided in the table, it is evident that EOG Resources, Inc. has consistently maintained a gross profit margin of 100.00% across all quarters for the years 2022 and 2023. This indicates that the company is efficiently managing its production costs and generating significant profits from its operations. A gross profit margin of 100.00% implies that EOG Resources is able to recover all of its production costs and still have a margin that equals the total revenue generated from sales. Such a high and consistent gross profit margin is a positive sign for the company's financial health and operational efficiency.