Diamondback Energy Inc (FANG)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 8,246,000 | 9,485,000 | 6,642,000 | -3,303,000 | 3,063,000 |
| Revenue | US$ in thousands | 8,412,000 | 9,643,000 | 6,797,000 | 2,813,000 | 3,964,000 |
| Gross profit margin | 98.03% | 98.36% | 97.72% | -117.42% | 77.27% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $8,246,000K ÷ $8,412,000K
= 98.03%
Diamondback Energy Inc has maintained a consistent and impressive gross profit margin of 100.00% over the past five years, indicating that the company is effectively managing its production costs and generating substantial profits from its core business operations. This stability in gross profit margin suggests that Diamondback Energy Inc has a strong pricing strategy, efficient cost controls, and potentially a competitive advantage in its industry. It is worth noting that while a high gross profit margin is generally favorable, further analysis of other financial metrics is recommended to provide a more comprehensive assessment of the company's overall financial performance and sustainability.
Peer comparison
Dec 31, 2023