Diamondback Energy Inc (FANG)

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	8,254,000	8,060,000	8,157,000	9,004,000	9,492,000	9,474,000	8,943,000	7,859,000	6,647,000	4,396,000	1,722,000	-2,058,000	-3,351,000	-1,969,000	-212,000	2,919,000	3,640,000	3,167,759	2,651,742	2,066,039
Revenue (ttm)	US$ in thousands	8,412,000	8,214,000	8,311,000	9,160,000	9,643,000	9,635,000	9,108,000	8,021,000	6,797,000	5,544,000	4,354,000	3,098,000	2,813,000	3,148,000	3,403,000	3,999,000	3,964,000	3,493,000	3,055,000	2,561,000
Gross profit margin		98.12%	98.13%	98.15%	98.30%	98.43%	98.33%	98.19%	97.98%	97.79%	79.29%	39.55%	-66.43%	-119.13%	-62.55%	-6.23%	72.99%	91.83%	90.69%	86.80%	80.67%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $8,254,000K ÷ $8,412,000K
= 98.12%

Diamondback Energy Inc has consistently maintained a gross profit margin of 100% throughout the quarters listed in the table. This indicates that the company is effectively controlling its production costs and generating significant revenue from its core operations. A high gross profit margin typically suggests strong pricing power, efficient cost management, or both. However, analyzing the gross profit margin alone does not provide insights into the company's overall profitability, as other factors such as operating expenses and capital structure also impact the bottom line. Further investigation into these areas would be necessary to gain a more comprehensive understanding of Diamondback Energy Inc's financial performance.