Hess Corporation (HES)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	9,861,000	10,951,000	7,146,000	2,217,000	5,920,000
Revenue	US$ in thousands	10,511,000	11,324,000	7,583,000	4,804,000	6,510,000
Gross profit margin		93.82%	96.71%	94.24%	46.15%	90.94%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $9,861,000K ÷ $10,511,000K
= 93.82%

Hess Corporation has consistently reported a gross profit margin of 100% over the past five years, which indicates that the company has been able to effectively manage its production costs and generate a significant profit on its sales revenue. This consistent high gross profit margin reflects the company's ability to control its cost of goods sold and maintain a strong pricing strategy. It suggests that Hess Corporation is operating efficiently and effectively in terms of managing its production processes and pricing of its products.