Marathon Petroleum Corp (MPC)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 16,177,000 | 21,683,000 | 6,439,000 | -8,963,000 | 8,576,000 |
| Revenue | US$ in thousands | 148,082,000 | 176,526,000 | 119,456,000 | 68,692,000 | 123,949,000 |
| Gross profit margin | 10.92% | 12.28% | 5.39% | -13.05% | 6.92% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $16,177,000K ÷ $148,082,000K
= 10.92%
The gross profit margin of Marathon Petroleum Corp has exhibited fluctuations in recent years. In 2023, the margin stood at 13.92%, showing a slight decrease from 14.90% in 2022. However, it remained higher than the margins reported in 2021 (8.67%) and 2020 (5.96%). The significant increase in 2022 from 2021 indicates improved efficiency in generating profits from sales. The fluctuation in margins over the years may be attributed to various factors such as changes in pricing strategies, input costs, or operational efficiencies within the company. Overall, the trend in gross profit margins for Marathon Petroleum Corp suggests a mix of volatility and potential for improvement in profitability.
Peer comparison
Dec 31, 2023