Marathon Petroleum Corp (MPC)

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	13,879,000	16,532,000	18,814,000	23,801,000	21,489,000	20,675,000	15,220,000	7,948,000	6,428,000	22,289,000	19,341,000	18,076,000	10,902,000	24,022,000	27,822,000	30,347,000	38,321,000	39,562,000	38,696,000	38,071,000
Revenue (ttm)	US$ in thousands	112,014,000	149,401,000	155,477,000	172,956,000	176,332,000	174,030,000	159,303,000	134,956,000	119,445,000	102,060,000	86,991,000	72,416,000	75,044,000	88,164,000	102,095,000	120,790,000	123,949,000	125,190,000	117,135,000	105,905,000
Gross profit margin		12.39%	11.07%	12.10%	13.76%	12.19%	11.88%	9.55%	5.89%	5.38%	21.84%	22.23%	24.96%	14.53%	27.25%	27.25%	25.12%	30.92%	31.60%	33.04%	35.95%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $13,879,000K ÷ $112,014,000K
= 12.39%

Marathon Petroleum Corp's gross profit margin has displayed fluctuating trends over the past eight quarters, ranging from a low of 8.78% in Q1 2022 to a high of 16.59% in Q1 2023. The gross profit margin shows the company's ability to generate profit from its core operations after deducting the cost of goods sold.

The company exhibited a general improvement in its gross profit margin from Q1 2022 to Q1 2023, indicating potentially enhanced efficiency in managing production costs. However, the subsequent decline in Q4 2023 suggests a reversal in this positive trend.

Overall, Marathon Petroleum Corp's gross profit margin has shown some volatility, and it would be beneficial to further investigate the factors influencing these fluctuations to assess the company's operational performance and profitability.