Marathon Oil Corporation (MRO)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 6,338,000 | 7,719,000 | 4,944,000 | 2,163,000 | 4,668,000 |
| Revenue | US$ in thousands | 6,697,000 | 8,036,000 | 5,467,000 | 3,086,000 | 5,190,000 |
| Gross profit margin | 94.64% | 96.06% | 90.43% | 70.09% | 89.94% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $6,338,000K ÷ $6,697,000K
= 94.64%
Marathon Oil Corporation's gross profit margin has exhibited some fluctuations over the past five years. In 2023, the gross profit margin decreased to 87.08% from 90.85% in 2022, but it remained relatively high compared to earlier years. This decline may indicate increased costs or pricing pressures impacting the company's ability to generate profits from its operations. Despite the slight decrease, Marathon Oil Corporation has generally maintained strong gross profit margins above 80% in recent years, highlighting its efficiency in managing production costs and generating revenue from its core activities. Further analysis of the company's cost structure and pricing strategies could provide valuable insights into the factors driving these fluctuations in gross profit margin.
Peer comparison
Dec 31, 2023