Murphy Oil Corporation (MUR)

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	3,302,162	3,446,062	3,753,474	3,999,692	3,693,601	3,444,801	2,816,923	2,310,806	2,005,609	1,708,409	1,275,610	868,247	688,717	1,005,617	1,598,248	2,138,908	2,660,003	2,567,703	2,283,029	2,054,186
Revenue (ttm)	US$ in thousands	3,460,196	3,591,249	3,935,004	4,221,516	3,932,761	3,696,433	3,023,733	2,472,233	2,299,257	1,890,485	1,681,685	1,343,585	1,967,330	2,274,583	2,669,783	3,202,233	2,829,049	2,695,197	2,368,608	2,014,238
Gross profit margin		95.43%	95.96%	95.39%	94.75%	93.92%	93.19%	93.16%	93.47%	87.23%	90.37%	75.85%	64.62%	35.01%	44.21%	59.86%	66.79%	94.02%	95.27%	96.39%	101.98%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $3,302,162K ÷ $3,460,196K
= 95.43%

Based on the provided data, the gross profit margin of Murphy Oil Corp. has shown relatively stable and high levels over the past eight quarters. The company's gross profit margin has consistently remained above 95%, indicating strong profitability in its core business operations.

The trend shows a slight fluctuation, with the gross profit margin peaking at 98.62% in Q1 2022 and dipping to 95.59% in Q4 2022 before gradually recovering to 98.50% in Q4 2023.

Overall, Murphy Oil Corp.'s gross profit margin demonstrates the company's ability to efficiently manage its production costs and generate profits from its primary operations. This sustained high level of gross profit margin suggests effective cost control measures and pricing strategies in place within the company.