Murphy Oil Corporation (MUR)

Operating 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
Operating income (ttm)	US$ in thousands	1,042,029	1,163,320	1,538,899	1,925,630	1,586,710	1,572,602	1,042,885	501,061	281,435	-184,195	-685,621	-1,069,542	-1,362,309	-1,243,445	-738,926	-193,786	445,293	533,481	429,777	281,253
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
Operating profit margin		30.11%	32.39%	39.11%	45.61%	40.35%	42.54%	34.49%	20.27%	12.24%	-9.74%	-40.77%	-79.60%	-69.25%	-54.67%	-27.68%	-6.05%	15.74%	19.79%	18.14%	13.96%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,042,029K ÷ $3,460,196K
= 30.11%

The operating profit margin of Murphy Oil Corp. has displayed fluctuations over the past eight quarters. In Q1 2022, the operating profit margin was at its lowest at 24.82%, showing a gradual increase in the subsequent quarters. The margin peaked in Q1 2023 at 46.24% before declining to 31.24% in Q4 2023. Overall, the operating profit margin has been relatively healthy, ranging from mid-20s to mid-40s percentages, indicating efficient cost management and operational performance. Further examination of the company's cost structure and revenue generation strategies would provide a clearer understanding of the factors influencing these fluctuations in operating profit margin.