Murphy USA Inc (MUSA)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	18,766,000	20,789,000	14,899,700	9,168,200	11,835,700
Revenue	US$ in thousands	21,529,400	23,446,100	17,360,500	11,264,300	14,034,600
Gross profit margin		87.16%	88.67%	85.83%	81.39%	84.33%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $18,766,000K ÷ $21,529,400K
= 87.16%

The gross profit margin of Murphy USA Inc has shown fluctuations over the past five years. In 2023, the gross profit margin stood at 10.75%, demonstrating a slight increase from the previous year. However, when compared to 2020, the margin has declined significantly from 12.81% to 10.75%. The company experienced a notable improvement in gross profit margin in 2020 compared to the lower margin in 2019. Overall, it is important for the company to consistently monitor and manage its cost of goods sold in relation to its revenue to sustain or improve its gross profit margin in the future.