Murphy USA Inc (MUSA)

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	18,765,900	19,037,700	19,460,900	20,697,800	20,788,900	20,255,200	18,717,100	16,440,200	14,899,700	13,061,700	11,388,800	9,490,900	9,168,100	10,274,300	11,044,200	12,350,500	12,304,200	12,345,700	12,534,000	9,064,900
Revenue (ttm)	US$ in thousands	21,529,400	21,811,100	22,211,500	23,399,400	23,446,100	22,849,200	21,256,200	18,943,300	17,360,500	15,429,900	13,676,300	11,608,700	11,264,300	11,883,100	12,684,200	14,103,500	14,034,600	14,059,600	14,206,200	14,248,000
Gross profit margin		87.16%	87.28%	87.62%	88.45%	88.67%	88.65%	88.05%	86.79%	85.83%	84.65%	83.27%	81.76%	81.39%	86.46%	87.07%	87.57%	87.67%	87.81%	88.23%	63.62%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $18,765,900K ÷ $21,529,400K
= 87.16%

The gross profit margin of Murphy USA Inc has shown stability over the past eight quarters, ranging from 10.06% to 10.75%. The company's ability to generate profit from its core operations has been consistent, with the highest margin recorded in Q4 2023 at 10.75% and the lowest in Q2 2022 at 10.06%. Despite some fluctuations, the margins have generally remained within a narrow range, indicating a relatively steady performance in converting revenue into gross profit. It is important for the company to continue monitoring and managing factors affecting the gross profit margin to sustain its profitability level over time.