Murphy USA Inc (MUSA)

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	826,000	782,300	846,900	910,500	968,400	955,800	802,200	730,100	604,000	535,500	477,500	522,800	559,000	540,100	560,500	380,700	268,500	308,000	257,300	283,700
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
Operating profit margin		3.84%	3.59%	3.81%	3.89%	4.13%	4.18%	3.77%	3.85%	3.48%	3.47%	3.49%	4.50%	4.96%	4.55%	4.42%	2.70%	1.91%	2.19%	1.81%	1.99%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $826,000K ÷ $21,529,400K
= 3.84%

Murphy USA Inc's operating profit margin has shown some fluctuations over the past eight quarters. In Q4 2023, the operating profit margin was 3.84%, which was slightly higher than the previous quarter at 3.58% in Q3 2023. However, it was lower compared to the same quarter last year at 4.13% in Q4 2022.

The company's operating profit margin peaked at 4.18% in Q3 2022 but has generally been ranging between 3.77% to 3.89% in recent quarters. This indicates that Murphy USA Inc has been able to consistently generate profits from its core operations, albeit at varying levels of efficiency.

It is important for the company to monitor and analyze the factors contributing to these fluctuations in operating profit margin to identify areas for improvement and ensure sustained profitability in the long term. The management should focus on cost control measures and revenue optimization strategies to maintain or improve the operating profit margin in the future.