NOV Inc. (NOV)

Gross profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross profit	US$ in thousands	2,010,000	1,833,000	1,334,000	774,000	434,000
Revenue	US$ in thousands	8,870,000	8,583,000	7,237,000	5,524,000	6,090,000
Gross profit margin		22.66%	21.36%	18.43%	14.01%	7.13%

December 31, 2024 calculation

Gross profit margin = Gross profit ÷ Revenue
= $2,010,000K ÷ $8,870,000K
= 22.66%

The gross profit margin of NOV Inc. has shown a positive trend over the past five years. Starting at 7.13% on December 31, 2020, it steadily increased to 22.66% by December 31, 2024. This improvement indicates that the company has been able to enhance its efficiency in generating profits from its core operations. A rising gross profit margin typically suggests that NOV Inc. has been able to control its production costs effectively relative to its revenue, which can lead to potentially stronger financial performance and competitiveness in the market.