NOV Inc. (NOV)
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 | 1,833,000 | 1,779,000 | 1,679,000 | 1,531,000 | 1,334,000 | 1,093,000 | 910,000 | 832,000 | 774,000 | 506,000 | 460,000 | 366,000 | 434,000 | 876,000 | 888,000 | 813,000 | 845,000 | 878,000 | 1,120,000 | 1,413,000 |
| Revenue (ttm) | US$ in thousands | 8,583,000 | 8,313,000 | 8,017,000 | 7,651,000 | 7,237,000 | 6,681,000 | 6,133,000 | 5,823,000 | 5,524,000 | 5,334,000 | 5,377,000 | 5,456,000 | 6,090,000 | 7,044,000 | 7,786,000 | 8,422,000 | 8,479,000 | 8,596,000 | 8,624,000 | 8,598,000 |
| Gross profit margin | 21.36% | 21.40% | 20.94% | 20.01% | 18.43% | 16.36% | 14.84% | 14.29% | 14.01% | 9.49% | 8.55% | 6.71% | 7.13% | 12.44% | 11.41% | 9.65% | 9.97% | 10.21% | 12.99% | 16.43% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,833,000K ÷ $8,583,000K
= 21.36%
NOV Inc's gross profit margin has shown a consistent upward trend over the past eight quarters, reflecting improved efficiency in generating profits from its core business operations. The company's gross profit margin increased from 14.29% in Q1 2022 to 21.36% in Q4 2023, indicating a steady improvement in profitability.
This positive trend suggests that NOV Inc has been effectively managing its production costs and pricing strategies to enhance its profitability. The gradual increase in the gross profit margin over time indicates the company's ability to generate more revenue relative to its cost of goods sold.
Overall, NOV Inc's improving gross profit margin is a positive indicator of its operational efficiency and financial health, demonstrating its ability to effectively control costs and optimize revenue generation.
Peer comparison
Dec 31, 2023