Oceaneering International Inc (OII)
Gross profit margin
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
Gross profit | US$ in thousands | 398,971 | 307,377 | 264,065 | 163,941 | 98,244 |
Revenue | US$ in thousands | 2,424,710 | 2,066,080 | 1,869,280 | 1,827,890 | 2,048,120 |
Gross profit margin | 16.45% | 14.88% | 14.13% | 8.97% | 4.80% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $398,971K ÷ $2,424,710K
= 16.45%
Oceaneering International, Inc.'s gross profit margin has exhibited an upward trend over the past five years, indicating an improvement in the company's ability to generate profits from its core business operations. The gross profit margin increased from 4.80% in 2019 to 16.45% in 2023, reflecting a significant enhancement in profitability.
The consistent growth in gross profit margin signifies that Oceaneering International has effectively managed its cost of goods sold and enhanced efficiency in production or service delivery. This improvement could result from various factors such as cost control measures, economies of scale, pricing strategies, or operational efficiencies.
Investors and analysts typically view an increasing gross profit margin positively as it indicates a company's ability to generate profits after accounting for the direct costs related to producing goods or services. Oceaneering International's expanding gross profit margin trend over the years suggests a positive trajectory in its operating performance and overall financial health.
Peer comparison
Dec 31, 2023