ONEOK Inc (OKE)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 4,882,000 | 4,477,030 | 4,283,650 | 3,432,100 | 3,376,330 |
| Revenue | US$ in thousands | 16,811,000 | 22,386,900 | 16,540,300 | 8,542,240 | 10,164,400 |
| Gross profit margin | 29.04% | 20.00% | 25.90% | 40.18% | 33.22% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $4,882,000K ÷ $16,811,000K
= 29.04%
The gross profit margin of Oneok Inc. has fluctuated over the past five years, ranging from a low of 20.00% in 2022 to a high of 40.18% in 2020. The margin increased significantly from 2022 to 2023, reaching 32.52%. This improvement indicates that the company was able to effectively control its cost of goods sold relative to its revenue in the most recent year. However, it is important to note that the margin is still below the peak observed in 2020. Further analysis of the company's cost structure and pricing strategy may provide insights into the factors driving these fluctuations in gross profit margin over the years.
Peer comparison
Dec 31, 2023