ONEOK Inc (OKE)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 8,614,000 | 4,882,000 | 4,477,030 | 4,283,650 | 3,432,100 |
| Revenue | US$ in thousands | 21,925,000 | 16,811,000 | 22,386,900 | 16,540,300 | 8,542,240 |
| Gross profit margin | 39.29% | 29.04% | 20.00% | 25.90% | 40.18% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $8,614,000K ÷ $21,925,000K
= 39.29%
The gross profit margin of ONEOK Inc has shown fluctuations over the years based on the provided data.
As of December 31, 2020, the gross profit margin was 40.18%, indicating that the company was able to maintain a relatively high level of profitability after deducting the cost of goods sold.
However, by December 31, 2021, the gross profit margin decreased to 25.90%, suggesting a decline in profitability compared to the previous year. This could potentially be attributed to factors such as increased costs or pricing pressures.
The trend continued in 2022, with the gross profit margin further decreasing to 20.00%. This significant drop may raise concerns about the company's ability to effectively control its production costs and generate profits from its core operations.
By December 31, 2023, there was a notable improvement in the gross profit margin, which rose to 29.04%. This uptick may indicate that the company implemented strategies to enhance operational efficiency and profitability.
Finally, as of December 31, 2024, the gross profit margin increased to 39.29%, signaling a return to a higher level of profitability. This improvement could imply that ONEOK Inc successfully managed its costs and/or experienced growth in revenue during that period.
Overall, the fluctuations in ONEOK Inc's gross profit margin highlight the importance of closely monitoring profitability metrics to assess the company's financial health and performance over time.
Peer comparison
Dec 31, 2024