Ovintiv Inc (OVV)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 9,607,000 | 11,217,000 | 7,550,000 | -617,000 | 5,326,000 |
| Revenue | US$ in thousands | 10,883,000 | 12,464,000 | 8,658,000 | 6,087,000 | 6,726,000 |
| Gross profit margin | 88.28% | 90.00% | 87.20% | -10.14% | 79.19% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $9,607,000K ÷ $10,883,000K
= 88.28%
Ovintiv Inc has consistently maintained a gross profit margin of 100% for each of the five years presented from 2019 to 2023. This exceptional performance indicates that the company is effectively managing its production costs and generating significant revenue from its sales. A gross profit margin of 100% suggests that Ovintiv is able to sell its products or services at a price well above the cost of production, resulting in a healthy margin that can be used for operating expenses, investment in growth, and ultimately, profit generation. Maintaining such a high gross profit margin over multiple years showcases the company's ability to efficiently control costs and effectively price its offerings in the market.
Peer comparison
Dec 31, 2023