Occidental Petroleum Corporation (OXY)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 23,317,000 | 31,950,000 | 21,771,000 | 13,939,000 | 13,553,000 |
| Revenue | US$ in thousands | 28,257,000 | 36,634,000 | 25,956,000 | 17,809,000 | 20,911,000 |
| Gross profit margin | 82.52% | 87.21% | 83.88% | 78.27% | 64.81% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $23,317,000K ÷ $28,257,000K
= 82.52%
The gross profit margin of Occidental Petroleum Corp. has shown some fluctuation in recent years. The margin stood at 88.97% at the end of 2023, showing a slight decline from 91.07% in 2022. Despite this decrease, the gross profit margin remains relatively high compared to previous years, such as 86.48% in 2020 and 86.31% in 2019. This trend indicates that the company has been able to maintain a strong level of profitability from its core operations. Further analysis of the factors influencing this margin shift may provide insights into the company's operational efficiency and pricing strategies.
Peer comparison
Dec 31, 2023