Phillips 66 (PSX)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	16,907,000	17,487,000	20,098,000	23,591,000	21,498,000	19,812,000	14,592,000	9,540,000	7,673,000	22,429,000	20,778,000	19,703,000	17,624,000	30,340,000	32,572,000	34,669,000	37,050,000	37,023,000	38,021,000	38,096,000
Revenue (ttm)	US$ in thousands	147,811,000	151,287,000	158,181,000	173,624,000	175,470,000	167,636,000	152,331,000	129,770,000	114,646,000	98,020,000	83,151,000	66,441,000	65,456,000	78,172,000	89,782,000	107,160,000	109,529,000	109,502,000	112,260,000	113,560,000
Gross profit margin		11.44%	11.56%	12.71%	13.59%	12.25%	11.82%	9.58%	7.35%	6.69%	22.88%	24.99%	29.65%	26.92%	38.81%	36.28%	32.35%	33.83%	33.81%	33.87%	33.55%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $16,907,000K ÷ $147,811,000K
= 11.44%

Over the past eight quarters, Phillips 66 has shown consistent improvement in its gross profit margin, with a positive trend from Q1 2022 to Q4 2023. The company's gross profit margin increased steadily from 8.33% in Q1 2022 to 13.10% in Q4 2023. This upward trajectory indicates that Phillips 66 has been effectively managing its production costs and generating higher revenues relative to its cost of goods sold over the period. The company's ability to maintain and expand its gross profit margin reflects efficiency in its operations and pricing strategies, which can contribute to overall profitability and shareholder value.