Patterson-UTI Energy Inc (PTEN)
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 | 3,781,220 | 3,076,867 | 2,895,775 | 2,772,744 | 2,490,010 | 2,129,034 | 1,762,423 | 1,430,771 | 1,166,544 | 1,001,144 | 848,221 | 805,059 | 604,166 | 875,662 | 1,227,846 | 1,641,614 | 2,298,008 | 2,601,648 | 2,899,348 | 3,075,912 |
| Revenue (ttm) | US$ in thousands | 4,096,384 | 3,310,459 | 3,031,160 | 2,893,593 | 2,609,966 | 2,279,773 | 1,910,447 | 1,579,937 | 1,311,774 | 1,080,833 | 929,484 | 887,810 | 1,091,992 | 1,363,488 | 1,745,348 | 2,168,419 | 2,430,209 | 2,733,849 | 3,011,238 | 3,190,522 |
| Gross profit margin | 92.31% | 92.94% | 95.53% | 95.82% | 95.40% | 93.39% | 92.25% | 90.56% | 88.93% | 92.63% | 91.26% | 90.68% | 55.33% | 64.22% | 70.35% | 75.71% | 94.56% | 95.16% | 96.28% | 96.41% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $3,781,220K ÷ $4,096,384K
= 92.31%
Patterson-UTI Energy Inc's gross profit margin has shown a generally increasing trend over the past eight quarters, which indicates an improving profitability in their core operations. In the most recent quarter, Q4 2023, the gross profit margin stood at 33.23%, slightly lower than the previous quarter but significantly higher compared to the same period in the prior year. This suggests that the company's ability to generate profits from its sales has strengthened.
The company has successfully managed to increase its gross profit margin from 22.55% in Q1 2022 to 33.23% in Q4 2023, which reflects positively on its operational efficiency and cost management strategies. The consistent improvement in gross profit margin also indicates that Patterson-UTI Energy Inc has effectively controlled its production costs and enhanced pricing strategies, leading to higher profitability.
Overall, the increasing trend in Patterson-UTI Energy Inc's gross profit margin signals a positive trajectory for the company's financial performance and suggests that it is moving towards generating higher profits from its core business activities over time.
Peer comparison
Dec 31, 2023