Range Resources Corp (RRC)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	2,827,900	3,384,280	2,358,800	967,750	-69,526
Revenue	US$ in thousands	3,374,420	4,146,800	2,930,220	1,968,700	2,827,620
Gross profit margin		83.80%	81.61%	80.50%	49.16%	-2.46%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $2,827,900K ÷ $3,374,420K
= 83.80%

Range Resources Corp has consistently reported a gross profit margin of 100% over the past five years. This high and stable gross profit margin indicates that the company is effectively controlling its production costs and generating significant profits from its core business activities. A gross profit margin of 100% means that the company is able to sell its products or services at a price significantly higher than the cost of producing them, resulting in a strong margin of profitability. This consistent performance in maintaining a 100% gross profit margin is a positive indicator of the company's operational efficiency and financial health.