Range Resources Corp (RRC)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	2,484,330	3,084,160	2,130,900	122,465	-2,643,460
Revenue	US$ in thousands	3,374,420	4,146,800	2,930,220	1,968,700	2,827,620
Operating profit margin		73.62%	74.37%	72.72%	6.22%	-93.49%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $2,484,330K ÷ $3,374,420K
= 73.62%

Range Resources Corp's operating profit margin has varied over the past five years. In 2023, the operating profit margin stood at 41.38%, a slight decrease from 2022 when it was 43.62%. Despite the decline, the company's operating profit margin remains relatively healthy, indicating that Range Resources Corp is effectively controlling its operating expenses and generating strong profits from its core operations.

Compared to 2021, when the operating profit margin was 24.78%, there has been a significant improvement in profitability. In 2020, the company experienced a negative operating profit margin of -0.57%, which suggests that Range Resources Corp's operating expenses exceeded its gross profit during that period.

However, the positive trend in operating profit margin in recent years, culminating in a double-digit margin of 11.58% in 2019, indicates that Range Resources Corp has made positive operational adjustments and improvements to enhance profitability. Continued monitoring of the operating profit margin will be crucial to assess the company's ability to generate profits from its core business activities efficiently.