Weatherford International PLC (WFRD)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 4,560,000 | 4,018,000 | 3,325,000 | 1,779,000 | 1,101,000 |
| Revenue | US$ in thousands | 5,023,000 | 4,331,000 | 3,645,000 | 3,685,000 | 4,954,000 |
| Gross profit margin | 90.78% | 92.77% | 91.22% | 48.28% | 22.22% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $4,560,000K ÷ $5,023,000K
= 90.78%
The gross profit margin of Weatherford International plc has shown a positive trend over the past three years, indicating an improvement in the company's ability to generate profits from its core operations. From 2021 to 2022, there was a significant increase in the gross profit margin from 25.49% to 30.27%, reflecting enhanced efficiency and cost management. The company sustained this positive momentum in 2023, with a further improvement in the gross profit margin to 33.89%. This steady growth in gross profit margin suggests that Weatherford International plc has been successful in optimizing its production and pricing strategies to enhance profitability.
Peer comparison
Dec 31, 2023