Permex Petroleum (XCNQ:OIL) Gross Margin % : -73.68% (As of Jun. 2023)

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What is Permex Petroleum Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Permex Petroleum's Gross Profit for the three months ended in Jun. 2023 was C$-0.15 Mil. Permex Petroleum's Revenue for the three months ended in Jun. 2023 was C$0.21 Mil. Therefore, Permex Petroleum's Gross Margin % for the quarter that ended in Jun. 2023 was -73.68%.

The historical rank and industry rank for Permex Petroleum's Gross Margin % or its related term are showing as below:

XCNQ:OIL' s Gross Margin % Range Over the Past 10 Years
Min: -62.68 Med: 10.35 Max: 34.66
Current: -62.68

During the past 6 years, the highest Gross Margin % of Permex Petroleum was 34.66%. The lowest was -62.68%. And the median was 10.35%.

XCNQ:OIL's Gross Margin % is ranked worse than
97.95% of 929 companies
in the Oil & Gas industry
Industry Median: 27.83 vs XCNQ:OIL: -62.68

Permex Petroleum had a gross margin of -73.68% for the quarter that ended in Jun. 2023 => No sustainable competitive advantage

The 5-Year average Growth Rate of Gross Margin for Permex Petroleum was 0.00% per year.

Permex Petroleum Gross Margin % Historical Data

The historical data trend for Permex Petroleum's Gross Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Permex Petroleum Gross Margin % Chart

Permex Petroleum Annual Data

Trend

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Gross Margin %

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26.87

34.66

10.35

-42.59

-6.40

Permex Petroleum Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Gross Margin %	Get a 7-Day Free Trial															24.51	-73.89	-50.00	-53.63	-73.68

Competitive Comparison of Permex Petroleum's Gross Margin %

For the Oil & Gas E&P subindustry, Permex Petroleum's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Permex Petroleum's Gross Margin % Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Permex Petroleum's Gross Margin % distribution charts can be found below:

* The bar in red indicates where Permex Petroleum's Gross Margin % falls into.

Permex Petroleum Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

Permex Petroleum's Gross Margin for the fiscal year that ended in Sep. 2022 is calculated as

Gross Margin % (A: Sep. 2022 )	=	Gross Profit (A: Sep. 2022 )	/	Revenue (A: Sep. 2022 )
	=	-0.1	/	1.171
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(1.171 - 1.246)	/	1.171
	=	-6.40 %

Permex Petroleum's Gross Margin for the quarter that ended in Jun. 2023 is calculated as

Gross Margin % (Q: Jun. 2023 )	=	Gross Profit (Q: Jun. 2023 )	/	Revenue (Q: Jun. 2023 )
	=	-0.2	/	0.209
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(0.209 - 0.363)	/	0.209
	=	-73.68 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Permex Petroleum (XCNQ:OIL) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Permex Petroleum had a gross margin of -73.68% for the quarter that ended in Jun. 2023 => No sustainable competitive advantage

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

Permex Petroleum Gross Margin % Related Terms

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Permex Petroleum (XCNQ:OIL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Permex Petroleum Corp (XCNQ:OIL) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

OILCF:USA 75P:Germany

Address

666 Burrard Street, Suite 500, Vancouver, BC, CAN, V6C 2X8

Website

https://www.permexpetroleum.com

Permex Petroleum Corp is a junior oil and gas company with assets and operations across the Permian Basin of West Texas and the Delaware SubBasin of New Mexico. The company through its wholly-owned subsidiary, Permex Petroleum US Corporation owns and operates on private, state, and federal land. The company has a single reportable segment i.e. acquisition, development, and production of oil and gas properties in the United States.

Executives

Mehran Ehsan

Director, Senior Officer