CNOOC (HKSE:00883) COGS-to-Revenue : 0.02 (As of Dec. 2023)

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What is CNOOC COGS-to-Revenue?

CNOOC's Cost of Goods Sold for the three months ended in Dec. 2023 was HK$2,941 Mil. Its Revenue for the three months ended in Dec. 2023 was HK$125,471 Mil.

CNOOC's COGS to Revenue for the three months ended in Dec. 2023 was 0.02.

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin. CNOOC's Gross Margin % for the three months ended in Dec. 2023 was 97.66%.

CNOOC COGS-to-Revenue Historical Data

The historical data trend for CNOOC's COGS-to-Revenue 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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CNOOC COGS-to-Revenue Chart

CNOOC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

COGS-to-Revenue

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0.39

0.42

0.32

0.36

0.37

CNOOC Quarterly Data
	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
COGS-to-Revenue	Get a 7-Day Free Trial															0.51	0.21	0.74	0.02	0.47

CNOOC COGS-to-Revenue Calculation

CNOOC's COGS to Revenue for the fiscal year that ended in Dec. 2023 is calculated as

COGS to Revenue	=	Cost of Goods Sold	/	Revenue
	=	172089.701	/	461060.614
	=	0.37

CNOOC's COGS to Revenue for the quarter that ended in Dec. 2023 is calculated as

COGS to Revenue	=	Cost of Goods Sold	/	Revenue
	=	2941.171	/	125470.657
	=	0.02

CNOOC (HKSE:00883) COGS-to-Revenue Explanation

Cost of Goods Sold is directly linked to profitability of the company through Gross Margin.

CNOOC's Gross Margin % for the three months ended in Dec. 2023 is calculated as:

Gross Margin %	=	1	-	COGS to Revenue
	=	1	-	Cost of Goods Sold / Revenue
	=	1	-	2941.171 / 125470.657
	=	97.66 %

A company that has a moat can usually maintain or even expand their Gross Margin. A company can increase its Gross Margin in two ways. It can increase the prices of the goods it sells and keeps its Cost of Goods Sold unchanged. Or it can keep the sales price unchanged and squeeze its suppliers to reduce the Cost of Goods Sold. Warren Buffett believes businesses with the power to raise prices have moats.

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CNOOC (HKSE:00883) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » CNOOC Ltd (HKSE:00883) » Definitions » COGS-to-Revenue

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NC2B:Germany 600938:China

Address

1 Garden Road, 65th Floor, Bank of China Tower, Hong Kong, HKG, 999077

Website

https://www.cnoocltd.com

CNOOC is China's main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Production for 2022 averaged 1.71 million barrels of oil equivalent per day (78.5% oil), and year-end proven reserves were 6.24 billion barrels of oil equivalent, or boe, (73.8% oil). Assets outside China make up around 30.6% of production.

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