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TNK (Teekay Tankers) Gross Margin % : 28.48% (As of Sep. 2024)


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What is Teekay Tankers Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. Teekay Tankers's Gross Profit for the three months ended in Sep. 2024 was $69 Mil. Teekay Tankers's Revenue for the three months ended in Sep. 2024 was $243 Mil. Therefore, Teekay Tankers's Gross Margin % for the quarter that ended in Sep. 2024 was 28.48%.


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

TNK' s Gross Margin % Range Over the Past 10 Years
Min: -10.7   Med: 25.26   Max: 43.04
Current: 36.95


During the past 13 years, the highest Gross Margin % of Teekay Tankers was 43.04%. The lowest was -10.70%. And the median was 25.26%.

TNK's Gross Margin % is ranked better than
62.61% of 904 companies
in the Oil & Gas industry
Industry Median: 27.535 vs TNK: 36.95

Teekay Tankers had a gross margin of 28.48% for the quarter that ended in Sep. 2024 => Competition eroding margins

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


Teekay Tankers Gross Margin % Historical Data

The historical data trend for Teekay Tankers'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.

* Premium members only.

Teekay Tankers Gross Margin % Chart

Teekay Tankers Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Gross Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 17.57 28.36 -10.70 27.34 41.98

Teekay Tankers Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Gross Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 32.28 36.20 41.82 39.14 28.48

Competitive Comparison of Teekay Tankers's Gross Margin %

For the Oil & Gas Midstream subindustry, Teekay Tankers'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.


Teekay Tankers's Gross Margin % Distribution in the Oil & Gas Industry

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

* The bar in red indicates where Teekay Tankers's Gross Margin % falls into.



Teekay Tankers Gross Margin % Calculation

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

Teekay Tankers's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )=Gross Profit (A: Dec. 2023 ) / Revenue (A: Dec. 2023 )
=572.7 / 1364.452
=(Revenue - Cost of Goods Sold) / Revenue
=(1364.452 - 791.718) / 1364.452
=41.98 %

Teekay Tankers's Gross Margin for the quarter that ended in Sep. 2024 is calculated as


Gross Margin % (Q: Sep. 2024 )=Gross Profit (Q: Sep. 2024 ) / Revenue (Q: Sep. 2024 )
=69.3 / 243.278
=(Revenue - Cost of Goods Sold) / Revenue
=(243.278 - 173.985) / 243.278
=28.48 %

* 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.

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.


Teekay Tankers  (NYSE:TNK) 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

Teekay Tankers had a gross margin of 28.48% for the quarter that ended in Sep. 2024 => Competition eroding margins


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.


Teekay Tankers Gross Margin % Related Terms

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Teekay Tankers Business Description

Traded in Other Exchanges
Address
69 Pitts Bay Road, 4th Floor, Belvedere Building, Hamilton, BMU, HM 08
Teekay Tankers Ltd is a provider of marine services to the global oil and natural gas industries and an operator of medium-sized oil tankers. The company operates in two segments: tanker and ship-to-ship transfer. The vast majority of its revenue comes from the tanker segment, which consists of crude oil and product tankers for different contracts.

Teekay Tankers Headlines