Devon Energy's gross profit for the
three
months ended in Mar. 2024 was $990 Mil. Devon Energy's gross profit for the trailing twelve months (TTM) ended in Mar. 2024 was $4,947 Mil.
Gross Margin % is calculated as gross profit divided by its revenue. Devon Energy's gross profit for the
three
months ended in Mar. 2024 was $990 Mil. Devon Energy's Revenue for the
three
months ended in Mar. 2024 was $3,596 Mil. Therefore, Devon Energy's Gross Margin % for the quarter that ended in Mar. 2024 was 27.53%.
Devon Energy had a gross margin of 27.53% for the quarter that ended in Mar. 2024 => Competition eroding margins
During the past 13 years, the highestGross Margin % of Devon Energy was 45.47%. The lowest was 1.70%. And the median was 21.12%.
Devon Energy Gross Profit Historical Data
The historical data trend for Devon Energy's Gross Profit 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.
Competitive Comparison of Devon Energy's Gross Profit
For the Oil & Gas E&P subindustry, Devon Energy's Gross Profit, along with its competitors' market caps and Gross Profit 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.
Devon Energy's Gross Profit Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Devon Energy's Gross Profit distribution charts can be found below:
* The bar in red indicates where Devon Energy's Gross Profit falls into.
Devon Energy Gross Profit Calculation
Gross Profit is the different between the sale prices and the cost of buying or producing the goods.
Devon Energy's Gross Profit for the fiscal year that ended in Dec. 2023 is calculated as
Gross Profit for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $4,947 Mil.
Gross Profit is the numerator in the calculation of Gross Margin.
* 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.
Devon Energy (NYSE:DVN) Gross Profit 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
Devon Energy had a gross margin of 27.53% for the quarter that ended in Mar. 2024 => Competition eroding margins
Devon Energy Gross Profit Related Terms
Thank you for viewing the detailed overview of Devon Energy's Gross Profit provided by GuruFocus.com. Please click on the following links to see related term pages.
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2022, Devon's proved reserves totaled 1.8 billion barrels of oil equivalent, and net production that year was 611 thousand boe/d, of which oil and natural gas liquids made up 73% of production, with natural gas accounting for the remainder.
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