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Magellan Midstream Partners LP's gross profit for the three months ended in Jun. 2023 was $524 Mil. Magellan Midstream Partners LP's gross profit for the trailing twelve months (TTM) ended in Jun. 2023 was $1,985 Mil.
Gross Margin % is calculated as gross profit divided by its revenue. Magellan Midstream Partners LP's gross profit for the three months ended in Jun. 2023 was $524 Mil. Magellan Midstream Partners LP's Revenue for the three months ended in Jun. 2023 was $877 Mil. Therefore, Magellan Midstream Partners LP's Gross Margin % for the quarter that ended in Jun. 2023 was 59.76%.
Magellan Midstream Partners LP had a gross margin of 59.76% for the quarter that ended in Jun. 2023 => Durable competitive advantage
During the past 13 years, the highest Gross Margin % of Magellan Midstream Partners LP was 71.94%. The lowest was 55.87%. And the median was 67.39%.
Warning Sign:
Magellan Midstream Partners LP gross margin has been in long-term decline. The average rate of decline per year is -2.9%.
The historical data trend for Magellan Midstream Partners LP'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.
Magellan Midstream Partners LP Annual Data | |||||||||||||||||||||
Trend | Dec13 | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | |||||||||||
Gross Profit | Get a 7-Day Free Trial | 1,857.18 | 1,809.30 | 1,610.70 | 1,725.20 | 1,788.20 |
Magellan Midstream Partners LP Quarterly Data | ||||||||||||||||||||
Sep18 | Dec18 | Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | |
Gross Profit | Get a 7-Day Free Trial | 447.50 | 549.60 | 417.50 | 493.80 | 524.20 |
For the Oil & Gas Midstream subindustry, Magellan Midstream Partners LP'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.
For the Oil & Gas industry and Energy sector, Magellan Midstream Partners LP's Gross Profit distribution charts can be found below:
* The bar in red indicates where Magellan Midstream Partners LP's Gross Profit falls into.
Gross Profit is the different between the sale prices and the cost of buying or producing the goods.
Magellan Midstream Partners LP's Gross Profit for the fiscal year that ended in Dec. 2022 is calculated as
Gross Profit (A: Dec. 2022 ) | = | Revenue | - | Cost of Goods Sold |
= | 3200.4 | - | 1412.2 | |
= | 1,788 |
Magellan Midstream Partners LP's Gross Profit for the quarter that ended in Jun. 2023 is calculated as
Gross Profit (Q: Jun. 2023 ) | = | Revenue | - | Cost of Goods Sold |
= | 877.2 | - | 353 | |
= | 524 |
Gross Profit for the trailing twelve months (TTM) ended in Jun. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,985 Mil.
Gross Profit is the numerator in the calculation of Gross Margin.
Magellan Midstream Partners LP'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 ) |
= | (Revenue - Cost of Goods Sold) | / | Revenue | |
= | 524 | / | 877.2 | |
= | 59.76 % |
* 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.
Magellan Midstream Partners LP (NYSE:MMP) 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
Magellan Midstream Partners LP had a gross margin of 59.76% for the quarter that ended in Jun. 2023 => Durable competitive advantage
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