Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 46.69% is 48% above its 5-year average of 31.65%, near the high end of its 5-year range (19.64%–46.69%).
As of the fiscal period ended Tuesday, March 31, 2026. 61.99% above its 12-month average of 28.82%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
46.69%
GROSS MARGIN AVG TTM
28.82%
GROSS MARGIN AVG 3Y
29.27%
GROSS MARGIN AVG 5Y
31.49%
GROSS MARGIN AVG 10Y
22.56%
GROSS MARGIN AVG 15Y
23.18%
GROSS MARGIN AVG 20Y
26.77%
CURRENT VS TTM AVG
+61.99%
CURRENT VS 3Y AVG
+59.51%
CURRENT VS 5Y AVG
+48.25%
CURRENT VS 10Y AVG
+106.96%
CURRENT VS 15Y AVG
+101.39%
CURRENT VS 20Y AVG
+74.39%
SECTOR MEDIAN · ENERGY
29.48%
median of 42 covered companies
CURRENT VS SECTOR MEDIAN
+58.34%
vs the sector median at left
Market Cap
$99.45B
Gross Margin
21.29%
TTM Avg
35.30%
3Y Avg
33.06%
5Y Avg
27.47%
Market Cap
$92.91B
Gross Margin
3.58%
TTM Avg
4.02%
3Y Avg
6.61%
5Y Avg
4.66%
Market Cap
$92.39B
Gross Margin
8.80%
TTM Avg
7.12%
3Y Avg
9.52%
5Y Avg
7.42%
Market Cap
$87.49B
Gross Margin
42.86%
TTM Avg
50.78%
3Y Avg
53.52%
5Y Avg
52.60%
Market Cap
$82.32B
Gross Margin
14.18%
TTM Avg
13.23%
3Y Avg
12.88%
5Y Avg
14.52%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| ConocoPhillips (COP) | $146.78B | 46.69% | 28.82% | 29.27% | 31.49% |
| Canadian Natural Resources Limited (CNQ)vs › | $99.45B | 21.29% | 35.30% | 33.06% | 27.47% |
| Valero Energy Corporation (VLO)vs › | $92.91B | 3.58% | 4.02% | 6.61% | 4.66% |
| Marathon Petroleum Corporation (MPC)vs › | $92.39B | 8.80% | 7.12% | 9.52% | 7.42% |
| The Williams Companies, Inc. (WMB)vs › | $87.49B | 42.86% | 50.78% | 53.52% | 52.60% |
| Phillips 66 (PSX)vs › | $84.87B | 7.04% | 4.16% | 5.87% | 4.46% |
| Enterprise Products Partners L.P. (EPD)vs › | $82.32B | 14.18% | 13.23% | 12.88% | 14.52% |
| Eni S.p.A. (E)vs › | $80.49B | 5.60% | 11.21% | 14.28% | 13.96% |
| Suncor Energy Inc. (SU)vs › | $79.44B | 55.48% | 58.87% | 59.64% | 59.36% |
| EOG Resources, Inc. (EOG)vs › | $79.20B | 71.29% | 71.91% | 76.49% | 71.49% |
Gross Margin
46.7%
(Revenue - COGS) / Revenue
Gross Margin = Gross Profit / Revenue
Gross margin is the percentage of revenue remaining after the cost of goods sold, reflecting core product profitability.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | GROSS MARGIN |
|---|---|
| 2026-03-31 | 46.69% |
| 2025-12-31 | 19.64% |
| 2025-09-30 | 23.37% |
| 2025-06-30 | 24.39% |
| 2025-03-31 | 30.02% |
| 2024-12-31 | 29.00% |
| 2024-09-30 | 27.48% |
| 2024-06-30 | 30.61% |
| 2024-03-31 | 30.25% |
| 2023-12-31 | 31.86% |
| 2023-09-30 | 31.76% |
| 2023-06-30 | 30.37% |
| 2023-03-31 | 32.86% |
| 2022-12-31 | 31.26% |
| 2022-09-30 | 38.43% |
| 2022-06-30 | 39.20% |
| 2022-03-31 | 41.52% |
| 2021-12-31 | 35.54% |
| 2021-09-30 | 34.71% |
| 2021-06-30 | 33.38% |
| 2021-03-31 | 22.33% |
| 2020-12-31 | -13.36% |
| 2020-09-30 | 0.96% |
| 2020-06-30 | -23.47% |
| 2020-03-31 | 11.54% |
| 2019-12-31 | 25.79% |
| 2019-09-30 | 23.14% |
| 2019-06-30 | 28.26% |
| 2019-03-31 | 27.92% |
| 2018-12-31 | 27.13% |
| 2018-09-30 | 31.29% |
| 2018-06-30 | 30.69% |
| 2018-03-31 | 27.30% |
| 2017-12-31 | 18.73% |
| 2017-09-30 | 12.85% |
| 2017-06-30 | 11.71% |
| 2017-03-31 | 6.50% |
| 2016-12-31 | 1.94% |
| 2016-09-30 | -12.96% |
| 2016-06-30 | -8.00% |
| 2016-03-31 | -13.77% |
| 2015-12-31 | -5.74% |
| 2015-09-30 | -1.54% |
| 2015-06-30 | 11.29% |
| 2015-03-31 | 7.08% |
| 2014-12-31 | 10.89% |
| 2014-09-30 | 26.82% |
| 2014-06-30 | 30.58% |
| 2014-03-31 | 29.20% |
| 2013-12-31 | 29.15% |
| 2013-09-30 | 29.84% |
| 2013-06-30 | 32.40% |
| 2013-03-31 | 34.15% |
| 2012-12-31 | -18.89% |
| 2012-09-30 | 31.80% |
| 2012-06-30 | 33.38% |
| 2012-03-31 | 36.90% |
| 2011-12-31 | 21.46% |
| 2011-09-30 | 40.05% |
| 2011-06-30 | 46.36% |
| 2011-03-31 | 21.36% |
| 2010-12-31 | 16.46% |
| 2010-09-30 | 24.54% |
| 2010-06-30 | 29.23% |
| 2010-03-31 | 24.16% |
| 2009-12-31 | 24.94% |
| 2009-09-30 | 18.18% |
| 2009-06-30 | 16.70% |
| 2009-03-31 | 28.60% |
| 2008-12-31 | 28.48% |
| 2008-09-30 | 25.83% |
| 2008-06-30 | 25.94% |
| 2008-03-31 | 28.37% |
| 2007-12-31 | 31.29% |
| 2007-09-30 | 29.69% |
| 2007-06-30 | 31.91% |
| 2007-03-31 | 28.68% |
| 2006-12-31 | -32.93% |
| 2006-09-30 | 32.67% |
| 2006-06-30 | 33.42% |
| 2006-03-31 | 25.34% |
| 2005-12-31 | 42.57% |
| 2005-09-30 | 26.24% |
| 2005-06-30 | 27.74% |
| 2005-03-31 | 28.84% |
| 2004-12-31 | 42.97% |
| 2004-09-30 | 17.04% |
| 2004-06-30 | 29.86% |
| 2004-03-31 | 28.71% |
| 2003-12-31 | 17.09% |
| 2003-09-30 | 19.04% |
| 2003-06-30 | 28.22% |
| 2003-03-31 | 28.11% |
| 2002-12-31 | 37.38% |
| 2002-09-30 | 15.67% |
| 2002-06-30 | 22.57% |
