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 19.52% is 14% above its 5-year average of 17.19%, near the high end of its 5-year range (6.83%–21.85%).
As of the fiscal period ended Tuesday, June 30, 2026. 18.99% above its 12-month average of 16.40%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
19.52%
GROSS MARGIN AVG TTM
16.40%
GROSS MARGIN AVG 3Y
16.24%
GROSS MARGIN AVG 5Y
17.19%
GROSS MARGIN AVG 10Y
13.78%
GROSS MARGIN AVG 15Y
12.68%
GROSS MARGIN AVG 20Y
13.83%
CURRENT VS TTM AVG
+18.99%
CURRENT VS 3Y AVG
+20.21%
CURRENT VS 5Y AVG
+13.55%
CURRENT VS 10Y AVG
+41.58%
CURRENT VS 15Y AVG
+53.96%
CURRENT VS 20Y AVG
+41.13%
SECTOR MEDIAN · ENERGY
26.03%
median of 42 covered companies
CURRENT VS SECTOR MEDIAN
-25.02%
vs the sector median at left
Market Cap
$398.34B
Gross Margin
31.00%
TTM Avg
29.92%
3Y Avg
29.58%
5Y Avg
28.61%
Market Cap
$103.76B
Gross Margin
11.62%
TTM Avg
7.12%
3Y Avg
9.52%
5Y Avg
7.42%
Market Cap
$100.05B
Gross Margin
21.29%
TTM Avg
35.30%
3Y Avg
33.06%
5Y Avg
27.47%
Market Cap
$98.38B
Gross Margin
11.33%
TTM Avg
4.02%
3Y Avg
6.61%
5Y Avg
4.66%
Market Cap
$91.98B
Gross Margin
42.86%
TTM Avg
50.78%
3Y Avg
53.52%
5Y Avg
52.60%
Market Cap
$84.16B
Gross Margin
13.25%
TTM Avg
13.23%
3Y Avg
12.88%
5Y Avg
14.52%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Shell plc (SHEL) | $252.24B | 19.52% | 16.40% | 16.24% | 17.19% |
| ConocoPhillips (COP)vs › | $154.46B | 24.63% | 26.99% | 30.86% | 25.33% |
| Chevron Corporation (CVX)vs › | $398.34B | 31.00% | 29.92% | 29.58% | 28.61% |
| Marathon Petroleum Corporation (MPC)vs › | $103.76B | 11.62% | 7.12% | 9.52% | 7.42% |
| Canadian Natural Resources Limited (CNQ)vs › | $100.05B | 21.29% | 35.30% | 33.06% | 27.47% |
| Valero Energy Corporation (VLO)vs › | $98.38B | 11.33% | 4.02% | 6.61% | 4.66% |
| Phillips 66 (PSX)vs › | $93.66B | 9.78% | 4.16% | 5.87% | 4.46% |
| The Williams Companies, Inc. (WMB)vs › | $91.98B | 42.86% | 50.78% | 53.52% | 52.60% |
| Enterprise Products Partners L.P. (EPD)vs › | $84.16B | 13.25% | 13.23% | 12.88% | 14.52% |
| Eni S.p.A. (E)vs › | $80.09B | 9.89% | 11.21% | 14.28% | 13.96% |
Gross Margin
19.5%
(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 |
|---|---|
| 2026-06-30 | 19.52% |
| 2026-03-31 | 19.28% |
| 2025-12-31 | 11.36% |
| 2025-09-30 | 16.99% |
| 2025-06-30 | 14.87% |
| 2025-03-31 | 18.35% |
| 2024-12-31 | 10.31% |
| 2024-09-30 | 15.68% |
| 2024-06-30 | 15.98% |
| 2024-03-31 | 19.52% |
| 2023-12-31 | 14.22% |
| 2023-09-30 | 19.79% |
| 2023-06-30 | 15.20% |
| 2023-03-31 | 20.41% |
| 2022-12-31 | 21.85% |
| 2022-09-30 | 14.09% |
| 2022-06-30 | 21.42% |
| 2022-03-31 | 20.34% |
| 2021-12-31 | 18.46% |
| 2021-09-30 | 6.83% |
| 2021-06-30 | 16.11% |
| 2021-03-31 | 15.44% |
| 2020-12-31 | 19.95% |
| 2020-09-30 | 8.09% |
| 2020-06-30 | -59.99% |
| 2020-03-31 | 6.23% |
| 2019-12-31 | 8.27% |
| 2019-09-30 | 11.40% |
| 2019-06-30 | 9.30% |
| 2019-03-31 | 13.74% |
| 2018-12-31 | 10.27% |
| 2018-09-30 | 12.61% |
| 2018-06-30 | 11.67% |
| 2018-03-31 | 11.71% |
| 2017-12-31 | 10.50% |
| 2017-09-30 | 10.65% |
| 2017-06-30 | 8.01% |
| 2017-03-31 | 8.40% |
| 2016-12-31 | 9.23% |
| 2016-09-30 | 8.69% |
| 2016-06-30 | 6.64% |
| 2016-03-31 | 4.85% |
| 2015-12-31 | 3.76% |
| 2015-09-30 | -3.61% |
| 2015-06-30 | 12.13% |
| 2015-03-31 | 10.69% |
| 2014-12-31 | 6.80% |
| 2014-09-30 | 10.25% |
| 2014-06-30 | 9.65% |
| 2014-03-31 | 10.23% |
| 2013-12-31 | 9.38% |
| 2013-09-30 | 11.25% |
| 2013-06-30 | 8.22% |
| 2013-03-31 | 13.76% |
| 2012-12-31 | 11.47% |
| 2012-09-30 | 12.92% |
| 2012-06-30 | 10.39% |
| 2012-03-31 | 13.68% |
| 2011-12-31 | 11.66% |
| 2011-09-30 | 11.96% |
| 2011-06-30 | 13.47% |
| 2011-03-31 | 14.45% |
| 2010-12-31 | 20.03% |
| 2010-09-30 | 9.02% |
| 2010-06-30 | 17.61% |
| 2010-03-31 | 19.98% |
| 2009-12-31 | 20.67% |
| 2009-09-30 | 18.60% |
| 2009-06-30 | 21.17% |
| 2009-03-31 | 22.23% |
| 2008-12-31 | -6.35% |
| 2008-09-30 | 19.87% |
| 2008-06-30 | 17.17% |
| 2008-03-31 | 15.61% |
| 2007-12-31 | 13.48% |
| 2007-09-30 | 14.75% |
| 2007-06-30 | 19.06% |
| 2007-03-31 | 17.44% |
| 2006-12-31 | 14.69% |
| 2006-09-30 | 16.46% |
| 2006-06-30 | 18.39% |
| 2006-03-31 | 18.49% |
| 2005-12-31 | 15.37% |
| 2005-09-30 | 20.58% |
| 2005-06-30 | 15.95% |
| 2005-03-31 | 18.84% |
| 2004-12-31 | 14.34% |
| 2004-09-30 | 17.09% |
| 2004-06-30 | 0.00% |
