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Gross Margin % is calculated as gross profit divided by its revenue. Equitrans Midstream's Gross Profit for the three months ended in Jun. 2024 was $272 Mil. Equitrans Midstream's Revenue for the three months ended in Jun. 2024 was $362 Mil. Therefore, Equitrans Midstream's Gross Margin % for the quarter that ended in Jun. 2024 was 75.28%.
Warning Sign:
Equitrans Midstream Corp gross margin has been in long-term decline. The average rate of decline per year is -2.8%.
The historical rank and industry rank for Equitrans Midstream's Gross Margin % or its related term are showing as below:
During the past 9 years, the highest Gross Margin % of Equitrans Midstream was 92.12%. The lowest was 74.55%. And the median was 82.79%.
Equitrans Midstream had a gross margin of 75.28% for the quarter that ended in Jun. 2024 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Equitrans Midstream was -2.80% per year.
The historical data trend for Equitrans Midstream'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.
Equitrans Midstream Annual Data | |||||||||||||||||||
Trend | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | ||||||||||
Gross Margin % | Get a 7-Day Free Trial | 82.79 | 78.63 | 74.55 | 75.18 | 75.31 |
Equitrans Midstream Quarterly Data | ||||||||||||||||||||
Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | |
Gross Margin % | Get a 7-Day Free Trial | 72.92 | 74.73 | 75.93 | 75.88 | 75.28 |
For the Oil & Gas Midstream subindustry, Equitrans Midstream'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.
For the Oil & Gas industry and Energy sector, Equitrans Midstream's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Equitrans Midstream's Gross Margin % falls into.
Gross Margin is the percentage of Gross Profit out of sales or Revenue.
Equitrans Midstream'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 ) |
= | 1049.7 | / | 1393.929 | |
= | (Revenue - Cost of Goods Sold) | / | Revenue | |
= | (1393.929 - 344.205) | / | 1393.929 | |
= | 75.31 % |
Equitrans Midstream's Gross Margin for the quarter that ended in Jun. 2024 is calculated as
Gross Margin % (Q: Jun. 2024 ) | = | Gross Profit (Q: Jun. 2024 ) | / | Revenue (Q: Jun. 2024 ) |
= | 272.2 | / | 361.595 | |
= | (Revenue - Cost of Goods Sold) | / | Revenue | |
= | (361.595 - 89.393) | / | 361.595 | |
= | 75.28 % |
* 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.
Equitrans Midstream (NYSE:ETRN) 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
Equitrans Midstream had a gross margin of 75.28% for the quarter that ended in Jun. 2024 => Durable competitive advantage
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.
Thank you for viewing the detailed overview of Equitrans Midstream's Gross Margin % provided by GuruFocus.com. Please click on the following links to see related term pages.
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