The Idiot Index

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Sector
MarkupApplied to integrated oil, gas, and energy producers. COGS captures upstream extraction and downstream refining/distribution. Markup ratios in this sector are highly cyclical with commodity prices; sector medians normalize across cycles, so the composite z-score is more stable…
OrderHighest first

Markup in Energy · FY 2023

12 of 38 companies · highest first
  1. 1
    MTDRMatador Resources
    $1 of cost becomes $30.30 of revenue
    sector median 1.7959Top 4%
    30.30
    × revenue / cost
  2. 2
    RRCRange Resources
    $1 of cost becomes $9.75 of revenue
    sector median 1.7959Top 13%
    9.7483
    × revenue / cost
  3. 3
    OXYOccidental
    $1 of cost becomes $9.36 of revenue
    sector median 1.7959Top 21%
    9.3647
    × revenue / cost
  4. 4
    EQTEQT
    $1 of cost becomes $3.50 of revenue
    sector median 1.7959Median range
    3.5033
    × revenue / cost
  5. 5
    NOGNorthern Oil & Gas
    $1 of cost becomes $2.91 of revenue
    sector median 1.7959Median range
    2.9090
    × revenue / cost
  6. 6
    COPConocoPhillips
    $1 of cost becomes $1.90 of revenue
    sector median 1.7959Median range
    1.9049
    × revenue / cost
  7. 7
    CVXChevron
    $1 of cost becomes $1.69 of revenue
    sector median 1.7959Median range
    1.6868
    × revenue / cost
  8. 8
    RIGTransocean
    $1 of cost becomes $1.51 of revenue
    sector median 1.7959Median range
    1.5062
    × revenue / cost
  9. 9
    OKEONEOK
    $1 of cost becomes $1.35 of revenue
    sector median 1.7959Median range
    1.3494
    × revenue / cost
  10. 10
    TRGPTarga Resources
    $1 of cost becomes $1.17 of revenue
    sector median 1.7959Bottom 21%
    1.1722
    × revenue / cost

Not yet covered (26)

These companies are in the Energy cohort but don't have a Markup computed for FY 2023. Either the underlying inputs aren't tagged in their XBRL filings, the DEF 14A pay-ratio narrative didn't parse cleanly, or this fiscal year hasn't been ingested for them yet.

What this measures

Full methodology →

How much revenue per dollar of cost.

Ratio
Markup
Sector
Energy
Methodology version
v1.0.0
Formula
Revenue / COGS
Sector context

Applied to integrated oil, gas, and energy producers. COGS captures upstream extraction and downstream refining/distribution. Markup ratios in this sector are highly cyclical with commodity prices; sector medians normalize across cycles, so the composite z-score is more stable than any single-year ratio.

Captures gross extraction per dollar of input. A markup ratio of 5.0 means the company collects $5 in revenue for every $1 of cost-of-goods.

Source data: Revenues (us-gaap:Revenues / ifrs-full:Revenue) and CostOfGoodsAndServicesSold (us-gaap) or CostOfSales (ifrs-full).