Interestingly, this was buried into the very end: "For the full year, net income surged to $5.71 per share from $3.89 per share in 2004. Annual revenue grew to $371 billion from $298.04 billion."
$36.13B/$371B=9.74% - Nothing out of hand here.....
$36.13B/$371B=9.74% - Nothing out of hand here.....A net profit margin of 9.74% seems pretty high for a commodity product like gasoline and it's 60% higher than the profit margin they made in 1997. But that's irrelevant. What's is relevant is that their costs went up 25% and their profits went up 44%. So what's the relationship between their costs and the price they paid? If they had some gasoline stockpiled that they produced in 1997, or if God magically gave them 20 billion gallons, what price do you think they would have charged for it? The same market price they got for the stuff they produced in 2005.