More RECENT profit margins. Oil is worse than I thought at 8.3%.
In 2021, U.S. energy firms were the 10th most profitable sector of the U.S. economy out of 11, according to S&P Global IQ. Energy firms listed in the S&P 500 stock index posted an 8.3% profit margin in 2021. That was below the median for all 11 sectors, which was 10.6%. Financials led with a 25.3% profit margin. Tech was second at 23.2%. Pharmaceutical firms posted a 23.1% margin. The only segment worse than energy was consumer staples, with a 6.6% margin.
My sister and brother believe this stuff fully. The oil companies are greedy.