Analysis of Revenues
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Current Ratio since 2005
- Debt to Equity since 2005
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Revenues as Reported
Pioneer Natural Resources Co., income statement, revenues
US$ in millions
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
The revenue data demonstrates several clear trends and fluctuations in various categories over the five-year span.
- Oil sales
- Oil sales experienced a significant decline from 2019 to 2020, dropping from 4,168 million US dollars to 2,871 million US dollars. However, this was followed by a sharp recovery and substantial growth in 2021 and 2022, reaching a peak of 12,289 million US dollars. In 2023, oil sales saw a reduction to 10,462 million US dollars, although remaining well above the 2019 level.
- NGL (Natural Gas Liquids) sales
- NGL sales followed a somewhat similar pattern to oil sales, starting at 510 million US dollars in 2019 and slightly declining in 2020. From 2021 onwards, sales rose markedly, peaking at 2,204 million US dollars in 2022 before declining to 1,617 million US dollars in 2023.
- Gas sales
- Gas sales showed steady growth from 238 million US dollars in 2019 to 269 million in 2020, then increased significantly to 988 million in 2021 and further to 1,817 million in 2022. However, in 2023 the gas sales decreased substantially to 910 million US dollars, indicating a notable reversal in the previous upward trend.
- Oil and gas revenues
- This aggregate measure reflects the combined trends of the individual components, starting at 4,916 million US dollars in 2019 and declining to 3,630 million in 2020. It then surged to 11,503 million in 2021 and continued to 16,310 million in 2022, before decreasing again to 12,989 million in 2023. The pattern indicates volatility but an overall upward trajectory compared to the initial years.
- Sales of purchased commodities
- Sales of purchased oil, gas, diesel, sand, and other commodities collectively display variable levels. Purchased oil sales decreased from 4,726 million in 2019 to 3,359 million in 2020, rebounded in 2021 and 2022 to 6,247 and 7,992 million respectively, and then declined again to 6,367 million in 2023. Purchased gas sales remain relatively low throughout the period with a peak in 2022 at 80 million. Diesel sales appeared only in 2020 and 2021 with small values before disappearing. Sand sales were minimal and appeared only in 2022. Overall, total sales of purchased commodities increased between 2019 and 2022, followed by a decline in 2023.
- Revenue from contracts with purchasers
- Revenue from contracts with purchasers exhibits a strong growth trajectory from 9,671 million US dollars in 2019 to 24,384 million in 2022, representing a significant expansion. In 2023, this revenue declined to 19,374 million US dollars but remained substantially higher than in the earlier years. This indicates overall growth despite some recent softening.
In summary, the revenue data reveals robust growth in oil, NGL, and gas sales from 2020 through 2022, with some decreases observed in 2023. Purchased commodities and contract revenues mirror this trend, demonstrating strong gains followed by a moderate retrenchment in the most recent period. The fluctuations suggest sensitivity to market conditions while indicating overall upward momentum in the core revenue streams over the analyzed period.