Murphy Oil (MUR) FY2022 results: revenue $3.9 billion, up 71.0% on the year

Murphy Oil Corp. (MUR) reported revenue of $3.9 billion for fiscal 2022, the year ended 31 December 2022, up 71.0% on the year before. Net income was $965 million, and diluted earnings per share $6.13. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2023.

Revenue

$3.9 billion

+71.0% on the year

FY2015FY2022

Operating margin

40.3%

12.2% a year earlier

FY2015FY2022

Net income

$965 million

FY2015FY2022

Diluted EPS

$6.13

FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	3,933	2,299	1,967	+71.0%
Cost of revenue	172	0.0	0.0
Gross profit	3,761	2,299	1,967	+63.6%
Gross margin	95.6%	100.0%	100.0%
Selling, general and administrative	131	122	140	+7.5%
Operating income	1,587	281	-1,362	+463.8%
Operating margin	40.3%	12.2%	-69.2%
Interest expense	151	222	169	-32.0%
Pre-tax income	1,450	42.9	-1,549	+3,281.3%
Income tax	309	-5.9	-294
Effective tax rate	21.3%	-13.7%	n/a
Net income	965	-73.7	-1,149
Net margin	24.5%	-3.2%	-58.4%
Diluted EPS	$6.13	-$0.48	-$7.48

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2022	FY2021	FY2020	On the year
Operating cash flow	2,166	1,422	803	+52.3%
Cash from investing	-1,109	-418	-859
Cash from financing	-1,082	-795	39.7
Depreciation and amortisation	777	795	987	-2.3%
Share-based compensation	74.6	43.7	24.8	+70.8%
Buybacks	0.0	0.0	0.0
Dividends paid	128	77.2	96.0	+66.1%
Dividend per share	$0.82	$0.50	$0.62	+65.0%
Diluted shares, weighted	157m	154m	154m	+2.1%
Shares outstanding at period end	155m	154m	154m	+0.7%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	4,995	4,157	4,214	+20.1%
Non-controlling interest	154	163	180	-5.7%
Debt	1,818	2,461	2,988	-26.1%
Operating lease liabilities	743	761	845	-2.4%
Other liabilities	2,599	2,762	2,394	-5.9%
Total liabilities and equity	10,309	10,305	10,621	+0.0%
Fixed assets	8,228	8,128	8,269	+1.2%
Cash and equivalents	492	521	311	-5.6%
Receivables	391	258	262	+51.5%
Inventory	54.5	54.2	66.1	+0.6%
Other assets	1,143	1,344	1,713	-14.9%
Total assets	10,309	10,305	10,621	+0.0%

10-K for the year ended 31 December 2022, filed 27 February 2023: the filing.