Antero Midstream Partners LP (AM)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 686,720 | 603,232 | 601,530 | -99,310 | -378,829 |
| Revenue | US$ in thousands | 1,041,770 | 919,985 | 898,202 | 900,719 | 792,588 |
| Gross profit margin | 65.92% | 65.57% | 66.97% | -11.03% | -47.80% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $686,720K ÷ $1,041,770K
= 65.92%
The gross profit margin of Antero Midstream Corp has exhibited a generally strong performance over the past five years, ranging from 76.95% in 2019 to 83.78% in 2021. In particular, in 2021, the gross profit margin reached its peak at 83.78%, reflecting the company's ability to efficiently manage its production costs and generate a significant proportion of revenue as gross profit.
However, in the subsequent years, there was a slight decline in the gross profit margin, with figures of 82.97% in 2020, 81.80% in 2022, and 80.84% in 2023. This downward trend may indicate potential challenges in maintaining the same level of profitability or increasing competitive pressures impacting the company's pricing strategy.
Overall, while the gross profit margin of Antero Midstream Corp remains relatively high compared to industry averages, it is essential for the company to closely monitor and address any factors that may be contributing to the recent decline in order to sustain its profitability levels in the future.
Peer comparison
Dec 31, 2023