Antero Midstream Partners LP (AM)

Net profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	371,786	354,132	340,326	332,709	326,242	322,075	327,388	328,216	331,617	329,449	345,629	353,847	-122,527	-343,544	-738,528	-757,695	-355,114	-192,886	114,021	58,628
Revenue (ttm)	US$ in thousands	1,041,771	1,023,154	990,349	960,969	919,985	894,922	888,692	892,572	898,202	885,572	894,183	881,132	900,719	935,926	946,306	982,188	792,588	597,013	391,034	168,561
Net profit margin		35.69%	34.61%	34.36%	34.62%	35.46%	35.99%	36.84%	36.77%	36.92%	37.20%	38.65%	40.16%	-13.60%	-36.71%	-78.04%	-77.14%	-44.80%	-32.31%	29.16%	34.78%

December 31, 2023 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $371,786K ÷ $1,041,771K
= 35.69%

The net profit margin for Antero Midstream Corp has been relatively stable over the past eight quarters, ranging from 32.02% to 34.07%. The company has consistently maintained a strong profitability ratio, with the highest margin recorded in Q2 2022 at 34.07%. Despite a slight decrease in Q4 2023 to 33.37%, the company continues to demonstrate its ability to generate earnings relative to its revenue. This trend indicates that Antero Midstream Corp has been effectively managing its costs and expenses to maximize its bottom line profitability.

Peer comparison

Dec 31, 2023

Company name

Symbol

Net profit margin

Antero Midstream Partners LP

35.69%

Williams Companies Inc

WMB

29.15%