Antero Midstream Partners LP (AM)

Net profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Net income (ttm)	US$ in thousands	400,892	390,150	388,230	389,205	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
Revenue (ttm)	US$ in thousands	1,106,193	1,078,886	1,072,855	1,061,347	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
Net profit margin		36.24%	36.16%	36.19%	36.67%	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%

December 31, 2024 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $400,892K ÷ $1,106,193K
= 36.24%

The net profit margin of Antero Midstream Partners LP has shown a significant improvement over the analyzed periods, shifting from negative figures in 2020 to positive percentages from March 31, 2021, onwards.

During the initial quarters of 2020, the net profit margin was heavily negative, indicating that the company was incurring substantial losses relative to its revenue. However, starting from March 31, 2021, there was a notable turnaround as the net profit margin became positive and continued to increase steadily, reaching a peak of 40.16% by March 31, 2021.

Subsequently, the net profit margin remained at healthy levels above 35% throughout the following quarters, indicating that the company was able to efficiently convert its revenue into profit. This demonstrates an improvement in cost management, revenue growth, or a combination of both, leading to more efficient operations and increased profitability.