Antero Midstream Partners LP (AM)

Operating profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating income	US$ in thousands	659,166	611,862	539,466	555,327	-117,638
Revenue	US$ in thousands	1,106,190	1,041,770	919,985	898,202	900,719
Operating profit margin		59.59%	58.73%	58.64%	61.83%	-13.06%

December 31, 2024 calculation

Operating profit margin = Operating income ÷ Revenue
= $659,166K ÷ $1,106,190K
= 59.59%

The operating profit margin of Antero Midstream Partners LP has shown significant fluctuations over the past five years. In December 2020, the operating profit margin was -13.06%, indicating that the company's operating expenses exceeded its operating income during that period.

However, there was a notable turnaround in December 2021, where the operating profit margin surged to 61.83%, reflecting a substantial improvement in the company's operational efficiency and profitability. This upward trend continued into December 2022, 2023, and 2024, with the operating profit margins remaining relatively stable in the range of 58.64% to 59.59%.

Overall, the positive trend in the operating profit margin over the years indicates that Antero Midstream Partners LP has effectively managed its operating expenses in relation to its operating income, resulting in improved profitability and financial performance.