Antero Midstream Partners LP (AM)

Operating 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
Operating income (ttm)	US$ in thousands	659,166	637,112	636,998	629,768	611,862	600,327	575,784	558,657	539,466	523,840	527,891	550,894	555,327	541,790	551,786	535,113	-117,638	-425,224	-911,130	-928,265
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
Operating profit margin		59.59%	59.05%	59.37%	59.34%	58.73%	58.67%	58.14%	58.13%	58.64%	58.53%	59.40%	61.72%	61.83%	61.18%	61.71%	60.73%	-13.06%	-45.43%	-96.28%	-94.51%

December 31, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $659,166K ÷ $1,106,193K
= 59.59%

The operating profit margin of Antero Midstream Partners LP has shown a significant improvement over the past few periods. Starting from negative margins in the first quarters of 2020 and 2021, the company managed to turn its operating performance around and achieve positive margins from March 2021 onwards.

The trend of improvement continued throughout 2022 and into 2023, with the operating profit margin consistently increasing, reaching a range between 58% to 59.59% by the end of December 2024. This positive trajectory indicates that the company has been able to effectively manage its operating costs and increase its profitability over time.

Overall, the operating profit margin trend reflects a positive financial performance for Antero Midstream Partners LP, showcasing its ability to generate higher profits from its core operations as time progressed.