Alpha and Omega Semiconductor Ltd (AOSL)

Net profit margin

		Mar 31, 2025	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
Net income (ttm)	US$ in thousands	-22,649	-23,054	-19,363	-11,081	-9,453	-15,668	-6,408	13,844	30,039	79,116	455,777	453,163	457,611	442,061	71,966	58,116	38,472	15,877	1,969	-6,596
Revenue (ttm)	US$ in thousands	680,974	666,399	658,528	657,274	657,503	640,003	663,478	691,321	723,755	794,434	798,993	777,552	760,902	726,875	692,386	656,902	601,988	539,628	498,658	464,909
Net profit margin		-3.33%	-3.46%	-2.94%	-1.69%	-1.44%	-2.45%	-0.97%	2.00%	4.15%	9.96%	57.04%	58.28%	60.14%	60.82%	10.39%	8.85%	6.39%	2.94%	0.39%	-1.42%

March 31, 2025 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $-22,649K ÷ $680,974K
= -3.33%

The net profit margin of Alpha and Omega Semiconductor Ltd exhibited significant fluctuations over the analyzed period. Starting from a negative value of -1.42% as of June 30, 2020, the margin improved to positive territory by September 30, 2020, reaching 0.39%. This upward trend continued through the subsequent quarters, with notable acceleration in profitability observed at the end of 2021, where the net profit margin surged to an exceptional peak of 60.82% as of December 31, 2021. During this period, the company experienced a substantial increase in profitability, likely driven by improved operational efficiency, revenue growth, or other favorable factors.

Following this peak, the margin maintained high levels in early 2022, with 60.14% at the end of March and remaining above 58% through June and September of 2022. However, a sharp decline ensued towards the end of 2022, with the margin dropping to 9.96% by December 31, 2022. Throughout 2023, the net profit margin continued to decline steadily, registering 4.15% in March, 2.00% in June, and turning negative by September (-0.97%) and December (-2.45%) of that year.

In 2024, the negative trend persisted, with the margin worsening to -1.44% in March, and further declines reaching -3.46% by December 2024. The data for the first quarter of 2025 indicates continued negative profitability, with a margin of -3.33%.

Overall, the analysis reveals a pattern of initial variability and subsequent dramatic expansion in profitability around late 2021, followed by a sustained decline from early 2022 onwards, ultimately resulting in negative net profit margins in the later periods. This trend suggests recent challenges or increased expenses affecting the company's profitability.