American States Water Company (AWR)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	196,740	126,636	140,977	130,499	127,073
Revenue	US$ in thousands	595,699	491,528	498,853	488,243	473,869
Operating profit margin		33.03%	25.76%	28.26%	26.73%	26.82%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $196,740K ÷ $595,699K
= 33.03%

The operating profit margin of American States Water Co. has shown fluctuations over the past five years. In 2023, the operating profit margin has increased significantly to 33.01% compared to 23.31% in 2022. This improvement indicates that the company has become more efficient in generating profits from its core operations.

Looking at the trend over the past five years, the operating profit margin was relatively stable around the mid-20% range between 2019 and 2022. The notable increase seen in 2023 suggests that the company may have implemented strategies to enhance operational efficiency and cost management.

Overall, the increasing trend in the operating profit margin for American States Water Co. indicates a positive performance in terms of profitability from its core business activities. It is essential for the company to continue monitoring and optimizing its operational performance to sustain and potentially improve this trend in the future.