American States Water Company (AWR)

Operating profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	196,740	189,475	178,064	153,436	126,636	129,039	131,483	135,013	140,977	140,237	137,260	135,129	130,499	125,946	128,863	132,577	127,073	125,098	116,349	102,487
Revenue (ttm)	US$ in thousands	595,699	595,886	579,174	544,381	491,528	482,785	484,556	490,363	498,853	506,429	503,362	496,226	488,243	477,036	477,844	481,213	473,869	471,881	461,567	443,821
Operating profit margin		33.03%	31.80%	30.74%	28.19%	25.76%	26.73%	27.13%	27.53%	28.26%	27.69%	27.27%	27.23%	26.73%	26.40%	26.97%	27.55%	26.82%	26.51%	25.21%	23.09%

December 31, 2023 calculation

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

American States Water Co.'s operating profit margin has shown a generally positive trend over the past few quarters. The company's operating profit margin has improved steadily from 23.82% in Q1 2022 to 33.01% in Q4 2023. This indicates that the company has been effectively managing its operating expenses relative to its revenue, resulting in healthier profitability. The consistent growth in operating profit margin reflects the company's ability to generate more profit from its core operations over time. This is a positive indicator of the company's efficiency and profitability in delivering value to its shareholders.