Enphase Energy Inc (ENPH)

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	445,741	612,932	630,384	554,100	448,261	348,996	250,906	216,270	215,832	237,251	251,659	203,113	186,439	151,767	133,714	140,307	102,729	63,290	29,210	11,205
Revenue (ttm)	US$ in thousands	2,290,786	2,712,868	2,796,499	2,615,577	2,330,853	2,018,920	1,735,726	1,521,587	1,382,049	1,234,169	1,061,153	870,634	774,425	719,618	721,172	729,728	624,333	506,590	404,535	346,337
Operating profit margin		19.46%	22.59%	22.54%	21.18%	19.23%	17.29%	14.46%	14.21%	15.62%	19.22%	23.72%	23.33%	24.07%	21.09%	18.54%	19.23%	16.45%	12.49%	7.22%	3.24%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $445,741K ÷ $2,290,786K
= 19.46%

Enphase Energy Inc's operating profit margin has shown a consistent improvement over the past eight quarters, reflecting the company's ability to efficiently generate profits from its core operations. The trend indicates a positive trajectory in the company's operational efficiency and profitability, with the operating profit margin steadily increasing from 14.21% in Q1 2022 to 20.14% in Q4 2023.

The company has demonstrated a strong ability to control costs and manage expenses while increasing revenues, resulting in a higher proportion of sales translating into operating profits. This sustained improvement in operating profit margin signifies effective management of both revenue growth and cost optimization strategies.

The consistent uptrend in operating profit margin suggests that Enphase Energy Inc is successfully enhancing its operational performance and overall profitability, which is a positive indication for investors and stakeholders.