EQT Corporation (EQT)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	2,314,410	2,718,000	-1,360,980	-877,666	-1,152,110
Revenue	US$ in thousands	6,908,920	7,497,690	3,064,660	3,058,840	4,416,480
Operating profit margin		33.50%	36.25%	-44.41%	-28.69%	-26.09%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $2,314,410K ÷ $6,908,920K
= 33.50%

The operating profit margin of EQT Corp has displayed varying trends over the past five years. In 2023, the operating profit margin decreased to 36.55% from 42.12% in 2022. This decline indicates a potential reduction in the company's ability to control its operating expenses relative to its revenue generation.

In 2021, the operating profit margin was negative at -32.64%, reflecting that the company's operating expenses exceeded its operating income during that period. This could signify financial challenges and inefficiencies within EQT Corp's operations.

Similarly, the operating profit margin was also negative in 2020 at -13.31%, showcasing continued financial difficulties for the company. However, there was a notable improvement in 2019, with the operating profit margin standing at 15.28%, indicating better cost management and profitability compared to the two preceding years.

Overall, EQT Corp's operating profit margin has been fluctuating significantly, suggesting changes in the company's operational efficiency and financial performance over the five-year period under review. Further analysis of the company's cost structure and revenue generation may provide insights into the factors influencing these fluctuations.