Kodiak Gas Services, Inc. (KGS)

Operating profit margin

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating income	US$ in thousands	249,450	249,334	222,091	188,955	168,431
Revenue	US$ in thousands	1,159,310	850,381	707,913	606,375	532,420
Operating profit margin		21.52%	29.32%	31.37%	31.16%	31.63%

December 31, 2024 calculation

Operating profit margin = Operating income ÷ Revenue
= $249,450K ÷ $1,159,310K
= 21.52%

The operating profit margin for Kodiak Gas Services, Inc. has exhibited a generally stable trend from December 31, 2020, through December 31, 2023, with a slight decline observed over these years. Specifically, the operating profit margin was 31.63% at the end of 2020, marginally decreasing to 31.16% in 2021, and slightly rising again to 31.37% in 2022. However, by the end of 2023, the operating profit margin had decreased to 29.32%, indicating a reduction in the proportion of operating income relative to revenue. This downward trend became more pronounced by December 31, 2024, with the margin declining significantly to 21.52%. The overall pattern suggests that while the company maintained a relatively robust operating profit margin throughout 2020-2023, there was a notable deterioration in profitability efficiency in 2024, potentially reflecting increased operating costs, changes in pricing strategies, or other operational challenges impacting net operating income relative to revenue.