Viper Energy Ut (VNOM)

Gross profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Gross profit (ttm)	US$ in thousands	646,528	581,353	687,317	649,315	630,269	644,454	575,281	652,516	688,324	654,713	573,286	463,940	368,752	283,184	222,098	146,861	129,221	146,369	161,924	206,639
Revenue (ttm)	US$ in thousands	857,231	833,288	918,177	863,299	826,788	825,642	754,001	832,552	865,767	827,982	734,448	609,231	504,297	414,675	349,427	267,952	249,566	265,913	275,067	314,791
Gross profit margin		75.42%	69.77%	74.86%	75.21%	76.23%	78.05%	76.30%	78.38%	79.50%	79.07%	78.06%	76.15%	73.12%	68.29%	63.56%	54.81%	51.78%	55.04%	58.87%	65.64%

December 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $646,528K ÷ $857,231K
= 75.42%

The gross profit margin of Viper Energy Ut has exhibited fluctuations over the reported periods. Starting from March 31, 2020, at 65.64%, the margin decreased to 58.87% by June 30, 2020, further declining to 51.78% by December 31, 2020. However, from March 31, 2021, there was a gradual increase in the gross profit margin reaching a peak of 79.50% on December 31, 2022. Subsequently, the margin experienced some variability until December 31, 2024, where it was reported at 75.42%. This trend suggests a mix of both improvements and declines in the efficiency of the company's production and cost management processes over the analyzed period. It would be crucial for stakeholders to further investigate the drivers behind these changes to assess the company's operational performance accurately.