Viper Energy Ut (VNOM)

Operating profit margin

		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	Dec 31, 2019
Operating income (ttm)	US$ in thousands	566,058	673,284	636,825	620,219	636,200	566,786	644,133	680,482	647,706	566,604	457,021	361,572	206,637	145,661	70,897	52,914	139,044	154,297	198,773	193,540
Revenue (ttm)	US$ in thousands	836,400	920,052	864,131	827,697	826,610	754,987	833,522	866,467	828,629	735,016	609,844	504,917	415,453	350,391	268,910	250,626	267,014	275,860	315,385	298,283
Operating profit margin		67.68%	73.18%	73.70%	74.93%	76.96%	75.07%	77.28%	78.54%	78.17%	77.09%	74.94%	71.61%	49.74%	41.57%	26.36%	21.11%	52.07%	55.93%	63.03%	64.88%

September 30, 2024 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $566,058K ÷ $836,400K
= 67.68%

The operating profit margin of Viper Energy Ut has displayed fluctuations over the past few quarters. The margin was consistently high above 70% in the first half of 2024, reaching a peak of 78.54% in December 2022. However, the margin showed a decline in the subsequent quarters of 2023, dropping to 71.61% in March 2023 and further to 49.74% in June 2023. This downward trend continued into September 2023, where the margin fell to 76.96%.

The company saw a significant increase in the operating profit margin in the first half of 2021, reaching 63.03% in March 2021 and further climbing to 78.17% in June 2021. However, there was a substantial drop to 26.36% in March 2021, followed by a slight recovery to 41.57% in June 2021.

In the latter part of 2021 and the first quarter of 2022, the operating profit margin experienced a period of volatility, with a low of 21.11% in December 2020 and a high of 74.94% in March 2022. The margin then declined steadily throughout 2022, with a slight recovery in September 2022.

Overall, the operating profit margin of Viper Energy Ut has shown variability, with periods of both significant highs and lows. Investors and analysts may want to further investigate the factors contributing to these fluctuations to assess the company's financial performance and prospects.