Antero Midstream Partners LP (AM)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	1,106,190	1,041,770	919,985	898,202	900,719
Property, plant and equipment	US$ in thousands	3,881,620	3,793,520	3,751,430	3,394,750	3,254,040
Fixed asset turnover		0.28	0.27	0.25	0.26	0.28

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,106,190K ÷ $3,881,620K
= 0.28

The fixed asset turnover ratio of Antero Midstream Partners LP has shown a gradual decline over the years. In 2020, the ratio stood at 0.28, decreasing to 0.26 in 2021 and further to 0.25 in 2022. There was a slight improvement in 2023 with the ratio rising to 0.27, but it returned to 0.28 in 2024, still below the initial level in 2020. This trend indicates that the company's ability to generate revenue from its fixed assets has weakened over the period under consideration. Further analysis of the underlying reasons for this decline would be necessary to understand the dynamics affecting the efficiency of Antero Midstream Partners LP's asset utilization.