Antero Midstream Partners LP (AM)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 1,041,770 | 919,985 | 898,202 | 900,719 | 792,588 |
| Property, plant and equipment | US$ in thousands | 3,793,520 | 3,751,430 | 3,394,750 | 3,254,040 | 3,273,410 |
| Fixed asset turnover | 0.27 | 0.25 | 0.26 | 0.28 | 0.24 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $1,041,770K ÷ $3,793,520K
= 0.27
Antero Midstream Corp's fixed asset turnover has exhibited some fluctuation over the past five years. The ratio, which measures how efficiently the company utilizes its fixed assets to generate revenue, was 0.29 in both 2023 and 2021, indicating a consistent performance in these years. However, there was a slight improvement in 2023 compared to 2022 when the ratio was 0.26.
In 2020, the fixed asset turnover was slightly higher at 0.30, suggesting that the company was more effective in generating revenue from its fixed assets that year. The ratio dropped to 0.26 in 2019, signaling a decrease in efficiency in utilizing fixed assets to generate revenue.
Overall, Antero Midstream Corp's fixed asset turnover has shown mixed results over the past five years, with some years demonstrating better efficiency in utilizing fixed assets to generate revenue than others. It is important for the company to evaluate the factors contributing to these fluctuations and implement strategies to improve the efficiency of its fixed asset utilization in the future.
Peer comparison
Dec 31, 2023