Antero Midstream Partners LP (AM)

Fixed asset turnover

		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
Revenue (ttm)	US$ in thousands	1,106,193	1,078,886	1,072,855	1,061,347	1,041,771	1,023,154	990,349	960,969	919,985	894,922	888,692	892,572	898,202	885,572	894,183	881,132	900,719	935,926	946,306	982,188
Property, plant and equipment	US$ in thousands	3,881,620	3,892,150	3,868,880	3,788,560	3,793,520	3,782,550	3,756,500	3,749,220	3,751,430	3,508,010	3,492,490	3,461,100	3,394,750	3,345,840	3,293,790	3,249,730	3,254,040	3,255,890	3,249,640	3,228,260
Fixed asset turnover		0.28	0.28	0.28	0.28	0.27	0.27	0.26	0.26	0.25	0.26	0.25	0.26	0.26	0.26	0.27	0.27	0.28	0.29	0.29	0.30

December 31, 2024 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $1,106,193K ÷ $3,881,620K
= 0.28

The fixed asset turnover ratio of Antero Midstream Partners LP has shown a declining trend over the past few years. Starting at 0.30 as of March 31, 2020, the ratio has gradually decreased to 0.28 by December 31, 2020, indicating a decreasing efficiency in generating revenue from fixed assets. The trend continued with fluctuations, reaching a low point of 0.25 as of June 30, 2022. However, there was a slight improvement in the ratio towards the end of the period, with the ratio stabilizing around 0.28 from March 31, 2024, to December 31, 2024. Overall, the fixed asset turnover ratio suggests that the company may be facing challenges in effectively utilizing its fixed assets to generate sales during the period under review.