Antero Midstream Partners LP (AM)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 355,051 | 316,753 | 296,672 | 1,000,030 | 1,171,420 |
| Payables | US$ in thousands | — | 22,865 | 23,592 | 9,495 | 6,645 |
| Payables turnover | — | 13.85 | 12.58 | 105.32 | 176.29 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $355,051K ÷ $—K
= —
The payables turnover ratio for Antero Midstream Corp has varied over the past five years. From 2019 to 2020, the ratio decreased significantly from 20.00 to 12.38, indicating a potential lengthening of the time taken to pay its suppliers. However, this trend reversed in 2021 and 2022, as the payables turnover ratio increased to 5.50 and then to 6.37, suggesting a faster payment of suppliers.
In 2023, the payables turnover ratio saw a substantial increase to 14.25, which signifies an improvement in the efficiency of the company in managing its accounts payable. A higher payables turnover ratio generally indicates that the company is paying off its suppliers more quickly, which can be beneficial in terms of maintaining good relationships with vendors and potentially negotiating better terms.
Overall, the fluctuation in Antero Midstream Corp's payables turnover ratio over the years reflects changes in the company's payment policies and practices with its suppliers.
Peer comparison
Dec 31, 2023