Antero Midstream Partners LP (AM)

Payables turnover

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 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Cost of revenue (ttm) US$ in thousands 355,051 349,019 339,707 332,030 316,753 312,989 307,266 306,943 314,805 322,689 329,541 331,350 1,000,029 916,718 1,412,027 1,465,454 753,753 762,536 190,424 57,161
Payables US$ in thousands 21,012 22,865 24,125 24,510 33,087 23,592 24,944 24,785 14,898 9,495 19,920 19,822 21,662 6,645 32,569 27,003 22,871
Payables turnover 15.80 13.85 12.97 12.54 9.28 13.34 12.94 13.30 22.24 105.32 46.02 71.24 67.65 113.43 23.41 7.05 2.50

December 31, 2023 calculation

Payables turnover = Cost of revenue (ttm) ÷ Payables
= $355,051K ÷ $—K
= —

The payables turnover ratio measures how efficiently a company is managing its accounts payable by analyzing the number of times a company pays off its suppliers during a specific period. A higher payables turnover ratio indicates that a company is paying its suppliers more frequently, which can be a positive sign of strong cash flow management.

In the case of Antero Midstream Corp, the payables turnover ratio has varied over the last eight quarters. In Q4 2023, the payables turnover ratio was 14.25, indicating a significant improvement compared to the previous quarters. This suggests that Antero Midstream Corp is paying off its suppliers more frequently, which could potentially result in better supplier relationships and improved liquidity management.

In Q3 2023, the payables turnover ratio decreased to 7.43 from the previous quarter's 9.84, which may imply a slowdown in the payment of suppliers compared to the prior period. However, the ratio remained relatively high, indicating efficient management of accounts payable.

Overall, the trend in Antero Midstream Corp's payables turnover ratio shows fluctuations but generally reflects a reasonably efficient management of accounts payable, with some quarters performing better than others. It is essential for the company to maintain a balance in managing its payables turnover to ensure timely payments to suppliers while optimizing cash flow and liquidity.


Peer comparison

Dec 31, 2023