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