Antero Midstream Partners LP (AM)
Total 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 |
| Total assets | US$ in thousands | 5,737,620 | 5,791,320 | 5,544,000 | 5,610,910 | 6,282,880 |
| Total asset turnover | 0.18 | 0.16 | 0.16 | 0.16 | 0.13 |
December 31, 2023 calculation
Total asset turnover = Revenue ÷ Total assets
= $1,041,770K ÷ $5,737,620K
= 0.18
The total asset turnover ratio for Antero Midstream Corp has shown a fluctuating trend over the past five years. In 2023, the ratio improved to 0.19 from 0.17 in 2022, indicating that the company generated $0.19 in revenue for every dollar of assets held. This signifies a more efficient utilization of assets to generate sales compared to the previous year.
Although the ratio remained relatively stable at 0.17 from 2020 to 2022, it is worth noting that there was a slight increase from 2019 when the ratio stood at 0.14. This suggests a gradual improvement in the company's ability to generate sales relative to its asset base over the years.
Overall, the increasing trend in total asset turnover indicates that Antero Midstream Corp has been more effective in using its assets to drive revenue generation and operational efficiency, which could be a positive sign for the company's financial health and performance. Further analysis would be necessary to understand the factors contributing to this improved asset turnover and its implications for the company's overall financial strategy.
Peer comparison
Dec 31, 2023