Antero Midstream Partners LP (AM)
Cash conversion cycle
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | — | — | — | — |
| Days of sales outstanding (DSO) | days | — | 34.78 | 33.68 | 37.21 | 48.63 |
| Number of days of payables | days | — | 26.35 | 29.03 | 3.47 | 2.07 |
| Cash conversion cycle | days | 0.00 | 8.43 | 4.66 | 33.74 | 46.56 |
December 31, 2023 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= — + — – —
= 0.00
The cash conversion cycle of Antero Midstream Corp has shown varying trends over the past five years. In 2023, the company's cash conversion cycle was 3.78 days, indicating a positive trend compared to the preceding year when it was -25.01 days. The negative value in 2022 suggests that the company was able to convert its investments into cash more quickly than in 2023. In 2021, the company's cash conversion cycle improved significantly to -35.09 days, indicating a strong performance in managing its cash flows.
However, in 2020, the cash conversion cycle increased to 5.02 days, showing a relative slowdown in converting investments into cash compared to the previous year. The trend reversed in 2019, with the cash conversion cycle increasing to 27.12 days, indicating a longer period for the company to convert its investments into cash.
Overall, the trend in the cash conversion cycle over the past five years shows fluctuations, with the company experiencing both positive and negative cycles. It is essential for Antero Midstream Corp to continue monitoring and managing its cash conversion cycle effectively to optimize its working capital and operational efficiency.
Peer comparison
Dec 31, 2023