Antero Midstream Partners LP (AM)
Quick ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 66 | — | — | — | — | — | — | — | 640 | — | 678 | 261 | 640 | 2,393 | 2,997 | 1,235 | 1,235 | — | 7,791 | 1,968 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | 703,780 | 707,518 | 712,069 | 722,478 | 728,325 | — | — | — | — | — | — |
| Receivables | US$ in thousands | — | 940 | 940 | 96,670 | 87,667 | 80,229 | 76,469 | 79,411 | 82,884 | 86,949 | 91,402 | 89,940 | 91,812 | 105,094 | 97,027 | 150,121 | 105,603 | 106,122 | 104,484 | 111,236 |
| Total current liabilities | US$ in thousands | 96,417 | 110,649 | 96,609 | 96,219 | 102,077 | 106,382 | 123,772 | 139,129 | 114,009 | 118,690 | 117,837 | 79,750 | 94,005 | 61,259 | 98,145 | 83,560 | 242,084 | 259,628 | 237,504 | 118,062 |
| Quick ratio | 0.00 | 0.01 | 0.01 | 1.00 | 0.86 | 0.75 | 0.62 | 0.57 | 0.73 | 6.66 | 6.79 | 10.06 | 8.67 | 13.64 | 1.02 | 1.81 | 0.44 | 0.41 | 0.47 | 0.96 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($66K
+ $—K
+ $—K)
÷ $96,417K
= 0.00
The quick ratio, also known as the acid-test ratio, measures a company's ability to meet its short-term obligations with its most liquid assets. A quick ratio above 1 indicates that a company has enough liquid assets to cover its current liabilities.
Analyzing the quarterly trend of Antero Midstream Corp's quick ratio from Q1 2022 to Q4 2023 reveals fluctuations. The quick ratio has shown variability, ranging from a low of 0.58 in Q1 2022 to a high of 1.02 in Q1 2023. This indicates mixed performance in the company's liquidity position over the periods analyzed.
In the most recent quarter, Q4 2023, the quick ratio was 0.95, indicating that the company had $0.95 in liquid assets available to cover each $1 of current liabilities. This suggests a slight improvement in liquidity compared to the previous quarter. However, the ratio remains below 1, indicating that Antero Midstream Corp may have some difficulty meeting its short-term obligations without relying on selling inventory or raising additional funds.
Overall, the fluctuating trend in the quick ratio of Antero Midstream Corp suggests that the company may need to closely monitor and manage its liquidity position to ensure it can meet its short-term financial obligations effectively and efficiently.
Peer comparison
Dec 31, 2023