Antero Midstream Partners LP (AM)
Profitability ratios
Return on sales
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Gross profit margin | 65.92% | 65.57% | 66.97% | -11.03% | -47.80% |
| Operating profit margin | 58.73% | 58.64% | 61.83% | -13.06% | -50.28% |
| Pretax margin | 48.00% | 48.23% | 49.96% | -19.79% | -57.73% |
| Net profit margin | 35.69% | 35.46% | 36.92% | -13.60% | -44.80% |
Antero Midstream Corp's profitability ratios indicate a strong performance over the past five years. The company has maintained a consistently high gross profit margin, indicating efficient cost management and strong pricing power. The operating profit margin has also remained robust, reflecting the company's ability to generate profits from its core operations.
Although the pretax margin fluctuated, it generally trended positively, except for a significant decline in 2020. The company's ability to improve this margin over time is a positive sign of operational efficiency and effective management of expenses.
The net profit margin, which indicates the company's overall profitability after all expenses have been deducted, has shown a positive trend, with strong margins in the recent years despite some negative results in 2020 and 2019. This could reflect improvements in cost management and operational efficiency.
Overall, Antero Midstream Corp's profitability ratios suggest a stable and well-managed financial performance, with a focus on efficiently generating profits from its operations.
Return on investment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Operating return on assets (Operating ROA) | 10.66% | 9.32% | 10.02% | -2.10% | -6.34% |
| Return on assets (ROA) | 6.48% | 5.63% | 5.98% | -2.18% | -5.65% |
| Return on total capital | 11.40% | 9.71% | 10.27% | -2.14% | -6.60% |
| Return on equity (ROE) | 17.28% | 14.88% | 14.50% | -5.07% | -11.30% |
Antero Midstream Corp's profitability ratios have shown a generally positive trend over the past five years, indicating improving efficiency and effectiveness in generating profits from its assets and capital.
1. Operating return on assets (Operating ROA) has increased from 5.91% in 2019 to 10.79% in 2023, reflecting the company's ability to generate operating income from its total assets at an improving rate.
2. Return on assets (ROA) has also shown a positive trend, increasing from negative figures in 2020 and 2019 to 6.47% in 2023. This indicates that the company has been more successful in generating profits from its assets in recent years.
3. Return on total capital has increased steadily from 7.01% in 2019 to 13.50% in 2023, demonstrating the company's efficiency in generating returns from both equity and debt capital employed.
4. Return on equity (ROE) has shown the most significant improvement, with the ratio increasing from negative values in 2019 and 2020 to 17.25% in 2023. This suggests that the company has been able to generate higher profits relative to its shareholders' equity in recent years.
Overall, the improving profitability ratios of Antero Midstream Corp indicate a positive performance in terms of generating profits from its assets and capital, which is favorable for investors and stakeholders.