Antero Midstream Partners LP (AM)

Operating return on assets (Operating ROA)

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	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
Operating income (ttm)	US$ in thousands	659,166	637,112	636,998	629,768	611,862	600,327	575,784	558,657	539,466	523,840	527,891	550,894	555,327	541,790	551,786	535,113	-117,638	-425,224	-911,130	-928,265
Total assets	US$ in thousands	5,761,750	5,777,450	5,774,970	5,749,240	5,737,620	5,758,710	5,752,880	5,770,530	5,791,320	5,563,820	5,585,500	5,580,590	5,544,000	5,533,630	5,540,740	5,546,760	5,610,910	5,673,500	5,715,060	5,781,360
Operating ROA		11.44%	11.03%	11.03%	10.95%	10.66%	10.42%	10.01%	9.68%	9.32%	9.42%	9.45%	9.87%	10.02%	9.79%	9.96%	9.65%	-2.10%	-7.49%	-15.94%	-16.06%

December 31, 2024 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $659,166K ÷ $5,761,750K
= 11.44%

The operating return on assets (operating ROA) of Antero Midstream Partners LP has shown a significant improvement over the reviewed periods. Starting from negative values in early 2020, the operating ROA gradually increased and turned positive by March 2021.

From the first quarter of 2021 to the end of 2024, the operating ROA consistently improved, reaching its highest point of 11.44% by December 2024. This upward trend indicates that the company's operating performance in generating profits from its assets has been strengthening over time.

A higher operating ROA suggests that Antero Midstream Partners LP is effectively utilizing its assets to generate operating profits. This improved profitability can be a positive signal for investors and stakeholders, reflecting the company's operational efficiency and potentially sustainable growth prospects.