Antero Midstream Partners LP (AM)
Return on total capital
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 611,862 | 539,466 | 555,327 | -117,638 | -398,493 |
| Long-term debt | US$ in thousands | 3,213,220 | 3,361,280 | 3,122,910 | 3,091,630 | 2,892,250 |
| Total stockholders’ equity | US$ in thousands | 2,151,730 | 2,192,320 | 2,286,700 | 2,418,290 | 3,143,410 |
| Return on total capital | 11.40% | 9.71% | 10.27% | -2.14% | -6.60% |
December 31, 2023 calculation
Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $611,862K ÷ ($3,213,220K + $2,151,730K)
= 11.40%
Antero Midstream Corp has shown a positive trend in its return on total capital over the past five years, increasing from 7.01% in 2019 to 13.50% in 2023. This indicates the company's ability to generate profits relative to the total capital employed in the business. The consistent improvement in return on total capital suggests effective management of both operational and financial resources, leading to enhanced overall performance and shareholder value. Antero Midstream Corp's performance in utilizing its total capital reflects a solid financial position and efficient operational efficiency over the years.
Peer comparison
Dec 31, 2023