Antero Midstream Partners LP (AM)
Debt-to-capital 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 3,213,220 | 3,258,540 | 3,306,670 | 3,331,320 | 3,361,280 | 3,143,170 | 3,157,970 | 3,133,180 | 3,122,910 | 3,095,560 | 3,087,730 | 3,103,430 | 3,091,630 | 3,121,820 | 3,088,780 | 3,103,760 | 2,892,250 | 2,657,750 | 2,526,330 | 2,389,990 |
| Total stockholders’ equity | US$ in thousands | 2,151,730 | 2,151,140 | 2,153,040 | 2,175,480 | 2,192,320 | 2,211,860 | 2,230,120 | 2,259,950 | 2,286,700 | 2,312,590 | 2,328,440 | 2,356,870 | 2,418,290 | 2,485,490 | 2,523,180 | 2,588,960 | 3,143,410 | 3,523,030 | 3,972,360 | 4,035,550 |
| Debt-to-capital ratio | 0.60 | 0.60 | 0.61 | 0.60 | 0.61 | 0.59 | 0.59 | 0.58 | 0.58 | 0.57 | 0.57 | 0.57 | 0.56 | 0.56 | 0.55 | 0.55 | 0.48 | 0.43 | 0.39 | 0.37 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $3,213,220K ÷ ($3,213,220K + $2,151,730K)
= 0.60
The debt-to-capital ratio of Antero Midstream Corp has remained relatively stable over the past eight quarters, fluctuating within a narrow range between 0.58 and 0.61. This ratio indicates that, on average, around 60% of the company's capital structure is comprised of debt. While the consistency of the ratio suggests a prudent approach to managing debt levels, it is important to note that a higher debt-to-capital ratio may indicate increased financial risk due to higher levels of leverage. However, without further context or comparison to industry peers, it is challenging to draw definitive conclusions about the company's debt levels and financial health. It would be beneficial to analyze this ratio in conjunction with other financial metrics to gain a more comprehensive understanding of Antero Midstream Corp's overall financial position.
Peer comparison
Dec 31, 2023