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