Antero Midstream Partners LP (AM)
Interest coverage
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 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 | -398,493 | -217,865 | 105,421 | -23,679 |
| Interest expense (ttm) | US$ in thousands | 5,979 | 5,911 | 5,845 | 5,780 | 5,716 | 5,665 | 5,644 | 5,571 | 5,549 | 5,356 | 5,046 | 4,801 | 4,503 | 4,359 | 4,271 | 4,022 | 3,183 | 2,181 | 1,232 | 399 |
| Interest coverage | 102.34 | 101.56 | 98.51 | 96.65 | 94.38 | 92.47 | 93.53 | 98.89 | 100.08 | 101.16 | 109.35 | 111.46 | -26.12 | -97.55 | -213.33 | -230.80 | -125.19 | -99.89 | 85.57 | -59.35 |
December 31, 2023 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $611,862K ÷ $5,979K
= 102.34
Antero Midstream Corp's interest coverage ratio has been relatively stable over the past eight quarters, ranging from 3.23 to 3.66. This indicates that the company's operating profits are sufficient to cover its interest expenses by a healthy margin. Additionally, the consistently high interest coverage ratio suggests that Antero Midstream Corp has a strong ability to meet its interest obligations from its earnings. Overall, the favorable trend in the interest coverage ratio reflects the company's financial stability and ability to manage its debt effectively.
Peer comparison
Dec 31, 2023
Company name
Symbol
Interest coverage
Antero Midstream Partners LP
AM
102.34
DT Midstream Inc
DTM
4.25
Kinder Morgan Inc
KMI
5.03
Targa Resources Inc
TRGP
47.66
Williams Companies Inc
WMB
4.39