Antero Resources Corp (AR)
Activity ratios
Short-term
Turnover ratios
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Inventory turnover | — | 0.09 | 0.07 | 0.36 | 0.59 |
| Receivables turnover | 109.86 | 201.15 | 58.48 | 122.70 | 25.72 |
| Payables turnover | — | 4.22 | 9.64 | 36.38 | 135.55 |
| Working capital turnover | — | — | — | — | — |
Inventory turnover ratio is not provided in the table, which indicates that we do not have information on how efficiently Antero Resources Corp is managing its inventory levels.
Receivables turnover ratio measures how many times a company collects its average accounts receivable balance during a period. Antero Resources Corp's receivables turnover has shown significant fluctuations over the years, indicating varying levels of efficiency in collecting outstanding payments from customers. The high turnover in 2022 and 2020 suggests that the company was relatively efficient in collecting receivables during those years compared to other periods.
Payables turnover ratio is not provided in the table, which means we lack data on how quickly Antero Resources Corp pays its suppliers.
Working capital turnover ratio is also not available in the table, indicating that we do not have information on how effectively the company is utilizing its working capital to generate sales.
In summary, the analysis of Antero Resources Corp's activity ratios based on the provided data highlights variances in receivables turnover over the years, while the lack of information on inventory turnover, payables turnover, and working capital turnover limits a comprehensive assessment of the company's operational efficiency.
Average number of days
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | — | 3,845.98 | 5,217.26 | 1,021.06 | 615.09 |
| Days of sales outstanding (DSO) | days | 3.32 | 1.81 | 6.24 | 2.97 | 14.19 |
| Number of days of payables | days | — | 86.48 | 37.85 | 10.03 | 2.69 |
Days of inventory on hand (DOH):
- Unfortunately, specific data regarding Antero Resources Corp's days of inventory on hand is not provided in the table. The lack of this information limits the ability to evaluate the company's efficiency in managing its inventory levels over the five-year period.
Days of sales outstanding (DSO):
- Antero Resources Corp's days of sales outstanding (DSO) have shown variability over the five-year period. In 2023, the company had a DSO of 3.32 days, which increased from the previous year's DSO of 1.81 days. The DSO in 2021 was notably higher at 6.24 days compared to the lower 2.97 days in 2020. The highest DSO was observed in 2019 at 14.21 days, indicating a longer collection period for receivables.
Number of days of payables:
- Similar to days of inventory on hand, specific data related to Antero Resources Corp's number of days of payables is not available in the table. The absence of this information restricts the ability to assess the company's payment terms and relationship with suppliers over the five-year period.
Overall, while the days of sales outstanding (DSO) data reveals some fluctuations in Antero Resources Corp's accounts receivable collection efficiency, the lack of details on days of inventory on hand and number of days of payables limits a comprehensive analysis of the company's working capital management and operational efficiency.
Long-term
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Fixed asset turnover | 0.47 | 0.74 | 0.48 | 0.36 | 0.44 |
| Total asset turnover | 0.34 | 0.51 | 0.33 | 0.27 | 0.29 |
Antero Resources Corp's long-term activity ratios, specifically the fixed asset turnover and total asset turnover, indicate the company's efficiency in utilizing its assets to generate revenue over the past five years.
The fixed asset turnover ratio, which measures how effectively the company generates sales revenue from its investment in fixed assets, has fluctuated over the period. In 2023, the ratio decreased to 0.47 from 0.74 in 2022, suggesting a decline in the company's ability to generate sales from its fixed assets. This could be attributed to factors such as underutilization of assets or a decrease in sales relative to the investment in fixed assets.
On the other hand, the total asset turnover ratio, which reflects the company's ability to generate sales from all its assets, including both fixed and current assets, also showed varying trends. The ratio decreased to 0.34 in 2023 from 0.51 in 2022, indicating a decline in the company's overall efficiency in utilizing its assets to generate sales. This suggests that Antero Resources Corp may be facing challenges in optimizing its asset base to drive revenue growth.
Overall, the decreasing trend in both the fixed asset turnover and total asset turnover ratios for Antero Resources Corp over the past five years raises concerns about the company's operational efficiency and effectiveness in leveraging its assets to drive revenue. Management may need to focus on improving asset utilization and operational performance to enhance these activity ratios and ultimately drive sustainable growth and profitability.