Antero Resources Corp (AR)

Fixed asset turnover

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	US$ in thousands	4,681,970	7,138,440	4,619,430	3,491,700	4,408,690
Property, plant and equipment	US$ in thousands	9,920,870	9,636,640	9,526,500	9,645,730	9,978,740
Fixed asset turnover		0.47	0.74	0.48	0.36	0.44

December 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $4,681,970K ÷ $9,920,870K
= 0.47

Fixed asset turnover measures how efficiently a company generates sales revenue from its investment in fixed assets. A higher fixed asset turnover ratio indicates better asset utilization. In the case of Antero Resources Corp, the fixed asset turnover ratio has varied over the last five years.

In 2023, the fixed asset turnover ratio decreased to 0.47 from 0.74 in 2022, indicating a decline in the efficiency of generating sales from fixed assets. However, it was still higher than the ratios in 2021 (0.48), 2020 (0.36), and 2019 (0.44). This suggests that in 2023, the company was slightly less efficient in utilizing its fixed assets compared to the previous year but was more effective compared to the earlier years.

Overall, the trend in Antero Resources Corp's fixed asset turnover ratio shows fluctuations, with some years performing better than others. It is important for the company to monitor and improve this ratio to efficiently utilize its fixed assets and maximize sales revenue.