Antero Resources Corp (AR)

Fixed asset turnover

		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
Revenue (ttm)	US$ in thousands	4,681,975	5,573,125	6,511,565	7,759,940	7,138,430	7,447,410	5,916,673	4,202,073	4,619,433	3,534,253	3,380,961	3,378,792	3,491,692	3,135,340	3,873,629	4,688,378	4,408,688	4,501,600	4,459,250	4,148,934
Property, plant and equipment	US$ in thousands	9,920,870	9,934,010	9,872,780	9,782,810	9,636,640	9,649,290	9,590,850	9,532,200	9,526,500	9,532,100	9,542,940	9,567,040	9,645,730	9,833,060	9,937,130	9,994,740	9,978,740	9,914,750	10,915,400	10,971,400
Fixed asset turnover		0.47	0.56	0.66	0.79	0.74	0.77	0.62	0.44	0.48	0.37	0.35	0.35	0.36	0.32	0.39	0.47	0.44	0.45	0.41	0.38

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $4,681,975K ÷ $9,920,870K
= 0.47

The fixed asset turnover ratio measures how efficiently a company is utilizing its fixed assets to generate revenue. A higher ratio indicates better efficiency in generating revenue from fixed assets.

Analyzing the fixed asset turnover ratio for Antero Resources Corp over the past eight quarters reveals fluctuations in efficiency. The ratio has shown a decreasing trend from Q1 2022 (0.44) to Q4 2022 (0.74), then started to increase up to Q1 2023 (0.79). However, in the most recent quarters, Q2 2023 (0.66) and Q3 2023 (0.56), the ratio experienced a slight decline, reaching 0.47 in Q4 2023.

The declining trend in the fixed asset turnover ratio from Q1 2023 to Q4 2023 may indicate a decrease in the company's ability to generate revenue from its fixed assets efficiently during this period. Therefore, further investigation into the company's operational efficiency and asset utilization may be warranted to understand the factors contributing to this decline. Ultimately, monitoring the fixed asset turnover ratio will be crucial for assessing Antero Resources Corp's effectiveness in using its fixed assets to drive revenue in the future.