Antero Resources Corp (AR)

Short-term

Turnover ratios

Antero Resources Corp's activity ratios provide insights into the efficiency of managing its working capital and operating cycle.

1. Inventory Turnover:
- Antero's inventory turnover fluctuated significantly over the period, ranging from very low values to extremely high values. In general, the company struggled with efficiently managing its inventory levels, as seen by the low turnover ratios recorded in most periods. However, there were a few exceptional periods where the turnover was very high, suggesting better inventory management.

2. Receivables Turnover:
- The receivables turnover ratio improved consistently over the analyzed period. This indicates that Antero was effective in collecting its outstanding receivables faster, which is a positive sign of the company's ability to manage its accounts receivable efficiently.

3. Payables Turnover:
- Antero's payables turnover ratio decreased over time, indicating that the company took longer to pay its suppliers. While this could suggest a favorable position in terms of cash flow, it may also signal potential strain on vendor relationships if payment terms are stretched too far.

4. Working Capital Turnover:
- Limited data is available for working capital turnover, but based on the provided data, Antero had a reasonable turnover rate in the initial period. However, the lack of data for subsequent periods makes it challenging to assess the company's efficiency in utilizing its working capital effectively.

In conclusion, while Antero Resources Corp showed improvements in receivables turnover, the company's efficiency in managing inventory and payables raised some concerns. Further analysis and context would be required to understand the overall effectiveness of the company's working capital management.

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Average number of days

Based on the data provided, the activity ratios of Antero Resources Corp can be analyzed as follows:

1. Days of Inventory on Hand (DOH):
- The DOH measures how many days it takes for a company to turn its inventory into sales.
- Antero Resources Corp's DOH has shown significant volatility, ranging from as low as 1.35 days to as high as 5,433.19 days.
- A decreasing trend in DOH over time is generally positive as it indicates that inventory is being managed more efficiently.

2. Days of Sales Outstanding (DSO):
- The DSO indicates the average number of days it takes for the company to collect its accounts receivable.
- Antero Resources Corp's DSO has ranged from as low as 1.16 days to as high as 10.25 days.
- A lower DSO is favorable as it signifies the company is collecting receivables quickly.

3. Number of Days of Payables:
- This ratio represents how many days it takes the company to pay its suppliers.
- The number of days of payables for Antero Resources Corp has varied significantly, from 5.43 days to 143.10 days.
- A longer payment period can indicate better liquidity management, but it could also strain supplier relationships if too long.

In conclusion, by analyzing the activity ratios of Antero Resources Corp, we can see fluctuations in its inventory turnover, collection of receivables, and payment to suppliers over the periods examined. These ratios provide insights into the company's operational efficiency and its ability to manage working capital effectively.

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Long-term

Based on the provided data, the fixed asset turnover ratio for Antero Resources Corp has exhibited fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio started at 0.47 in March 2020, decreased to 0.32 in September 2020, and then fluctuated between 0.32 and 0.48 until December 2021. Subsequently, there was a notable increase in the ratio to 0.77 in September 2022 before gradually declining to 0.45 by December 31, 2024.

Regarding the total asset turnover ratio, it also showed variability during the same period. Starting at 0.32 in March 2020, the ratio decreased to 0.23 in September 2020, then fluctuated between 0.23 and 0.33 until December 2021. There was a significant increase in the ratio to 0.52 by September 30, 2022, before gradually decreasing to 0.33 by the end of December 2024.

These ratios provide insights into how effectively Antero Resources Corp is utilizing its assets to generate revenue. The fixed asset turnover indicates how efficiently the company is using its fixed assets to generate sales, while the total asset turnover reflects the overall efficiency of the company in generating sales from all its assets. The fluctuations in these ratios highlight changes in the company's operational efficiency and asset management practices over the analyzed period.