Antero Resources Corp (AR)

Operating return on assets (Operating ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	453,130	2,573,900	23,860	-953,447	-987,045
Total assets	US$ in thousands	13,619,400	14,118,000	13,896,500	13,150,800	15,197,600
Operating ROA		3.33%	18.23%	0.17%	-7.25%	-6.49%

December 31, 2023 calculation

Operating ROA = Operating income ÷ Total assets
= $453,130K ÷ $13,619,400K
= 3.33%

Antero Resources Corp's operating return on assets (operating ROA) has exhibited fluctuating trends over the past five years. In 2023, the operating ROA decreased to 4.09% from a significantly higher level of 19.99% in 2022. This substantial decline indicates a decrease in the company's operating profitability relative to its asset base. The 2021 figure of 1.39% was a slight improvement compared to the negative operating ROA of -5.91% in 2020. Despite the variability, Antero Resources Corp has generally maintained positive operating ROA figures over the period, which suggests that the company has been able to generate some level of operating profits from its assets. However, the sharp fluctuations in operating ROA indicate potential challenges in consistently generating profit from operations relative to its asset base. Additional analysis of the company's operational efficiency and asset management practices may provide further insights into the factors driving these trends.