Stocktoria

Antero Midstream Corp AM

NYSE · stock · Natural Gas Transmission · website · IPO 2017-05-04

Antero Midstream Corp statistics & valuation

P / S9.3×
P / B5.6×
Net debt$3.0B
Net debt / EBITDA3.9×
Enterprise value USD$14.1B
EV / EBITDA18×
Earnings yield EBIT/EV4.6%
Return on capital11.2%
Graham number -60%$8.90

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($8.90); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
95.20% -59.00% -30.70% -50.30% -13.10% 61.80% 58.60% 58.70% 59.60% 54.20% 2016201720182019202020212022202320242025
Return on equity (%)
2016201720182019202020212022202320242025
Shares outstanding
186.2M 186.2M 484.0M 478.3M 479.7M 480.3M 482.4M 485.2M 482.2M 2016201720182019202020212022202320242025
Net debt ($)
$2.89B $3.09B $3.12B $3.36B $3.21B $3.12B $3.04B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
55.90% 16.60% 2016201720182019202020212022202320242025
Free cash flow margin (%)
44.80% 66.10% 2016201720182019202020212022202320242025
Debt / equity (×)
0.92× 1.28× 1.37× 1.53× 1.49× 1.47× 1.63× 2016201720182019202020212022202320242025
EPS ($)
$0.33 -$0.80 -$0.26 $0.69 $0.68 $0.77 $0.83 $0.86 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Antero Midstream Corp trades at about 25.9× earnings — above its 10-year norm (10-year range 14.4×–40.7×, median 19.3×).

14.4× 40.7×

Shaded band = 10-year range (14.4×–40.7×); dot = today's 25.9×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating margin54.2%59.6%58.7%58.6%61.8%-13.1%-50.3%-30.7%-59.0%95.2%
Net margin7.1%57.3%
FCF margin66.1%44.8%
Return on assets16.6%55.9%
Debt / equity1.63×1.47×1.49×1.53×1.37×1.28×0.92×
Current ratio3.411.170.950.870.741.000.450.170.421.38

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.