Antero Midstream Corp (AM)
Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The gathering and processing segment includes a network of gathering pipelines and compressor stations that collect and process natural gas and NGLs from Antero Resources' wells in West Virginia and Ohio. The Water Handling segment delivers water from sources, including the Ohio River, local reservoirs, and various regional waterways; other fluid handling services, which include transfer and disposal; uses water handling systems to transport flowback and produced water; and buried pipelines, surface pipelines, and water storage facilities, as well as pumping stations and blending facilities. Antero Midstream Corporation was founded in 2002 and is headquartered in Denver, Colorado.
- Symbol
- AM
- Exchange
- NYSE
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Market cap
- $10.15B
- 52 week range
- 16.96 - 23.83
Valuation
- Share price
- $21.38 (close of 2026-09-23)
- P/E (TTM)
- 25.45x
- Price to book
- 5.22x
- Price to free cash flow
- 10.56x
- Enterprise value
- $13.76B
- Book value per share
- $4.10
Price performance
| Period | Change |
|---|
| 1 day | +1.62% |
| 5 days | +0.23% |
| 1 month | -3.43% |
| 3 months | -3.74% |
| 6 months | -6.88% |
| Year to date | +20.18% |
| 1 year | +11.70% |
| 3 years | +79.66% |
| 5 years | +108.59% |
| All time | -2.82% |
Profitability and growth
- Return on equity
- 20.95%
- Return on invested capital
- 9.84%
- Return on assets
- 7.02%
- Return on capital employed
- 11.17%
- Gross margin
- 80.49%
- Net margin
- 34.77%
- EBITDA margin
- 65.55%
- Revenue growth
- 7.43%
- Net income growth
- 3.06%
- Free cash flow growth
- 20.47%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 9.47%
- Current ratio
- 0.84x
- Net debt to EBITDA
- 3.71x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $1.19B
- Cost of revenue
- $231.91M
- Gross profit
- $956.52M
- EBITDA
- $778.98M
- Net income
- $413.16M
- Earnings per share
- $0.86
- Shares outstanding
- 477.91M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $1.19B | $956.52M | $413.16M | $0.86 |
| 2024-12-31 | $1.11B | $888.22M | $400.89M | $0.83 |
| 2023-12-31 | $1.04B | $828.61M | $371.79M | $0.77 |
| 2022-12-31 | $919.99M | $739.73M | $326.24M | $0.68 |
| 2021-12-31 | $898.20M | $741.08M | $331.62M | $0.69 |
| 2020-12-31 | $900.72M | $735.33M | $-122.53M | $-0.26 |
| 2019-12-31 | $792.59M | $596.77M | $-355.11M | $-0.80 |
| 2018-12-31 | $142.91M | - | $66.61M | $0.33 |
| 2017-12-31 | $69.72M | - | $4.94M | $0.03 |
| 2016-12-31 | $16.94M | - | $9.71M | $0.00 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 80.49% | 34.77% | 20.95% | 9.84% |
| 2024-12-31 | 80.29% | 36.24% | 18.95% | 9.77% |
| 2023-12-31 | 79.54% | 35.69% | 17.28% | 9.01% |
| 2022-12-31 | 80.41% | 35.46% | 14.88% | 7.60% |
| 2021-12-31 | 82.51% | 36.92% | 14.50% | 8.10% |
| 2020-12-31 | 81.64% | -13.60% | -5.07% | -1.12% |
| 2019-12-31 | 75.29% | -44.80% | -11.30% | -4.91% |
| 2018-12-31 | - | 46.61% | 215.83% | -156.39% |
| 2017-12-31 | - | 7.08% | 0.00% | - |
| 2016-12-31 | - | 57.31% | 0.00% | - |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-12-31 | $180.44M | $3.22B |
| 2024-12-31 | - | $3.12B |
| 2023-12-31 | $66.00K | $3.21B |
| 2022-12-31 | - | $3.36B |
| 2021-12-31 | - | $3.12B |
| 2020-12-31 | $640.00K | $3.09B |
| 2019-12-31 | $1.24M | $2.89B |
| 2018-12-31 | $2.82M | - |
| 2017-12-31 | $5.99M | - |
| 2016-12-31 | $9.61M | - |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $932.46M | $45.96M |
| 2024-12-31 | $774.00M | $44.33M |
| 2023-12-31 | $778.80M | $31.61M |
| 2022-12-31 | $482.88M | $19.65M |
| 2021-12-31 | $709.75M | $13.53M |
| 2020-12-31 | $595.45M | $12.78M |
| 2019-12-31 | $355.00M | $73.52M |
| 2018-12-31 | $83.53M | $35.11M |
| 2017-12-31 | $28.08M | $34.93M |
| 2016-12-31 | $9.54M | - |
Dividend history
- Most recent payment
- 2026-07-29
- Paid in the last twelve months
- $0.90
| Payment date | Dividend per share |
|---|
| 2026-07-29 | $0.23 |
| 2026-04-29 | $0.23 |
| 2026-01-28 | $0.23 |
| 2025-10-22 | $0.23 |
| 2025-07-23 | $0.23 |
| 2025-04-23 | $0.23 |
| 2025-01-29 | $0.23 |
| 2024-10-23 | $0.23 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-04
- Consensus EPS estimate
- $0.30
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-07-29 | Jun/2026 | $0.27 |
| 2026-04-29 | - | - |
| 2026-02-11 | - | - |
| 2025-10-29 | - | - |
| 2025-07-30 | - | - |
| 2025-07-29 | - | - |
| 2025-04-30 | - | - |
| 2025-04-22 | - | - |
Filings and sources
- Company website
- anteromidstream.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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