AM Stock Analysis: Antero Midstream | NYSE
Oil & Gas Midstream | NYSE, USA | Market Cap: 10.229m USD | 12M Return: 25.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 43.6M
EPS Trend: 95.0%
Qual. Beats: -1
Rev. Trend: 99.4%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 9.1 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Antero Midstream Corporation (NYSE: AM) is a Denver-based midstream energy company that owns, operates, and develops infrastructure in the Appalachian Basin, primarily serving production from Antero Resources wells in West Virginia and Ohio. The company is organized into two segments: Gathering and Processing, which includes a network of gathering pipelines and compressor stations that collect natural gas and NGLs, and Water Handling, which manages the sourcing, transportation, transfer, and disposal of water and other fluids using pipelines, storage facilities, pumping stations, and blending facilities. Founded in 2002 and public since its 2014 IPO, Antero Midstream operates as a fee-based service provider within the GICS Energy sector, generating revenue largely through long-term contracts with its anchor customer, Antero Resources, which helps insulate the business from direct commodity price exposure. The Water Handling segment reflects a growing industry focus on managing the substantial volumes of flowback and produced water associated with shale production in the basin.
- Antero Resources drilling activity drives gathering throughput volumes
- Water handling revenue grows with produced water management demand
- Natural gas prices weaken producer drilling and midstream volumes
- Capital returns supported by long term contracts and fee based structure
| Net Income: 399.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA -0.20 > 1.0 |
| NWC/Revenue: -2.05% < 20% (prev 0.27%; Δ -2.32% < -1%) |
| CFO/TA 0.15 > 3% & CFO 961.2m > Net Income 399.7m |
| Net Debt (3.48b) to EBITDA (940.6m): 3.70 < 3 |
| Current Ratio: 0.84 > 1.5 & < 3 |
| Outstanding Shares: last quarter (477.1m) vs 12m ago -1.11% < -2% |
| Gross Margin: 66.13% > 18% (prev 64.91%; Δ 1.22% > 0.5%) |
| Asset Turnover: 21.34% > 50% (prev 21.38%; Δ -0.05% > 0%) |
| Interest Coverage Ratio: 3.61 > 6 (EBIT TTM 735.6m / Interest Expense TTM 203.7m) |
| A: -0.00 (Total Current Assets 140.9m - Total Current Liabilities 167.4m) / Total Assets 6.36b |
| B: 0.02 (Retained Earnings 106.7m / Total Assets 6.36b) |
| C: 0.12 (EBIT TTM 735.6m / Avg Total Assets 6.05b) |
| D: 0.44 (Book Value of Equity 1.95b / Total Liabilities 4.42b) |
| Altman-Z'' = 1.31 = BB |
| DSRI: 1.15 (Receivables 135.8m/112.4m, Revenue 1.29b/1.22b) |
| GMI: 0.98 (GM 64.91% / 66.13%) |
| AQI: 1.17 (AQ_t 0.35 / AQ_t-1 0.30) |
| SGI: 1.05 (Revenue 1.29b / 1.22b) |
| TATA: -0.09 (NI 399.7m - CFO 961.2m) / TA 6.36b) |
| Beneish M = -2.79 (Cap -4..+1) = A |
As of August 01, 2026, the stock is trading at USD 21.97 with a total of 1,959,084 shares traded. Over the past week, the price has changed by -2.42%, over one month by -2.42%, over three months by +1.55% and over the past year by +25.27%.
Current recommended Stop Loss: 20.50 (which is 6.7% or 2.7 ATR below the current price).
Antero Midstream has received a consensus analysts rating of 2.63. Therefore, it is recommended to hold AM.
- StrongBuy: 0
- Buy: 0
- Hold: 6
- Sell: 1
- StrongSell: 1
| Analysts Target Price | 24.1 | 9.9% |
P/E Trailing = 25.9639
P/E Forward = 15.2439
P/S = 7.956
P/B = 5.2543
P/EG = 1.17
Revenue TTM = 1.29b USD
EBIT TTM = 735.6m USD
EBITDA TTM = 940.6m USD
Long Term Debt = 3.22b USD (from longTermDebt, last fiscal year)
Short Term Debt = 12.8m USD (from shortTermDebt, last quarter)
Debt = 3.66b USD (from shortLongTermDebtTotal, last quarter) + Leases 46.6m
Net Debt = 3.48b USD (calculated: Debt 3.66b - CCE 180.4m)
Enterprise Value = 13.7b USD (10.2b + Debt 3.66b - CCE 180.4m)
Interest Coverage Ratio = 3.61 (Ebit TTM 735.6m / Interest Expense TTM 203.7m)
EV/FCF = 13.99x (Enterprise Value 13.7b / FCF TTM 979.7m)
FCF Yield = 7.15% (FCF TTM 979.7m / Enterprise Value 13.7b)
FCF Margin = 75.95% (FCF TTM 979.7m / Revenue TTM 1.29b)
Net Margin = 30.99% (Net Income TTM 399.7m / Revenue TTM 1.29b)
Gross Margin = 66.13% ((Revenue TTM 1.29b - Cost of Revenue TTM 436.9m) / Revenue TTM)
Gross Margin QoQ = none% (prev 62.27%)
Tobins Q-Ratio = 2.15 (Enterprise Value 13.7b / Total Assets 6.36b)
Interest Expense / Debt = 5.57% (Interest Expense 203.7m / Debt 3.66b)
Taxrate = 12.31% (67.6m / 549.3m)
NOPAT = 645.0m (EBIT 735.6m * (1 - 12.31%))
Current Ratio = 0.84 (Total Current Assets 140.9m / Total Current Liabilities 167.4m)
Debt / Equity = 1.88 (Debt 3.66b / totalStockholderEquity, last quarter 1.95b)
Debt / EBITDA = 3.70 (Net Debt 3.48b / EBITDA 940.6m)
Debt / FCF = 3.55 (Net Debt 3.48b / FCF TTM 979.7m)
Total Stockholder Equity = 1.98b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.61% (Net Income 399.7m / Total Assets 6.36b)
RoE = 20.19% (Net Income TTM 399.7m / Total Stockholder Equity 1.98b)
RoCE = 14.14% (EBIT 735.6m / Capital Employed (Equity 1.98b + L.T.Debt 3.22b))
RoIC = 10.50% (NOPAT 645.0m / Invested Capital 6.14b)
WACC = 6.61% (E(10.2b)/V(13.9b) * Re(7.22%) + D(3.66b)/V(13.9b) * Rd(5.57%) * (1-Tc(0.12)))
Discount Rate = 7.22% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -86.40 | Cagr: -0.66%
[DCF] Terminal Value 76.63% ; FCFF base≈945.0m ; Y1≈1.03b ; Y5≈1.27b
[DCF] Fair Price = 33.55 (EV 19.4b - Net Debt 3.48b = Equity 15.9b / Shares 474.7m; r=8.35% [WACC [floored]]; 5y FCF grow 9.71% → 2.50% )
EPS Correlation: 95.02 | EPS CAGR: 13.04% | SUE: -1.20 | # QB: -1
Revenue Correlation: 99.38 | Revenue CAGR: 6.50% | SUE: 0.03 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.36 | Chg30d=+6.84% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=1.39 | Chg30d=+6.51% | Revisions=+0% | GrowthEPS=+23.7% | GrowthRev=+9.3%
EPS next Year (2027-12-31): EPS=1.61 | Chg30d=+8.22% | Revisions=+0% | GrowthEPS=+16.4% | GrowthRev=+7.4%