Antero Midstream Corporation (AM) is a publicly traded company in the Energy — Oil & Gas Midstream industry listed on NYSE. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Antero Midstream Corporation primarily owns, operates, and expands vital midstream energy infrastructure. Its operations are divided into two key divisions: Gathering and Processing, and Water Handling. The Gathering and Processing segment involves a comprehensive network of pipelines and compressor stations that are crucial for collecting and treating natural gas output from Antero Resources' wells situated across West Virginia and Ohio.
Is Antero Midstream Corporation stock overvalued or undervalued in 2026?
Antero Midstream Corporation (AM) trades at 24.7× earnings (P/E), above the median of the 140 energy companies over $2bn in Kaplio's universe. At its sector median (17.3×) $15 (-30 %).
Kaplio overview: Antero Midstream Corporation
Market cap $10B · 52 weeks $17 – $24 (10 % below the high) · P/E 24.7× · 2027 expected P/E 15.8× · Dividend 4.3 % · Next earnings February 17, 2027 · expected EPS $0.31 · Intraday price, Oct 28 · accounts published Oct 28.
- Valuation: P/E 24.7× (expensive).
- Business: 5-year ROIC 7.8 % (weak).
- Balance sheet: Net debt/EBITDA 3.2× (fragile).
- Earnings: 2 of 8 (disappointing).
What would it be worth at its usual multiples?
At its sector median (17.3×) $15 (-30 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.
What matters in energy: 5 of 7 pass
- 5y avg ROIC 7.8 %, fails.
- Net debt / EBITDA 3.2×, fails.
- FCF yield 11.3 %, passes.
- Positive FCF through the cycle 9 de 10 ejercicios, passes.
- Dividend coverage (FCF / div) 1.8×, passes.
- Capex / Revenue 12.9 %, passes.
- EV/EBITDA vs own 10y 14.0×, passes.
- P/E read in reverse (cyclicals) 24.7×, info.
Against its peers (reference peers) — Antero Midstream Corporation: P/E 24.7×; EV/EBITDA 14.0×; ROIC 8.6 %; $9.8B. DT Midstream, Inc. (P/E 27.4×; EV/EBITDA 14.9×; ROIC 4.9 %; $12.7B), Hess Midstream LP (P/E 10.6×; EV/EBITDA 8.3×; ROIC 20.8 %; $6.3B), Plains GP Holdings LP (P/E 10.0×; EV/EBITDA 4.9×; ROIC 5.3 %; $5.5B).
Expensive or cheap against its last 8 years?
P/E at each close: today 24.7× · median 19.2× · minimum 13.1× · maximum 298× · cheap below 17.4× · expensive above 22.4×. It has been cheaper than today 85% of the time over its last 8 years.
Dividend
fragile · Yield 4.3 % ($0.92 per share in 2025) · Years raising it 2 · 5-year growth -6 % a year · Free cash flow coverage 1.5× · With $1,000 invested today you'd collect $42.70 a year ($3.56 a month).
Profitability
| Return on Equity | 20.19% |
| Return on Invested Capital | 8.62% |
| Return on Assets | 6.28% |
| Gross Margin | 62.92% |
| Operating Margin | 56.05% |
| Net Margin | 30.45% |
Financial Health
| Debt / Equity | 1.86 |
| Current Ratio | 0.84 |
| Piotroski F-Score | 8 |
| Altman Z-Score | 1.94 |
Price Performance
| 1 month | +2.47% |
| 3 months | -5.55% |
| Year-to-date | +16.64% |
| 1 year | +18.37% |
| 3 years | +70.08% |
| 5 years | +95.02% |
Dividend History
Paid in the last 12 months: $0.9000 per share in 4 payments.
| Date | Amount |
|---|---|
| 2026-10-28 | $0.2250 |
| 2026-07-29 | $0.2250 |
| 2026-04-29 | $0.2250 |
| 2026-01-28 | $0.2250 |
| 2025-10-22 | $0.2250 |
| 2025-07-23 | $0.2250 |
| 2025-04-23 | $0.2250 |
| 2025-01-29 | $0.2250 |
| 2024-10-23 | $0.2250 |
| 2024-07-24 | $0.2250 |
Amounts adjusted for stock splits.
Related companies: PAGP · WMB · MPLX · OKE · WES · DTM · HESM · DKL
Explore sector: Energy · Oil & Gas Midstream
More sections of AM: Financials · Valuation · Statistics · Estimates · Technical · Ownership · News · Events
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