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Antero Midstream Corp.

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Key Metrics

Previous Close: $22.42
52-Week Range: $16.96 – $23.84
Market Cap: $10.57B
P/E (TTM): 27.15
EPS (TTM): 0.82
Dividend Yield: 4.01%

Advanced Metrics

Price/Book: 5.43
PEG Ratio: —
Return on Equity: 19.82%
Return on Assets: 7.61%
Gross Margin: 79.64%
Operating Margin: 52.01%
Profit Margin: 30.45%
Current Ratio: 0.84
Debt/Equity: 1.86
Total Debt: $3.61B
Free Cash Flow: $432.62M
Revenue Growth: 8.30%
Earnings Growth: -8.00%
Enterprise Value: —

AM Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$990.66M	$1.11B	$1.18B	$1.26B
Cost of Revenue	$382.69M	$419.90M	$428.65M	$436.89M
Gross Profit	$607.97M	$692.55M	$748.22M	$822.21M
Selling, General & Admin	$62.13M	$71.07M	$86.09M	$87.93M
Operating Expenses	$67.05M	$80.54M	$88.72M	$89.93M
Operating Income	$540.92M	$612.01M	$659.50M	$732.28M
EBITDA	$836.12M	$924.05M	$966.32M	$959.58M
Pretax Income	$443.74M	$500.07M	$548.62M	$564.20M
Income Tax	$117.49M	$128.29M	$147.73M	$151.03M
Net Income	$326.24M	$371.79M	$400.89M	$413.16M
Diluted EPS	0.68	0.77	0.83	0.86
Diluted Shares	480.30M	482.37M	479.42M	474.06M

AM Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$0.00	$66.00K	$0.00	$180.44M
Receivables	$87.67M	$89.56M	$116.01M	$109.66M
Current Assets	$88.99M	$91.13M	$118.06M	$379.86M
Total Assets	$5.79B	$5.74B	$5.76B	$5.88B
Current Liabilities	$102.08M	$96.42M	$100.61M	$111.48M
Long-Term Debt	$3.36B	$3.21B	$3.12B	$3.22B
Total Debt	$3.36B	$3.21B	$3.12B	$3.22B
Total Liabilities	$3.60B	$3.59B	$3.65B	$3.91B
Retained Earnings	$82.79M	$100.45M	$90.55M	$14.78M
Shareholders' Equity	$2.19B	$2.15B	$2.12B	$1.97B
Working Capital	-$13.08M	-$5.29M	$17.45M	$268.38M
Net Debt	$3.36B	$3.21B	$3.12B	$3.04B

AM Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$699.60M	$779.06M	$843.99M	$932.46M
Capital Expenditure	-$515.65M	-$184.00M	-$242.34M	-$162.25M
Free Cash Flow	$183.95M	$595.06M	$601.65M	$770.21M
Depreciation & Amortisation	$202.43M	$206.73M	$210.67M	$204.98M
Stock-Based Compensation	$19.65M	$31.61M	$44.33M	$45.96M
Investing Cash Flow	-$493.83M	-$183.21M	-$242.73M	-$169.21M
Financing Cash Flow	-$205.78M	-$595.79M	-$601.33M	-$500.32M
Dividends Paid	-$433.38M	-$435.40M	-$438.18M	-$439.56M
Share Repurchases	$0.00	$0.00	-$28.69M	-$134.98M
Net Change in Cash	—	$66.00K	-$66.00K	$262.94M

AM Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$323.14M	$312.49M	$314.67M	$335.42M	$350.05M
Cost of Revenue	$114.15M	$110.02M	$105.48M	$126.54M	$144.71M
Gross Profit	$208.99M	$202.47M	$209.19M	$208.88M	$205.34M
Selling, General & Admin	$22.13M	$10.29M	$56.30M	$22.35M	$22.56M
Operating Expenses	$22.55M	$10.78M	$56.89M	$22.93M	$23.30M
Operating Income	$186.44M	$191.69M	$152.30M	$185.95M	$182.04M
EBITDA	$267.49M	$261.00M	$175.43M	$265.78M	$270.34M
Pretax Income	$168.50M	$161.67M	$77.19M	$155.91M	$154.48M
Income Tax	$43.98M	$45.69M	$25.26M	$37.64M	$40.97M
Net Income	$124.51M	$115.98M	$51.93M	$118.27M	$113.52M
Diluted EPS	0.26	0.24	0.11	0.25	0.24
Diluted Shares	482.45M	481.81M	479.89M	477.96M	477.11M

AM Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	—	—	$180.44M	$0.00	$0.00
Receivables	$112.40M	$111.27M	$109.66M	$152.14M	$138.58M
Current Assets	$114.48M	$113.37M	$379.86M	$154.94M	$140.95M
Total Assets	$5.73B	$5.72B	$5.88B	$6.41B	$6.36B
Current Liabilities	$111.17M	$90.02M	$111.48M	$157.25M	$167.35M
Long-Term Debt	$3.02B	$3.01B	$3.22B	$3.67B	$3.57B
Total Debt	$3.02B	$3.01B	$3.22B	$3.71B	$3.61B
Total Liabilities	$3.64B	$3.65B	$3.91B	$4.47B	$4.42B
Retained Earnings	$111.83M	$88.26M	$14.78M	$104.20M	$106.69M
Shareholders' Equity	$2.09B	$2.07B	$1.97B	$1.94B	$1.95B
Working Capital	$3.31M	$23.35M	$268.38M	-$2.31M	-$26.41M
Net Debt	$3.02B	$3.01B	$3.04B	$3.67B	$3.57B

AM Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$265.18M	$212.84M	$255.50M	$238.62M	$254.25M
Capital Expenditure	-$36.73M	-$46.17M	-$48.82M	-$37.91M	-$52.74M
Free Cash Flow	$228.45M	$166.66M	$206.69M	$200.72M	$201.51M
Depreciation & Amortisation	$51.03M	$52.13M	$51.40M	$55.84M	$60.18M
Stock-Based Compensation	$11.41M	$11.03M	$11.12M	$10.58M	$10.83M
Investing Cash Flow	-$40.06M	-$46.91M	-$49.97M	-$780.77M	-$35.01M
Financing Cash Flow	-$225.12M	-$165.93M	$57.40M	$279.21M	-$219.24M
Dividends Paid	-$111.66M	-$107.82M	-$107.32M	-$111.23M	-$109.78M
Share Repurchases	-$16.77M	-$41.33M	-$48.31M	-$18.01M	-$8.34M
Net Change in Cash	—	—	—	-$262.94M	$0.00

Market Snapshot

About

Antero Midstream Corp. owns and operates midstream energy infrastructure serving Antero Resources Corporation's natural gas and natural gas liquids production in the Appalachian Basin. The company provides gathering, compression, processing, and water handling services through an extensive network of pipelines, compressor stations, and processing facilities in West Virginia and Ohio. Antero Midstream's gathering systems collect natural gas and NGLs from Antero Resources' wellheads and transport them to processing plants and downstream markets. The company also provides fresh water delivery and wastewater treatment services supporting hydraulic fracturing operations. Antero Midstream generates fee-based revenue under long-term contracts with minimum volume commitments, providing cash flow visibility. Founded in 2013 and headquartered in Denver, Colorado, Antero Midstream benefits from dedicated acreage in the prolific Marcellus and Utica shale formations. The company emphasizes capital discipline, free cash flow generation, and shareholder returns through dividends while supporting Antero Resources' development program and production growth.