Stock AM ANTERO MIDSTREAM CORPORATION
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Financials Antero Midstream Corporation

Equities

AM

US03676B1026

Oil & Gas Transportation Services

Market Closed - Nyse
Other stock markets
 04:00:02 2024-05-03 pm EDT 		5-day change 1st Jan Change
14.15 USD +1.36% Intraday chart for Antero Midstream Corporation -0.28% +12.93%
May. 02 Antero Midstream Corporation Raises Earnings Guidance for the Twelve Months Ended December 31, 2024 CI
May. 02 Antero Midstream Corporation Announces Redemption of 2026 Senior Notes CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,674 3,675 4,622 5,163 6,011 6,810 - -
Enterprise Value (EV) 1 6,565 6,766 7,745 8,524 9,241 9,986 9,898 9,851
P/E ratio -13.3 x -29.7 x 14 x 15.9 x 16.3 x 16.1 x 14.6 x 12.7 x
Yield 16.1% 16% 9.3% 8.34% 7.18% 6.36% 6.5% 6.61%
Capitalization / Revenue 3.66 x 4.08 x 5.15 x 5.61 x 5.77 x 6.15 x 5.96 x 5.83 x
EV / Revenue 6.54 x 7.51 x 8.62 x 9.27 x 8.87 x 9.02 x 8.67 x 8.44 x
EV / EBITDA 7.91 x 7.96 x 8.84 x 9.64 x 9.34 x 9.45 x 9.11 x 8.94 x
EV / FCF - 12.7 x 16.3 x 46.3 x 15.7 x 14.4 x 14 x 13.9 x
FCF Yield - 7.85% 6.13% 2.16% 6.35% 6.95% 7.13% 7.21%
Price to Book 1.17 x 1.52 x 2.02 x 2.36 x 2.81 x 3.53 x 3.83 x 4.02 x
Nbr of stocks (in thousands) 484,042 476,639 477,504 478,462 479,713 481,241 - -
Reference price 2 7.590 7.710 9.680 10.79 12.53 14.15 14.15 14.15
Announcement Date 2/12/20 2/17/21 2/16/22 2/15/23 2/14/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 1,004 900.7 898.2 920 1,042 1,107 1,142 1,167
EBITDA 1 829.6 850.2 876.4 884.2 989.2 1,057 1,087 1,102
EBIT 1 -296.1 716 767.6 706.3 795 773.8 810 853.6
Operating Margin -29.48% 79.5% 85.46% 76.78% 76.31% 69.91% 70.94% 73.14%
Earnings before Tax (EBT) 1 -364.2 -178.2 448.7 443.7 500.1 537.3 585.2 666
Net income 1 -285.1 -122.5 331.6 326.2 371.8 424.7 467.6 567.5
Net margin -28.39% -13.6% 36.92% 35.46% 35.69% 38.37% 40.96% 48.62%
EPS 2 -0.5700 -0.2600 0.6900 0.6800 0.7700 0.8789 0.9666 1.114
Free Cash Flow 1 - 531.4 474.9 184 587 694.5 705.7 710.2
FCF margin - 59% 52.87% 20% 56.34% 62.75% 61.8% 60.86%
FCF Conversion (EBITDA) - 62.5% 54.18% 20.8% 59.34% 65.72% 64.94% 64.44%
FCF Conversion (Net income) - - 143.19% 56.39% 157.87% 163.52% 150.91% 125.16%
Dividend per Share 2 1.225 1.230 0.9000 0.9000 0.9000 0.9000 0.9200 0.9360
Announcement Date 2/12/20 2/17/21 2/16/22 2/15/23 2/14/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 216.5 218.5 228.9 231 241.6 259.5 258.3 263.8 260.2 279.1 274.9 265.9 273.5 280.3 287.4
EBITDA 1 212.7 209 221 223.1 231 241.8 242.5 250.9 254 265.3 265.7 261.8 266.3 269.2 273.6
EBIT 1 185.8 - - - - - 151.6 162.3 155.7 166.3 188.5 182.1 190.5 192 207.9
Operating Margin 85.81% - - - - - 58.7% 61.52% 59.84% 59.58% 68.57% 68.48% 69.65% 68.51% 72.33%
Earnings before Tax (EBT) 1 107.2 108.1 105.8 114.3 115.5 118.2 116.1 134.5 131.3 140.4 134.6 124.8 132.5 136.5 141.3
Net income 1 78.63 80.04 79.4 84.01 82.79 86.51 87.01 97.82 100.4 103.9 108.7 102.1 107.4 113.1 116.6
Net margin 36.32% 36.63% 34.68% 36.36% 34.28% 33.34% 33.69% 37.08% 38.61% 37.24% 39.55% 38.4% 39.27% 40.34% 40.59%
EPS 2 0.1600 0.1700 0.1700 0.1700 0.1700 0.1800 0.1800 0.2000 0.2100 0.2100 0.2198 0.2165 0.2258 0.2322 0.2381
Dividend per Share 2 0.2250 0.2250 0.2250 0.2250 0.2250 0.2250 0.2250 - 0.2250 - 0.2280 0.2280 0.2280 0.2317 0.2333
Announcement Date 2/16/22 4/27/22 7/27/22 10/26/22 2/15/23 4/26/23 7/26/23 10/25/23 2/14/24 4/24/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,891 3,091 3,123 3,361 3,230 3,177 3,089 3,042
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.485 x 3.636 x 3.563 x 3.801 x 3.265 x 3.006 x 2.842 x 2.76 x
Free Cash Flow 1 - 531 475 184 587 694 706 710
ROE (net income / shareholders' equity) - 15.4% 17.3% 17% 17.1% 21.5% 26.8% 37.2%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 6.490 5.070 4.790 4.580 4.460 4.010 3.690 3.520
Cash Flow per Share - - - - - - - -
Capex 1 392 222 235 516 185 160 150 148
Capex / Sales 39.03% 24.65% 26.15% 56.05% 17.76% 14.46% 13.14% 12.64%
Announcement Date 2/12/20 2/17/21 2/16/22 2/15/23 2/14/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Antero Midstream Corporation

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
8
Last Close Price
14.15 USD
Average target price
14.36 USD
Spread / Average Target
+1.46%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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