Antero Midstream Corporation (AM) AI Stock Analysis

Antero Midstream Corporation is an oil and gas midstream infrastructure company operating within the Appalachian Basin. Established in 2013 and based in Denver, Colorado, the company is organized into two primary segments: Gathering and Processing, and Water Handling. Gathering and Processing maintains an extensive network of pipelines and compressor stations in West Virginia and Ohio to gather and process hydrocarbons from Antero Resources' wells. The Water Handling segment sources fresh water from local reservoirs and the Ohio River, while managing flowback and produced water through pumping stations, storage facilities, and blending systems to support upstream operations.

Antero Midstream grew revenue from $968.9M in FY2021 to $1.26B in FY2025, reflecting a 5-year revenue CAGR of 5.3%. Operating margins were 57.3% in FY2021 and 51.2% in FY2025, while gross margin held at 65.3% in both FY2021 and FY2025. Annual net income climbed from $331.6M to $413.2M over the same timeframe, leading to EPS expansion from $0.82 to $1.12. In the trailing twelve months, revenue reached $1.31B with an operating margin of 52.0%. For the latest quarter ended June 30, 2026, quarterly revenue increased 8.3% year-over-year, while quarterly earnings declined 8.0%.

As of June 30, 2026, the company held $0 in cash and short-term investments alongside $3.61B in total debt, resulting in net debt of $3.61B and a debt-to-equity ratio of 1.86. Total assets stood at $6.36B against shareholders' equity of $1.95B, with a current ratio of 0.84. In FY2025, operating cash flow generated $932.5M and free cash flow totaled $770.2M. Capital allocation in FY2025 included $162.3M for capital expenditures, $439.0M paid in dividends, and $135.0M directed toward share buybacks.

Antero Midstream carries a trailing P/E of 24.9x, above the 15.0x median of its US-listed Energy peers. Its forward P/E of 12.9x compares to the peer median of 12.7x, while its EV/EBITDA stands at 14.1x versus the peer median of 8.0x. The company's price-to-sales ratio is 7.5x compared to the peer median of 1.8x. Over the past year, AM stock gained 20.2%, outpacing the S&P 500's 16.8% return. Over five years, the stock returned 155.5% versus 83.0% for the S&P 500.

The company pays a forward annual dividend of $0.90 per share, delivering a dividend yield of 4.36% with an 83.3% payout ratio. Dividends are distributed on a quarterly schedule and have been paid for 10 consecutive years. Over the past five years, the annualized dividend growth rate was -6.1%. The last ex-dividend date is October 28, 2026.

Wall Street coverage consists of 1 Strong Buy, 0 Buys, 6 Holds, and 1 Sell rating. The mean price target is $24.00, representing 16.3% upside compared to the last close of $20.64. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $1.34B and EPS of $1.39, indicating 23.7% earnings growth. Over the last 4 quarters, the company beat EPS estimates 1 time. The next earnings date is October 28, 2026.

This page is an AI-written research summary of Antero Midstream Corporation (AM). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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