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Antero Midstream Corp. (AM)

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Antero Midstream Corp. (AM) reported revenue of $327 million for Q2 FY2026, the quarter ended 30 June 2026, up 7.1% on the same quarter a year earlier. Net income was $113 million, down 8.8% on the year, and diluted earnings per share $0.24. The figures are the company's own, from the 10-Q it filed with the SEC on 29 July 2026.

Revenue$327 millionup 7.1%
Net income$113 milliondown 8.8%
Diluted EPS$0.24
QuarterQ2 FY2026ended 30 June 2026

Antero Midstream (AM) in brief

Antero Midstream (AM) reported revenue of $1.2 billion for fiscal 2025, the year ended 31 December 2025, up 7.4% on the year before.
Read moreNet income was $413 million and diluted earnings per share $0.86. Revenue was $1.1 billion in fiscal 2024, $1.0 billion in fiscal 2023, $920 million in fiscal 2022 and $898 million in fiscal 2021. Net income in the same years was $400 million, $371 million, $326 million and $331 million. Over the twelve months to 30 June 2026, Antero Midstream reported revenue of $1.2 billion and net income of $399 million. Revenue grew 5.7% a year, compounded, over the five years to fiscal 2025. Antero Midstream had 475 million shares outstanding at the latest filed count. At the close of 7 October 2026 the market cap of Antero Midstream was $9.9 billion, 24.8 times its earnings over the last twelve months.

Ratios

From the filings

ROE20.5%
ROCE11.8%
Operating margin52.8%
Net margin32.4%
FCF marginn/a
Interest covern/a
Debt to equity1.83
Cash conversion2.41
Share count, 1 year-0.9%
Sales CAGR, 3 years8.9%
Profit CAGR, 3 years8.2%
EPS, TTM$0.84

At the close of 7 October 2026

Price$20.85
Market cap$9.9 billion
Stock P/E24.82
Price to book5.09
EV / EBITDA15.46
Dividend yieldn/a
Market cap / sales8.02
52-week high$23.60
52-week low$17.15
Price, 1 year9.0%
Price CAGR, 3 years20.6%
Price CAGR, 5 years13.7%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from CBOE. Debt to equity here stands on long-term debt as Antero Midstream Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
AMgreeksoup.ai
Daily closes to 7 October 2026, adjusted for splits; prices from CBOE.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on AM

Filings22 in twelve months: 15 current reports (8-K), about 6 regulation fd disclosure; 4 results of operations; 4 other events; 1 shareholder vote; 1 acquisition or disposition completed
Planned insider sales6 Form 144 notices in twelve months, $4.6 million; latest 6 August 2026
Options tapeput/call 0.59 by open interest at the 8 October 2026 close; the straddle prices a 2.9% move to 16 October 2026
13F holders8 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading8 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest12.1 million shares short, 5.70 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue264260279270270287291305295297314327
Operating income162156166153162178177186180101189182
Operating margin62%60%60%57%60%62%61%61%61%34%60%56%
Pre-tax income13413114011413815615716816277.2156154
Tax rate27%24%26%25%28%29%23%26%28%33%24%27%
Net income97.710010485.999.611112112411651.8118113
Net margin37%39%37%32%37%39%41%41%39%17%38%35%
Diluted EPS$0.20$0.21$0.21$0.18$0.21$0.23$0.25$0.26$0.24$0.11$0.25$0.24
Operating cash flow202208211216185233199265213256239254
Capital expenditure0.00.02.068.6n/a0.0n/an/an/an/an/an/a
Free cash flow202208209147n/a233n/an/an/an/an/an/a
Buybacksn/an/an/an/an/an/a28.616.841.348.318.08.3
Dividends paid108108108113109108113112108107111110
Shares outstanding480m480m480m481m481m479m479m479m477m474m475m475m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 11 fiscal years and the trailing twelve months

FY2015FY2016FY2017 †FY2018 †FY2019 †FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue1.316.969.71437939018989201,0421,1061,1881,233
Operating incomen/a16.1-41.1-43.9-398-118555539612659645652
Operating marginn/a95.2%-59.0%-30.7%-50.3%-13.1%61.8%58.6%58.7%59.6%54.2%52.8%
Pre-tax income1.316.128.698.9-458-178449444500549564549
Income tax0.56.426.332.3-102-55.7117117128148151150
Effective tax rate38.2%39.8%91.9%32.7%n/an/a26.1%26.5%25.7%26.9%26.8%27.2%
Net income0.89.74.961.4-356-123331326371400413399
Net margin61.8%57.3%7.1%42.9%-44.9%-13.7%36.9%35.4%35.6%36.2%34.7%32.4%
Diluted EPSn/an/a$0.03$0.33-$0.80-$0.26$0.69$0.68$0.77$0.83$0.86$0.84
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2025Share
latest year
Gathering and Processing80588995080.0%
Water Handling23621723820.0%
Gathering and ProcessingWater Handling
1,042FY20231,106FY20241,188FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2015FY2016FY2017 †FY2018 †FY2019 †FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow0.39.528.183.5622753710700779844932961
Capital expendituren/an/an/an/a267158n/a2170.370.0n/an/a
Free cash flown/an/an/an/a355595n/a483779774n/an/a
Free cash flow marginn/an/an/an/a44.8%66.1%n/a52.5%74.8%70.0%n/an/a
Cash from investingn/an/an/an/a-526-219-233-494-183-243-169-913
Cash from financing-0.2n/a-31.7-86.7-98.3-535-477-206-596-601-500-48.6
Depreciation and amortisationn/an/an/an/a95.5109179202207211205220
Share-based compensationn/an/a34.935.173.512.813.519.731.644.346.043.6
Buybacksn/an/an/an/a12624.7n/an/an/a28.7135116
Dividends paidn/an/a16.084.2492590471433435438439436
Diluted shares, weightedn/an/a186m186m443m478m480m480m482m485m482m477m
Shares outstanding at period endn/an/an/a0484m477m477m478m480m479m474m475m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2015FY2016FY2017 †FY2018 †FY2019 †FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equityn/an/an/a30.93,1432,4182,2872,1922,1522,1151,9721,945
Debtn/an/an/an/a2,8923,0923,1233,3613,2133,1173,2233,566
Other liabilitiesn/an/an/a16.8247101134238373530690852
Total liabilities and equityn/a17.429.847.76,2835,6115,5445,7915,7385,7625,8846,364
Owned
Fixed assetsn/an/an/an/a3,2733,2543,3953,7513,7943,8823,4553,943
Goodwilln/an/an/an/a575n/an/an/an/an/an/an/a
Intangible assetsn/an/an/an/a1,4981,4271,3571,2861,2151,1451,0741,652
Cash and equivalentsn/a9.66.02.81.20.6n/a0.00.1n/a1800.0
Receivablesn/an/an/an/a4.60.80.70.6n/an/an/an/a
Other assetsn/a7.823.844.99309287927537297351,175769
Total assetsn/a17.429.847.76,2835,6115,5445,7915,7385,7625,8846,364
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded98.3%5.7%8.9%6.9%
Profit growth, compounded87.2%n/a8.2%-12.4%
Return on equity, averagen/a17.3%19.0%20.9%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Utilities

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Williams Companies, Inc. WMB$88.5 billion28.8223.3%38.2%8.7%2.132.8%
National Grid plc NGG *$80.2 billion17.878.2%30.7%-3.8%1.192.7%
Kinder Morgan, Inc. KMI$71.8 billion20.6711.0%29.0%12.5%0.943.6%
TC Energy Corporation TRP *$62.4 billion26.1412.9%52.7%10.7%2.204.0%
Targa Resources Corp. TRGP$61.9 billion27.5862.0%22.9%-2.0%5.351.3%
DT Midstream, Inc. DTM$12.6 billion27.149.8%49.6%18.1%0.702.7%
Pinnacle West Capital Corp. PNW$11.9 billion18.779.1%20.5%5.7%1.393.7%
Essential Utilities, Inc. WTRG$11.0 billion19.767.9%35.1%9.9%1.204.8%
Antero Midstream Corp. AM$9.9 billion24.8220.5%52.8%6.9%1.83n/a
OGE Energy Corp. OGE$9.5 billion20.229.4%24.2%0.6%1.123.7%
UGI Corp. UGI$7.9 billion12.3512.9%16.2%-0.5%1.284.1%
National Fuel GAS Co. NFG$7.4 billion10.8617.2%40.3%15.1%0.912.7%
All 53 in Utilities
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
NextEra Energy Inc. NEE$161.4 billion17.3916.3%29.8%10.8%1.732.9%
Constellation Energy Corp. CEG$101.2 billion27.7810.8%14.7%26.0%0.600.1%
Southern Co. SO$97.1 billion20.7611.0%24.2%6.4%1.623.4%
Duke Energy Corp. DUK$91.1 billion17.579.6%27.8%6.3%1.503.6%
Williams Companies, Inc. WMB$88.5 billion28.8223.3%38.2%8.7%2.132.8%
National Grid plc NGG *$80.2 billion17.878.2%30.7%-3.8%1.192.7%
Kinder Morgan, Inc. KMI$71.8 billion20.6711.0%29.0%12.5%0.943.6%
American Electric Power Co. Inc. AEP$66.6 billion21.209.8%23.0%10.3%1.583.1%
TC Energy Corporation TRP *$62.4 billion26.1412.9%52.7%10.7%2.204.0%
Targa Resources Corp. TRGP$61.9 billion27.5862.0%22.9%-2.0%5.351.3%
ONEOK Inc. OKE$56.9 billion15.5715.9%15.5%40.8%1.374.7%
Dominion Energy, Inc. D$54.3 billion21.528.8%21.1%19.0%1.624.3%
Vistra Corp. VST$52.5 billion26.3340.5%18.5%3.8%3.570.6%
Sempra SRE$52.4 billion23.217.0%n/a1.6%0.953.2%
Entergy Corp. ETR$46.9 billion26.289.9%22.9%9.5%1.812.4%
Xcel Energy Inc. XEL$45.8 billion20.109.3%19.1%4.7%1.543.1%
Exelon Corp. EXC$43.1 billion15.259.4%20.8%6.6%1.693.8%
Consolidated Edison Inc. ED$39.1 billion17.438.6%18.0%9.5%1.083.1%
Public Service Enterprise Group Inc. PEG$35.8 billion17.8711.6%23.1%12.7%1.363.5%
WEC Energy Group, Inc. WEC$33.8 billion20.0811.6%22.8%8.9%1.323.4%
Ameren Corp. AEE$28.2 billion17.9311.4%24.9%3.8%1.392.8%
Pg&E Corp. PCG$27.9 billion9.189.0%20.0%5.7%1.82n/a
Atmos Energy Corp. ATO$27.1 billion19.179.2%37.0%6.5%0.642.2%
DTE Energy Co. DTE$26.4 billion20.0810.8%13.3%15.9%2.133.5%
Firstenergy Corp. FE$26.0 billion23.868.4%14.6%12.6%2.104.0%
PPL Corp. PPL$25.7 billion20.188.4%24.1%6.7%1.323.2%
American Water Works Company, Inc. AWK$25.5 billion22.219.7%36.9%6.9%1.202.6%
Centerpoint Energy Inc. CNP$25.3 billion22.609.5%23.2%7.1%1.952.3%
Eversource Energy ES$24.7 billion17.028.9%21.5%7.8%1.634.6%
NRG Energy, Inc. NRG$22.4 billion27.6217.5%6.1%12.8%4.821.7%
Edison International EIX$20.9 billion5.6021.4%32.7%10.7%2.336.2%
CMS Energy Corp. CMS$20.5 billion19.6210.5%18.9%9.9%1.863.3%
Nisource Inc. NI$19.4 billion21.569.5%27.0%12.3%1.632.8%
Evergy, Inc. EVRG$18.6 billion20.499.1%26.2%3.6%1.203.4%
Talen Energy Corp. TLN$18.1 billionn/a-11.4%2.6%60.8%5.92n/a
Alliant Energy Corp. LNT$17.0 billion20.7310.9%22.1%6.8%1.413.1%
DT Midstream, Inc. DTM$12.6 billion27.149.8%49.6%18.1%0.702.7%
Pinnacle West Capital Corp. PNW$11.9 billion18.779.1%20.5%5.7%1.393.7%
Essential Utilities, Inc. WTRG$11.0 billion19.767.9%35.1%9.9%1.204.8%
Antero Midstream Corp. AM$9.9 billion24.8220.5%52.8%6.9%1.83n/a
OGE Energy Corp. OGE$9.5 billion20.229.4%24.2%0.6%1.123.7%
UGI Corp. UGI$7.9 billion12.3512.9%16.2%-0.5%1.284.1%
National Fuel GAS Co. NFG$7.4 billion10.8617.2%40.3%15.1%0.912.7%
Idacorp Inc. IDA$7.4 billion22.209.0%22.8%-0.4%0.972.6%
Txnm Energy Inc. TXNM$6.5 billion31.975.5%22.2%10.0%1.462.8%
Southwest Gas Holdings, Inc. SWX$6.0 billionn/an/an/an/a0.833.0%
Black Hills Corp. BKH$5.8 billion19.327.6%23.9%2.5%1.013.5%
Ormat Technologies, Inc. ORA$5.5 billion43.664.9%16.6%31.1%0.600.5%
Portland General Electric Co. POR$5.3 billion19.986.2%14.1%1.3%1.204.6%
NEW Jersey Resources Corp. NJR$5.2 billion14.0913.9%24.8%6.4%1.213.6%
Spire Inc. SR$4.6 billion8.6915.3%19.7%4.1%1.614.0%
NorthWestern Energy Group, Inc. NWE$4.6 billion26.945.9%18.8%10.7%1.193.5%
One Gas, Inc. OGS$4.5 billion15.598.1%20.6%-0.8%0.743.7%
6 companies share its SEC industry code (Natural Gas Transmission); the rest are the names nearest in size in its wider industry, Utilities, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202629 July 2026EDGAR
10-Q31 March 202629 April 2026EDGAR
10-K31 December 202511 February 2026EDGAR
10-Q30 September 202529 October 2025EDGAR
10-Q30 June 202530 July 2025EDGAR
10-Q31 March 202530 April 2025EDGAR
10-K31 December 202412 February 2025EDGAR
10-Q30 September 202430 October 2024EDGAR
10-Q30 June 202431 July 2024EDGAR
10-Q31 March 202424 April 2024EDGAR

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