Antero Midstream Corp AM

Utilities SIC 4922 - Natural Gas Transmission NAICS Transportation and Warehousing › Pipeline Transportation › Pipeline Transportation of Natural Gas derived NYSE

Antero Midstream Corporation together with its consolidated subsidiaries ("Antero Midstream," the "Company," "we," "us" or "our") is a growth-oriented midstream energy company formed to own, operate and develop midstream energy assets that primarily service Antero Resources' production and completion activity in the Appalachian Basin located in West Virginia and Ohio. Our assets consist of gathering systems and compression facilities, water handling and blending facilities and interests in processing and fractionation plants. We conduct our operations and own our operating assets and ownership interests in the Joint Venture and Stonewall through Antero Midstream Partners and its subsidiaries, all of which are wholly-owned. Additionally, Antero Resources has a 29% ownership interest in us as of December 31, 2025. Unless expressly stated otherwise, the operating and financial information presented in this Annual Report on Form 10-K does not give effect to the HG Acquisition or the Utica Shale Divestiture.

Last close 20.85 2026-10-23
Market cap $9.90B 2026-06-30 share count
52-week range 16.96 - 23.84

Valuation FY2025 figures against the last close

P/S8.3x
P/E24.2x
P/FCF10.6x
EV/EBITDA16.6x
Dividend yield4.4%
Diluted EPS0.86

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $1.19B$1.11B$1.04B$920.0M$898.2M$900.7M$792.6M$142.9M$69.7M$16.9M
SG&A $87.9M$86.1M$71.1M$62.1M$63.8M$52.2M$118.1M$43.9M$41.1M$814.0K
Total operating expenses $543.8M$447.0M$429.9M$380.5M$342.9M$1.02B$1.19B$43.9M$41.1M$814.0K
Operating income $644.7M$659.2M$611.9M$539.5M$555.3M-$117.6M-$398.5M-$43.9M-$41.1M$16.1M
Interest expense ——$217.2M$189.9M$175.3M$147.0M$110.4M$136.0K——
Pre-tax income $564.2M$548.6M$500.1M$443.7M$448.7M-$178.2M-$457.6M$98.9M$28.6M$16.1M
Income tax $151.0M$147.7M$128.3M$117.5M$117.1M$55.7M$102.5M$32.3M$26.3M$6.4M
Net income $418.0M$401.0M$372.0M$326.0M$332.0M-$122.5M-$355.1M$66.6M$2.3M$9.7M
EPS, basic 0.860.830.770.680.69-0.26-0.800.33——
EPS, diluted 0.860.830.770.680.69-0.26-0.800.330.03—
Shares, diluted (wtd. avg.) 482.2M485.2M482.4M480.3M479.7M478.3M442.6M186.2M186.2M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $180.4M—$66.0K——$640.0K$1.2M$2.8M$6.0M$9.6M
Receivables ———$575.0K$747.0K$839.0K$4.6M———
Total current assets $379.9M$118.1M$91.1M$89.0M$83.8M$93.9M$108.6M$2.9M$6.0M$9.8M
Property, plant and equipment $3.45B$3.88B$3.79B$3.75B$3.39B$3.25B$3.27B———
Goodwill ——————$575.5M———
Other intangibles $1.07B$1.14B$1.22B$1.29B$1.36B$1.43B$1.50B———
Total assets $5.88B$5.76B$5.74B$5.79B$5.54B$5.61B$6.28B$47.7M$29.8M$17.4M
Accounts payable ———$22.9M$23.6M$9.5M$6.6M$28.0K$236.0K—
Total current liabilities $111.5M$100.6M$96.4M$102.1M$114.0M$94.0M$242.1M$16.8M$14.2M$7.1M
Long-term debt $3.22B$3.12B$3.21B$3.36B$3.12B$3.09B$2.89B———
Total liabilities $3.91B$3.65B$3.59B$3.60B$3.26B$3.19B$3.14B$16.8M——
Retained earnings $14.8M$90.5M$100.4M$82.8M-$132.5M-$464.1M-$341.6M———
Total equity $1.97B$2.12B$2.15B$2.19B$2.29B$2.42B$3.14B———

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $932.5M$844.0M$779.1M$699.6M$709.8M$753.4M$622.4M$83.5M$28.1M$9.5M
Depreciation and amortisation $134.3M$140.0M$136.1M$131.8M$108.8M$108.8M$95.5M———
Stock-based compensation $46.0M$44.3M$31.6M$19.7M$13.5M$12.8M$73.5M$35.1M$34.9M—
Capital expenditure —$70.0M$266.0K$216.7M—$157.9M$267.4M———
Investing cash flow -$169.2M-$242.7M-$183.2M-$493.8M-$233.2M-$219.2M-$525.7M———
Financing cash flow -$500.3M-$601.3M-$595.8M-$205.8M-$477.1M-$534.7M-$98.3M-$86.7M-$31.7M—
Dividends paid $439.0M$437.6M$434.8M$432.8M$107.7M$147.2M$148.9M$152.1M$16.0M—
Buybacks $135.0M$28.7M———$24.7M$125.5M———

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001308179-26-000332.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B Revenue, FY2016: 16.9M Net income, FY2016: 9.7M Revenue, FY2017: 69.7M Net income, FY2017: 2.3M Revenue, FY2018: 142.9M Net income, FY2018: 66.6M Revenue, FY2019: 792.6M Net income, FY2019: -355.1M Revenue, FY2020: 900.7M Net income, FY2020: -122.5M Revenue, FY2021: 898.2M Net income, FY2021: 332M Revenue, FY2022: 920M Net income, FY2022: 326M Revenue, FY2023: 1B Net income, FY2023: 372M Revenue, FY2024: 1.1B Net income, FY2024: 401M Revenue, FY2025: 1.2B Net income, FY2025: 418M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $16.9M $69.7M $142.9M $792.6M $900.7M $898.2M $920.0M $1.04B $1.11B $1.19B
Gross profit — — — — — — — — — —
Net income $9.7M $2.3M $66.6M -$355.1M -$122.5M $332.0M $326.0M $372.0M $401.0M $418.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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