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 2024-04-26 pm EDT 		5-day change 1st Jan Change
14.19 USD -0.28% Intraday chart for Antero Midstream Corporation +1.94% +13.25%
Apr. 25 Transcript : Antero Midstream Corporation, Q1 2024 Earnings Call, Apr 25, 2024
Apr. 24 Correction: Antero Midstream Q1 Earnings, Revenue Rise MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 3,674 3,675 4,622 5,163 6,011 6,829 - -
Enterprise Value (EV) 1 6,565 6,766 7,745 8,524 9,241 9,981 9,902 9,835
P/E ratio -13.3 x -29.7 x 14 x 15.9 x 16.3 x 16.2 x 14.8 x 13.1 x
Yield 16.1% 16% 9.3% 8.34% 7.18% 6.34% 6.48% 6.54%
Capitalization / Revenue 3.66 x 4.08 x 5.15 x 5.61 x 5.77 x 6.28 x 6.02 x 5.94 x
EV / Revenue 6.54 x 7.51 x 8.62 x 9.27 x 8.87 x 9.18 x 8.73 x 8.55 x
EV / EBITDA 7.91 x 7.96 x 8.84 x 9.64 x 9.34 x 9.49 x 9.16 x 8.95 x
EV / FCF - 12.7 x 16.3 x 46.3 x 15.7 x 14.3 x 14 x 13.5 x
FCF Yield - 7.85% 6.13% 2.16% 6.35% 6.97% 7.13% 7.4%
Price to Book 1.17 x 1.52 x 2.02 x 2.36 x 2.81 x 3.53 x 3.84 x 4.04 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 14.19 14.19 14.19
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 1,088 1,134 1,150
EBITDA 1 829.6 850.2 876.4 884.2 989.2 1,051 1,081 1,099
EBIT 1 -296.1 716 767.6 706.3 795 772.2 807.5 797.5
Operating Margin -29.48% 79.5% 85.46% 76.78% 76.31% 70.99% 71.19% 69.32%
Earnings before Tax (EBT) 1 -364.2 -178.2 448.7 443.7 500.1 536.1 580.3 652.3
Net income 1 -285.1 -122.5 331.6 326.2 371.8 425.9 464 534.6
Net margin -28.39% -13.6% 36.92% 35.46% 35.69% 39.15% 40.91% 46.47%
EPS 2 -0.5700 -0.2600 0.6900 0.6800 0.7700 0.8775 0.9573 1.085
Free Cash Flow 1 - 531.4 474.9 184 587 696.1 705.9 727.5
FCF margin - 59% 52.87% 20% 56.34% 63.99% 62.24% 63.23%
FCF Conversion (EBITDA) - 62.5% 54.18% 20.8% 59.34% 66.21% 65.31% 66.21%
FCF Conversion (Net income) - - 143.19% 56.39% 157.87% 163.44% 152.14% 136.09%
Dividend per Share 2 1.225 1.230 0.9000 0.9000 0.9000 0.9000 0.9200 0.9280
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 1 216.5 218.5 228.9 231 241.6 259.5 258.3 263.8 260.2 279.1 271.4 262.9 270.8 277.4 285.2
EBITDA 1 212.7 209 221 223.1 231 241.8 242.5 250.9 254 265.3 263.5 260.7 264 267.7 275.4
EBIT 1 185.8 - - - - - 151.6 162.3 155.7 166.3 186.7 181.3 189.3 189.4 207.6
Operating Margin 85.81% - - - - - 58.7% 61.52% 59.84% 59.58% 68.78% 68.96% 69.9% 68.29% 72.79%
Earnings before Tax (EBT) 1 107.2 108.1 105.8 114.3 115.5 118.2 116.1 134.5 131.3 140.4 133.8 125.2 132.3 134.3 140.8
Net income 1 78.63 80.04 79.4 84.01 82.79 86.51 87.01 97.82 100.4 103.9 108.2 102.5 107.3 111.5 116.3
Net margin 36.32% 36.63% 34.68% 36.36% 34.28% 33.34% 33.69% 37.08% 38.61% 37.24% 39.86% 38.97% 39.63% 40.19% 40.76%
EPS 2 0.1600 0.1700 0.1700 0.1700 0.1700 0.1800 0.1800 0.2000 0.2100 0.2100 0.2161 0.2173 0.2231 0.2289 0.2377
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 3,152 3,073 3,006
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.485 x 3.636 x 3.563 x 3.801 x 3.265 x 2.998 x 2.843 x 2.735 x
Free Cash Flow 1 - 531 475 184 587 696 706 728
ROE (net income / shareholders' equity) - 15.4% 17.3% 17% 17.1% 21.4% 26.7% 37.2%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 6.490 5.070 4.790 4.580 4.460 4.020 3.690 3.510
Cash Flow per Share - - - - - - - -
Capex 1 392 222 235 516 185 148 150 138
Capex / Sales 39.03% 24.65% 26.15% 56.05% 17.76% 13.56% 13.22% 12.02%
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
9
Last Close Price
14.19 USD
Average target price
14.09 USD
Spread / Average Target
-0.72%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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