Antero Midstream vs Delek Logistics Partners, LP
Antero Midstream is the larger business, with $1.19bn of revenue in fiscal 2025 against $1.01bn for Delek Logistics Partners, LP (1.2 times as much). Delek Logistics Partners, LP grew faster (7.7% against 7.4%). Antero Midstream kept more of each dollar of sales as profit: a net margin of 34.7% against 17.4%.
| Latest fiscal year | Antero MidstreamAM, 2025 | Delek Logistics Partners, LPDKL, 2025 |
|---|---|---|
| Revenue | $1.19bn | $1.01bn |
| Revenue growth | 7.4% | 7.7% |
| Net income | $413m | $176m |
| Operating margin | — | — |
| Net margin | 34.7% | 17.4% |
| Return on equity | 20.2% | — |
| Free cash flow | $932m | −$30.6m |
| Cash | $180m | $10.9m |
| Total debt | $3.25bn | $2.36bn |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | 4.4% | — |
| Share buybacks | $135m | $10.0m |
| Employees | — | — |
| Market value | $9.96bn | $2.86bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 67 (Moderate) | 74 (Strong) |
| Insider trades, 12 months | 0 buys, 8 sales | 5 buys, 5 sales |