Antero Midstream Corp is a US-listed company in the oil & gas storage & transportation industry. Its financial year ends in December.
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~$39
Cash-flow model
Base case. Range ~$28–$54 across our lower- and higher-growth cases (2.3%–12.3% a year).
Undervalued
The price is below our entire value range; our base value is 87% above it.
Price used: $20.87, November 2, 2026
Antero Midstream Corp valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Model value +26.6%
Revenue for the twelve months to September 2026 was $1.27bn, up 7.3% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to 95.2% from 65.8% a year earlier. Operating margin widened to 81.3% from 61.2%. Our model value rises from $30.60 to $38.73 a share, against a share price of $21.64. The rating stays Buy.
Source: 10-Q filed October 28, 2026 on SEC EDGAR · Financials · Valuation
Antero Midstream's revenue for the twelve months to June 2026 reached $1.27bn, up 7.3% on the prior year and broadly in line with the growth rate seen a quarter earlier. Margins improved sharply over the period. Free-cash-flow margin climbed to 95.2%, from 65.8% a year earlier, while operating margin widened to 81.3% from 61.2%. Despite this progress, our model value has been trimmed, falling from $35.24 to $30.60 a share. That figure still sits well above the current share price of $21.10, leaving a wide gap between where the stock trades and where we think it belongs. The rating is unchanged at Buy.
Revenue for the twelve months to June 2026 was $1.23bn, up 6.9% on a year earlier, slower than 8.3% a quarter earlier. Free-cash-flow margin rose to 77.9% from 76.4% a year earlier. Operating margin narrowed to 52.8% from 61.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 1 of our 6 financial-health checks. Our cash-flow model value is $34.01 a share, against a share price of $20.65. At that price, our model says the market is pricing in about 0.4% a year of cash-flow growth for five years, slower than the 6.5% a year revenue growth it has delivered.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Antero Midstream Corp's trailing-twelve-month revenue grew 7.3% year on year, with a free-cash-flow margin of 95.2%. Where it stands out: operating margin of 81.3% ranks 1 of 27 oil & gas storage & transportation companies we cover. Where it lags: stock pay as % of revenue of 3.4% ranks 20 of 20 oil & gas storage & transportation companies we cover.
Our discounted-cash-flow model values the business at ~$39 per share in the base case (~$28–$54 across growth scenarios) — model values under stated assumptions, not a price target.
Current signal Free-cash-flow margin near historical high: TTM FCF margin of 95.2% is above every prior reading in its 18-quarter history.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
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Company announcements, filed results and changes that matter to shareholders.
The company also guided to interest expense of $200.00m to $220.00m for the Twelve Months Ended December 31, 2026; current income tax expense of $10.00m to $20.00m for the Twelve Months Ended December 31, 2026.
The share price implies cash flow shrinking about 0.8% a year for five years.That is slower than the 7.1% a year revenue growth Antero Midstream has delivered.
Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.
Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($21.10, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies
Our value per share comes from a discounted-cash-flow model of Antero Midstream Corp's free cash flow after stock-based pay ( $934M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.
We value Antero Midstream Corp as an operating company, with every model that fits that kind of business. Cost of equity 7.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.57 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. | ~$39 ~$28–$54 | Primary model, counts double |
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | ~$24 ~$20–$38 | Included |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$11 ~$8.8–$14 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$13 ~$12–$15 | Included |
| Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$25 ~$11–$39 | 4 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Antero Midstream Corp with Oil & Gas Storage & Transportation in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| Discount rate ↓ / growth → | −5% growth | 0% growth | 5% growth | 10% growth | 15% growth | 20% growth |
|---|---|---|---|---|---|---|
| 7% | $22 | $32 | $45 | $63 | $86 | $116 |
| 8.5% | $15 | $22 | $32 | $45 | $61 | $83 |
| 10% | $11 | $17 | $24 | $34 | $47 | $63 |
| At fiscal year end | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Now |
|---|---|---|---|---|---|---|---|---|---|---|
| Share price | $8.89 | $5.17 | $3.90 | $4.98 | $6.95 | $8.48 | $10.66 | $13.70 | $17.03 | $20.87 |
| Market value | $1.7bn | $962m | $1.7bn | $2.4bn | $3.3bn | $4.1bn | $5.1bn | $6.6bn | $8.2bn | $10.0bn |
| + Net debt (− = net cash) | −$6m | −$3m | $2.9bn | $3.1bn | $0 | $3.4bn | $3.2bn | $0 | $3.1bn | $3.2bn |
| Enterprise value | $1.6bn | $959m | $4.6bn | $5.5bn | $3.3bn | $7.5bn | $8.4bn | $6.6bn | $11.3bn | $13.2bn |
| Multiples | ||||||||||
| Price / sales | 23.7x | 6.7x | 2.2x | 2.6x | 3.7x | 4.4x | 4.9x | 6.0x | 6.9x | 7.9x |
| Price / earnings | n/m | 15.7x | — | — | 10.1x | 12.5x | 13.9x | 16.6x | 19.9x | 14.8x |
| Price / free cash flow | — | — | 4.9x | 4.0x | — | 8.4x | 6.6x | 8.6x | 8.8x | 7.4x |
| EV / EBITDA | — | — | — | — | 5.0x | 11.1x | 11.2x | 8.3x | 14.5x | 11.2x |
Moderate moat
How hard Antero Midstream's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.
Net income has been a median 6.4% of total assets over 10 years.
Operating margin has been a median 58.7%; its worst year was -70.4%.
Free cash flow was positive in 5 of 5 years, at a median 69.3% of revenue.
The diluted share count rose 0.1% over five years; stock-based pay has been a median 3.4% of revenue.
AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $1.39 | +24% | $1.3bn | +13% |
| Next | $1.61 | +16% | $1.5bn | +9% |
Next year's EPS estimate has moved +8.8% in 90 days, across 1 analysts.
The consensus EPS forecast for the current fiscal year is +6.8% on 90 days ago. In the last 30 days, 0 analysts raised Antero Midstream Corp's forecast and 1 cut it.
Average of analysts' published estimates (third-party data).
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $1.30 | $1.48 |
| 60 days ago | $1.30 | $1.50 |
| 30 days ago | $1.30 | $1.49 |
| 7 days ago | $1.28 | $1.48 |
| Now | $1.39 | $1.61 |
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Sept 2026 | $0.36 | $0.28 | −23.0% |
| Jun 2026 | $0.33 | $0.27 | −18.1% |
| Mar 2026 | $0.30 | $0.29 | −3.6% |
| Dec 2025 | $0.27 | $0.28 | +2.2% |
Adjusted EPS as companies report it, against the average analyst estimate.
Our cash-flow model grows Antero Midstream Corp's revenue by +10.0% next year and +7.6% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+13.3%, weight 45%) and the company's own record (+7.3%, weight 55%) . How the weights are set.
Last 12 months +26.4%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $1.2bn | $1.2bn | +6.9% |
| Net margin | 39.5% | 32.4% | −18.0% |
| P/E multiple | 17.6x | 25.1x | +42.6% |
| Share count | 485m | 479m | +1.1% |
Biggest factor: p/e multiple.
Last 3 years +89.9%
| Part | Then | Now | Effect |
|---|---|---|---|
| Revenue (last 12 months) | $990m | $1.2bn | +24.5% |
| Net margin | 34.3% | 32.4% | −5.7% |
| P/E multiple | 15.6x | 25.1x | +61.1% |
| Share count | 481m | 479m | +0.4% |
Biggest factor: p/e multiple.
| Calendar year | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|---|
| Return | ||||||
| AM | +40% | +22% | +26% | +29% | +24% | +23% |
| Industry peers (median) | +40% | +21% | +9% | +27% | +8% | +22% |
| S&P 500 | +29% | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||||
| AM | 67% | 67% | 58% | 67% | 58% | 55% |
| S&P 500 | 75% | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||||
| AM | −19% | −22% | −12% | −11% | −14% | −14% |
| S&P 500 | −5% | −25% | −10% | −8% | −19% | −9% |
Worst fall since May 4, 2017: 89% from June 1, 2017 to March 18, 2020. Getting back needed a 841% gain, reached on August 29, 2023, 1259 days after the low.
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| October 28, 2026 | +3.1% | 0.0% | — | — |
| July 29, 2026 | +0.1% | +0.1% | −1.7% | +4.7% |
| April 29, 2026 | +1.0% | +1.0% | −2.2% | −3.1% |
| February 11, 2026 | +5.1% | −1.6% | +6.0% | +16.3% |
| October 29, 2025 | −0.7% | −1.1% | −2.1% | +2.3% |
| July 30, 2025 | +8.1% | −0.5% | +10.0% | +5.1% |
| April 30, 2025 | −0.3% | +0.7% | +5.3% | +11.0% |
| February 12, 2025 | +4.4% | +0.7% | +2.8% | +5.6% |
| October 30, 2024 | −3.4% | −2.3% | +2.0% | +7.3% |
| July 31, 2024 | −3.6% | +0.2% | −5.2% | +1.2% |
| April 24, 2024 | +2.1% | −0.4% | −1.8% | +3.4% |
| February 14, 2024 | +6.2% | +1.6% | +11.7% | +14.4% |
How Antero Midstream Corp’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.
Not offered: fundamentals grade B (needs B+ or better).
We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.
Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.
For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.
Not offered: the shares trade below our fair value: a collar caps upside the model expects.
For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.
General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY23 Q4 | $1B |
| FY24 Q1 | $1.1B |
| FY24 Q2 | $1.1B |
| FY24 Q3 | $1.1B |
| FY24 Q4 | $1.1B |
| FY25 Q1 | $1.1B |
| FY25 Q2 | $1.2B |
| FY25 Q3 | $1.2B |
| FY25 Q4 | $1.2B |
| FY26 Q1 | $1.2B |
| FY26 Q2 | $1.2B |
| FY26 Q3 | $1.3B |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Revenue growth, TTM YoY |
|---|---|
| FY23 Q4 | 13.2% |
| FY24 Q1 | 10.4% |
| FY24 Q2 | 8.3% |
| FY24 Q3 | 5.4% |
| FY24 Q4 | 6.2% |
| FY25 Q1 | 5.4% |
| FY25 Q2 | 7.6% |
| FY25 Q3 | 9.3% |
| FY25 Q4 | 7.4% |
| FY26 Q1 | 8.3% |
| FY26 Q2 | 6.9% |
| FY26 Q3 | 7.3% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | Operating margin (TTM) |
|---|---|
| FY23 Q4 | 58.7% |
| FY24 Q1 | 59.3% |
| FY24 Q2 | 59.4% |
| FY24 Q3 | 59.1% |
| FY24 Q4 | 59.6% |
| FY25 Q1 | 59.9% |
| FY25 Q2 | 61.0% |
| FY25 Q3 | 61.2% |
| FY25 Q4 | 54.2% |
| FY26 Q1 | 54.2% |
| FY26 Q2 | 52.8% |
| FY26 Q3 | 81.3% |
Source: SEC EDGAR filings. Retrieved October 29, 2026.
| Period | FCF margin (TTM) |
|---|---|
| FY23 Q4 | 74.8% |
| FY24 Q1 | 75.8% |
| FY24 Q2 | 71.4% |
| FY24 Q3 | 69.5% |
| FY24 Q4 | 70.0% |
| FY25 Q1 | 62.3% |
| FY25 Q2 | 65.0% |
| FY25 Q3 | 65.8% |
| FY25 Q4 | 67.2% |
| FY26 Q1 | 69.0% |
| FY26 Q2 | 66.6% |
| FY26 Q3 | 95.2% |
Each dollar Antero Midstream took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.
| Revenue | $1.2B | |
|---|---|---|
| Selling, general and admin | $87.9M | 7.4% of revenue |
| Other operating costs | $456M | 38.4% of revenue |
| Operating income | $645M | 54.2% of revenue |
| Income tax | $151M | 12.7% of revenue |
| Interest and other | $81M | 6.8% of revenue |
| Net income | $413M | 34.7% of revenue |
| Fiscal year | 2015 Dec 2015 | 2016 Dec 2016 | 2017 Dec 2017 | 2018 Dec 2018 | 2019 Dec 2019 | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 | LTM Sept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income | ||||||||||||
| Revenue | 1 | 17 | 70 | 143 | 793 | 901 | 898 | 920 | 1,042 | 1,106 | 1,188 | 1,265 |
| EBITDA | — | — | — | — | −303 | −9 | 664 | 671 | 748 | 799 | 779 | 1,172 |
| Operating income | — | 16 | −41 | −44 | −398 | −118 | 555 | 539 | 612 | 659 | 645 | 1,028 |
| Net income | 1 | 10 | 5 | 61 | −356 | −123 | 331 | 326 | 371 | 400 | 413 | 676 |
| Diluted EPS | — | — | $0.03 | $0.33 | −$0.80 | −$0.26 | $0.69 | $0.68 | $0.77 | $0.83 | $0.86 | $1.41 |
| Growth (year on year) | ||||||||||||
| Revenue | — | +>999% | +311.5% | +105.0% | +454.6% | +13.6% | −0.3% | +2.4% | +13.2% | +6.2% | +7.4% | +7.3% |
| EBITDA | — | — | — | — | — | — | — | +1.1% | +11.4% | +6.9% | −2.5% | +37.0% |
| Operating income | — | — | −355.0% | — | — | — | — | −2.9% | +13.4% | +7.7% | −2.2% | +42.4% |
| Net income | — | +>999% | −49.1% | +>999% | −679.3% | — | — | −1.6% | +14.0% | +7.8% | +3.1% | +43.2% |
| Diluted EPS | — | — | — | +>999% | −342.4% | — | — | −1.4% | +13.2% | +7.8% | +3.6% | +44.9% |
| Margins | ||||||||||||
| EBITDA margin | — | — | — | — | −38.2% | −1.0% | 73.9% | 73.0% | 71.8% | 72.2% | 65.5% | 92.6% |
| Operating margin | — | 95.2% | −59.0% | −30.7% | −50.3% | −13.1% | 61.8% | 58.6% | 58.7% | 59.6% | 54.2% | 81.3% |
| Net margin | 61.8% | 57.3% | 7.1% | 42.9% | −44.9% | −13.7% | 36.9% | 35.4% | 35.6% | 36.2% | 34.7% | 53.4% |
| Free-cash-flow margin | — | — | — | — | 44.8% | 66.1% | — | 52.5% | 74.8% | 70.0% | 78.5% | 106.6% |
| Cash flow | ||||||||||||
| Cash from operations | 0 | 10 | 28 | 84 | 622 | 753 | 710 | 700 | 779 | 844 | 932 | 1,349 |
| Capital spending | — | — | — | — | 267 | 158 | — | 217 | 0 | 70 | 0 | 0 |
| Free cash flow | — | — | — | — | 355 | 595 | — | 483 | 779 | 774 | 932 | 1,349 |
| Stock-based pay | — | — | 35 | 35 | 74 | 13 | 14 | 20 | 32 | 44 | 46 | 43 |
| Free cash flow after stock pay | — | — | — | — | 281 | 583 | — | 463 | 747 | 730 | 887 | 1,305 |
| Balance sheet | ||||||||||||
| Cash | — | 10 | 6 | 3 | 1 | 1 | — | 0 | 0 | — | 180 | 0 |
| Total debt | 0 | 0 | 0 | 0 | 2,910 | 3,114 | 3,147 | 3,382 | 3,230 | 3,134 | 3,250 | 3,177 |
| Net debt (negative = net cash) | — | −10 | −6 | −3 | 2,908 | 3,113 | — | 3,382 | 3,230 | — | 3,070 | 3,177 |
| Diluted shares | — | — | 186m | 186m | 443m | 478m | 480m | 480m | 482m | 485m | 482m | 478m |
| Returned to shareholders | ||||||||||||
| Dividends | — | — | 16 | 84 | 492 | 590 | 471 | 433 | 435 | 438 | 439 | 435 |
| Buybacks | — | — | — | — | 126 | 25 | — | — | — | 29 | 135 | 102 |
| Total returned | — | — | 16 | 84 | 618 | 614 | 471 | 433 | 435 | 466 | 574 | 537 |
| Quarter | 2024 Q4 Dec 2024 | 2025 Q1 Mar 2025 | 2025 Q2 Jun 2025 | 2025 Q3 Sept 2025 | 2025 Q4 Dec 2025 | 2026 Q1 Mar 2026 | 2026 Q2 Jun 2026 | 2026 Q3 Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Income | ||||||||
| Revenue | 287 | 291 | 305 | 295 | 297 | 314 | 327 | 327 |
| EBITDA | 211 | 210 | 220 | 215 | 134 | 223 | 219 | 595 |
| Operating income | 178 | 177 | 186 | 180 | 101 | 189 | 182 | 557 |
| Net income | 111 | 121 | 124 | 116 | 52 | 118 | 113 | 393 |
| Diluted EPS | $0.23 | $0.25 | $0.26 | $0.24 | $0.11 | $0.25 | $0.24 | $0.82 |
| Growth (year on year) | ||||||||
| Revenue | +10.5% | +4.3% | +13.2% | +9.2% | +3.3% | +7.9% | +7.1% | +10.9% |
| EBITDA | +10.5% | +3.3% | +15.5% | +10.3% | −36.2% | +6.3% | −0.2% | +176.9% |
| Operating income | +14.2% | +6.6% | +22.1% | +11.1% | −43.5% | +6.4% | −2.4% | +208.7% |
| Net income | +10.7% | +16.2% | +44.8% | +16.3% | −53.4% | −2.0% | −8.8% | +238.8% |
| Diluted EPS | +9.5% | +19.0% | +44.4% | +14.3% | −52.2% | 0.0% | −7.7% | +241.7% |
| Margins | ||||||||
| EBITDA margin | 73.2% | 72.1% | 72.0% | 72.9% | 45.2% | 71.0% | 67.0% | 182.0% |
| Operating margin | 61.8% | 60.9% | 61.0% | 61.2% | 33.8% | 60.0% | 55.6% | 170.4% |
| Net margin | 38.6% | 41.4% | 40.7% | 39.3% | 17.4% | 37.6% | 34.6% | 120.0% |
| Free-cash-flow margin | 80.9% | — | 86.8% | 72.2% | 86.0% | 75.9% | 77.7% | 183.6% |
| Cash flow | ||||||||
| Cash from operations | 233 | 199 | 265 | 213 | 256 | 239 | 254 | 600 |
| Capital spending | 0 | — | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | 233 | — | 265 | 213 | 256 | 239 | 254 | 600 |
| Stock-based pay | 11 | 12 | 11 | 11 | 11 | 11 | 11 | 11 |
| Free cash flow after stock pay | 221 | — | 254 | 202 | 244 | 228 | 243 | 589 |
| Last 12 months unless stated | AM | NFE | DTM | DKL | TRMD | EE | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $1.3bn | $1.3bn | $1.3bn | $1.2bn | $1.3bn | $1.5bn | $2.0bn |
| Revenue growth, last 12 months | 7.3% | −37.3% | 13.4% | 30.3% | −14.1% | 49.0% | 8.8% |
| Revenue growth, 3-year average | 7.3% | −19.4% | 13.1% | 4.4% | — | −8.2% | 4.0% |
| Revenue growth, latest quarter | 10.9% | 2.8% | 7.0% | 56.2% | — | 61.0% | 10.7% |
| Gross margin | — | 35.5% | — | 17.6% | — | — | 42.6% |
| Operating margin | 81.3% | −86.3% | 49.4% | 15.3% | 26.6% | 21.8% | 27.3% |
| Operating margin, 3-year average | 67.2% | −20.5% | 49.6% | 19.2% | — | 22.5% | 20.8% |
| Net margin | 53.4% | −149.4% | 35.4% | 12.8% | 21.3% | 3.2% | 13.1% |
| Cash from operations / revenue | 106.6% | −41.5% | 70.4% | 28.3% | 37.2% | 26.7% | 29.5% |
| Free-cash-flow margin | 95.2% | −59.8% | 40.0% | 9.9% | 14.2% | 1.6% | 11.8% |
| Free-cash-flow margin, 3-year average | 76.8% | −72.8% | 39.9% | 7.9% | — | 17.9% | 8.8% |
| Stock pay / revenue | 3.4% | 1.6% | 1.9% | 0.3% | 2.5% | 0.9% | 0.5% |
| Change in share count | −1.2% | 12.5% | 0.7% | — | 3.9% | — | 0.2% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 7.3% | 8.8% | 18 of 29 |
| Change in growth rate Growth | +0.5pp | +0.5pp | 15 of 29 |
| Operating margin Profitability | 81.3% | 28.1% | 1 of 27 |
| Net margin Profitability | 53.4% | 13.1% | 1 of 29 |
| Free-cash-flow margin Cash generation | 95.2% | 13.6% | 1 of 28 |
| Stock pay as % of revenue Cash generation | 3.4% | 0.8% | 20 of 20 |
| Long-term debt as % of assets Balance sheet | 49.7% | 46.2% | 16 of 26 |
| Change in share count Balance sheet | -1.2% | 0.2% | 3 of 19 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Line of business | Revenue | YoY |
|---|---|---|
| Natural Gas Gathering Transportation Marketing and Processing Affiliate | $987M | ▲ 6.6% |
| Natural Gas Water Handling and Treatment Affiliate | $269M | ▲ 8.3% |
| Natural Gas Water Handling and Treatment | $2.4M | ▲ 24.2% |
These categories overlap or exclude eliminations, so shares aren't shown.
From Antero Midstream Corp's 10-K filed February 11, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Blackrock, Inc. | $869M | 38.2M | 13.5% | ▲ 2.9% |
| Invesco Ltd. | $472M | 20.7M | 7.3% | ▼ 3.8% |
| Vanguard Portfolio Management LLC | $414M | 18.2M | 6.4% | ▼ 0.6% |
| Vanguard Capital Management LLC | $340M | 15.0M | 5.3% | ▲ 1.0% |
| State Street Corp | $263M | 11.6M | 4.1% | ▼ 0.3% |
| Geode Capital Management, LLC | $236M | 10.4M | 3.7% | ▲ 4.7% |
| Tortoise Capital Advisors, L.L.C. | $232M | 10.2M | 3.6% | ▼ 8.7% |
| Dimensional Fund Advisors LP | $205M | 9.0M | 3.2% | ▼ 0.1% |
| Neuberger Berman Group LLC | $169M | 7.4M | 2.6% | ▲ 2.2% |
| Bank Of New York Mellon Corp | $157M | 6.9M | 2.4% | ▼ 24.2% |
| Morgan Stanley | $152M | 6.7M | 2.4% | ▲ 7.1% |
| Charles Schwab Investment Management Inc | $88.9M | 3.9M | 1.4% | ▼ 0.8% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Antero Midstream Corp's complete shareholder register. Values are as reported by the filers ; 5 inconsistently scaled filing rows were excluded.
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Klimley Brooks J Director | August 6, 2026 | Sell | 5,000 | $21.27 | $106,350 |
| Pearce Sheri See Remarks | August 4, 2026 | Sell | 16,000 | $22.01 | $352,160 |
| Kennedy Michael N. See Remarks | May 4, 2026 | Sell pre-set plan | 100,000 | $21.92 | $2.2M |
| Schultz Yvette K See Remarks | May 4, 2026 | Sell | 69,269 | $21.90 | $1.5M |
| Klimley Brooks J Director | March 12, 2026 | Sell | 5,000 | $23.16 | $115,800 |
| Pearce Sheri See Remarks | March 10, 2026 | Sell | 14,000 | $22.76 | $318,640 |
| Schultz Yvette K See Remarks | March 9, 2026 | Sell | 25,000 | $22.81 | $570,250 |
| Klimley Brooks J Director | December 16, 2025 | Sell | 5,000 | $17.59 | $87,950 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
No trades in Antero Midstream Corp disclosed in the last 12 months; 57 earlier trades on record.
Next expected around February 10, 2027 estimated from the company's past filing pattern, not announced
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| Financial statements | SEC 10-K and 10-Q filings | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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