📊 AM Key Takeaways
Is Antero Midstream Corp (AM) a Good Investment?
Antero Midstream demonstrates exceptional fundamental strength with a 54.2% operating margin, robust 72.6% free cash flow margin, and consistent profitability despite a mature business model. The company generates substantial free cash flow of $862.5M against modest capex of $70M, indicating a highly efficient capital-light operation with strong cash generation capabilities.
Antero Midstream shows strong underlying fundamentals with very high operating and net margins, robust cash generation, and low capital intensity that converts revenue efficiently into free cash flow. Financial health is solid on liquidity and profitability, though the balance sheet remains meaningfully levered and earnings growth is currently modest, which keeps the outlook favorable but not without risk.
Why Buy Antero Midstream Corp Stock? AM Key Strengths
- Exceptional operating margin of 54.2% and net margin of 34.7% indicating pricing power and operational efficiency
- Outstanding free cash flow generation of $862.5M with 72.6% FCF margin demonstrates high-quality earnings conversion
- Strong balance sheet with current ratio of 3.41x and $180.4M cash position supporting financial stability
- Healthy ROE of 20.9% and ROA of 7.0% showing efficient capital deployment
- Revenue growth of 7.4% YoY provides growth in a stable infrastructure business
- Exceptional free cash flow generation with $862.47M of FCF and a 72.6% FCF margin
- Strong profitability profile with 54.2% operating margin, 34.7% net margin, and 20.9% ROE
- Healthy liquidity position with a 3.41x current and quick ratio plus positive revenue growth of 7.4% YoY
AM Stock Risks: Antero Midstream Corp Investment Risks
- High financial leverage with debt-to-equity ratio of 1.63x limits financial flexibility despite strong cash generation
- Long-term debt of $3.2B represents 62% of total assets, creating refinancing and interest rate exposure
- Cyclical exposure to upstream natural gas production volumes and commodity price volatility affecting throughput volumes
- Mature midstream asset base may face long-term energy transition headwinds from renewable energy adoption
- High insider trading activity with 17 Form 4 filings in 90 days warrants monitoring for potential concerns
- Leverage remains elevated with $3.22B of long-term debt and 1.63x debt-to-equity
- Net income was essentially flat year over year, indicating limited bottom-line growth despite revenue gains
- Asset-heavy midstream business may face slower growth if customer volumes or capital allocation weaken
Key Metrics to Watch
- Operating cash flow sustainability and FCF generation trends to ensure cash distribution capability
- Debt reduction progress and refinancing schedules given elevated leverage ratios
- Throughput volumes and contract renewal rates to assess growth trajectory
- Capital expenditure requirements and maintenance capex trends affecting free cash flow
- Debt reduction and leverage ratios, including debt-to-equity and interest burden
- Sustainability of free cash flow and revenue growth relative to net income growth
Antero Midstream Corp (AM) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The 72.6% free cash flow margin provides substantial flexibility for dividends, buybacks, and strategic investments. Strong liquidity with a 3.41x current ratio provides a solid financial cushion.
AM Profit Margin, ROE & Profitability Analysis
AM vs Energy Sector: How Antero Midstream Corp Compares
How Antero Midstream Corp compares to Energy sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Antero Midstream Corp Stock Overvalued? AM Valuation Analysis 2026
Based on fundamental analysis, Antero Midstream Corp has mixed fundamental signals relative to the Energy sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Antero Midstream Corp Balance Sheet: AM Debt, Cash & Liquidity
AM Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Antero Midstream Corp's revenue has grown significantly by 32% over the 5-year period, indicating strong business expansion. The most recent EPS of $0.77 reflects profitable operations.
AM Revenue Growth, EPS Growth & YoY Performance
AM Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $269.9M | $86.0M | $0.21 |
| Q2 2025 | $269.8M | $86.0M | $0.18 |
| Q1 2025 | $279.1M | $103.9M | $0.21 |
| Q3 2024 | $263.8M | $86.0M | $0.20 |
| Q2 2024 | $258.3M | $86.0M | $0.18 |
| Q1 2024 | $259.5M | $86.5M | $0.18 |
| Q3 2023 | $231.0M | $79.4M | $0.17 |
| Q2 2023 | $228.9M | $79.4M | $0.17 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Antero Midstream Corp Dividends, Buybacks & Capital Allocation
AM SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Antero Midstream Corp (CIK: 0001623925)
📋 Recent SEC Filings
| Date | Form | Document | Action |
|---|---|---|---|
| Apr 14, 2026 | 4 | xslF345X06/tm2611722-8_4seq1.xml | View → |
| Apr 14, 2026 | 4 | xslF345X06/tm2611722-7_4seq1.xml | View → |
| Apr 14, 2026 | 4 | xslF345X06/tm2611722-6_4seq1.xml | View → |
| Apr 14, 2026 | 4 | xslF345X06/tm2611722-5_4seq1.xml | View → |
| Apr 14, 2026 | 4 | xslF345X06/tm2611722-4_4seq1.xml | View → |
❓ Frequently Asked Questions about AM
What is the AI rating for AM?
Antero Midstream Corp (AM) has a Combined AI Rating of BUY from Claude (STRONG BUY) and ChatGPT (BUY) with 80% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are AM's key strengths?
Claude: Exceptional operating margin of 54.2% and net margin of 34.7% indicating pricing power and operational efficiency. Outstanding free cash flow generation of $862.5M with 72.6% FCF margin demonstrates high-quality earnings conversion. ChatGPT: Exceptional free cash flow generation with $862.47M of FCF and a 72.6% FCF margin. Strong profitability profile with 54.2% operating margin, 34.7% net margin, and 20.9% ROE.
What are the risks of investing in AM?
Claude: High financial leverage with debt-to-equity ratio of 1.63x limits financial flexibility despite strong cash generation. Long-term debt of $3.2B represents 62% of total assets, creating refinancing and interest rate exposure. ChatGPT: Leverage remains elevated with $3.22B of long-term debt and 1.63x debt-to-equity. Net income was essentially flat year over year, indicating limited bottom-line growth despite revenue gains.
What is AM's revenue and growth?
Antero Midstream Corp reported revenue of $1.2B.
Does AM pay dividends?
Antero Midstream Corp pays dividends, with $439.0M distributed to shareholders in the trailing twelve months.
Where can I find AM SEC filings?
Official SEC filings for Antero Midstream Corp (CIK: 0001623925) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is AM's EPS?
Antero Midstream Corp has a diluted EPS of $0.86.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is AM a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Antero Midstream Corp has a BUY rating with 80% confidence. The AI analysis suggests favorable fundamentals based on SEC filings. This is not investment advice.
Is AM stock overvalued or undervalued?
Valuation metrics for AM: ROE of 20.9% (sector avg: 14%), net margin of 34.7% (sector avg: 12%). Higher ROE suggests strong returns relative to peers.
Should I buy AM stock in 2026?
Our dual AI analysis gives Antero Midstream Corp a combined BUY rating for 2026. Revenue is data pending, with profitability above sector average. Always conduct your own research.
What is AM's free cash flow?
Antero Midstream Corp's operating cash flow is $932.5M, with capital expenditures of $70.0M. FCF margin is 72.6%.
How does AM compare to other Energy stocks?
Vs Energy sector averages: Net margin 34.7% (avg: 12%), ROE 20.9% (avg: 14%), current ratio 3.41 (avg: 1.3).
Is Antero Midstream Corp carrying too much debt?
AM has a debt-to-equity ratio of 1.63x, which is above the Energy sector average of 0.6x. However, the current ratio of 3.41 suggests adequate short-term liquidity.