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AM Financials Antero Midstream Corp

11 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has grown 5.7% per year over the past 5 years.
  • Net income has grown in line with revenue (5.9% vs 5.7% per year).
  • Operating margin has expanded, at 54.2% in the latest year.
  • Free cash flow has grown 26.6% per year over the past 5 years.

Financial health

  • Total debt ($3.2B) exceeds cash ($263M); net debt is $3.0B.
  • Total debt has grown slower than revenue (0.8% vs 5.7% per year).
  • Total debt is 5.0× EBITDA.

Shareholder returns

  • Dividends have been paid for 9 consecutive years, consuming 105.0% of earnings.
  • The dividend has declined 5.7% per year over the past 5 years.
Revenue & net income
$0 $594M $1B 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
-59% 18% 95% 0% 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Free cash flow (CFO − capex)
$0 $389M $779M 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $2B $3B 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$601M $166M $932M $0 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MFCFTotal debtCash
2025 $1.2B $418M 0.0% 54.2% — $3.2B $263M
2024 $1.1B $401M 0.0% 59.6% $774M $3.1B —
2023 $1.0B $372M 0.0% 58.7% $779M $3.2B $66000
2022 $920M $326M 0.0% 58.6% $483M $3.4B $0
2021 $898M $332M 0.0% 61.8% — $3.1B —
2020 $901M — 0.0% -13.1% — $3.1B $640000
2019 $793M — 0.0% -50.3% — $2.9B $1M
2018 $143M — 0.0% -30.7% — — $3M
2017 $70M $5M 0.0% -59.0% — — $6M
2016 $17M $10M 0.0% 95.2% — — $10M
2015 $1M $781000 0.0% 0.0% — — —

Valuation over time

How the market has priced AM against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 13.0 25.9 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/E
Price / sales (P/S)
0.0 4.6 9.1 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
P/S
Dividend yield (%)
0.0 4.5 8.9 Mar '23 Aug '23 Jan '24 Jun '24 Nov '24 Apr '25 Sep '25 Feb '26
Dividend yield %

Frequently asked questions

Is AM growing its revenue and profit?

Over the past 5 years, Antero Midstream Corp's revenue has grown 5.7% per year, and net income grown 5.9% per year. These are computed facts, not advice.

How much debt does AM have?

As of FY2025, Antero Midstream Corp reported $3.2B of total debt against $263M of cash.

What is AM's profit margin?

In FY2025, gross margin was —, operating margin 54.2%, and net margin 35.2%.

What is AM's P/E ratio?

As of Jun '26, Antero Midstream Corp traded at a price-to-earnings ratio of about 25.8× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.