Is the business good?
How good a business is AM?
Antero Midstream Corporation earns 9.3% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
9.3%
Return on invested capital · cost of capital 9.0% · 0.34 points above what the capital costs: growth creates value
- Operating margin
- 53%
Operating margin · Oil & Gas Midstream median 36% · 12 months to Q2 2026
- Share count, year on year
- −1.1%
Share count, year on year · bought back, each share owns more of the company
- Gross margin
- 78%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −13% |
| FY2021 | 62% |
| FY2022 | 59% |
| FY2023 | 59% |
| FY2024 | 60% |
| FY2025 | 54% |
Details›
- Gross margin12 months to Q2 2026
- 78%
- Operating margin12 months to Q2 2026
- 53%
- Net margin12 months to Q2 2026
- 32%
- Revenue, trailing twelve months
- $1.23B
- Net income, trailing twelve months
- $400M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 9.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Oil & Gas Midstream
Ranks #11 of 27 by Smart Score