Seven criteria, each scored 0 to 100 on a published scale, weighted into one number.
50/100RyuScore 50 out of 100, Average
50
Today's price. Only valuation depends on it.
-50%-40%-30%-20%-10%today+10%+20%+30%
Average. Antero Midstream Corporation scores higher than 50% of the 1,794 companies Ryufin scores.
Carried by return on new capital and capital allocation, held back by valuation and return on capital.
Energy median 60 · all companies 50
Valuation
26% of the score
18median 13
Antero Midstream Corporation is valued at 22x its operating profit, including debt: a rich multiple.
25x
20x
15x
10x
6x
22x
Full points at 6x or less, none from 25xfull points
Return on capital
18% of the score
20median 34
Over 7 years the business earned 4.6% a year after tax on the capital it uses.
2%
8%
15%
25%
4.6%
None at 2% or less, full points from 25%full points
Return on capital by year
7 years agolatest 8.4%
Return on new capital
16% of the score
100median 49
For every dollar of operating profit earned over 6 years, yearly profit grew by 15 cents. New capital earned 215%, and 6.9% of profit went back into the business.
-5%
12%
15%
None at minus 5 cents, full points from 12 centsfull points
Capital allocation
14% of the score
76median 64
How management spends the money: shares bought back or issued, and whether assets grow faster than the business they serve.
Share countUp 0.2% a year over 5 years: new shares
61
5%
-3%
0.2%
0 pointsfull points
Assets against salesAssets grew 1% a year, sales 5.7%
100
12%
-2%
-4.7%
0 pointsfull points
Cycle position
12% of the score
75median 62
Today's operating margin of 53% is 0.91x its normal 58%: close to its usual level. Normal is half the 10 year median, half the last four years, so a margin that has held is not taken for a peak.
2x
1.5x
1x
0.7x
0.9x
A trough earns points, a peak costs themfull points
Operating margin by year, against its normal level
10 years agonow 53%
Balance sheet
8% of the score
0median 50
What the debt weighs against the profit that has to carry it.
Net debt to EBITDA4.5x a year of EBITDA
0
4.5x
0.5x
4.5x
0 pointsfull points
Earnings quality
6% of the score
100median 90
Whether the reported profit arrives as cash, and whether the accounts show the usual signs of stretching.
Cash against profitOperating cash flow was 2.15x profit over 3 years
100
0.7x
1x
1.3x
2.2x
0 pointsfull points
AccrualsCash ran ahead of profit by 8.9% of assets
100
8%
0%
-8%
-8.9%
0 pointsfull points
How the RyuScore works
Each criterion earns 0 to 100 points on the scale drawn under it, and the RyuScore is their average weighted 26, 18, 16, 14, 12, 8 and 6. Scales bend in the company's favour between their ends, so an ordinary figure is never already near zero. Where a criterion cannot be measured from the filings it is taken out and the remaining weights scale up; a company needs 60% of the weight covered, and always a price, to get a score.
Built from the company's annual and quarterly filings with the SEC and today's share price. Banks, insurers and property trusts are not scored: their debt is their raw material, so these yardsticks mean something else there. Figures as of 2026-06-30, latest annual report FY2025.