What is Antero Midstream Corp's earnings per share (EPS)?

Antero Midstream Corp (AM) reported diluted earnings per share of $0.86 for fiscal year 2025. This represents a 3.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Antero Midstream Corp Financials

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Antero Midstream Corp (AM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 68/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Antero Midstream Corp has an operating margin of 54.3%, meaning the company retains $54 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 59.6% the prior year.

Growth

Antero Midstream Corp's revenue grew 7.4% year-over-year to $1.2B, a solid pace of expansion. This earns a growth score of 46/100.

Leverage

Antero Midstream Corp carries a low D/E ratio of 1.63, meaning only $1.63 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 69/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 3.41, Antero Midstream Corp holds $3.41 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 66/100.

Returns

Antero Midstream Corp's ROE of 20.9% shows moderate profitability relative to equity, earning a score of 58/100. This is up from 18.9% the prior year.

Altman Z-Score Grey Zone

2.26

Antero Midstream Corp scores 2.26, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($10.7B) relative to total liabilities ($3.9B). This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Strong

7/9

Antero Midstream Corp passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.26x

For every $1 of reported earnings, Antero Midstream Corp generates $2.26 in operating cash flow ($932.5M OCF vs $413.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.2B

YoY+7.4%

5Y CAGR+5.7%

10Y CAGR+98.3%

Antero Midstream Corp generated $1.2B in revenue in fiscal year 2025. This represents an increase of 7.4% from the prior year.

EBITDA

$849.7M

YoY-2.3%

Antero Midstream Corp's EBITDA was $849.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 2.3% from the prior year.

Net Income

$413.2M

YoY+3.1%

10Y CAGR+87.2%

Antero Midstream Corp reported $413.2M in net income in fiscal year 2025. This represents an increase of 3.1% from the prior year.

EPS (Diluted)

$0.86

YoY+3.6%

Antero Midstream Corp earned $0.86 per diluted share (EPS) in fiscal year 2025. This represents an increase of 3.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$180.4M

5Y CAGR+209.0%

10Y CAGR+118.7%

Antero Midstream Corp held $180.4M in cash against $3.2B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

473M

YoY-1.2%

5Y CAGR-0.2%

Antero Midstream Corp had 473M shares outstanding in fiscal year 2025. This represents a decrease of 1.2% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

54.3%

YoY-5.3pp

5Y CAGR+67.3pp

Antero Midstream Corp's operating margin was 54.3% in fiscal year 2025, reflecting core business profitability. This is down 5.3 percentage points from the prior year.

Net Margin

34.8%

YoY-1.5pp

5Y CAGR+48.4pp

10Y CAGR-27.0pp

Antero Midstream Corp's net profit margin was 34.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.5 percentage points from the prior year.

Return on Equity

20.9%

YoY+2.0pp

5Y CAGR+26.0pp

Antero Midstream Corp's ROE was 20.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$135.0M

YoY+370.5%

5Y CAGR+40.4%

Antero Midstream Corp spent $135.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 370.5% from the prior year.

Capital Expenditures

N/A

AM Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.2B+7.4%	$1.1B+6.2%	$1.0B+13.2%	$920.0M+2.4%	$898.2M-0.3%	$900.7M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$87.9M+2.1%	$86.1M+21.1%	$71.1M+14.4%	$62.1M-2.7%	$63.8M+22.3%	$52.2M
Operating Income	$644.7M-2.2%	$659.2M+7.7%	$611.9M+13.4%	$539.5M-2.9%	$555.3M+572.1%	-$117.6M
Interest Expense	N/A	N/A	-$217.2M-14.4%	-$189.9M-8.4%	-$175.3M-19.2%	-$147.0M
Income Tax	$151.0M+2.2%	$147.7M+15.2%	$128.3M+9.2%	$117.5M+0.3%	$117.1M+310.3%	-$55.7M
Net Income	$413.2M+3.1%	$400.9M+7.8%	$371.8M+14.0%	$326.2M-1.6%	$331.6M+370.6%	-$122.5M
EPS (Diluted)	$0.86+3.6%	$0.83+7.8%	$0.77+13.2%	$0.68-1.4%	$0.69+365.4%	$-0.26

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$297.0M+0.7%	$294.8M-3.5%	$305.5M+4.9%	$291.1M+1.3%	$287.5M+6.5%	$269.9M0.0%	$269.8M-3.3%	$279.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$21.5M+0.7%	$21.3M-3.7%	$22.1M-3.9%	$23.0M+10.8%	$20.8M-9.2%	$22.9M+7.8%	$21.2M0.0%	$21.2M
Operating Income	$100.5M-44.3%	$180.5M-3.2%	$186.4M+5.2%	$177.2M-0.3%	$177.7M+9.4%	$162.4M+6.3%	$152.8M-8.1%	$166.3M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$53.3M
Income Tax	$25.3M-44.7%	$45.7M+3.9%	$44.0M+21.9%	$36.1M-19.1%	$44.6M+16.8%	$38.2M+34.3%	$28.4M-22.1%	$36.5M
Net Income	$51.9M-55.2%	$116.0M-6.8%	$124.5M+3.1%	$120.7M+8.6%	$111.2M+11.5%	$99.7M+15.9%	$86.0M-17.2%	$103.9M
EPS (Diluted)	N/A	$0.24-7.7%	$0.26+4.0%	$0.25	N/A	$0.21+16.7%	$0.18-14.3%	$0.21

AM Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$5.9B+2.1%	$5.8B+0.4%	$5.7B-0.9%	$5.8B+4.5%	$5.5B-1.2%	$5.6B
Current Assets	$379.9M+221.7%	$118.1M+29.6%	$91.1M+2.4%	$89.0M+6.2%	$83.8M-10.8%	$93.9M
Cash & Equivalents	$180.4M	N/A	$66K	$0	N/A	$640K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	$575K-23.0%	$747K-11.0%	$839K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.9B+7.3%	$3.6B+1.7%	$3.6B-0.4%	$3.6B+10.5%	$3.3B+2.0%	$3.2B
Current Liabilities	$111.5M+10.8%	$100.6M+4.4%	$96.4M-5.5%	$102.1M-10.5%	$114.0M+21.3%	$94.0M
Long-Term Debt	$3.2B+3.4%	$3.1B-3.0%	$3.2B-4.4%	$3.4B+7.6%	$3.1B+1.0%	$3.1B
Total Equity	$2.0B-6.8%	$2.1B-1.7%	$2.2B-1.9%	$2.2B-4.1%	$2.3B-5.4%	$2.4B
Retained Earnings	$14.8M-83.7%	$90.5M-9.9%	$100.4M+21.3%	$82.8M+162.5%	-$132.5M+71.5%	-$464.1M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$5.9B+2.9%	$5.7B-0.2%	$5.7B-0.4%	$5.8B-0.2%	$5.8B-0.3%	$5.8B0.0%	$5.8B+0.4%	$5.7B
Current Assets	$379.9M+235.1%	$113.4M-1.0%	$114.5M-10.3%	$127.7M+8.1%	$118.1M+18.2%	$99.9M-3.6%	$103.6M-22.5%	$133.7M
Cash & Equivalents	$180.4M	$0	$0	$0	N/A	$0	$0-100.0%	$26.1M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.9B+7.1%	$3.7B+0.3%	$3.6B-0.7%	$3.7B+0.5%	$3.6B0.0%	$3.6B0.0%	$3.6B+1.4%	$3.6B
Current Liabilities	$111.5M+23.8%	$90.0M-19.0%	$111.2M+23.3%	$90.2M-10.4%	$100.6M+9.9%	$91.5M-21.1%	$116.0M+8.1%	$107.3M
Long-Term Debt	$3.2B+7.1%	$3.0B-0.5%	$3.0B-2.8%	$3.1B-0.2%	$3.1B-1.7%	$3.2B-0.5%	$3.2B+0.4%	$3.2B
Total Equity	$2.0B-4.5%	$2.1B-1.1%	$2.1B-0.1%	$2.1B-1.3%	$2.1B-0.7%	$2.1B+0.1%	$2.1B-1.1%	$2.2B
Retained Earnings	$14.8M-83.3%	$88.3M-21.1%	$111.8M+12.5%	$99.4M+9.7%	$90.5M-9.2%	$99.7M+15.9%	$86.0M-17.2%	$103.9M

AM Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$932.5M+10.5%	$844.0M+8.3%	$779.1M+11.4%	$699.6M-1.4%	$709.8M-5.8%	$753.4M
Capital Expenditures	N/A	$70.0M+26212.8%	$266K-99.9%	$216.7M	N/A	$157.9M
Free Cash Flow	N/A	$774.0M-0.6%	$778.8M+61.3%	$482.9M	N/A	$595.5M
Investing Cash Flow	-$169.2M+30.3%	-$242.7M-32.5%	-$183.2M+62.9%	-$493.8M-111.7%	-$233.2M-6.4%	-$219.2M
Financing Cash Flow	-$500.3M+16.8%	-$601.3M-0.9%	-$595.8M-189.5%	-$205.8M+56.9%	-$477.1M+10.8%	-$534.7M
Dividends Paid	$439.0M+0.3%	$437.6M+0.6%	$434.8M+0.5%	$432.8M-8.1%	$471.2M-20.1%	$589.6M
Share Buybacks	$135.0M+370.5%	$28.7M	N/A	N/A	N/A	$24.7M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$255.5M+20.0%	$212.8M-19.7%	$265.2M+33.3%	$198.9M-14.5%	$232.7M+25.8%	$184.9M-14.3%	$215.8M+2.5%	$210.6M
Capital Expenditures	N/A	N/A	N/A	N/A	$0+100.0%	-$642K-100.9%	$68.6M+3248.9%	$2.0M
Free Cash Flow	N/A	N/A	N/A	N/A	$232.7M+26.3%	$184.3M+25.2%	$147.2M-29.4%	$208.5M
Investing Cash Flow	-$50.0M-6.5%	-$46.9M-17.1%	-$40.1M-24.1%	-$32.3M+18.6%	-$39.7M+27.4%	-$54.7M+50.9%	-$111.3M-199.8%	-$37.1M
Financing Cash Flow	$57.4M+134.6%	-$165.9M+26.3%	-$225.1M-35.1%	-$166.7M+13.7%	-$193.0M-48.2%	-$130.3M+0.2%	-$130.6M+11.4%	-$147.4M
Dividends Paid	$107.2M-0.5%	$107.7M-3.4%	$111.5M-1.0%	$112.6M+3.9%	$108.4M-0.1%	$108.5M-3.8%	$112.8M+4.5%	$107.9M
Share Buybacks	$48.3M+16.9%	$41.3M+146.4%	$16.8M-41.3%	$28.6M	N/A	N/A	N/A	N/A

AM Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	54.3%-5.3pp	59.6%+0.9pp	58.7%+0.1pp	58.6%-3.2pp	61.8%+74.9pp	-13.1%
Net Margin	34.8%-1.5pp	36.2%+0.6pp	35.7%+0.2pp	35.5%-1.5pp	36.9%+50.5pp	-13.6%
Return on Equity	20.9%+2.0pp	18.9%+1.7pp	17.3%+2.4pp	14.9%+0.4pp	14.5%+19.6pp	-5.1%
Return on Assets	7.0%+0.1pp	7.0%+0.5pp	6.5%+0.8pp	5.6%-0.3pp	6.0%+8.2pp	-2.2%
Current Ratio	3.41+2.2	1.17+0.2	0.95+0.1	0.87+0.1	0.74-0.3	1.00
Debt-to-Equity	1.63+0.2	1.47-0.0	1.49-0.0	1.53+0.2	1.37+0.1	1.28
FCF Margin	N/A	70.0%-4.8pp	74.8%+22.3pp	52.5%	N/A	66.1%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	33.8%-27.4pp	61.2%+0.2pp	61.0%+0.2pp	60.9%-1.0pp	61.8%+1.6pp	60.2%+3.6pp	56.6%-3.0pp	59.6%
Net Margin	17.5%-21.9pp	39.3%-1.4pp	40.8%-0.7pp	41.5%+2.8pp	38.7%+1.7pp	37.0%+5.1pp	31.9%-5.3pp	37.2%
Return on Equity	2.6%-3.0pp	5.6%-0.4pp	6.0%+0.2pp	5.8%+0.5pp	5.3%+0.6pp	4.7%+0.6pp	4.0%-0.8pp	4.8%
Return on Assets	0.9%-1.1pp	2.0%-0.1pp	2.2%+0.1pp	2.1%+0.2pp	1.9%+0.2pp	1.7%+0.2pp	1.5%-0.3pp	1.8%
Current Ratio	3.41+2.1	1.26+0.2	1.03-0.4	1.42+0.2	1.17+0.1	1.09+0.2	0.89-0.4	1.25
Debt-to-Equity	1.63+0.2	1.460.0	1.45-0.0	1.49+0.0	1.47-0.0	1.490.0	1.50+0.0	1.48
FCF Margin	N/A	N/A	N/A	N/A	80.9%+12.7pp	68.3%+13.7pp	54.6%-20.2pp	74.7%

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Frequently Asked Questions

What is Antero Midstream Corp's annual revenue?

Antero Midstream Corp (AM) reported $1.2B in total revenue for fiscal year 2025. This represents a 7.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Antero Midstream Corp's revenue growing?

Antero Midstream Corp (AM) revenue grew by 7.4% year-over-year, from $1.1B to $1.2B in fiscal year 2025.

Is Antero Midstream Corp profitable?

Yes, Antero Midstream Corp (AM) reported a net income of $413.2M in fiscal year 2025, with a net profit margin of 34.8%.

What is Antero Midstream Corp's EBITDA?

Antero Midstream Corp (AM) had EBITDA of $849.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Antero Midstream Corp have?

As of fiscal year 2025, Antero Midstream Corp (AM) had $180.4M in cash and equivalents against $3.2B in long-term debt.

What is Antero Midstream Corp's operating margin?

Antero Midstream Corp (AM) had an operating margin of 54.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Antero Midstream Corp's net profit margin?

Antero Midstream Corp (AM) had a net profit margin of 34.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Antero Midstream Corp's return on equity (ROE)?

Antero Midstream Corp (AM) has a return on equity of 20.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Antero Midstream Corp's operating cash flow?

Antero Midstream Corp (AM) generated $932.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Antero Midstream Corp's total assets?

Antero Midstream Corp (AM) had $5.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Antero Midstream Corp buy back shares?

Yes, Antero Midstream Corp (AM) spent $135.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Antero Midstream Corp have outstanding?

Antero Midstream Corp (AM) had 473M shares outstanding as of fiscal year 2025.

What is Antero Midstream Corp's current ratio?

Antero Midstream Corp (AM) had a current ratio of 3.41 as of fiscal year 2025, which is generally considered healthy.

What is Antero Midstream Corp's debt-to-equity ratio?

Antero Midstream Corp (AM) had a debt-to-equity ratio of 1.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Antero Midstream Corp's return on assets (ROA)?

Antero Midstream Corp (AM) had a return on assets of 7.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Antero Midstream Corp's Altman Z-Score?

Antero Midstream Corp (AM) has an Altman Z-Score of 2.26, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Antero Midstream Corp's Piotroski F-Score?

Antero Midstream Corp (AM) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Antero Midstream Corp's earnings high quality?

Antero Midstream Corp (AM) has an earnings quality ratio of 2.26x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Antero Midstream Corp?

Antero Midstream Corp (AM) scores 68 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.