Fact based stock research
Antero Midstream (NYSE:AM)

US03676B1026

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

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Antero Midstream stock research in summary

anteromidstream.com

ANALYSIS: With an Obermatt Combined Rank of 30 (worse than 70% compared with investment alternatives), Antero Midstream (Oil & Gas Transportation, USA) shares have somewhat below-average financial characteristics compared with similar stocks. Shares of Antero Midstream are low in value (priced high) with a consolidated Value Rank of 23 (worse than 77% of alternatives) and show below-average growth (Growth Rank of 43) but are safely financed (Safety Rank of 58), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 30, is a hold recommendation based on Antero Midstream's financial characteristics. As the company Antero Midstream's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 23) and low growth (Obermatt Growth Rank of 43), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 58) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	23
Growth Rank	43
Safety Rank	58
Combined Rank	30

Country	USA
Industry	Oil & Gas Transportation
Index	Dividends USA, S&P MIDCAP
Size class	Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Antero Midstream

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	37	20	25	23
GROWTH
GROWTH	23	85	35	43
SAFETY
SAFETY	81	28	50	58
SENTIMENT
SENTIMENT	25	27	15	^new
360° VIEW
360° VIEW	29	27	11	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Antero Midstream is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	37	20	25	23
GROWTH
GROWTH	23	85	35	43
SAFETY
SAFETY	81	28	50	58
COMBINED
COMBINED	43	43	22	30

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Antero Midstream the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 23 (worse than 77% compared with alternatives), Antero Midstream shares are significantly more expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators below average for Antero Midstream. Only the metric dividend yield has an above-average rank, reflecting that dividend practices are expected to be higher than 68% of comparable companies, making the stock an attractive buy for dividend investors. However, dividend investors may get disappointed because all other critical financial indicators are below the market median: Price-to-Sales is 9 which means that the stock price compared with what market professionals expect for future profits is higher than 91% of comparable companies, indicating a low value concerning Antero Midstream's sales levels. The same is valid for Price-to-Profit (also referred to as price-earnings, P/E) with a rank of 42 which means that the stock price compared with what market professionals expect for future profit levels is higher than 58% of comparable companies. In addition, Price-to-Book (also referred to as market-to-book ratio) with a Price-to-Book Rank of 13 is also low. Compared with invested capital, the stock price is higher than for 87% of comparable investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 23, is a sell recommendation based on Antero Midstream's stock price compared with the company's operational size and dividend yields. Should dividend investors pick Antero Midstream? The company-reported financials speak against it. The company is expensive compared with revenue and invested capital levels, two reliable company size indicators. In addition, it currently has a low level of profits. How can future dividends be paid in the case that profits remain low? Dividend investors should choose Antero Midstream only if they reasonably expect the low current profit levels to be transitory. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	10	10	7	9
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	46	31	37	42
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	47	20	15	13
DIVIDEND YIELD
DIVIDEND YIELD	81	75	75	68
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	37	20	25	23

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Antero Midstream; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 43 (better than 43% compared with alternatives), Antero Midstream shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Antero Midstream. Profit Growth has a rank of 66, which means that currently professionals expect the company to grow its profits more than 66% of its competitors. This is a good sign for shareholders, which is confirmed by an above-average Stock Returns rank of 75 (above 75% of alternative investments). But Sales Growth has a below the median rank of 44, which means that, currently, professionals expect the company to grow less than 56% of its competitors, and Capital Growth also has a lower rank of 4. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 43, is a hold recommendation for growth and momentum investors. Because revenues and invested capital are the more solid growth indicators, the positive development on the profit side is less relevant. It may have been caused by cost-cutting, which may be a negative growth indicator. Finally, the above-average stock returns recently are a thing of the past and not a good indicator of future returns. Investors should be confident that the cost-cutting initiative leading to higher profits is to benefit the company's future. If not, there is little growth momentum, and investment is only advisable if the Value Ranks suggest a good investment timing for Antero Midstream. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	22	63	26	44
PROFIT GROWTH
PROFIT GROWTH	70	72	76	66
CAPITAL GROWTH
CAPITAL GROWTH	10	67	12	4
STOCK RETURNS
STOCK RETURNS	39	79	75	75
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	23	85	35	43

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Antero Midstream.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 58 (better than 58% compared with alternatives), the company Antero Midstream has financing practices on the safer side, which mean that their overall debt burden is lower than average. This doesn't mean that the business of Antero Midstream is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above-average for Antero Midstream. Refinancing is at 54, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 54% of its competitors. Liquidity is also good at 61, meaning the company generates more profit to service its debt than 61% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 34, which means the company has an above-average debt-to-equity ratio. It has more debt than 66% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 58 (better than 58% compared with alternatives), Antero Midstream has a financing structure that is safer than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and Antero Midstream could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a debt challenge with Antero Midstream and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	45	28	33	34
REFINANCING
REFINANCING	51	50	54	54
LIQUIDITY
LIQUIDITY	85	24	42	61
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	81	28	50	58

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Antero Midstream and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	5	2	^new
OPINIONS CHANGE
OPINIONS CHANGE	37	50	38	^new
PRO HOLDINGS
PRO HOLDINGS	89	58	82	^new
MARKET PULSE
MARKET PULSE	18	46	34	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	25	27	15	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Antero Midstream.
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