Antero Midstream Corp
NYSE:AM

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Antero Midstream Corp
NYSE:AM
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Price: 20.88 USD -1.93% Market Closed
Market Cap: $9.9B

EV/EBITDA

13.8
Current
16%
More Expensive
vs 3-y average of 11.9

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
13.8
=
Enterprise Value
$13.9B
/
EBITDA
$937.3m

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
13.8
=
Enterprise Value
$13.9B
/
EBITDA
$937.3m

Valuation Scenarios

Antero Midstream Corp is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (11.9), the stock would be worth $17.93 (14% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-46%
Maximum Upside
+4%
Average Downside
20%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 13.8 $20.88
0%
3-Year Average 11.9 $17.93
-14%
5-Year Average 10.7 $16.21
-22%
Industry Average 7.5 $11.28
-46%
Country Average 14.4 $21.71
+4%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
$13.9B
/
Jan 2026
$937.3m
=
13.8
Current
$13.9B
/
Dec 2026
$1.3B
=
11.1
Forward
$13.9B
/
Dec 2027
$1.3B
=
10.3
Forward
$13.9B
/
Dec 2028
$1.4B
=
9.9
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
US
Antero Midstream Corp
NYSE:AM
9.9B USD 13.8 24
CA
Enbridge Inc
TSX:ENB
157.3B CAD 15 22
US
Williams Companies Inc
NYSE:WMB
86.7B USD 17 33.1
US
Enterprise Products Partners LP
NYSE:EPD
79.8B USD 11.8 13.9
US
Kinder Morgan Inc
NYSE:KMI
71.1B USD 14.2 23.3
US
Energy Transfer LP
NYSE:ET
65.1B USD 8.8 15.6
CA
TC Energy Corp
TSX:TRP
86.3B CAD 15 25.4
US
MPLX LP
NYSE:MPLX
56.7B USD 10.8 11.6
US
Cheniere Energy Inc
NYSE:LNG
53B USD 7.2 10
US
ONEOK Inc
NYSE:OKE
52.8B USD 11.5 15.5
US
Targa Resources Corp
NYSE:TRGP
49.7B USD 13.7 27
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
US
Antero Midstream Corp
NYSE:AM
Average EV/EBITDA: 12.6
13.8
14%
1
CA
Enbridge Inc
TSX:ENB
15
11%
1.4
US
Williams Companies Inc
NYSE:WMB
17
16%
1.1
US
Enterprise Products Partners LP
NYSE:EPD
11.8
7%
1.7
US
Kinder Morgan Inc
NYSE:KMI
14.2
10%
1.4
US
Energy Transfer LP
NYSE:ET
8.8
9%
1
CA
TC Energy Corp
TSX:TRP
15
11%
1.4
US
MPLX LP
NYSE:MPLX
10.8
5%
2.2
US
Cheniere Energy Inc
NYSE:LNG
7.2
-10%
N/A
US
ONEOK Inc
NYSE:OKE
11.5
7%
1.6
US
Targa Resources Corp
NYSE:TRGP
13.7
12%
1.1

Market Distribution

In line with most companies in the United States of America
Percentile
48th
Based on 9 875 companies
48th percentile
13.8
Low
0 — 10
Typical Range
10 — 21.5
High
21.5 —
Distribution Statistics
the United States of America
Min 0
30th Percentile 10
Median 14.4
70th Percentile 21.5
Max 1 767 274.1

Antero Midstream Corp
Glance View

In the bustling world of energy infrastructure, Antero Midstream Corp. has carved out a crucial niche for itself, operating at the heart of the natural gas value chain. The company emerged as a key partner to Antero Resources, anchoring its business model on gathering and processing services in the prolific Appalachian Basin. By focusing on transporting hydrocarbons from the wellhead to larger pipeline systems, Antero Midstream ensures the vital flow of natural gas and natural gas liquids (NGLs). Its strategically located assets allow it to efficiently gather, compress, and process the natural gas, ultimately delivering it to market hubs where it can be further distributed or stored—a testament to its integral role in the energy supply ecosystem. Financially, Antero Midstream thrives on the cash flow stability that comes from long-term, fee-based contracts. This model shields the company from the volatility often associated with commodity prices. Its revenue streams are diversified across water handling and treatment services, crucial for the hydraulic fracturing process. The company’s dedication to environmental stewardship has also seen it increasingly focus on sustainable water management solutions, a move that not only enhances its operational efficiency but also strengthens its ESG credentials. By aligning its operations with the evolving regulatory and environmental landscape, Antero Midstream positions itself as a forward-thinking player in the midstream sector, committed to both growth and sustainability.

AM Intrinsic Value
18.74 USD
Overvaluation 10%
Intrinsic Value
Price $20.88
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