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Antero Midstream Valuation Multiples
Discover revenue and EBITDA valuation multiples for Antero Midstream and similar public comparables like JSW Energy, Copel, Worley, Range Resources and more.
Antero Midstream Overview
About Antero Midstream
Antero Midstream Corp is a midstream company that owns, operates, and develops midstream energy assets that service Antero Resources' production and completion activity in the Appalachian Basin, located in West Virginia and Ohio. The company has two operating segments: the Gathering and Processing segment, which includes a network of gathering pipelines and compressor stations that collect and process production from Antero Resources wells in West Virginia and Ohio, and the Water Handling segment, which includes two independent systems that deliver water from sources including the Ohio River, local reservoirs, and several regional waterways. The company derives a majority of its revenue from the Gathering and Processing segment.
Founded
2013
HQ
Employees
632
Website
Financials (LTM)
EV
$13B
Antero Midstream Financials
Antero Midstream reported last 12-month revenue of $1B and EBITDA of $1B.
In the same LTM period, Antero Midstream generated $987M in gross profit, $1B in EBITDA, and $460M in net income.
Revenue (LTM)
Antero Midstream P&L
In the most recent fiscal year, Antero Midstream reported revenue of $1B and EBITDA of $1B.
Antero Midstream expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $1B | XXX | $1B | XXX | XXX | XXX |
| Gross Profit | $987M | XXX | $822M | XXX | XXX | XXX |
| Gross Margin | 81% | XXX | 65% | XXX | XXX | XXX |
| EBITDA | $1B | XXX | $1B | XXX | XXX | XXX |
| EBITDA Margin | 95% | XXX | 89% | XXX | XXX | XXX |
| EBIT Margin | 70% | XXX | 65% | XXX | XXX | XXX |
| Net Profit | $460M | XXX | $413M | XXX | XXX | XXX |
| Net Margin | 38% | XXX | 33% | XXX | XXX | XXX |
| Net Debt | — | — | $3B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Antero Midstream Stock Performance
Antero Midstream has current market cap of $10B, and enterprise value of $13B.
Market Cap Evolution
Antero Midstream's stock price is $21.24.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $13B | $10B | -0.1% | XXX | XXX | XXX | $0.87 |
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Start Free TrialAntero Midstream Valuation Multiples
Antero Midstream trades at 10.8x EV/Revenue multiple, and 11.4x EV/EBITDA.
EV / Revenue (LTM)
Antero Midstream Financial Valuation Multiples
As of April 17, 2026, Antero Midstream has market cap of $10B and EV of $13B.
Equity research analysts estimate Antero Midstream's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Antero Midstream has a P/E ratio of 21.9x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $10B | XXX | $10B | XXX | XXX | XXX |
| EV (current) | $13B | XXX | $13B | XXX | XXX | XXX |
| EV/Revenue | 10.8x | XXX | 10.4x | XXX | XXX | XXX |
| EV/EBITDA | 11.4x | XXX | 11.6x | XXX | XXX | XXX |
| EV/EBIT | 15.4x | XXX | 16.0x | XXX | XXX | XXX |
| EV/Gross Profit | 13.3x | XXX | 15.9x | XXX | XXX | XXX |
| P/E | 21.9x | XXX | 24.3x | XXX | XXX | XXX |
| EV/FCF | 16.9x | XXX | 17.0x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Antero Midstream Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Antero Midstream Margins & Growth Rates
Antero Midstream's revenue in the last 12 month grew by 7%.
Antero Midstream's revenue per employee in the last FY averaged $2.0M, while opex per employee averaged $0.1M for the same period.
Antero Midstream's rule of 40 is 97% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Antero Midstream's rule of X is 99% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Antero Midstream Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 7% | XXX | 2% | XXX | XXX | XXX |
| EBITDA Margin | 95% | XXX | 89% | XXX | XXX | XXX |
| EBITDA Growth | 8% | XXX | 8% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 97% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 99% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $2.0M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.1M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 3% | XXX | 7% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 7% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Antero Midstream Public Comps
See public comps and valuation multiples for other Energy Infrastructure and Energy Production comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Antero Midstream | XXX | XXX | XXX | XXX | XXX | XXX |
| JSW Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Copel | XXX | XXX | XXX | XXX | XXX | XXX |
| Worley | XXX | XXX | XXX | XXX | XXX | XXX |
| Range Resources | XXX | XXX | XXX | XXX | XXX | XXX |
| COPEC | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Antero Midstream M&A Activity
Antero Midstream acquired XXX companies to date.
Last acquisition by Antero Midstream was on XXXXXXXX, XXXXX. Antero Midstream acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Antero Midstream
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAntero Midstream Investment Activity
Antero Midstream invested in XXX companies to date.
Antero Midstream made its latest investment on XXXXXXXX, XXXXX. Antero Midstream invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Antero Midstream
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Antero Midstream
| When was Antero Midstream founded? | Antero Midstream was founded in 2013. |
| Where is Antero Midstream headquartered? | Antero Midstream is headquartered in United States. |
| How many employees does Antero Midstream have? | As of today, Antero Midstream has over 632 employees. |
| Who is the CEO of Antero Midstream? | Antero Midstream's CEO is Michael N. Kennedy. |
| Is Antero Midstream publicly listed? | Yes, Antero Midstream is a public company listed on NYSE. |
| What is the stock symbol of Antero Midstream? | Antero Midstream trades under AM ticker. |
| When did Antero Midstream go public? | Antero Midstream went public in 2017. |
| Who are competitors of Antero Midstream? | Antero Midstream main competitors are JSW Energy, Copel, Worley, Range Resources. |
| What is the current market cap of Antero Midstream? | Antero Midstream's current market cap is $10B. |
| What is the current revenue of Antero Midstream? | Antero Midstream's last 12 months revenue is $1B. |
| What is the current revenue growth of Antero Midstream? | Antero Midstream revenue growth (NTM/LTM) is 7%. |
| What is the current EV/Revenue multiple of Antero Midstream? | Current revenue multiple of Antero Midstream is 10.8x. |
| Is Antero Midstream profitable? | Yes, Antero Midstream is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Antero Midstream? | Antero Midstream's last 12 months EBITDA is $1B. |
| What is Antero Midstream's EBITDA margin? | Antero Midstream's last 12 months EBITDA margin is 95%. |
| What is the current EV/EBITDA multiple of Antero Midstream? | Current EBITDA multiple of Antero Midstream is 11.4x. |
| What is the current FCF of Antero Midstream? | Antero Midstream's last 12 months FCF is $775M. |
| What is Antero Midstream's FCF margin? | Antero Midstream's last 12 months FCF margin is 64%. |
| What is the current EV/FCF multiple of Antero Midstream? | Current FCF multiple of Antero Midstream is 16.9x. |
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