Antero Midstream Corp
NYSE:AM

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Antero Midstream Corp
NYSE:AM
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Price: 20.61 USD -1.29% Market Closed
Market Cap: $9.8B

EV/EBIT

17.5
Current
12%
More Expensive
vs 3-y average of 15.7

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

EV/EBIT
17.5
=
Enterprise Value
$13.9B
/
EBIT
$732.3m

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

EV/EBIT
17.5
=
Enterprise Value
$13.9B
/
EBIT
$732.3m

Valuation Scenarios

Antero Midstream Corp is trading above its 3-year average

If EV/EBIT returns to its 3-Year Average (15.7), the stock would be worth $18.46 (10% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-31%
Maximum Upside
+12%
Average Downside
11%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 17.5 $20.61
0%
3-Year Average 15.7 $18.46
-10%
5-Year Average 14.6 $17.19
-17%
Industry Average 12.1 $14.21
-31%
Country Average 19.6 $23.11
+12%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
$13.9B
/
Jan 2026
$732.3m
=
17.5
Current
$13.9B
/
Dec 2026
$971.2m
=
14.3
Forward
$13.9B
/
Dec 2027
$1.1B
=
13.2
Forward
$13.9B
/
Dec 2028
$1.1B
=
12.2
Forward

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

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
US
Antero Midstream Corp
NYSE:AM
9.8B USD 17.5 23.7
CA
Enbridge Inc
TSX:ENB
155.6B CAD 22.5 21.9
US
Williams Companies Inc
NYSE:WMB
86.1B USD 25.9 32.9
US
Enterprise Products Partners LP
NYSE:EPD
80.4B USD 16.2 14
US
Kinder Morgan Inc
NYSE:KMI
70.2B USD 21.3 23.1
US
Energy Transfer LP
NYSE:ET
65.2B USD 14.2 15.6
CA
TC Energy Corp
TSX:TRP
86.4B CAD 21 25.1
US
MPLX LP
NYSE:MPLX
56.5B USD 13.2 11.5
US
Cheniere Energy Inc
NYSE:LNG
54.2B USD 8.4 10.2
US
ONEOK Inc
NYSE:OKE
53.3B USD 14.6 15.7
US
Targa Resources Corp
NYSE:TRGP
49.9B USD 20 27.1
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
US
Antero Midstream Corp
NYSE:AM
Average EV/EBIT: 17.7
17.5
16%
1.1
CA
Enbridge Inc
TSX:ENB
22.5
8%
2.8
US
Williams Companies Inc
NYSE:WMB
25.9
14%
1.8
US
Enterprise Products Partners LP
NYSE:EPD
16.2
9%
1.8
US
Kinder Morgan Inc
NYSE:KMI
21.3
8%
2.7
US
Energy Transfer LP
NYSE:ET
14.2
10%
1.4
CA
TC Energy Corp
TSX:TRP
21
12%
1.8
US
MPLX LP
NYSE:MPLX
13.2
4%
3.3
US
Cheniere Energy Inc
NYSE:LNG
8.4
-12%
N/A
US
ONEOK Inc
NYSE:OKE
14.6
6%
2.4
US
Targa Resources Corp
NYSE:TRGP
20
11%
1.8

Market Distribution

In line with most companies in the United States of America
Percentile
43nd
Based on 8 638 companies
43nd percentile
17.5
Low
0 — 13.6
Typical Range
13.6 — 27.8
High
27.8 —
Distribution Statistics
the United States of America
Min 0
30th Percentile 13.6
Median 19.6
70th Percentile 27.8
Max 1 826 183.2

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 9%
Intrinsic Value
Price $20.61
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