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Antero Midstream Corporation
AM · NYSEEnergy
The economic chain
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Raw inputs
Equipment
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AI demand
Fuel &resourcesuranium, gas, coal, acrea…Equipment &servicesturbines, grid gear, rigs…Generation &productionpower plants & wellsGrid, markets& midstreamtransmission, RTOs, pipel…Distribution &takeawaythe wires & pipes that de…Demand &marketsdata centres, homes, refi…H2OWater sourcesEQPConstruction & compression suppliersARAntero ResourcesAMAntero MidstreamMPLXMPLX (MarkWest)PIPInterstate takeaway pipelinesMKTLNG, utilities & end markets
Company details
Market cap
$10.8B
P/E ratio
26×
Div yield
4.0%
EPS (TTM)
$0.86
Profit margin
35%
Rev. growth
+1%
Revenue
$1.19B
Net debt/EBITDA
2.7×
In plain English
Antero Midstream owns the pipes, compressors and water systems that gather, process and move natural gas for one producer — Antero Resources — across the Appalachian Marcellus and Utica shale. It builds no wells of its own; it charges fee-based, minimum-volume-committed tolls on every molecule Antero produces, which is why ~all of its ~$1.19B revenue comes from a single customer that also owns ~29% of it.
In simple terms
What Antero Midstream Corporation really sells
Antero Midstream owns the pipes, compressors and water systems that gather, process and move natural gas for one producer — Antero Resources — across the Appalachian Marcellus and Utica shale. It builds no wells of its own; it charges fee-based, minimum-volume-committed tolls on every molecule Antero produces, which is why ~all of its ~$1.19B revenue comes from a single customer that also owns ~29% of it.
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