Skip to content
Forensic Analysis · Midstream Pipelines · as of Nov 9, 2026

Antero Midstream Corp (AM)

A forensic read on Antero Midstream Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable
Forensic grade
Grey Zone
Financial health
1.6
Distress distance
Clean
Earnings quality
2
Forensic signals
20.2%
ROE
7.4%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Antero Midstream Corp earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 1.6, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

8.4%
FY2025
Return on invested capital. Return on invested capital is 8.4% in the latest fiscal year and steady across FY2023–FY2025, inside a 0.5-point range. After-tax operating profit was $455M in FY2023 and $472M in FY2025, with operating income at 58.7% of revenue in FY2023, 59.6% in FY2024 and 54.2% in FY2025. The capital base behind it went from $5.6B in FY2023 to $5.6B in FY2025 (0%), while the revenue it carried went from $1.0B to $1.2B.
62% of OCF
FY2025
Shareholder returns. Returned $574M to shareholders (buybacks + dividends) in FY2025 — 62% of operating cash flow. Capex isn't disclosed for FY2025, so this is the ceiling on coverage, not the free-cash-flow payout — actual free-cash coverage is tighter than this reads.

Key fundamentals

Latest Revenue$1.19B
Revenue Growth YoY+7.4%
Revenue CAGR (2yr)+6.8%
Net Margin34.8%
Return on Equity20.2%
Debt / Equity1.63x

The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Antero Midstream Corp's actual 10-K/10-Q/8-K filings?

Generate the AI investment read →

No credit card · informational only, not investment advice · see the track record

← Browse all forensic stock analyses

Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

See a wrong number? Report an error with the filing it should match.