Antero Midstream
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
N/A8.04K647.40505.424.72-9.46-30.0958.7515.8116.2718.634.72
Price/Sales ratio
N/A16.2310.65N/A2.033.953.7919.735.205.436.322.03
Price/Book Value ratio
N/A11.26K612.22-862.2367.761.061.522.022.352.813.413.41
Price/Cash Flow ratio
N/A21.31K16.60130.7425.035.394.896.507.377.768.878.87
Price/Free Cash Flow ratio
N/A-13.89-166.70130.7425.039.466.199.6828.0510.1611.5011.50
Price/Earnings Growth ratio
N/AN/A0.56-19.980.000.070.44-0.360.041.220.180.00
Dividend Yield
N/A0.00%2.90%0.86%4.13%14.76%16.00%10.21%8.39%7.19%5.95%4.13%
Profitability Indicator Ratios
Gross Profit Margin
N/A57.26%55.70%N/A56.59%58.99%64.49%64.01%61.37%80.82%62.96%56.59%
Operating Profit Margin
N/A0.32%-0.13%N/A59.07%49.77%66.43%54.88%54.45%55.00%55.57%55.57%
Pretax Profit Margin
N/A0.32%2.73%N/A56.96%-53.85%-18.34%45.78%44.79%44.95%45.59%-53.85%
Net Profit Margin
N/A0.20%1.64%N/A43.07%-41.79%-12.61%33.57%32.93%33.42%33.93%33.93%
Effective Tax Rate
N/A38.21%39.79%91.86%5.51%22.39%31.24%26.65%26.47%25.65%25.56%5.51%
Return on Assets
N/A75.02%55.91%24.40%928.70%-5.65%-2.18%1.41%5.63%6.47%6.75%6.75%
Return On Equity
N/A139.96%94.56%-170.59%1435.59%-11.29%-5.06%3.43%14.88%17.27%18.23%18.23%
Return on Capital Employed
N/A136.50%-7.93%-263.54%1968.73%7.00%11.69%2.36%9.48%10.84%11.23%11.23%
Liquidity Ratios
Current Ratio
N/A0.621.380.420.170.440.99N/AN/AN/A1.090.17
Quick Ratio
N/A0.621.450.420.170.440.990.730.870.941.090.17
Cash ratio
N/A0.621.350.420.160.000.00N/AN/A0.00N/A0.00
Days of Sales Outstanding
N/AN/A0.13N/AN/A45.3634.49129.1932.3029.3831.2945.36
Days of Inventory outstanding
N/AN/A-0.73N/AN/AN/A0.00N/AN/AN/AN/AN/A
Operating Cycle
N/AN/A-0.60N/AN/A45.3634.49129.1932.3029.3831.2945.36
Days of Payables Outstanding
N/AN/A0.59N/A0.626.9610.04102.2021.807.624.550.62
Cash Conversion Cycle
N/AN/A-1.19N/A-0.6238.4024.4426.9910.4921.7526.73-0.62
Debt Ratios
Debt Ratio
N/AN/AN/AN/AN/A0.460.550.560.580.560.540.46
Debt Equity Ratio
N/AN/AN/AN/AN/A0.921.271.361.531.491.481.48
Long-term Debt to Capitalization
N/AN/AN/AN/AN/A0.470.560.570.600.590.590.59
Total Debt to Capitalization
N/AN/AN/AN/AN/A0.470.560.570.600.590.590.59
Interest Coverage Ratio
N/AN/AN/AN/A-292.343.363.80N/AN/AN/A3.05-292.34
Cash Flow to Debt Ratio
N/AN/AN/AN/AN/A0.210.240.220.200.240.250.25
Company Equity Multiplier
N/A1.861.69-6.981.541.992.322.422.642.662.711.54
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
N/A0.000.64N/A0.080.730.773.030.700.700.710.08
Free Cash Flow / Operating Cash Flow Ratio
N/A-1.53K-0.09110.570.790.670.260.760.770.77
Cash Flow Coverage Ratio
N/AN/AN/AN/AN/A0.210.240.220.200.240.250.25
Short Term Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Dividend Payout Ratio
N/A28.55%1878.75%436.42%19.51%-139.72%-481.68%599.95%132.83%117.10%112.20%19.51%