Antero Midstream Corp
AM · Natural Gas Transmission · 475.0M shares · +2%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$3M (gross $29M, SBC $32M)
Reference price $21.90 · est. market cap ~$10.4B — last insider sale, 2026-05-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B79High-margin, high-return midstream gas franchise with top-decile operating/cash margins but elevated leverage and only mid-pack growth.
Strengths
- Top-decile margins: operating 54% and OCF 78% (both 100th pct), net margin 35% (93.8th)
- Strong returns — ROE 21% (80th pct), ROA 7% (75th), ROIC 9.8% — with a very liquid 3.4x current ratio
Risks
- Debt/equity 1.63 (75th pct) is high, typical of midstream but limits financial flexibility
- Revenue (7.4%) and net-income (3%) growth only mid-pack (~44th pct), so no growth standout
Notable findings
- Insider sellingInsider selling — 5 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$5M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
54.2%
Net margin
34.8%
Return on equity
21.0%
Return on assets
7.0%
ROIC
9.8%
Revenue growth (QoQ)
5.8%
Net-income growth
3.1%
Debt / equity
1.6×
Current ratio
3.4×
Tangible book value
$898M
Cash & investments
$180M
Stock comp / revenue
3.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-04 | Schultz Yvette K | Sell | 69K | $21.90 |
| 2026-05-04 | Kennedy Michael N. | Sell | 100K | $21.92 |
| 2026-04-10 | DEA PETER A | Grant | 1.6K | — |
| 2026-04-10 | Chisholm Nancy | Grant | 1.6K | — |
| 2026-04-10 | Munoz Jeffrey S. | Grant | 1.6K | — |
| 2026-04-10 | MCARDLE JANINE J | Grant | 1.6K | — |
| 2026-04-10 | MOLLENKOPF JOHN C | Grant | 1.6K | — |
| 2026-04-10 | KLIMLEY BROOKS J | Grant | 1.6K | — |
| 2026-04-10 | KEYTE DAVID H | Grant | 3.0K | — |
| 2026-04-10 | Keenan W Howard JR | Grant | 1.6K | — |
| 2026-03-12 | KLIMLEY BROOKS J | Sell | 5.0K | $23.16 |
| 2026-03-10 | Pearce Sheri | Sell | 14K | $22.76 |
| 2026-03-09 | Schultz Yvette K | Sell | 25K | $22.81 |
| 2026-03-07 | Pearce Sheri | Tax withheld | 25K | $22.97 |
| 2026-03-07 | Agnew Justin J. | Grant | 33K | — |
| 2026-03-07 | Agnew Justin J. | Tax withheld | 15K | $22.97 |
| 2026-03-07 | Kennedy Michael N. | Grant | 261K | — |
| 2026-03-07 | Kennedy Michael N. | Tax withheld | 109K | $22.97 |
| 2026-03-07 | Kennedy Michael N. | Gift | 15K | — |
| 2026-03-07 | Krueger Brendan E. | Grant | 98K | — |
| 2026-03-07 | Krueger Brendan E. | Tax withheld | 57K | $22.97 |
| 2026-03-07 | Schultz Yvette K | Grant | 98K | — |
| 2026-03-07 | Schultz Yvette K | Tax withheld | 66K | $22.97 |
| 2026-03-07 | Pearce Sheri | Grant | 33K | — |
| 2026-02-24 | Schultz Yvette K | Grant | 124K | — |
| 2026-02-24 | Schultz Yvette K | Tax withheld | 55K | $22.12 |
| 2026-02-24 | Krueger Brendan E. | Grant | 99K | — |
| 2026-02-24 | Krueger Brendan E. | Tax withheld | 44K | $22.12 |
| 2026-02-24 | Kennedy Michael N. | Grant | 203K | — |
| 2026-02-24 | Kennedy Michael N. | Tax withheld | 89K | $22.12 |
| 2026-01-10 | MOLLENKOPF JOHN C | Grant | 2.1K | — |
| 2026-01-10 | DEA PETER A | Grant | 2.1K | — |
| 2026-01-10 | Chisholm Nancy | Grant | 2.1K | — |
| 2026-01-10 | MCARDLE JANINE J | Grant | 2.1K | — |
| 2026-01-10 | KEYTE DAVID H | Grant | 3.8K | — |
| 2026-01-10 | KLIMLEY BROOKS J | Grant | 2.1K | — |
| 2026-01-10 | Keenan W Howard JR | Grant | 2.1K | — |
| 2026-01-10 | Munoz Jeffrey S. | Grant | 2.1K | — |
| 2025-12-16 | KLIMLEY BROOKS J | Sell | 5.0K | $17.59 |
| 2025-12-12 | Kennedy Michael N. | Gift | 15K | — |
| 2025-10-10 | Keenan W Howard JR | Grant | 1.9K | — |
| 2025-10-10 | DEA PETER A | Grant | 1.9K | — |
| 2025-10-10 | Chisholm Nancy | Grant | 1.9K | — |
| 2025-10-10 | MOLLENKOPF JOHN C | Grant | 1.9K | — |
| 2025-10-10 | Munoz Jeffrey S. | Grant | 1.9K | — |
| 2025-10-10 | MCARDLE JANINE J | Grant | 1.9K | — |
| 2025-10-10 | KEYTE DAVID H | Grant | 2.8K | — |
| 2025-10-10 | KLIMLEY BROOKS J | Grant | 1.9K | — |
| 2025-08-20 | Pearce Sheri | Sell | 39K | $17.51 |
| 2025-07-10 | DEA PETER A | Grant | 2.0K | — |
| 2025-07-10 | Chisholm Nancy | Grant | 2.0K | — |
| 2025-07-10 | MOLLENKOPF JOHN C | Grant | 2.0K | — |
| 2025-07-10 | Munoz Jeffrey S. | Grant | 2.0K | — |
| 2025-07-10 | MCARDLE JANINE J | Grant | 2.0K | — |
| 2025-07-10 | KEYTE DAVID H | Grant | 2.0K | — |
| 2025-07-10 | KLIMLEY BROOKS J | Grant | 2.0K | — |
| 2025-07-10 | Keenan W Howard JR | Grant | 2.0K | — |
| 2025-05-28 | KLIMLEY BROOKS J | Sell | 5.0K | $18.88 |
| 2025-04-15 | Krueger Brendan E. | Tax withheld | 26K | $16.73 |
| 2025-04-15 | Kennedy Michael N. | Tax withheld | 44K | $16.73 |
| 2025-04-15 | Schultz Yvette K | Tax withheld | 28K | $16.73 |
| 2025-04-15 | RADY PAUL M | Tax withheld | 149K | $16.73 |
| 2025-04-15 | Pearce Sheri | Tax withheld | 12K | $16.73 |
| 2025-04-10 | MCARDLE JANINE J | Grant | 2.2K | — |
| 2025-04-10 | KLIMLEY BROOKS J | Grant | 2.2K | — |
| 2025-04-10 | KEYTE DAVID H | Grant | 2.2K | — |
| 2025-04-10 | MOLLENKOPF JOHN C | Grant | 2.2K | — |
| 2025-04-10 | Munoz Jeffrey S. | Grant | 2.2K | — |
| 2025-04-10 | DEA PETER A | Grant | 2.2K | — |
| 2025-04-10 | Chisholm Nancy | Grant | 2.2K | — |
| 2025-04-10 | Keenan W Howard JR | Grant | 2.2K | — |
| 2025-03-07 | Pearce Sheri | Grant | 46K | — |
| 2025-03-07 | Pearce Sheri | Tax withheld | 18K | $16.46 |
| 2025-03-07 | Krueger Brendan E. | Grant | 121K | — |
| 2025-03-07 | Krueger Brendan E. | Tax withheld | 39K | $16.46 |
| 2025-03-07 | Kennedy Michael N. | Grant | 198K | — |
| 2025-03-07 | Kennedy Michael N. | Tax withheld | 80K | $16.46 |
| 2025-03-07 | Schultz Yvette K | Grant | 121K | — |
| 2025-03-07 | Schultz Yvette K | Tax withheld | 49K | $16.46 |
| 2025-03-07 | RADY PAUL M | Grant | 460K | — |
| 2025-03-07 | RADY PAUL M | Tax withheld | 185K | $16.46 |
| 2025-02-27 | Schultz Yvette K | Grant | 111K | — |
| 2025-02-27 | Schultz Yvette K | Tax withheld | 49K | $16.22 |
| 2025-02-27 | RADY PAUL M | Grant | 421K | — |
| 2025-02-27 | RADY PAUL M | Tax withheld | 185K | $16.22 |
| 2025-02-27 | Kennedy Michael N. | Grant | 144K | — |
| 2025-02-27 | Kennedy Michael N. | Tax withheld | 63K | $16.22 |
| 2025-02-27 | Krueger Brendan E. | Grant | 89K | — |
| 2025-02-27 | Krueger Brendan E. | Tax withheld | 39K | $16.22 |
| 2025-01-10 | MOLLENKOPF JOHN C | Grant | 2.3K | — |
| 2025-01-10 | MCARDLE JANINE J | Grant | 2.3K | — |
| 2025-01-10 | KLIMLEY BROOKS J | Grant | 2.3K | — |
| 2025-01-10 | KEYTE DAVID H | Grant | 2.3K | — |
| 2025-01-10 | Keenan W Howard JR | Grant | 2.3K | — |
| 2025-01-10 | Munoz Jeffrey S. | Grant | 1.6K | — |
| 2025-01-10 | DEA PETER A | Grant | 2.3K | — |
| 2025-01-10 | Chisholm Nancy | Grant | 2.3K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-04 | 2026-06-03 | 0001104659-26-070571 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001104659-26-059010 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001104659-26-051518 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001104659-26-051547 ↗ |
| 8-K | 2026-04-01 | 2026-04-01 | 0001104659-26-038597 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001104659-26-018616 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001104659-26-013423 ↗ |
| 10-K | 2026-02-11 | 2025-12-31 | 0001104659-26-013380 ↗ |
| 8-K | 2026-02-03 | 2026-02-03 | 0001104659-26-009763 ↗ |
| 8-K | 2025-12-23 | 2025-12-23 | 0001104659-25-124289 ↗ |
| 8-K | 2025-12-10 | 2025-12-09 | 0001104659-25-119754 ↗ |
| 8-K | 2025-12-09 | 2025-12-09 | 0001104659-25-119493 ↗ |