ANTERO MIDSTREAM CORP (AM) Stock Fundamental Analysis
NYSE:AM - New York Stock Exchange, Inc. - US03676B1026 - Common Stock - Currency: USD
We assign a fundamental rating of 5 out of 10 to AM. AM was compared to 210 industry peers in the Oil, Gas & Consumable Fuels industry. Both the profitability and the financial health of AM get a neutral evaluation. Nothing too spectacular is happening here. AM is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
AM had positive earnings in the past year.
In the past year AM had a positive cash flow from operations.
AM had positive earnings in 4 of the past 5 years.
AM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
AM's Return On Assets of 6.95% is fine compared to the rest of the industry. AM outperforms 61.27% of its industry peers.
AM has a Return On Equity of 18.93%. This is in the better half of the industry: AM outperforms 71.57% of its industry peers.
AM has a Return On Invested Capital (8.60%) which is in line with its industry peers.
The Average Return On Invested Capital over the past 3 years for AM is significantly below the industry average of 28.74%.
The 3 year average ROIC (7.90%) for AM is below the current ROIC(8.60%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.95% | ||
| ROE | 18.93% | ||
| ROIC | 8.6% |
ROA(3y)6.35%
ROA(5y)4.56%
ROE(3y)17.01%
ROE(5y)12.09%
ROIC(3y)7.9%
ROIC(5y)7.76%
1.3 Margins
With an excellent Profit Margin value of 36.19%, AM belongs to the best of the industry, outperforming 87.25% of the companies in the same industry.
AM's Profit Margin has been stable in the last couple of years.
Looking at the Operating Margin, with a value of 59.68%, AM belongs to the top of the industry, outperforming 92.16% of the companies in the same industry.
In the last couple of years the Operating Margin of AM has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 59.68% | ||
| PM (TTM) | 36.19% | ||
| GM | N/A |
OM growth 3Y-1.68%
OM growth 5Y5.41%
PM growth 3Y-0.61%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), AM is creating some value.
Compared to 1 year ago, AM has about the same amount of shares outstanding.
The number of shares outstanding for AM has been reduced compared to 5 years ago.
AM has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 1.88 indicates that AM is not a great score, but indicates only limited risk for bankruptcy at the moment.
AM has a Altman-Z score of 1.88. This is comparable to the rest of the industry: AM outperforms 56.86% of its industry peers.
The Debt to FCF ratio of AM is 5.18, which is a neutral value as it means it would take AM, 5.18 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 5.18, AM is in line with its industry, outperforming 58.82% of the companies in the same industry.
AM has a Debt/Equity ratio of 1.47. This is a high value indicating a heavy dependency on external financing.
AM has a worse Debt to Equity ratio (1.47) than 80.39% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.47 | ||
| Debt/FCF | 5.18 | ||
| Altman-Z | 1.88 |
ROIC/WACC1.04
WACC8.27%
2.3 Liquidity
A Current Ratio of 1.17 indicates that AM should not have too much problems paying its short term obligations.
Looking at the Current ratio, with a value of 1.17, AM is in line with its industry, outperforming 45.59% of the companies in the same industry.
AM has a Quick Ratio of 1.17. This is a normal value and indicates that AM is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of AM (1.17) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.17 | ||
| Quick Ratio | 1.17 |
3. Growth
3.1 Past
AM shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 7.79%.
Measured over the past 5 years, AM shows a small growth in Earnings Per Share. The EPS has been growing by 3.44% on average per year.
The Revenue has been growing slightly by 6.18% in the past year.
Measured over the past years, AM shows a small growth in Revenue. The Revenue has been growing by 6.89% on average per year.
EPS 1Y (TTM)7.79%
EPS 3Y3.44%
EPS 5YN/A
EPS Q2Q%9.52%
Revenue 1Y (TTM)6.18%
Revenue growth 3Y7.19%
Revenue growth 5Y6.89%
Sales Q2Q%10.5%
3.2 Future
The Earnings Per Share is expected to grow by 17.18% on average over the next years. This is quite good.
The Revenue is expected to grow by 4.06% on average over the next years.
EPS Next Y23.21%
EPS Next 2Y17.52%
EPS Next 3Y17.18%
EPS Next 5YN/A
Revenue Next Year4.23%
Revenue Next 2Y4.02%
Revenue Next 3Y4.06%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 19.60, AM is valued on the expensive side.
AM's Price/Earnings ratio is a bit more expensive when compared to the industry. AM is more expensive than 61.27% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 29.62. AM is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 15.91, the valuation of AM can be described as correct.
AM's Price/Forward Earnings is on the same level as the industry average.
AM is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 22.70, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.6 | ||
| Fwd PE | 15.91 |
4.2 Price Multiples
AM's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. AM is more expensive than 65.20% of the companies in the same industry.
AM's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. AM is cheaper than 60.29% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 13.02 | ||
| EV/EBITDA | 12.57 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
AM has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as AM's earnings are expected to grow with 17.18% in the coming years.
PEG (NY)0.84
PEG (5Y)N/A
EPS Next 2Y17.52%
EPS Next 3Y17.18%
5. Dividend
5.1 Amount
AM has a Yearly Dividend Yield of 5.43%, which is a nice return.
Compared to an average industry Dividend Yield of 6.67, AM pays a bit more dividend than its industry peers.
AM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.43% |
5.2 History
The dividend of AM decreases each year by -9.21%.
AM has been paying a dividend for at least 10 years, so it has a reliable track record.
AM has decreased its dividend in the last 3 years.
Dividend Growth(5Y)-9.21%
Div Incr Years1
Div Non Decr Years2
5.3 Sustainability
109.45% of the earnings are spent on dividend by AM. This is not a sustainable payout ratio.
DP109.45%
EPS Next 2Y17.52%
EPS Next 3Y17.18%
16.27
-0.29 (-1.75%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)
Earnings (Next)
Inst Owners58.13%
Inst Owner Change-92.6%
Ins Owners1.16%
Ins Owner Change-0.02%
Market Cap7.83B
Analysts46.25
Price Target16.1 (-1.04%)
Short Float %3.82%
Short Ratio4.65
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.43% |
Yearly Dividend0.91
Dividend Growth(5Y)-9.21%
DP109.45%
Div Incr Years1
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-7.9%
Min EPS beat(2)-11.35%
Max EPS beat(2)-4.45%
EPS beat(4)0
Avg EPS beat(4)-11.89%
Min EPS beat(4)-21.33%
Max EPS beat(4)-4.45%
EPS beat(8)0
Avg EPS beat(8)-10.04%
EPS beat(12)0
Avg EPS beat(12)-9.6%
EPS beat(16)1
Avg EPS beat(16)-9.17%
Revenue beat(2)1
Avg Revenue beat(2)-0.77%
Min Revenue beat(2)-3.73%
Max Revenue beat(2)2.2%
Revenue beat(4)1
Avg Revenue beat(4)-1.12%
Min Revenue beat(4)-3.73%
Max Revenue beat(4)2.2%
Revenue beat(8)1
Avg Revenue beat(8)-2.48%
Revenue beat(12)1
Avg Revenue beat(12)-4.01%
Revenue beat(16)2
Avg Revenue beat(16)-3.36%
PT rev (1m)1.84%
PT rev (3m)1.84%
EPS NQ rev (1m)-2.5%
EPS NQ rev (3m)0.29%
EPS NY rev (1m)-0.83%
EPS NY rev (3m)-2.05%
Revenue NQ rev (1m)2.84%
Revenue NQ rev (3m)2.33%
Revenue NY rev (1m)1.02%
Revenue NY rev (3m)0.77%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.6 | ||
| Fwd PE | 15.91 | ||
| P/S | 7.08 | ||
| P/FCF | 13.02 | ||
| P/OCF | 9.28 | ||
| P/B | 3.7 | ||
| P/tB | 8.07 | ||
| EV/EBITDA | 12.57 |
EPS(TTM)0.83
EY5.1%
EPS(NY)1.02
Fwd EY6.29%
FCF(TTM)1.25
FCFY7.68%
OCF(TTM)1.75
OCFY10.78%
SpS2.3
BVpS4.39
TBVpS2.02
PEG (NY)0.84
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.95% | ||
| ROE | 18.93% | ||
| ROCE | 11.66% | ||
| ROIC | 8.6% | ||
| ROICexc | 8.6% | ||
| ROICexgc | 10.78% | ||
| OM | 59.68% | ||
| PM (TTM) | 36.19% | ||
| GM | N/A | ||
| FCFM | 54.39% |
ROA(3y)6.35%
ROA(5y)4.56%
ROE(3y)17.01%
ROE(5y)12.09%
ROIC(3y)7.9%
ROIC(5y)7.76%
ROICexc(3y)7.9%
ROICexc(5y)7.76%
ROICexgc(3y)10.05%
ROICexgc(5y)10.08%
ROCE(3y)10.71%
ROCE(5y)10.53%
ROICexcg growth 3Y1.82%
ROICexcg growth 5Y9.79%
ROICexc growth 3Y3.94%
ROICexc growth 5Y14.15%
OM growth 3Y-1.68%
OM growth 5Y5.41%
PM growth 3Y-0.61%
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score9
Asset Turnover0.19
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.47 | ||
| Debt/FCF | 5.18 | ||
| Debt/EBITDA | 3.58 | ||
| Cap/Depr | 115.03% | ||
| Cap/Sales | 21.91% | ||
| Interest Coverage | 3.48 | ||
| Cash Conversion | 96.91% | ||
| Profit Quality | 150.29% | ||
| Current Ratio | 1.17 | ||
| Quick Ratio | 1.17 | ||
| Altman-Z | 1.88 |
F-Score9
WACC8.27%
ROIC/WACC1.04
Cap/Depr(3y)152.9%
Cap/Depr(5y)139.6%
Cap/Sales(3y)31.87%
Cap/Sales(5y)28.68%
Profit Quality(3y)122.35%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)7.79%
EPS 3Y3.44%
EPS 5YN/A
EPS Q2Q%9.52%
EPS Next Y23.21%
EPS Next 2Y17.52%
EPS Next 3Y17.18%
EPS Next 5YN/A
Revenue 1Y (TTM)6.18%
Revenue growth 3Y7.19%
Revenue growth 5Y6.89%
Sales Q2Q%10.5%
Revenue Next Year4.23%
Revenue Next 2Y4.02%
Revenue Next 3Y4.06%
Revenue Next 5YN/A
EBIT growth 1Y6.8%
EBIT growth 3Y5.39%
EBIT growth 5Y12.68%
EBIT Next Year43.36%
EBIT Next 3Y14.7%
EBIT Next 5Y8.69%
FCF growth 1Y1.11%
FCF growth 3Y8.05%
FCF growth 5Y21.27%
OCF growth 1Y8.33%
OCF growth 3Y5.94%
OCF growth 5Y6.28%