Antero Midstream
AM · Oil & Gas Storage & Transportation
$20.85
1.2%Viper Energy
VNOM · Oil & Gas Storage & Transportation
$46.94
3.5%The short version
- Viper Energy is the larger business, with $1.4B of revenue in fiscal 2025 against $1.2B for Antero Midstream.
- Viper Energy grew revenue faster (62.0%, against 7.4%).
- Antero Midstream kept more of each dollar of sales as operating profit (54.3% operating margin, against −10.0% operating margin).
- Antero Midstream earned a higher return on the capital invested in it (9.2%, against −1.3%).
| Latest fiscal year | AM · FY25 | VNOM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.9B | $9.1B |
| Revenue | $1.2B | $1.4B |
| Free cash flow | — | — |
| Net income | $413M | −$68.0M |
| Growth | ||
| Revenue growth | 7.4% | 62.0% |
| 5-year growth | 5.7% | 41.0% |
| Share count change | −0.6% | 51.7% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 54.3% | −10.0% |
| Net margin | 34.8% | −4.9% |
| FCF margin | — | — |
| Return on capital | 9.2% | −1.3% |
| Return on equity | 20.2% | −2.2% |
| Balance sheet | ||
| Net debt | $3.0B | $2.2B |
| Net debt / EBITDA | 3.6x | 4.7x |
| Dividends and buybacks | $574M | $328M |
| Valuation & quality | ||
| P/E | 24.8x | — |
| Piotroski F-score | 7 | 3 |
FY16
AM —
VNOM $79.1M
FY17
AM —
VNOM $172M
FY18
AM —
VNOM $289M
FY19
AM $793M
VNOM $298M
FY20
AM $901M
VNOM $251M
FY21
AM $898M
VNOM $505M
FY22
AM $920M
VNOM $867M
FY23
AM $1.0B
VNOM $828M
FY24
AM $1.1B
VNOM $861M
FY25
AM $1.2B
VNOM $1.4B
AM
VNOM
FY16
AM —
VNOM −11.8%
FY17
AM —
VNOM 66.2%
FY18
AM —
VNOM 70.3%
FY19
AM −50.3%
VNOM 64.9%
FY20
AM −13.1%
VNOM 21.1%
FY21
AM 61.8%
VNOM 71.6%
FY22
AM 58.6%
VNOM 78.5%
FY23
AM 58.7%
VNOM 74.9%
FY24
AM 59.6%
VNOM 65.9%
FY25
AM 54.3%
VNOM −10.0%
AM
VNOM
FY16
AM —
VNOM $68.6M
FY17
AM —
VNOM $139M
FY18
AM —
VNOM $240M
FY19
AM —
VNOM $237M
FY20
AM —
VNOM $197M
FY21
AM —
VNOM —
FY22
AM —
VNOM —
FY23
AM —
VNOM —
FY24
AM —
VNOM —
FY25
AM —
VNOM —
AM
VNOM
FY16
AM —
VNOM —
FY17
AM —
VNOM 13.9%
FY18
AM —
VNOM 15.6%
FY19
AM —
VNOM 8.8%
FY20
AM −1.6%
VNOM 1.6%
FY21
AM 7.5%
VNOM 13.4%
FY22
AM 7.2%
VNOM 23.3%
FY23
AM 8.3%
VNOM 16.7%
FY24
AM 9.1%
VNOM 12.8%
FY25
AM 9.2%
VNOM −1.3%
AM
VNOM
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.