AM · XBRL financial data
Antero Midstream financial statements, every fiscal year
The same tables from 7 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (AM's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue | 901 | 898 | 920 | 1,042 | 1,106 | 1,188 |
| General and administrative | 52 | 64 | 62 | 71 | 86 | 88 |
| Total operating expenses | 1,018 | 343 | 381 | 430 | 447 | 544 |
| Other operating income (expense) | — | — | — | (7) | (1) | (0) |
| Operating income (loss) | (118) | 555 | 539 | 612 | 659 | 645 |
| Other income (expense) | (61) | (107) | (96) | (112) | (111) | (80) |
| Income tax expense (benefit) | (56) | 117 | 117 | 128 | 148 | 151 |
| Earnings per share, basic USD per share | (0.26) | 0.69 | 0.68 | 0.77 | 0.83 | 0.86 |
| Earnings per share, diluted USD per share | (0.26) | 0.69 | 0.68 | 0.77 | 0.83 | 0.86 |
| Weighted average shares, basic millions of shares | 478 | 477 | 478 | 479 | 481 | 478 |
| Weighted average shares, diluted millions of shares | 478 | 480 | 480 | 482 | 485 | 482 |
Balance sheet
CSVFiscal years (AM's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 1 | — | 0 | 0 | — | 180 |
| Accounts receivable | 1 | 1 | 1 | — | — | — |
| Total current assets | 94 | 84 | 89 | 91 | 118 | 380 |
| Property and equipment, net | 3,254 | 3,395 | 3,751 | 3,794 | 3,882 | 3,455 |
| Total assets | 5,611 | 5,544 | 5,791 | 5,738 | 5,762 | 5,884 |
| Accounts payable | 9 | 24 | 23 | — | — | — |
| Accrued liabilities | 75 | 81 | 73 | 81 | 84 | 92 |
| Total current liabilities | 94 | 114 | 102 | 96 | 101 | 111 |
| Long-term debt | 3,092 | 3,123 | 3,361 | 3,213 | 3,117 | 3,223 |
| Total liabilities | 3,193 | 3,257 | 3,599 | 3,586 | 3,647 | 3,912 |
| Retained earnings (accumulated deficit) | (464) | (132) | 83 | 100 | 91 | 15 |
| Total stockholders' equity | 2,418 | 2,287 | 2,192 | 2,152 | 2,115 | 1,972 |
| Total liabilities and equity | 5,611 | 5,544 | 5,791 | 5,738 | 5,762 | 5,884 |
| Common shares outstanding (cover page) millions of shares | 477 | 478 | 479 | 480 | 479 | 473 |
Cash flows
CSVFiscal years (AM's year ends in late December)
| In millions of dollars | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 13 | 14 | 20 | 32 | 44 | 46 |
| Net cash from operating activities | 753 | 710 | 700 | 779 | 844 | 932 |
| Purchases of property and equipment | 158 | — | — | — | — | — |
| Net cash from investing activities | (219) | (233) | (494) | (183) | (243) | (169) |
| Share repurchases | 25 | — | — | — | 29 | 135 |
| Dividends paid | 590 | 471 | 433 | 435 | 438 | 439 |
| Net cash from financing activities | (535) | (477) | (206) | (596) | (601) | (500) |
| Net change in cash | (1) | (1) | — | 0 | (0) | 263 |
Compare with peers
SIC 4922 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 4922 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| Antero Midstream | 0 | 327 | 600* | 472.3M | — | 10-QSep 30, 2026 |
| Excelerate Energy | 342 | 329 | 114* | not reported | — | 10-QJun 30, 2026 |
| National Fuel Gas | 1,235 | 537 | 377* | 95.0M | — | 10-QJun 30, 2026 |
| Venture Global | 3,120 | 4,578 | 2,072* | not reported | — | 10-QJun 30, 2026 |
| Southwest Gas Holdings | 271 | not reported | 146* | 72.4M | — | 10-QJun 30, 2026 |
| Western Midstream Partners | 647 | 1,124 | 470 | 393.8M | — | 10-QMar 31, 2026 |
| New Jersey Resources | 34 | 258 | (12)* | 101.5M | 2.9 quarters | 10-QJun 30, 2026 |
| Spire | 50 | not reported | 410* | 59.1M | — | 10-QMar 31, 2026 |
| Archrock | 4.1 | 371 | 159* | 175.4M | — | 10-QSep 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.