Antero Midstream Corporation

AMNYSEEnergy● Active

$21.33

$-0.19(-0.88%)

Market Cap$10.1B

P/E Ratio—

52W High$23.835

52W Low$16.77

Avg Volume2.6M

Open$21.52

Beta0.63

Free Cash Flow Financials Revenue

Antero Midstream Corporation (AM) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

AM · free cash flow · updated Jun 9, 2026

Core FCF metrics

AM · FCF · TTM · margin & CAGR

Free cash flow was $770.2M for FY2025 (fiscal year ending 2025-12-31), up 28.0% year-over-year The FCF margin was 61.2%. Five-year CAGR stands at +5.3%.

FY2025 Free Cash Flow$770.2M▲ +28.0% YoY

Trailing 12M (TTM)$916.0Mtrailing 4 quarters sum

FCF Margin61.2%$770.2M ÷ revenue

3-Year CAGR+61.2%FY2022 → FY2025

5-Year CAGR+5.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

AM · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$932.5M(162M)$770.2M▲ +28.0%61.2%

FY2024$844.0M(242M)$601.7M▲ +1.1%51.1%

FY2023$779.1M(184M)$595.1M▲ +223.5%53.5%

FY2022$699.6M(516M)$184.0M▼ 61.4%18.6%

FY2021$709.8M(233M)$476.9M▼ 19.9%49.2%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

AM · P/FCF · FCF yield · FCF per share

Antero Midstream Corporation (AM) trades at a FCF yield of 9.04% and a price-to-free-cash-flow ratio of 11.1x. FCF per share stands at $1.92, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

9.04%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.92

TTM FCF ÷ Shares Outstanding

Price / FCF

x11.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x15.1

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

AM · cash flow statement · operating / investing / financing

For FY2025, Antero Midstream Corporation generated $932.5M in operating cash flow and spent 162M in capital expenditures, yielding $770.2M in free cash flow.

Operating Activities

+$932.5M

Cash from core business operations

2025-12-31

Investing Activities

−$169.2M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$500.3M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($932.5M) − |CapEx| (162M) = FCF ($770.2M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Energy)

AM vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Antero Midstream CorporationYOU

$770.2M+28.0%61.2%

Exxon Mobil Corporation

Energy · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Antero Midstream Corporation (AM) reported free cash flow of $770.2M for FY2025 (fiscal year ending 2025-12-31), up 28.0% year-over-year. The FCF margin was 61.2%.

Based on available data, Antero Midstream Corporation has maintained positive free cash flow for at least 9 fiscal year(s). FCF peaked at $770.2M in FY2025. The 5-year CAGR stands at +5.3%.

Antero Midstream Corporation's FCF yield is 9.04% and price-to-FCF ratio is 11.1x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

AM free cash flow · 8 questions

Antero Midstream Corporation free cash flow was $770.2M for FY2025, up 28.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $916.0M.

AM free cash flowAM FCFAM FCF 2025AM free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Antero Midstream Corporation · Antero Midstream Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026