AM financial statements

The full income statement, balance sheet, and cash-flow statement for Antero Midstream Corporation (AM), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 481.3M2024-09 481.3M2024-12 478.6M2025-03 479.2M2025-06 478.5M2025-09 476.3M2025-12 473.1M2026-03 475.0M2026-06 474.7M-1.4% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	1.19B YoY+7.4%	1.11B YoY+6.2%	1.04B YoY+13.2%	920M YoY+2.4%	898M YoY-0.3%
	544M YoY+21.6%	447M YoY+4.0%	430M YoY+13.0%	381M YoY+11.0%	343M YoY-66.3%
Selling, general & administrative	87.9M YoY+2.1%	86.1M YoY+21.1%	71.1M YoY+14.4%	62.1M YoY-2.7%	63.8M YoY+22.3%
General & administrative	87.9M YoY+2.1%	86.1M YoY+21.1%	71.1M YoY+14.4%	62.1M YoY-2.7%	63.8M YoY+22.3%
Amortization of intangibles	70.7M YoY+0.0%	70.7M YoY+0.0%	70.7M YoY+0.0%	70.7M YoY+0.0%	70.7M YoY+0.0%
Operating income	645M YoY-2.2%	659M YoY+7.7%	612M YoY+13.4%	539M YoY-2.9%	555M YoY+572.1%
Net interest income	—	—	-217M YoY-14.4%	-190M YoY-8.4%	-175M YoY-19.2%
Other non-operating income	-80.5M YoY+27.2%	-111M YoY+1.1%	-112M YoY-16.8%	-95.7M YoY+10.2%	-107M YoY-76.0%
Equity-method income	116M YoY+5.3%	111M YoY+4.9%	105M YoY+11.9%	94.2M YoY+4.2%	90.5M YoY+4.7%
Pre-tax income	564M YoY+2.8%	549M YoY+9.7%	500M YoY+12.7%	444M YoY-1.1%	449M YoY+351.8%
Income tax	151M YoY+2.2%	148M YoY+15.2%	128M YoY+9.2%	117M YoY+0.3%	117M YoY+310.3%
	413M YoY+3.1%	401M YoY+7.8%	372M YoY+14.0%	326M YoY-1.6%	332M YoY+370.6%
Net income to common	413M YoY+3.1%	400M YoY+7.8%	371M YoY+14.0%	326M YoY-1.6%	331M YoY+369.0%
	$0.86 YoY+3.6%	$0.83 YoY+7.8%	$0.77 YoY+13.2%	$0.68 YoY-1.4%	$0.69 YoY+365.4%
EPS (basic)	$0.86 YoY+3.6%	$0.83 YoY+7.8%	$0.77 YoY+13.2%	$0.68 YoY-1.4%	$0.69 YoY+365.4%
	478M YoY-0.6%	481M YoY+0.3%	479M YoY+0.2%	478M YoY+0.2%	477M YoY-0.2%
	482M YoY-0.6%	485M YoY+0.6%	482M YoY+0.4%	480M YoY+0.1%	480M YoY+0.3%
Dividends per share	$0.93 YoY+1.5%	$0.91 YoY+0.9%	$0.91 YoY+0.2%	$0.90 YoY-8.3%	$0.99 YoY-20.2%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	380M YoY+221.7%	118M YoY+29.6%	91.1M YoY+2.4%	89.0M YoY+6.2%	83.8M YoY-10.8%
Cash & equivalents	180M	—	66.0K	0.00	—
Accounts receivable	—	—	—	575K YoY-23.0%	747K YoY-11.0%
Other current assets	2.67M YoY+30.1%	2.05M YoY+36.8%	1.50M YoY+13.1%	1.33M YoY+44.1%	920K YoY-37.8%
	5.88B YoY+2.1%	5.76B YoY+0.4%	5.74B YoY-0.9%	5.79B YoY+4.5%	5.54B YoY-1.2%
Property, plant & equipment	3.45B YoY-11.0%	3.88B YoY+2.3%	3.79B YoY+1.1%	3.75B YoY+10.5%	3.39B YoY+4.3%
Intangible assets	1.07B YoY-6.2%	1.14B YoY-5.8%	1.22B YoY-5.5%	1.29B YoY-5.2%	1.36B YoY-5.0%
Other non-current assets	10.8M YoY-19.2%	13.3M YoY+22.6%	10.9M YoY-9.5%	12.0M YoY-5.1%	12.7M YoY+31.8%
	111M YoY+10.8%	101M YoY+4.4%	96.4M YoY-5.5%	102M YoY-10.5%	114M YoY+21.3%
Accounts payable	—	—	—	22.9M YoY-3.1%	23.6M YoY+148.5%
Accrued liabilities	91.5M YoY+9.5%	83.6M YoY+3.6%	80.6M YoY+10.9%	72.7M YoY-10.0%	80.8M YoY+7.9%
Other current liabilities	1.92M YoY+203.0%	635K YoY-23.6%	831K YoY-21.7%	1.06M YoY-77.0%	4.62M YoY-18.9%
	3.91B YoY+7.3%	3.65B YoY+1.7%	3.59B YoY-0.4%	3.60B YoY+10.5%	3.26B YoY+2.0%
Long-term debt	3.22B YoY+3.4%	3.12B YoY-3.0%	3.21B YoY-4.4%	3.36B YoY+7.6%	3.12B YoY+1.0%
Deferred tax liabilities	563M YoY+36.1%	414M YoY+55.6%	266M YoY+102.6%	131M YoY+856.3%	13.7M
Other non-current liabilities	12.0M YoY-21.8%	15.4M YoY+48.4%	10.4M YoY+134.3%	4.43M YoY-33.5%	6.66M YoY-4.7%
	1.97B YoY-6.8%	2.12B YoY-1.7%	2.15B YoY-1.9%	2.19B YoY-4.1%	2.29B YoY-5.4%
Common stock	4.74M YoY-1.1%	4.79M YoY-0.1%	4.80M YoY+0.3%	4.79M YoY+0.2%	4.78M YoY+0.2%
Additional paid-in capital	1.95B YoY-3.3%	2.02B YoY-1.3%	2.05B YoY-2.8%	2.10B YoY-12.8%	2.41B YoY-16.1%
Retained earnings	14.8M YoY-83.7%	90.5M YoY-9.9%	100M YoY+21.3%	82.8M YoY+162.5%	-132M YoY+71.5%
Total liabilities & equity	5.88B YoY+2.1%	5.76B YoY+0.4%	5.74B YoY-0.9%	5.79B YoY+4.5%	5.54B YoY-1.2%
	474M YoY-1.1%	479M YoY-0.1%	480M YoY+0.3%	478M YoY+0.2%	477M YoY+0.2%
	474M YoY-1.1%	479M YoY-0.1%	480M YoY+0.3%	478M YoY+0.2%	477M YoY+0.2%
	473M YoY-1.2%	479M YoY-0.2%	480M YoY+0.2%	479M YoY+0.2%	478M YoY+0.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	932M YoY+10.5%	844M YoY+8.3%	779M YoY+11.4%	700M YoY-1.4%	710M YoY-5.8%
Depreciation & amortization	205M YoY-2.7%	211M YoY+1.9%	207M YoY+2.1%	202M YoY+12.8%	179M YoY+65.0%
Intangible amortization	70.7M YoY+0.0%	70.7M YoY+0.0%	70.7M YoY+0.0%	70.7M YoY+0.0%	70.7M YoY+0.0%
Share-based compensation	46.0M YoY+3.7%	44.3M YoY+40.3%	31.6M YoY+60.8%	19.7M YoY+45.3%	13.5M YoY+5.9%
Deferred income taxes	149M YoY+1.1%	148M YoY+9.7%	135M YoY+14.6%	117M YoY+0.3%	117M YoY+68593.0%
Change in receivables	-325K YoY+56.6%	-748K YoY-108.4%	-359K YoY+50.3%	-723K YoY+20.0%	-904K YoY+37.0%
Change in payables	-2.08M YoY-155.8%	3.72M YoY+147.9%	-7.77M YoY-197.4%	7.97M YoY+1047.2%	695K YoY-42.1%
Other operating activities	192K YoY-78.9%	912K YoY-87.0%	7.01M	—	—
	-169M YoY+30.3%	-243M YoY-32.5%	-183M YoY+62.9%	-494M YoY-111.7%	-233M YoY-6.4%
Capital expenditure	—	70.0M YoY+26212.8%	266K YoY-99.9%	217M	—
Free cash flow	—	774M YoY-0.6%	779M YoY+61.3%	483M	—
Acquisitions	0.00	0.00	0.00	0.00	0.00
Other investing activities	304K YoY+115.2%	-2.00M YoY-89.5%	-1.05M	—	—
	-500M YoY+16.8%	-601M YoY-0.9%	-596M YoY-189.5%	-206M YoY+56.9%	-477M YoY+10.8%
Long-term debt issued	1.25B YoY+108.3%	600M	0.00	0.00 YoY-100.0%	750M YoY+36.4%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	135M YoY+370.5%	28.7M	0.00	0.00	0.00 YoY-100.0%
Dividends paid	439M YoY+0.3%	438M YoY+0.6%	435M YoY+0.5%	433M YoY-8.1%	471M YoY-20.1%
Other financing activities	—	—	—	—	-41.0K YoY+74.4%
Net change in cash	263M YoY+398486.4%	-66.0K YoY-200.0%	66.0K	—	-640K YoY-7.6%
Interest paid	188M YoY-1.2%	190M YoY-11.2%	214M YoY+16.9%	183M YoY+1.9%	180M YoY+27.7%
Income taxes paid	2.60M YoY+2600.0%	-104K YoY+98.9%	-9.63M	—	16.3M YoY-58.4%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	8.42B YoY+16.5%	7.22B YoY+20.2%	6.01B YoY+16.4%	5.16B YoY+11.7%	4.62B YoY+25.8%
P/E	20.4× YoY+13.1%	18.0× YoY+6.1%	17.0× YoY+5.9%	16.0× YoY+15.0%	13.9×
P/S	7.1× YoY+8.5%	6.5× YoY+11.1%	5.9× YoY+1.8%	5.8× YoY+12.1%	5.1× YoY+26.1%
P/B	4.3× YoY+25.0%	3.4× YoY+22.2%	2.8× YoY+19.7%	2.3× YoY+15.4%	2.0× YoY+33.0%
P/FCF	10.9× YoY+16.5%	9.3× YoY-25.0%	12.4× YoY+43.6%	8.7× YoY+11.7%	7.8× YoY+25.8%
	4.9% YoY-11.6%	5.6% YoY-5.8%	5.9% YoY-5.6%	6.2% YoY-13.0%	7.2%
	9.2% YoY-14.2%	10.7% YoY+33.4%	8.0% YoY-30.3%	11.5% YoY-10.4%	12.9% YoY-20.5%
	5.2% YoY-13.9%	6.1% YoY-16.2%	7.2% YoY-13.7%	8.4% YoY-17.7%	10.2% YoY-36.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: AM's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all AM filings on SEC EDGAR → Not investment advice.