Antero Midstream Corporation (AM) vs DT Midstream, Inc. (DTM)

Antero Midstream Corporation and DT Midstream, Inc. are both Oil & Gas Midstream companies. DT Midstream, Inc. is the larger, with a market value of $12.1B against $9.5B — 1.3× the size. Antero Midstream Corporation trades at the lower P/E: 24.6× against 26.9×. DT Midstream, Inc. grew revenue faster over the last twelve months: 18.1% against 6.87%. DT Midstream, Inc. has the higher net margin (35.7% vs 32.4%) and the lower return on invested capital (5.03% vs 7.39%). Both pay a dividend; Antero Midstream Corporation yields more (4.36% vs 2.80%). Across the 23 metrics below, Antero Midstream Corporation leads on 14 and DT Midstream, Inc. on 9.

Valuation

Metric AM DTM Oil & Gas Midstream median
P/E 24.57 26.94 12.77
P/S 7.95 9.63 2.36
P/B 5.04 2.56 2.09
Price to free cash flow 8.49 26.28 9.71
EV/EBITDA 14.95 16.89 8.30
EV/Sales 10.63 12.06 3.88
Earnings yield 4.07% 3.71% 7.15%
Free cash flow yield 11.77% 3.81% 6.86%

Profitability

Metric AM DTM Oil & Gas Midstream median
Gross margin 78.34% 100.00% 56.58%
Operating margin 52.83% 49.62% 34.18%
Net margin 32.36% 35.73% 22.50%
Free cash flow margin 93.59% 36.64% 13.70%
Return on equity 19.80% 9.61% 14.65%
Return on assets 6.60% 4.64% 5.00%
Return on invested capital 7.39% 5.03% 6.13%

Growth

Metric AM DTM Oil & Gas Midstream median
Revenue growth (TTM) 6.87% 18.12% 15.60%
EPS growth (last fiscal year) 3.61% 19.44% (7.86%)
Revenue growth, 5-year CAGR 5.70% 10.51% 9.59%
Net income growth, 5-year CAGR 0.00% 7.17% 0.00%

Health

Metric AM DTM Oil & Gas Midstream median
Debt to equity 1.83 0.68 0.78
Current ratio 0.84 1.37 1.19
Net debt to EBITDA 3.46 3.68 3.42

Dividend

Metric AM DTM Oil & Gas Midstream median
Dividend yield 4.36% 2.80% 4.54%
Payout ratio 1.07 0.76 0.76

Size

Metric AM DTM Oil & Gas Midstream median
Market cap 9.46b 12.12b 3.73b

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