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 $11.5B against $9.1B — 1.3× the size. Antero Midstream Corporation trades at the lower P/E: 13.4× against 24.4×. DT Midstream, Inc. grew revenue faster over the last twelve months: 13.4% against 7.34%. Antero Midstream Corporation has the higher net margin (53.4% vs 35.4%) and the higher return on invested capital (12.0% vs 5.14%). Both pay a dividend; Antero Midstream Corporation yields more (4.69% vs 3.05%). Across the 23 metrics below, Antero Midstream Corporation leads on 15 and DT Midstream, Inc. on 8.

Valuation

Metric AM DTM Oil & Gas Midstream median
P/E 13.45 24.38 11.68
P/S 7.20 8.67 2.39
P/B 4.11 2.33 1.68
Price to free cash flow 5.91 21.68 8.52
EV/EBITDA 9.50 15.40 9.03
EV/Sales 9.48 10.98 3.43
Earnings yield 7.44% 4.10% 7.78%
Free cash flow yield 16.93% 4.61% 7.11%

Profitability

Metric AM DTM Oil & Gas Midstream median
Gross margin 76.88% 100.00% 54.87%
Operating margin 81.25% 49.40% 34.73%
Net margin 53.41% 35.36% 20.12%
Free cash flow margin 121.84% 40.02% 14.43%
Return on equity 31.59% 9.61% 11.73%
Return on assets 11.21% 4.62% 4.43%
Return on invested capital 11.97% 5.14% 6.10%

Growth

Metric AM DTM Oil & Gas Midstream median
Revenue growth (TTM) 7.34% 13.36% 14.88%
EPS growth (last fiscal year) 3.61% 19.44% (7.78%)
Revenue growth, 5-year CAGR 5.70% 10.51% 10.05%
Net income growth, 5-year CAGR 0.00% 7.17% 0.00%

Health

Metric AM DTM Oil & Gas Midstream median
Debt to equity 1.42 0.66 0.77
Current ratio 0.84 1.16 1.19
Net debt to EBITDA 3.46 3.68 3.46

Dividend

Metric AM DTM Oil & Gas Midstream median
Dividend yield 4.69% 3.05% 4.94%
Payout ratio 0.63 0.75 0.73

Size

Metric AM DTM Oil & Gas Midstream median
Market cap 9.05b 11.52b 3.56b

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