Antero Midstream Corporation (AM) vs Hess Midstream Partners LP (HESM)

Antero Midstream Corporation and Hess Midstream Partners LP are both Oil & Gas Midstream companies. Antero Midstream Corporation is the larger, with a market value of $9.1B against $6.3B — 1.4× the size. Hess Midstream Partners LP trades at the lower P/E: 10.5× against 13.4×. Antero Midstream Corporation grew revenue faster over the last twelve months: 7.34% against −0.60%. Antero Midstream Corporation has the higher net margin (53.4% vs 23.5%) and the lower return on invested capital (12.0% vs 15.7%). Both pay a dividend; Hess Midstream Partners LP yields more (10.3% vs 4.69%). Across the 23 metrics below, Hess Midstream Partners LP leads on 15 and Antero Midstream Corporation on 8.

Valuation

Metric AM HESM Oil & Gas Midstream median
P/E 13.45 10.48 11.68
P/S 7.20 2.43 2.39
P/B 4.11 9.65 1.68
Price to free cash flow 5.91 4.33 8.52
EV/EBITDA 9.50 6.05 9.03
EV/Sales 9.48 4.68 3.43
Earnings yield 7.44% 9.54% 7.78%
Free cash flow yield 16.93% 23.09% 7.11%

Profitability

Metric AM HESM Oil & Gas Midstream median
Gross margin 76.88% 100.00% 54.87%
Operating margin 81.25% 62.70% 34.73%
Net margin 53.41% 23.49% 20.12%
Free cash flow margin 121.84% 56.20% 14.43%
Return on equity 31.59% 90.65% 11.73%
Return on assets 11.21% 8.72% 4.43%
Return on invested capital 11.97% 15.70% 6.10%

Growth

Metric AM HESM Oil & Gas Midstream median
Revenue growth (TTM) 7.34% (0.60%) 14.88%
EPS growth (last fiscal year) 3.61% 14.86% (7.78%)
Revenue growth, 5-year CAGR 5.70% 8.23% 10.05%
Net income growth, 5-year CAGR 0.00% 71.19% 0.00%

Health

Metric AM HESM Oil & Gas Midstream median
Debt to equity 1.42 8.90 0.77
Current ratio 0.84 0.25 1.19
Net debt to EBITDA 3.46 3.05 3.46

Dividend

Metric AM HESM Oil & Gas Midstream median
Dividend yield 4.69% 10.30% 4.94%
Payout ratio 0.63 1.08 0.73

Size

Metric AM HESM Oil & Gas Midstream median
Market cap 9.05b 6.25b 3.56b

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