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 $9.5B against $6.3B — 1.5× the size. Hess Midstream Partners LP trades at the lower P/E: 10.6× against 24.6×. Antero Midstream Corporation grew revenue faster over the last twelve months: 6.87% against 2.78%. Antero Midstream Corporation has the higher net margin (32.4% vs 23.2%) and the lower return on invested capital (7.39% vs 15.4%). Both pay a dividend; Hess Midstream Partners LP yields more (10.1% vs 4.36%). Across the 23 metrics below, Hess Midstream Partners LP leads on 17 and Antero Midstream Corporation on 6.

Valuation

Metric AM HESM Oil & Gas Midstream median
P/E 24.57 10.57 12.77
P/S 7.95 2.44 2.36
P/B 5.04 10.15 2.09
Price to free cash flow 8.49 4.70 9.71
EV/EBITDA 14.95 6.15 8.30
EV/Sales 10.63 4.72 3.88
Earnings yield 4.07% 9.46% 7.15%
Free cash flow yield 11.77% 21.28% 6.86%

Profitability

Metric AM HESM Oil & Gas Midstream median
Gross margin 78.34% 100.00% 56.58%
Operating margin 52.83% 62.06% 34.18%
Net margin 32.36% 23.23% 22.50%
Free cash flow margin 93.59% 51.90% 13.70%
Return on equity 19.80% 83.74% 14.65%
Return on assets 6.60% 8.64% 5.00%
Return on invested capital 7.39% 15.41% 6.13%

Growth

Metric AM HESM Oil & Gas Midstream median
Revenue growth (TTM) 6.87% 2.78% 15.60%
EPS growth (last fiscal year) 3.61% 14.86% (7.86%)
Revenue growth, 5-year CAGR 5.70% 8.23% 9.59%
Net income growth, 5-year CAGR 0.00% 71.19% 0.00%

Health

Metric AM HESM Oil & Gas Midstream median
Debt to equity 1.83 9.48 0.78
Current ratio 0.84 0.77 1.19
Net debt to EBITDA 3.46 3.05 3.42

Dividend

Metric AM HESM Oil & Gas Midstream median
Dividend yield 4.36% 10.07% 4.54%
Payout ratio 1.07 1.06 0.76

Size

Metric AM HESM Oil & Gas Midstream median
Market cap 9.46b 6.31b 3.73b

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