Antero Midstream Corporation (AM) vs Viper Energy Inc. (VNOM)

Antero Midstream Corporation and Viper Energy Inc. are both Oil & Gas Midstream companies. Viper Energy Inc. is the larger, with a market value of $15.7B against $9.5B — 1.7× the size. Antero Midstream Corporation trades at the lower P/E: 24.6× against 322×. Viper Energy Inc. grew revenue faster over the last twelve months: 107.8% against 6.87%. Antero Midstream Corporation has the higher net margin (32.4% vs 2.89%) and the higher return on invested capital (7.39% vs 1.32%). Both pay a dividend; Viper Energy Inc. yields more (5.44% vs 4.36%). Across the 22 metrics below, Antero Midstream Corporation leads on 12 and Viper Energy Inc. on 10.

Valuation

Metric AM VNOM Oil & Gas Midstream median
P/E 24.57 321.64 12.77
P/S 7.95 4.27 2.36
P/B 5.04 0.85 2.09
Price to free cash flow 8.49 11.42 9.71
EV/EBITDA 14.95 10.02 8.30
EV/Sales 10.63 5.24 3.88
Earnings yield 4.07% 0.31% 7.15%
Free cash flow yield 11.77% 8.76% 6.86%

Profitability

Metric AM VNOM Oil & Gas Midstream median
Gross margin 78.34% 100.00% 56.58%
Operating margin 52.83% 12.30% 34.18%
Net margin 32.36% 2.89% 22.50%
Free cash flow margin 93.59% 37.43% 13.70%
Return on equity 19.80% 0.62% 14.65%
Return on assets 6.60% 0.54% 5.00%
Return on invested capital 7.39% 1.32% 6.13%

Growth

Metric AM VNOM Oil & Gas Midstream median
Revenue growth (TTM) 6.87% 107.84% 15.60%
EPS growth (last fiscal year) 3.61% (112.57%) (7.86%)
Revenue growth, 5-year CAGR 5.70% 40.96% 9.59%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AM VNOM Oil & Gas Midstream median
Debt to equity 1.83 0.16 0.78
Current ratio 0.84 6.37 1.19
Net debt to EBITDA 3.46 4.65 3.42

Dividend

Metric AM VNOM Oil & Gas Midstream median
Dividend yield 4.36% 5.44% 4.54%
Payout ratio 1.07 18.85 0.76

Size

Metric AM VNOM Oil & Gas Midstream median
Market cap 9.46b 15.71b 3.73b

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