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 $14.4B against $9.1B — 1.6× the size. Antero Midstream Corporation trades at the lower P/E: 13.4× against 18.1×. Viper Energy Inc. grew revenue faster over the last twelve months: 92.1% against 7.34%. Antero Midstream Corporation has the higher net margin (53.4% vs 12.1%) and the higher return on invested capital (12.0% vs 4.01%). Both pay a dividend; Viper Energy Inc. yields more (6.14% vs 4.69%). Across the 22 metrics below, Antero Midstream Corporation leads on 13 and Viper Energy Inc. on 9.

Valuation

Metric AM VNOM Oil & Gas Midstream median
P/E 13.45 18.10 11.68
P/S 7.20 3.39 2.39
P/B 4.11 0.74 1.68
Price to free cash flow 5.91 74.48 8.52
EV/EBITDA 9.50 9.84 9.03
EV/Sales 9.48 4.60 3.43
Earnings yield 7.44% 5.53% 7.78%
Free cash flow yield 16.93% 1.34% 7.11%

Profitability

Metric AM VNOM Oil & Gas Midstream median
Gross margin 76.88% 100.00% 54.87%
Operating margin 81.25% 36.16% 34.73%
Net margin 53.41% 12.08% 20.12%
Free cash flow margin 121.84% 4.55% 14.43%
Return on equity 31.59% 2.58% 11.73%
Return on assets 11.21% 2.07% 4.43%
Return on invested capital 11.97% 4.01% 6.10%

Growth

Metric AM VNOM Oil & Gas Midstream median
Revenue growth (TTM) 7.34% 92.09% 14.88%
EPS growth (last fiscal year) 3.61% (112.57%) (7.78%)
Revenue growth, 5-year CAGR 5.70% 40.96% 10.05%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AM VNOM Oil & Gas Midstream median
Debt to equity 1.42 0.23 0.77
Current ratio 0.84 5.92 1.19
Net debt to EBITDA 3.46 4.65 3.46

Dividend

Metric AM VNOM Oil & Gas Midstream median
Dividend yield 4.69% 6.14% 4.94%
Payout ratio 0.63 1.12 0.73

Size

Metric AM VNOM Oil & Gas Midstream median
Market cap 9.05b 14.36b 3.56b

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