AM (Antero Midstream) EBIT : $733 Mil (TTM As of Sep. 2024)

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What is Antero Midstream EBIT?

Antero Midstream's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2024 was $190 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2024 was $733 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Antero Midstream's annualized ROC % for the quarter that ended in Sep. 2024 was 8.29%. Antero Midstream's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 was 19.54%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Antero Midstream's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2024 was 7.02%.

Antero Midstream EBIT Historical Data

The historical data trend for Antero Midstream's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Antero Midstream EBIT Chart

Antero Midstream Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

Get a 7-Day Free Trial

-347.18

-31.21

624.02

633.68

717.32

Antero Midstream Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
EBIT	Get a 7-Day Free Trial															189.71	183.31	193.72	166.66	189.75

Competitive Comparison of Antero Midstream's EBIT

For the Oil & Gas Midstream subindustry, Antero Midstream's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Antero Midstream's EV-to-EBIT Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Antero Midstream's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Antero Midstream's EV-to-EBIT falls into.

Antero Midstream EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Sep. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $733 Mil.

Antero Midstream (NYSE:AM) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Antero Midstream's annualized ROC % for the quarter that ended in Sep. 2024 is calculated as:

	ROC % (Q: Sep. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2024 )	+	Invested Capital (Q: Sep. 2024 ))	/ count )
=	651.036 * ( 1 - 27.69% )	/	( (5672.262	+	5686.851)	/ 2 )
=	470.7641316	/	5679.5565
=	8.29 %

where

	Invested Capital		(Q: Jun. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	5774.967	-	115.076	-	( 0	-	max(0, 115.969	-	103.598	+	0	))
=	5672.262

	Invested Capital		(Q: Sep. 2024 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	5777.451	-	90.6	-	( 0	-	max(0, 91.52	-	99.876	+	0	))
=	5686.851

Note: The Operating Income data used here is four times the quarterly (Sep. 2024) data.

2. Joel Greenblatt's definition of Return on Capital:

Antero Midstream's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2024		Q: Sep. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	759.016	/	( ( (3868.885 + max(-12.371, 0))	+	(3892.154 + max(8.356, 0)) )	/	2 )
=	759.016	/	( ( 3868.885	+	3900.51 )	/	2 )
=	759.016	/	3884.6975
=	19.54 %

where Working Capital is:

	Working Capital		(Q: Jun. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(102.635	+	0	+	0.96299999999999)	-	(115.076	+	0	+	0.893)
=	-12.371

	Working Capital		(Q: Sep. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(98.573	+	0	+	1.303)	-	(90.6	+	0	+	0.92)
=	8.356

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2024) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Antero Midstream's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2024 )
	=	733.447	/	10444.470
	=	7.02 %

Antero Midstream EBIT Related Terms

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Antero Midstream Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Antero Midstream Corp (NYSE:AM) » Definitions » EBIT

Comparable Companies

ENLC DTM FRO ETRN PAGP STNG CEQP HEP GLNG INSW TSX:ENB EPD WMB ET LNG OKE MPLX KMI TSX:TRP CQP

Traded in Other Exchanges

5711:Germany

Address

1615 Wynkoop Street, Denver, CO, USA, 80202

Website

https://www.anteromidstream.com

Antero Midstream Corp is a midstream company that owns, operates, and develops midstream energy infrastructure services and production activity in the Appalachian Basin's Marcellus Shale and Utica Shale located in West Virginia and Ohio. The company has two operating segments; the Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collect and process production from Antero Resources wells in West Virginia and Ohio and the Water Handling segment includes two independent systems that deliver water from sources including the Ohio River, local reservoirs and several regional waterways. It derives a majority of its revenue from the Gathering and Processing segment.

Executives

Brooks J Klimley	director
Sheri Pearce	officer: See Remarks	1615 WYNKOOP ST., DENVER CO 80202
Janine J Mcardle	director	9337B KATY FREEWAY, #155, HOUSTON TX 77024
Michael N. Kennedy	officer: Chief Financial Officer	707 - 17TH STREET, SUITE 3600, DENVER CO 80202
David H Keyte	director	1615 WYNKOOP STREET, DENVER CO 80902
Nancy Chisholm	director	1615 WYNKOOP STREET, DENVER CO 80202
Keenan W Howard Jr	director	410 PARK AVENUE, 20TH FLOOR, NEW YORK NY 10022
Brendan E. Krueger	officer: See Remarks	1615 WYNKOOP STREET, DENVER CO 80202
Yvette K Schultz	officer: See Remarks	1615 WYNKOOP STREET, DENVER CO 80202
Paul M Rady	director, officer: Chairman & CEO	1625 17TH STREET, DENVER CO 80202
Warren Glen C Jr	director, officer: President & Secretary	1625 17TH STREET, DENVER CO 80202
K. Phil Yoo	officer: VP-Accounting, CAO	1625 17TH STREET, DENVER CO 80202
Warburg Pincus Private Equity X O&g, L.p.	director, 10 percent owner	C/O WARBURG PINCUS LLC, 450 LEXINGTON AVENUE, NEW YORK NY 10017
Peter Kagan	director	C/O WARBURG PINCUS LLC, 450 LEXINGTON AVENUE, NEW YORK NY 10017
Yorktown Energy Partners Viii, L.p.	director, 10 percent owner	410 PARK AVENUE, 20TH FLOOR, NEW YORK NY 10022