Antero MidstreamAM -1.33%75 EV-to-EBITDA is 14.74 as of Jul. 10, 2026, which is 43% above its 10-year median of 10.33. GuruFocus rates AM with a GF Score™ of 75/100 and a GF Value™ of $17.32 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 754 Oil & Gas companies, Antero Midstream ranks worse than 80.11% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Antero Midstream's enterprise value is $14,295 Mil.
Antero Midstream's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was $970 Mil. Therefore, Antero Midstream's EV-to-EBITDA for today is 14.74.
The historical rank and industry rank for Antero Midstream's EV-to-EBITDA or its related term are showing as below:
AM'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -202.81 Med: 10.33 Max: 58.45
Current: 14.74
During the past 11 years, the highest EV-to-EBITDA of Antero Midstream was 58.45. The lowest was -202.81. And the median was 10.33.
AM's EV-to-EBITDA is ranked worse than 80.11% of 754
companies
in the Oil & Gas industry
Industry Median: 7.53
vs AM: 14.74
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
Antero Midstream (NYSE:AM) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Antero Midstream's PE Ratio (TTM) for today is calculated as:
Antero Midstream's share price for today is $22.28.
Antero Midstream's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.860.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Antero Midstream's EV-to-EBITDA 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.
For the Oil & Gas Midstream subindustry, Antero Midstream's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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 EV-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Antero Midstream's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Antero Midstream's EV-to-EBITDA falls into.
Antero Midstream's current Enterprise Value is $14,295 Mil.
Antero Midstream's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $970 Mil.
* 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.
Antero Midstream (AM) has a EV-to-EBITDA of 14.74 as of Jul. 10, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Antero Midstream. This is 43% above median its historical median of 10.33. According to the industry distribution chart, Antero Midstream ranks #604 out of 754 companies in the Oil & Gas industry, placing it in the top 80.1%.
Is Antero Midstream's EV-to-EBITDA too high?
Antero Midstream's current EV-to-EBITDA of 14.74 is 43% above median its 10-year median of 10.33. The Oil & Gas industry median EV-to-EBITDA is 7.53. Antero Midstream's value of 14.74 is 95.8% above this industry median. Based on the distribution chart, Antero Midstream ranks #604 out of 754 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Antero Midstream has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Antero Midstream's EV-to-EBITDA compare to VNOM and FRO?
According to the Oil & Gas industry distribution chart, Antero Midstream ranks #604 out of 754 companies for EV-to-EBITDA. This places Antero Midstream in the lower half of its industry. The industry median EV-to-EBITDA is 7.53. Antero Midstream's value of 14.74 is 95.8% above this benchmark. While the company's 10-year median is 10.33 vs. the industry median of 7.53, Antero Midstream has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Oil & Gas company?
The median EV-to-EBITDA among Oil & Gas companies is 7.53, based on 754 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Antero Midstream's current EV-to-EBITDA of 14.74 is 95.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Antero Midstream. For the Oil & Gas industry, the median EV-to-EBITDA is 7.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Antero Midstream's current EV-to-EBITDA is 14.74, which is 43% above median its own 10-year median of 10.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Antero Midstream stock overvalued right now?
Based on GuruFocus' analysis, Antero Midstream (AM) is currently considered Modestly Overvalued. The stock's GF Value™ is $17.32, compared to a current price of $22.28 — trading 28.6% above its estimated fair value. The current EV-to-EBITDA is 14.74, which is 43% above median its 10-year median of 10.33 and 95.8% above the Oil & Gas industry median of 7.53. Antero Midstream's overall GF Score™ is 75/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Antero Midstream (AM), the current EV-to-EBITDA is 14.74 as of Jul. 10, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Antero Midstream (AM) Overvalued in 2026?
Based on GuruFocus' analysis, Antero Midstream stock appears to be overvalued.
The current stock price of $22.28 is trading 28.6% above its estimated GF Value™ of $17.32.
GuruFocus considers Antero Midstream to be Modestly Overvalued.
Key valuation signals for AM:
EV-to-EBITDA: 14.74 (43% above median its 10-year median of 10.33)
GF Value™: $17.32 vs. price of $22.28 (28.6% above fair value)
Industry Position: 95.8% above the Oil & Gas median (#604 of 754)
No single metric tells the full story. See the AM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Antero Midstream Corp is a midstream company that owns, operates, and develops midstream energy assets that service Antero Resources' production and completion activity in the Appalachian Basin, located in West Virginia and Ohio. The company has two operating segments: the Gathering and Processing segment, which 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, which includes two independent systems that deliver water from sources including the Ohio River, local reservoirs, and several regional waterways. The company derives a majority of its revenue from the Gathering and Processing segment.
75GF Score
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