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Antero MidstreamAM +1.12%75 EV-to-OCF is 14.90 as of Jul. 16, 2026, which is 22% above its 10-year median of 12.22. GuruFocus rates AM with a GF Score™ of 75/100 and a GF Value™ of $17.28 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,015 Oil & Gas companies, Antero Midstream ranks worse than 81.67% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Antero Midstream's Enterprise Value is $14,480 Mil.
Antero Midstream's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was $972 Mil. Therefore, Antero Midstream's EV-to-OCF for today is 14.90.
The historical rank and industry rank for Antero Midstream's EV-to-OCF or its related term are showing as below:
AM'
s EV-to-OCF Range Over the Past 10 Years
Min: 6.15 Med: 12.22 Max: 46.39
Current: 14.9
During the past 11 years, the highest EV-to-OCF of Antero Midstream was 46.39. The lowest was 6.15. And the median was 12.22.
AM's EV-to-OCF is ranked worse than 81.67% of 1015
companies
in the Oil & Gas industry
Industry Median: 5.75
vs AM: 14.90
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 $22.67.
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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Antero Midstream EV-to-OCF Related Terms
Antero Midstream EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Antero Midstream's EV-to-OCF 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-OCF, along with its competitors' market caps and EV-to-OCF 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-OCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Antero Midstream's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Antero Midstream's EV-to-OCF falls into.
Antero Midstream's current Enterprise Value is $14,480 Mil.
Antero Midstream's Cash Flow from Operations 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 $972 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-OCF of 14.90 as of Jul. 16, 2026. This is 22% above median its historical median of 12.22. Over the past decade, Antero Midstream's EV-to-OCF has ranged from 6.15 to 46.39. According to the industry distribution chart, Antero Midstream ranks #829 out of 1015 companies in the Oil & Gas industry, placing it in the top 81.7%.
Is Antero Midstream's EV-to-OCF too high?
Antero Midstream's current EV-to-OCF of 14.90 is 22% above median its 10-year median of 12.22. Over the past 10 years, this metric has ranged from a low of 6.15 to a high of 46.39. The Oil & Gas industry median EV-to-OCF is 5.75. Antero Midstream's value of 14.90 is 159.1% above this industry median. Based on the distribution chart, Antero Midstream ranks #829 out of 1015 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 Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Antero Midstream's EV-to-OCF compare to VNOM and FRO?
According to the Oil & Gas industry distribution chart, Antero Midstream ranks #829 out of 1015 companies for EV-to-OCF. This places Antero Midstream in the lower half of its industry. The industry median EV-to-OCF is 5.75. Antero Midstream's value of 14.90 is 159.1% above this benchmark. Historically, Antero Midstream's own EV-to-OCF has ranged from 6.15 to 46.39 over the past decade. While the company's 10-year median is 12.22 vs. the industry median of 5.75, 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-OCF for an Oil & Gas company?
The median EV-to-OCF among Oil & Gas companies is 5.75, based on 1,015 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Antero Midstream's current EV-to-OCF of 14.90 is 159.1% 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-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median EV-to-OCF is 5.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Antero Midstream's current EV-to-OCF is 14.90, which is 22% above median its own 10-year median of 12.22. 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 Significantly Overvalued. The stock's GF Value™ is $17.28, compared to a current price of $22.67 — trading 31.2% above its estimated fair value. The current EV-to-OCF is 14.90, which is 22% above median its 10-year median of 12.22 and 159.1% above the Oil & Gas industry median of 5.75. 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-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Antero Midstream (AM), the current EV-to-OCF is 14.90 as of Jul. 16, 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 $22.67 is trading 31.2% above its estimated GF Value™ of $17.28.
GuruFocus considers Antero Midstream to be Significantly Overvalued.
Key valuation signals for AM:
EV-to-OCF: 14.90 (22% above median its 10-year median of 12.22)
GF Value™: $17.28 vs. price of $22.67 (31.2% above fair value)
Industry Position: 159.1% above the Oil & Gas median (#829 of 1015)
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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