Antero MidstreamAM -0.20%81 PE Ratio (TTM) is 25.77 as of Jun. 24, 2026, which is 57% above its 10-year median of 16.43. GuruFocus rates AM with a GF Score™ of 81/100 and a GF Value™ of $17.30 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 618 Oil & Gas companies, Antero Midstream ranks worse than 75.24% on this metric.
The PE Ratio (TTM), or Price-to-Earnings ratio, or P/E Ratio, is a financial ratio used to compare a company's market price to its Earnings per Share (Diluted). As of today (2026-06-24), Antero Midstream's share price is
$22.165.
Antero Midstream's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was $0.86. Therefore, Antero Midstream's PE Ratio (TTM) for today is 25.77.
Warning Sign:
Antero Midstream Corp stock PE Ratio (=25.83) is close to 10-year high of 26.97.
The historical rank and industry rank for Antero Midstream's PE Ratio (TTM) or its related term are showing as below:
AM'
s PE Ratio (TTM) Range Over the Past 10 Years
Min: 4.91 Med: 16.43 Max: 26.97
Current: 25.77
During the past 11 years, the highest PE Ratio (TTM) of Antero Midstream was 26.97. The lowest was 4.91. And the median was 16.43.
AM's PE Ratio (TTM) is ranked worse than 75.24% of 618
companies
in the Oil & Gas industry
Industry Median: 14.51
vs AM: 25.77
During the past 12 months, Antero Midstream's average EPS without NRIGrowth Rate was 12.30% per year.
During the past 3 years, the average EPS without NRIGrowth Rate was 13.80% per year.
During the past 5 years, the average EPS without NRIGrowth Rate was 6.70% per year.
During the past 10 years, the average EPS without NRIGrowth Rate was 58.00% per year.
During the past 11 years, Antero Midstream's highest 3-Year average EPS without NRI Growth Rate was 335.30% per year. The lowest was 2.60% per year. And the median was 22.25% per year.
Antero Midstream's EPS (Basic) for the
three
months ended in Mar. 2026 was $0.25.
Its EPS (Basic) for the trailing twelve months (TTM) ended in Mar. 2026 was $0.86.
Antero Midstream (NYSE:AM) PE Ratio (TTM) Explanation
The PE Ratio (TTM) can be viewed as the number of years it takes for the company to earn back the price you pay for the stock. For example, if a company earns $2 a share per year, and the stock is traded at $30, the PE Ratio (TTM) is 15. Therefore it takes 15 years for the company to earn back the $30 you paid for its stock, assuming the earnings stays constant over the next 15 years.
In real business, earnings never stay constant. If a company can grow its earnings, it takes fewer years for the company to earn back the price you pay for the stock. If a company's earnings decline it takes more years. As a shareholder, you want the company to earn back the price you pay as soon as possible. Therefore, lower P/E stocks are more attractive than higher P/E stocks so long as the PE Ratio (TTM) is positive. Also for stocks with the same PE Ratio (TTM), the one with faster growth business is more attractive.
If a company loses money, the PE Ratio (TTM) becomes meaningless.
To compare stocks with different growth rates, Peter Lynch invented a ratio called PEG Ratio. PEG Ratio is defined as the PE Ratio (TTM) divided by the growth ratio. He thinks a company with a PE Ratio (TTM) equal to its growth rate is fairly valued. Still he said he would rather buy a company growing 20% a year with a PE Ratio (TTM) of 20, instead of a company growing 10% a year with a PE Ratio (TTM) of 10.
Because the PE Ratio (TTM) measures how long it takes to earn back the price you pay, the PE Ratio (TTM) can be applied to the stocks across different industries. That is why it is the one of the most important and widely used indicators for the valuation of stocks.
Investors need to be aware that the PE Ratio (TTM) can be misleading a lot of times, especially when the underlying business is cyclical and unpredictable. As Peter Lynch pointed out, cyclical businesses have higher profit margins at the peaks of the business cycles. Their earnings are high and PE Ratio (TTM)s are artificially low. It is usually a bad idea to buy a cyclical business when the PE Ratio (TTM) is low. A better ratio to identify the time to buy a cyclical businesses is the PS Ratio .
PE Ratio (TTM) can also be affected by non-recurring-items such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio (TTM).
Antero Midstream PE Ratio (TTM) Related Terms
Antero Midstream PE Ratio (TTM) Historical Data
* Premium members only.
The historical data trend for Antero Midstream's PE Ratio (TTM) 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 PE Ratio (TTM), along with its competitors' market caps and PE Ratio (TTM) 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 PE Ratio (TTM) vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Antero Midstream's PE Ratio (TTM) distribution charts can be found below:
* The bar in red indicates where Antero Midstream's PE Ratio (TTM) falls into.
The PE Ratio (TTM), or Price-to-Earnings ratio, or P/E Ratio, is a financial ratio used to compare a company's market price to its Earnings per Share (Diluted). It is the most widely used ratio in the valuation of stocks.
Antero Midstream's Share Price of today is $22.165.
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 $0.86.
* 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.
It can also be calculated from the numbers for the whole company:
There are at least three kinds of PE Ratio (TTM)s used by different investors. They are Trailing Twelve Month PE Ratio (TTM) or PE Ratio (TTM) (TTM), Forward PE Ratio, or PE Ratio without NRI. A new PE Ratio (TTM) based on inflation-adjusted normalized PE Ratio (TTM) is called Shiller PE Ratio, after Yale professor Robert Shiller.
In the calculation of PE Ratio (TTM), the earnings per share used are the earnings per share over the past 12 months. For Forward PE Ratio, the earnings are the expected earnings for the next twelve months. In the case of PE Ratio without NRI, the reported earnings less the non-recurring items are used.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. Since it looks at the average over the last 10 years, Shiller PE Ratio is also called PE10.
Antero Midstream (AM) has a PE Ratio (TTM) of 25.77 as of Jun. 24, 2026. Trailing 12-month P/E ratio is the ratio of share price to a company's trailing 12-month earnings per share. View historical data on Antero Midstream and its competitors. This is 57% above median its historical median of 16.43. Over the past decade, Antero Midstream's PE Ratio (TTM) has ranged from 4.91 to 26.97. According to the industry distribution chart, Antero Midstream ranks #465 out of 618 companies in the Oil & Gas industry, placing it in the top 75.2%.
Is Antero Midstream's PE Ratio (TTM) too high?
Antero Midstream's current PE Ratio (TTM) of 25.77 is 57% above median its 10-year median of 16.43. Over the past 10 years, this metric has ranged from a low of 4.91 to a high of 26.97. The Oil & Gas industry median PE Ratio (TTM) is 14.51. Antero Midstream's value of 25.77 is 77.6% above this industry median. Based on the distribution chart, Antero Midstream ranks #465 out of 618 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Antero Midstream has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Antero Midstream's PE Ratio (TTM) compare to VNOM and FRO?
According to the Oil & Gas industry distribution chart, Antero Midstream ranks #465 out of 618 companies for PE Ratio (TTM). This places Antero Midstream in the lower half of its industry. The industry median PE Ratio (TTM) is 14.51. Antero Midstream's value of 25.77 is 77.6% above this benchmark. Historically, Antero Midstream's own PE Ratio (TTM) has ranged from 4.91 to 26.97 over the past decade. While the company's 10-year median is 16.43 vs. the industry median of 14.51, 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 PE Ratio (TTM) for an Oil & Gas company?
The median PE Ratio (TTM) among Oil & Gas companies is 14.51, based on 618 companies in the industry. Companies in the top quartile (top 25%) have a PE Ratio (TTM) significantly above this median, while those in the bottom quartile fall well below. However, PE Ratio (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Antero Midstream's current PE Ratio (TTM) of 25.77 is 77.6% 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 PE Ratio (TTM) mean?
A high PE Ratio (TTM) can signal that a stock is expensive relative to its fundamentals. Trailing 12-month P/E ratio is the ratio of share price to a company's trailing 12-month earnings per share. View historical data on Antero Midstream and its competitors. For the Oil & Gas industry, the median PE Ratio (TTM) is 14.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Antero Midstream's current PE Ratio (TTM) is 25.77, which is 57% above median its own 10-year median of 16.43. 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 $17.30, compared to a current price of $22.17 — trading 28.1% above its estimated fair value. The current PE Ratio (TTM) is 25.77, which is 57% above median its 10-year median of 16.43 and 77.6% above the Oil & Gas industry median of 14.51. Antero Midstream's overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PE Ratio (TTM) calculated?
PE Ratio (TTM) is calculated from a company's financial statements. For Antero Midstream (AM), the current PE Ratio (TTM) is 25.77 as of Jun. 24, 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 $22.17 is trading 28.1% above its estimated GF Value™ of $17.30.
GuruFocus considers Antero Midstream to be Modestly Overvalued.
Key valuation signals for AM:
PE Ratio (TTM): 25.77 (57% above median its 10-year median of 16.43)
GF Value™: $17.30 vs. price of $22.17 (28.1% above fair value)
Industry Position: 77.6% above the Oil & Gas median (#465 of 618)
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.
81GF Score
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