Stock fact sheet · data as of
Antero Midstream Corporation (AM): fair value, margin of safety and Wheel Score
Ticker symbol AM · Energy · Oil & Gas Midstream · United States · Blend Income
Is AM undervalued?
At 19.86 (close of 5 Nov 2026), AM trades 27% under the GLS average fair value of 27.31. 4 of the 9 models that produced a value land above the price. A discount of this size counts as a positive margin of safety in every GLS scan; whether it is enough depends on the rest of the picture - the health score, the moat and the option premium below.
The 9 models disagree widely: GLS Growth gives 10.05 while 10 Cap gives 64.40. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for AM, so the nightly engine files it under Blend (value score 43, growth score 43, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for AM
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 25.90 | +30% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 12.24 | -38% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 34.22 | +72% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 11.44 | -42% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 10.05 | -49% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 64.40 | +224% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 58.49 | +195% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 13.24 | -33% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 15.84 | -20% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -7.48 | -138% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 24.00 | +21% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - AM passes 5 of the nine Piotroski tests, which falls one point short of the "Piotroski 6 or more" Wheel Trade Filter. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 6.0 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are moderate - ROIC 8.0%, ROE 21.0%, ROA 7.0% - with debt at 1.63 times equity and a free-cash-flow yield of 13.4%.
The dividend yield is high at 4.53% (payout ratio 64%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Natural Gas Gathering Transportation Ma… 77%, Natural Gas Water Handling And Treatmen… 23%, Natural Gas Water Handling And Treatment 0% (quarter Q3 FY2026).
Institutional ownership scores 8/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales; the last recorded insider buy was on 10 Oct 2026.
| Piotroski F-score | 5 / 9 | ROIC | 8.0% |
|---|---|---|---|
| GLS Moat | 6.0 / 10 | ROE | 21.0% |
| Debt / equity | 1.63 | ROA | 7.0% |
| Free-cash-flow yield | 13.4% | Payout ratio | 64% |
| Institutions | 8 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 44: Weak
AM scores 44 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 4, financially healthy - Piotroski 5/9 (under 6); and filter 5, can repay its debt - 3.5 years to repay its debt (over 3); and filter 6, no serious red flags - Red Flags score 55 (under 60), and the parts are thin too - value strong, premium good, moat good, health fair, red flags weak, option trading good, stability good. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 30% on the near-the-money contracts 20-60 days out: enough to pass the 25-80% Wheel Trade Filter, but under the 35-60% sweet spot the score rewards most. Chain open interest is 32,478 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 4.6M shares a day on a market cap of $9.4B, with a beta of 0.63 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that good.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 5/9 (under 6) |
| 5 | Can repay its debt | Fails | 3.5 years to repay its debt (over 3) |
| 6 | No serious red flags | Fails | Red Flags score 55 (under 60) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 27% below fair value | |
| Premium | Good | implied volatility 30% | |
| Moat | Good | moat 6.0/10 | |
| Health | Fair | Piotroski 5/9 | |
| Red Flags | Weak | Red Flags score 55/100 | |
| Option trading | Good | 3,539 contracts a day, 32,478 open interest | |
| Stability | Good | beta 0.63, $9.4B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for AM in the nightly calendar.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Oil & Gas Midstream
The 12 companies below are the closest to Antero Midstream Corporation by market cap within the Oil & Gas Midstream industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| DTM DT Midstream, Inc. | 117.58 | 81.85 | -44% | 34Weak | $12.0B |
| SOBO South Bow Corporation | 34.05 | 45.58 | +25% | 50Fair | $7.1B |
| HESM Hess Midstream LP | 31.80 | 50.30 | +37% | 54Fair | $6.6B |
| VNOM Viper Energy, Inc. | 41.06 | 47.78 | +14% | 74Good | $14.7B |
| PAGP Plains GP Holdings LP | 26.93 | 67.82 | +60% | 41Weak | $5.3B |
| WES Western Midstream Partners, LP | 42.54 | 49.40 | +14% | 37Weak | $17.6B |
| PAA Plains All American Pipeline, L.P. | 25.21 | 51.86 | +51% | 50Fair | $17.8B |
| GLNG Golar LNG Limited | 44.88 | 34.79 | -29% | 40Weak | $4.6B |
| TCPA TransCanada PipeLines Limited 6 | 21.13 | 37.12 | +43% | 34No options | $21.4B |
| KNTK Kinetik Holdings Inc. | 51.17 | 203.51 | +75% | 47Weak | $4.1B |
| EE Excelerate Energy, Inc. | 34.29 | 63.78 | +46% | 80Good | $3.9B |
| CQP Cheniere Energy Partners, L.P. | 56.68 | 123.94 | +54% | 51Fair | $27.4B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about AM
Is AM undervalued right now?
By the GLS models, moderately: at 19.86 the stock trades 27% below the average fair value of 27.31 (data as of 5 Nov 2026).
What is the Wheel Score of AM and what does it mean?
AM scores 44 out of 100 (Weak) - it fails Wheel Trade Filters 4, 5, 6. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for AM?
27.31 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Antero Midstream Corporation report earnings next?
No upcoming earnings date is recorded for AM in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does AM have listed options, and how liquid are they?
Yes. The nightly snapshot found 100 listed contracts with 32,478 open interest across all expiries and implied volatility of 30% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.