Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Antero Midstream Corporation (AM)

Company Dividend Discount ModelIndustry: Oil & Gas MidstreamSector: Energy

Valuation Snapshot

Stable Growth$6.91 - $9.95$8.39
Multi-Stage$12.23 - $13.38$12.79
Blended Fair Value$10.59
Current Price$19.44
Upside-45.51%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-2.47%0.00%0.900.900.890.971.221.030.180.070.000.00
YoY Growth--0.51%0.59%-8.14%-20.09%18.92%473.43%172.75%0.00%-100.00%0.00%
Dividend Yield--5.03%6.36%8.53%8.96%13.50%48.81%1.25%0.41%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)472.42
(-) Cash Dividends Paid (M)440.20
(=) Cash Retained (M)32.22
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)94.4859.0535.43
Cash Retained (M)32.2232.2232.22
(-) Cash Required (M)-94.48-59.05-35.43
(=) Excess Retained (M)-62.26-26.83-3.21
(/) Shares Outstanding (M)483.69483.69483.69
(=) Excess Retained per Share-0.13-0.06-0.01
LTM Dividend per Share0.910.910.91
(+) Excess Retained per Share-0.13-0.06-0.01
(=) Adjusted Dividend0.780.850.90
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Fair Value$6.91$8.39$9.95
Upside / Downside-64.45%-56.82%-48.82%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)472.42467.70463.02458.39453.81449.27462.75
Payout Ratio93.18%92.54%91.91%91.27%90.64%90.00%92.50%
Projected Dividends (M)440.20432.83425.55418.38411.31404.34428.04

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)392.79396.80400.80
Year 2 PV (M)350.47357.65364.92
Year 3 PV (M)312.69322.36332.23
Year 4 PV (M)278.97290.53302.45
Year 5 PV (M)248.87261.83275.33
PV of Terminal Value (M)4,333.224,558.874,793.81
Equity Value (M)5,917.016,188.046,469.53
Shares Outstanding (M)483.69483.69483.69
Fair Value$12.23$12.79$13.38
Upside / Downside-37.07%-34.19%-31.20%

High-Yield Dividend Screener

« Prev Page 11 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
THFFFirst Financial Corporation3.32%$1.9831.67%
IRDMIridium Communications Inc.3.31%$0.5949.66%
PDCOPatterson Companies, Inc.3.31%$1.0466.64%
0HRZ.LCoterra Energy Inc.3.30%$0.8840.64%
ACIAlbertsons Companies, Inc.3.30%$0.5733.33%
KDPKeurig Dr Pepper Inc.3.30%$0.9278.89%
SPBSpectrum Brands Holdings, Inc.3.30%$1.9848.25%
0IUX.LGenuine Parts Company3.29%$4.0569.77%
BGBunge Global S.A.3.29%$3.0531.37%
HDGCXThe Hartford Dividend and Growth Fund Class C3.29%$1.0820.58%
PSBDPalmer Square Capital BDC Inc.3.29%$0.4090.32%
LIENChicago Atlantic BDC, Inc.3.28%$0.3423.50%
REXRRexford Industrial Realty, Inc.3.28%$1.2890.14%
CVCYCentral Valley Community Bancorp3.27%$0.5832.80%
F-PDFord Motor Company 6.500% Notes3.27%$0.7463.45%
FSBWFS Bancorp, Inc.3.27%$1.3331.78%
TRNOTerreno Realty Corporation3.27%$1.9362.02%
0I1P.LComerica Incorporated3.26%$2.8252.30%
ALEXAlexander & Baldwin, Inc.3.26%$0.6766.95%
BRXBrixmor Property Group Inc.3.26%$0.8578.30%
AGM-PCFederal Agricultural Mortgage Corporation3.24%$7.8539.89%
HTOH2O America3.24%$1.6052.08%
WECWEC Energy Group, Inc.3.24%$3.4566.21%
XOMExxon Mobil Corporation3.24%$3.9857.54%
SCLStepan Company3.22%$1.5276.82%
HBTHBT Financial, Inc.3.21%$0.8333.20%
KALUKaiser Aluminum Corporation3.21%$3.8670.13%
SMPStandard Motor Products, Inc.3.20%$1.1838.74%
0QZA.LConocoPhillips3.19%$3.0943.65%
PAGPenske Automotive Group, Inc.3.18%$5.0435.22%
CRBGCorebridge Financial, Inc.3.17%$0.9652.57%
EDConsolidated Edison, Inc.3.17%$3.1756.36%
LARKLandmark Bancorp, Inc.3.17%$0.8238.75%
NBPU.LNB Private Equity Partners Limited3.17%$0.6770.20%
PFBCPreferred Bank3.16%$3.0329.67%
HNIHNI Corporation3.15%$1.3444.63%
RBBRBB Bancorp3.15%$0.6443.45%
FGF&G Annuities & Life, Inc.3.14%$0.9428.23%
NBHCNational Bank Holdings Corporation3.14%$1.1937.27%
0KZA.LSM Energy Company3.13%$0.609.44%
CBUCommunity Bank System, Inc.3.13%$1.8246.85%
DTEDTE Energy Company3.13%$4.0887.19%
RNSTRenasant Corporation3.13%$1.1148.14%
BSRRSierra Bancorp3.11%$1.0134.68%
FCFFirst Commonwealth Financial Corporation3.11%$0.5238.19%
PNCThe PNC Financial Services Group, Inc.3.11%$6.5739.89%
PRKPark National Corporation3.11%$4.8044.20%
GEFGreif, Inc.3.10%$2.1212.04%
0QAH.LMerck & Co., Inc.3.09%$3.2542.60%
BANRBanner Corporation3.09%$1.9335.15%