For the year ending 2025-12-31, AM made $1,188,426K in revenue. $413,163K in net income. Net profit margin of 34.77%.
| Income Statement | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Total revenue | 1,188,426 | 1,106,193 | 1,041,771 | 919,985 |
| Direct operating | 231,910 | 217,976 | 213,165 | 180,254 |
| Loss on settlement of asset retirement obligations | - | - | -805 | -539 |
| General and administrative (including 31,606, 44,332 and 45,958 of equity-based compensation in 2023, 2024 and 2025, respectively) | 87,934 | 86,086 | 71,068 | 62,125 |
| Facility idling | 1,801 | 1,721 | 2,459 | 4,166 |
| Loss (gain) on asset sale | - | -723 | -6,030 | 2,251 |
| Accretion of asset retirement obligations | - | 189 | 177 | 222 |
| Depreciation | 134,310 | 140,000 | 136,059 | 131,762 |
| Impairment of property and equipment | 984 | 332 | 146 | 3,702 |
| Loss on long-lived assets | 86,626 | - | - | - |
| Other operating expense, net | -192 | - | - | - |
| Total operating expenses | 543,757 | 447,027 | 429,909 | 380,519 |
| Operating income | 644,669 | 659,166 | 611,862 | 539,466 |
| Interest expense, net | -190,404 | -207,027 | - | - |
| Equity in earnings of unconsolidated affiliates | 116,439 | 110,573 | 105,456 | 94,218 |
| Loss on early extinguishment of debt | -1,313 | -14,091 | - | - |
| Interest expense, net | - | - | -217,245 | -189,948 |
| Transaction expense | 5,195 | - | - | - |
| Total other expense | -80,473 | -110,545 | -111,789 | -95,730 |
| Income before income taxes | 564,196 | 548,621 | 500,073 | 443,736 |
| Income tax expense | 151,033 | 147,729 | 128,287 | 117,494 |
| Net income and comprehensive income | 413,163 | 400,892 | 371,786 | 326,242 |
| Earnings per share, basic | 0.86 | 0.83 | 0.77 | 0.68 |
| Earnings per share, diluted | 0.86 | 0.83 | 0.77 | 0.68 |
| Weighted average number of shares outstanding, basic | 477,906,000 | 480,822,000 | 479,378,000 | 478,232,000 |
| Weighted average number of shares outstanding, diluted | 482,177,000 | 485,247,000 | 482,372,000 | 480,300,000 |
Antero Midstream Corp (AM)
Antero Midstream Corp (AM)