Antero Midstream Partners LP (AM) financial statements
Antero Midstream Partners LP reported revenue of $1.2B in fiscal 2025, up 60.4% a year over 9 years.
Net income was $413M and the operating margin 54.2%, against 95.2% in 2016.
The diluted share count rose 159% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Antero Midstream Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17M | $70M | $143M | $793M | $901M | $898M | $920M | $1.0B | $1.1B | $1.2B |
| Selling, general and admin | $814,000 | $41M | $44M | $118M | $52M | $64M | $62M | $71M | $86M | $88M |
| Operating income | $16M | -$41M | -$44M | -$398M | -$118M | $555M | $539M | $612M | $659M | $645M |
| Pre-tax income | $16M | $29M | $99M | -$458M | -$178M | $449M | $444M | $500M | $549M | $564M |
| Income tax | $6M | $26M | $32M | -$102M | -$56M | $117M | $117M | $128M | $148M | $151M |
| Net income | $10M | $5M | $61M | -$355M | -$123M | $332M | $326M | $372M | $401M | $413M |
| EPS (diluted) | — | $0.03 | $0.33 | -$0.80 | -$0.26 | $0.69 | $0.68 | $0.77 | $0.83 | $0.86 |
| Diluted shares | — | 186M | 186M | 443M | 478M | 480M | 480M | 482M | 485M | 482M |
| Operating margin | 95.2% | -59.0% | -30.7% | -50.3% | -13.1% | 61.8% | 58.6% | 58.7% | 59.6% | 54.2% |
| Net margin | 57.3% | 7.1% | 42.9% | -44.8% | -13.6% | 36.9% | 35.5% | 35.7% | 36.2% | 34.8% |
Balance sheet
Fiscal years, from Antero Midstream Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $10M | $6M | $3M | $1M | $640,000 | — | $0 | $66,000 | — | $180M |
| Receivables | — | — | — | $5M | $839,000 | $747,000 | $575,000 | — | — | — |
| Total current assets | $10M | $6M | $3M | $109M | $94M | $84M | $89M | $91M | $118M | $380M |
| Property, plant and equipment | — | — | — | $3.3B | $3.3B | $3.4B | $3.8B | $3.8B | $3.9B | $3.5B |
| Goodwill | — | — | — | $575M | — | — | — | — | — | — |
| Total assets | $17M | $30M | $48M | $6.3B | $5.6B | $5.5B | $5.8B | $5.7B | $5.8B | $5.9B |
| Total current liabilities | $7M | $14M | $17M | $242M | $94M | $114M | $102M | $96M | $101M | $111M |
| Long-term debt | — | — | — | $2.9B | $3.1B | $3.1B | $3.4B | $3.2B | $3.1B | $3.2B |
| Total liabilities | $7M | $14M | $17M | $3.1B | $3.2B | $3.3B | $3.6B | $3.6B | $3.6B | $3.9B |
| Shareholders' equity | — | — | $31M | $3.1B | $2.4B | $2.3B | $2.2B | $2.2B | $2.1B | $2.0B |
| Net debt | -$10M | -$6M | -$3M | $2.9B | $3.1B | — | $3.4B | $3.2B | — | $3.0B |
Cash flow
Fiscal years, from Antero Midstream Partners LP's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $10M | $28M | $84M | $622M | $753M | $710M | $700M | $779M | $844M | $932M |
| Capital spending | — | — | — | $267M | $158M | — | $217M | $266,000 | $70M | — |
| Free cash flow | — | — | — | $355M | $595M | — | $483M | $779M | $774M | — |
| Stock-based compensation | — | $35M | $35M | $74M | $13M | $14M | $20M | $32M | $44M | $46M |
| Dividends paid | — | $16M | $84M | $492M | $590M | $471M | $433M | $435M | $438M | $439M |
| Share buybacks (net) | — | — | — | -$126M | -$25M | — | — | — | -$29M | -$135M |
| Free cash flow margin | — | — | — | 44.8% | 66.1% | — | 52.5% | 74.8% | 70.0% | — |
| Dividends per share | — | $0.09 | $0.45 | $1.11 | $1.23 | $0.98 | $0.90 | $0.90 | $0.90 | $0.91 |
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What was Antero Midstream Partners LP's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
From Antero Midstream Partners LP's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.