AM
Antero Midstream Corporation
Oil & Gas Midstream
Market Cap$10.35B
5Y Perf.+342.7%
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Stock Comparison
AM vs DKL
Revenue, margins, valuation, and 5-year total return — side by side.
DKL
Delek Logistics Partners, LP
Oil & Gas Midstream
Market Cap$2.80B
5Y Perf.+115.2%
AM vs DKL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | AM | DKL |
|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $10.35B | $2.80B |
| Revenue (TTM) | $1.29B | $1.06B |
| Net Income (TTM) | $411M | $170M |
| Gross Margin | 64.5% | 19.2% |
| Operating Margin | 57.6% | 16.5% |
| Forward P/E | 19.1x | 13.9x |
| Total Debt | $3.22B | $35M |
| Cash & Equiv. | $180M | $11M |
AM vs DKL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
AM
DKL
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Antero Midstream Co… (AM) | 100 | 442.7 | +342.7% |
| Delek Logistics Par… (DKL) | 100 | 215.2 | +115.2% |
Price return only. Dividends and distributions are not included.
Quick Verdict: AM vs DKL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: DKL leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. Antero Midstream Corporation is the stronger pick specifically for profitability and margin quality and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
AM
Antero Midstream Corporation
The Defensive Pick
AM is the clearest fit if your priority is sleep-well-at-night and defensive.
- Lower volatility, beta 0.19, current ratio 3.41x
- Beta 0.19, yield 4.2%, current ratio 3.41x
- 31.9% margin vs DKL's 16.0%
Best for: sleep-well-at-night and defensive
DKL
Delek Logistics Partners, LP
The Income Pick
DKL carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 5 yrs, beta 0.35, yield 8.5%
- Rev growth 7.7%, EPS growth 10.4%, 3Y rev CAGR -0.7%
- 174.8% 10Y total return vs AM's -12.2%
Best for: income & stability and growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | DKL | 7.7% revenue growth vs AM's 7.0% |
| Value | DKL | Lower P/E (13.9x vs 19.1x) |
| Quality / Margins | AM | 31.9% margin vs DKL's 16.0% |
| Stability / Safety | AM | Beta 0.19 vs DKL's 0.35, lower leverage |
| Dividends | DKL | 8.5% yield, 5-year raise streak, vs AM's 4.2% |
| Momentum (1Y) | DKL | +51.2% vs AM's +29.2% |
| Efficiency (ROA) | AM | 6.9% ROA vs DKL's 6.1%, ROIC 9.4% vs 14.1% |
AM vs DKL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2023
AM vs DKL — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLAMLAGGINGDKL
DKLDelek Logistics Partn…
2leads
AMAntero Midstream Corp…
3leads
6 Total Categories
CATEGORYLEADERvs DKLMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
AM5/6
Valuation MetricsMultiples, price ratios, and targets
DKL4/5
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
AM5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
AM4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
DKL2/2
Income & Cash Flow (Last 12 Months)
AM leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
AM and DKL operate at a comparable scale, with $1.3B and $1.1B in trailing revenue. AM is the more profitable business, keeping 31.9% of every revenue dollar as net income compared to DKL's 16.0%. On growth, DKL holds the edge at +19.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | AMAntero Midstream … | DKLDelek Logistics P… |
|---|---|---|
| RevenueTrailing 12 months | $1.3B | $1.1B |
| EBITDAEarnings before interest/tax | $951M | $310M |
| Net IncomeAfter-tax profit | $411M | $170M |
| Free Cash FlowCash after capex | $916M | $112M |
| Gross MarginGross profit ÷ Revenue | +64.5% | +19.2% |
| Operating MarginEBIT ÷ Revenue | +57.6% | +16.5% |
| Net MarginNet income ÷ Revenue | +31.9% | +16.0% |
| FCF MarginFCF ÷ Revenue | +71.2% | +10.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +8.6% | +19.0% |
| EPS Growth (YoY)Latest quarter vs prior year | 0.0% | -17.8% |
AM leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
DKL leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
At 15.9x trailing earnings, DKL trades at a 37% valuation discount to AM's 25.3x P/E. On an enterprise value basis, DKL's 9.1x EV/EBITDA is more attractive than AM's 15.8x.
| Metric | AMAntero Midstream … | DKLDelek Logistics P… |
|---|---|---|
| Market CapShares × price | $10.3B | $2.8B |
| Enterprise ValueMkt cap + debt − cash | $13.4B | $2.8B |
| Trailing P/EPrice ÷ TTM EPS | 25.33x | 15.93x |
| Forward P/EPrice ÷ next-FY EPS est. | 19.14x | 13.88x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 15.76x | 9.07x |
| Price / SalesMarket cap ÷ Revenue | 8.22x | 2.76x |
| Price / BookPrice ÷ Book value/share | 5.33x | 460.55x |
| Price / FCFMarket cap ÷ FCF | 13.43x | — |
DKL leads this category, winning 4 of 5 comparable metrics.
Profitability & Efficiency
AM leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
DKL delivers a 19.2% return on equity — every $100 of shareholder capital generates $19 in annual profit, vs $20 for AM. AM carries lower financial leverage with a 1.63x debt-to-equity ratio, signaling a more conservative balance sheet compared to DKL's 5.75x. On the Piotroski fundamental quality scale (0–9), AM scores 8/9 vs DKL's 4/9, reflecting strong financial health.
| Metric | AMAntero Midstream … | DKLDelek Logistics P… |
|---|---|---|
| ROE (TTM)Return on equity | +20.4% | +19.2% |
| ROA (TTM)Return on assets | +6.9% | +6.1% |
| ROICReturn on invested capital | +9.4% | +14.1% |
| ROCEReturn on capital employed | +11.2% | +8.3% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 4 |
| Debt / EquityFinancial leverage | 1.63x | 5.75x |
| Net DebtTotal debt minus cash | $3.0B | $24M |
| Cash & Equiv.Liquid assets | $180M | $11M |
| Total DebtShort + long-term debt | $3.2B | $35M |
| Interest CoverageEBIT ÷ Interest expense | 4.07x | 1.66x |
AM leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
AM leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in AM five years ago would be worth $28,627 today (with dividends reinvested), compared to $17,071 for DKL. Over the past 12 months, DKL leads with a +51.2% total return vs AM's +29.2%. The 3-year compound annual growth rate (CAGR) favors AM at 32.8% vs DKL's 14.7% — a key indicator of consistent wealth creation.
| Metric | AMAntero Midstream … | DKLDelek Logistics P… |
|---|---|---|
| YTD ReturnYear-to-date | +23.9% | +16.7% |
| 1-Year ReturnPast 12 months | +29.2% | +51.2% |
| 3-Year ReturnCumulative with dividends | +134.3% | +51.1% |
| 5-Year ReturnCumulative with dividends | +186.3% | +70.7% |
| 10-Year ReturnCumulative with dividends | -12.2% | +174.8% |
| CAGR (3Y)Annualised 3-year return | +32.8% | +14.7% |
AM leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
Evenly matched — AM and DKL each lead in 1 of 2 comparable metrics.
Risk & Volatility
AM is the less volatile stock with a 0.19 beta — it tends to amplify market swings less than DKL's 0.35 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | AMAntero Midstream … | DKLDelek Logistics P… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.19x | 0.35x |
| 52-Week HighHighest price in past year | $23.84 | $55.89 |
| 52-Week LowLowest price in past year | $16.77 | $37.50 |
| % of 52W HighCurrent price vs 52-week peak | +91.4% | +94.1% |
| RSI (14)Momentum oscillator 0–100 | 53.1 | 50.1 |
| Avg Volume (50D)Average daily shares traded | 2.6M | 64K |
Evenly matched — AM and DKL each lead in 1 of 2 comparable metrics.
Analyst Outlook
DKL leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Wall Street rates AM as "Hold" and DKL as "Hold". Consensus price targets imply 6.5% upside for DKL (target: $56) vs -1.3% for AM (target: $22). For income investors, DKL offers the higher dividend yield at 8.46% vs AM's 4.18%.
| Metric | AMAntero Midstream … | DKLDelek Logistics P… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | $21.50 | $56.00 |
| # AnalystsCovering analysts | 17 | 10 |
| Dividend YieldAnnual dividend ÷ price | +4.2% | +8.5% |
| Dividend StreakConsecutive years of raises | 1 | 5 |
| Dividend / ShareAnnual DPS | $0.91 | $4.45 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.3% | +0.4% |
DKL leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
AM leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). DKL leads in 2 (Valuation Metrics, Analyst Outlook). 1 tied.
Best OverallAntero Midstream Corporation (AM)Leads 3 of 6 categories
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AM vs DKL: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is AM or DKL a better buy right now?
For growth investors, Delek Logistics Partners, LP (DKL) is the stronger pick with 7.
7% revenue growth year-over-year, versus 7. 0% for Antero Midstream Corporation (AM). Delek Logistics Partners, LP (DKL) offers the better valuation at 15. 9x trailing P/E (13. 9x forward), making it the more compelling value choice. Analysts rate Antero Midstream Corporation (AM) a "Hold" — based on 17 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — AM or DKL?
On trailing P/E, Delek Logistics Partners, LP (DKL) is the cheapest at 15.
9x versus Antero Midstream Corporation at 25. 3x. On forward P/E, Delek Logistics Partners, LP is actually cheaper at 13. 9x.
03Which is the better long-term investment — AM or DKL?
Over the past 5 years, Antero Midstream Corporation (AM) delivered a total return of +186.
3%, compared to +70. 7% for Delek Logistics Partners, LP (DKL). Over 10 years, the gap is even starker: DKL returned +201. 2% versus AM's -14. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — AM or DKL?
By beta (market sensitivity over 5 years), Antero Midstream Corporation (AM) is the lower-risk stock at 0.
19β versus Delek Logistics Partners, LP's 0. 35β — meaning DKL is approximately 89% more volatile than AM relative to the S&P 500. On balance sheet safety, Antero Midstream Corporation (AM) carries a lower debt/equity ratio of 163% versus 6% for Delek Logistics Partners, LP — giving it more financial flexibility in a downturn.
05Which is growing faster — AM or DKL?
By revenue growth (latest reported year), Delek Logistics Partners, LP (DKL) is pulling ahead at 7.
7% versus 7. 0% for Antero Midstream Corporation (AM). On earnings-per-share growth, the picture is similar: Delek Logistics Partners, LP grew EPS 10. 4% year-over-year, compared to 3. 6% for Antero Midstream Corporation. Over a 3-year CAGR, AM leads at 8. 3% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — AM or DKL?
Antero Midstream Corporation (AM) is the more profitable company, earning 32.
8% net margin versus 17. 4% for Delek Logistics Partners, LP — meaning it keeps 32. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: AM leads at 51. 2% versus 18. 0% for DKL. At the gross margin level — before operating expenses — AM leads at 65. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is AM or DKL more undervalued right now?
On forward earnings alone, Delek Logistics Partners, LP (DKL) trades at 13.
9x forward P/E versus 19. 1x for Antero Midstream Corporation — 5. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for DKL: 6. 5% to $56. 00.
08Which pays a better dividend — AM or DKL?
All stocks in this comparison pay dividends.
Delek Logistics Partners, LP (DKL) offers the highest yield at 8. 5%, versus 4. 2% for Antero Midstream Corporation (AM).
09Is AM or DKL better for a retirement portfolio?
For long-horizon retirement investors, Antero Midstream Corporation (AM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
19), 4. 2% yield). Both have compounded well over 10 years (AM: -14. 0%, DKL: +201. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between AM and DKL?
Both stocks operate in the Energy sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: AM is a mid-cap income-oriented stock; DKL is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(AM: 8.6% · DKL: 19.0%)Net Margin>
%
(AM: 31.9% · DKL: 16.0%)P/E Ratio<
x
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