Oil & Gas Midstream
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SMC vs AM
Revenue, margins, valuation, and 5-year total return — side by side.
Oil & Gas Midstream
SMC vs AM — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $372M | $10.09B |
| Revenue (TTM) | $562M | $1.29B |
| Net Income (TTM) | $9M | $411M |
| Gross Margin | 72.6% | 64.5% |
| Operating Margin | 15.2% | 57.6% |
| Forward P/E | — | 19.2x |
| Total Debt | $1.05B | $3.22B |
| Cash & Equiv. | $9M | $180M |
SMC vs AM — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | Jul 24 | May 26 | Return |
|---|---|---|---|
| Summit Midstream Co… (SMC) | 100 | 79.8 | -20.2% |
| Antero Midstream Co… (AM) | 100 | 147.9 | +47.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: SMC vs AM
Each card shows where this stock fits in a portfolio — not just who wins on paper.
SMC is the clearest fit if your priority is growth exposure and long-term compounding.
- Rev growth 30.8%, EPS growth 87.4%, 3Y rev CAGR 15.0%
- 279.2% 10Y total return vs AM's -13.8%
- 30.8% revenue growth vs AM's 7.0%
AM carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- Dividend streak 1 yrs, beta 0.19, yield 4.3%
- Lower volatility, beta 0.19, current ratio 3.41x
- Beta 0.19, yield 4.3%, current ratio 3.41x
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 30.8% revenue growth vs AM's 7.0% | |
| Value | Better valuation composite | |
| Quality / Margins | 31.9% margin vs SMC's 1.6% | |
| Stability / Safety | Beta 0.19 vs SMC's 0.63 | |
| Dividends | 4.3% yield, 1-year raise streak, vs SMC's 3.6% | |
| Momentum (1Y) | +24.3% vs SMC's +10.0% | |
| Efficiency (ROA) | 6.9% ROA vs SMC's 0.4%, ROIC 9.4% vs 2.7% |
SMC vs AM — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
SMC vs AM — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
Evenly matched — SMC and AM each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
AM is the larger business by revenue, generating $1.3B annually — 2.3x SMC's $562M. AM is the more profitable business, keeping 31.9% of every revenue dollar as net income compared to SMC's 1.6%. On growth, SMC holds the edge at +33.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $562M | $1.3B |
| EBITDAEarnings before interest/tax | $201M | $951M |
| Net IncomeAfter-tax profit | $9M | $411M |
| Free Cash FlowCash after capex | -$4M | $916M |
| Gross MarginGross profit ÷ Revenue | +72.6% | +64.5% |
| Operating MarginEBIT ÷ Revenue | +15.2% | +57.6% |
| Net MarginNet income ÷ Revenue | +1.6% | +31.9% |
| FCF MarginFCF ÷ Revenue | -0.7% | +71.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +33.0% | +8.6% |
| EPS Growth (YoY)Latest quarter vs prior year | +72.5% | 0.0% |
Valuation Metrics
SMC leads this category, winning 5 of 5 comparable metrics.
Valuation Metrics
On an enterprise value basis, SMC's 7.6x EV/EBITDA is more attractive than AM's 15.5x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $372M | $10.1B |
| Enterprise ValueMkt cap + debt − cash | $1.4B | $13.1B |
| Trailing P/EPrice ÷ TTM EPS | -18.86x | 24.70x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 19.22x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 7.56x | 15.45x |
| Price / SalesMarket cap ÷ Revenue | 0.66x | 8.01x |
| Price / BookPrice ÷ Book value/share | 0.34x | 5.19x |
| Price / FCFMarket cap ÷ FCF | 8.36x | 13.10x |
Profitability & Efficiency
AM leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
AM delivers a 20.4% return on equity — every $100 of shareholder capital generates $20 in annual profit, vs $1 for SMC. SMC carries lower financial leverage with a 0.97x debt-to-equity ratio, signaling a more conservative balance sheet compared to AM's 1.63x. On the Piotroski fundamental quality scale (0–9), AM scores 8/9 vs SMC's 5/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +0.8% | +20.4% |
| ROA (TTM)Return on assets | +0.4% | +6.9% |
| ROICReturn on invested capital | +2.7% | +9.4% |
| ROCEReturn on capital employed | +3.3% | +11.2% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 8 |
| Debt / EquityFinancial leverage | 0.97x | 1.63x |
| Net DebtTotal debt minus cash | $1.0B | $3.0B |
| Cash & Equiv.Liquid assets | $9M | $180M |
| Total DebtShort + long-term debt | $1.1B | $3.2B |
| Interest CoverageEBIT ÷ Interest expense | 0.94x | 4.07x |
Total Returns (Dividends Reinvested)
AM leads this category, winning 5 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in AM five years ago would be worth $27,737 today (with dividends reinvested), compared to $8,224 for SMC. Over the past 12 months, AM leads with a +24.3% total return vs SMC's +10.0%. The 3-year compound annual growth rate (CAGR) favors AM at 32.2% vs SMC's -6.3% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +13.4% | +20.9% |
| 1-Year ReturnPast 12 months | +10.0% | +24.3% |
| 3-Year ReturnCumulative with dividends | -17.8% | +131.3% |
| 5-Year ReturnCumulative with dividends | -17.8% | +177.4% |
| 10-Year ReturnCumulative with dividends | +279.2% | -13.8% |
| CAGR (3Y)Annualised 3-year return | -6.3% | +32.2% |
Risk & Volatility
Evenly matched — SMC and AM 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 SMC's 0.63 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.63x | 0.19x |
| 52-Week HighHighest price in past year | $33.50 | $23.84 |
| 52-Week LowLowest price in past year | $19.13 | $16.77 |
| % of 52W HighCurrent price vs 52-week peak | +90.7% | +89.1% |
| RSI (14)Momentum oscillator 0–100 | 57.4 | 40.1 |
| Avg Volume (50D)Average daily shares traded | 67K | 2.5M |
Analyst Outlook
AM leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Consensus price targets imply 54.8% upside for SMC (target: $47) vs 1.2% for AM (target: $22). For income investors, AM offers the higher dividend yield at 4.29% vs SMC's 3.63%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold |
| Price TargetConsensus 12-month target | $47.00 | $21.50 |
| # AnalystsCovering analysts | — | 17 |
| Dividend YieldAnnual dividend ÷ price | +3.6% | +4.3% |
| Dividend StreakConsecutive years of raises | 1 | 1 |
| Dividend / ShareAnnual DPS | $1.10 | $0.91 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.3% |
AM leads in 3 of 6 categories (Profitability & Efficiency, Total Returns). SMC leads in 1 (Valuation Metrics). 2 tied.
SMC vs AM: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is SMC or AM a better buy right now?
For growth investors, Summit Midstream Corp.
(SMC) is the stronger pick with 30. 8% revenue growth year-over-year, versus 7. 0% for Antero Midstream Corporation (AM). Antero Midstream Corporation (AM) offers the better valuation at 24. 7x trailing P/E (19. 2x 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 is the better long-term investment — SMC or AM?
Over the past 5 years, Antero Midstream Corporation (AM) delivered a total return of +177.
4%, compared to -17. 8% for Summit Midstream Corp. (SMC). Over 10 years, the gap is even starker: SMC returned +279. 2% versus AM's -13. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — SMC or AM?
By beta (market sensitivity over 5 years), Antero Midstream Corporation (AM) is the lower-risk stock at 0.
19β versus Summit Midstream Corp. 's 0. 63β — meaning SMC is approximately 243% more volatile than AM relative to the S&P 500. On balance sheet safety, Summit Midstream Corp. (SMC) carries a lower debt/equity ratio of 97% versus 163% for Antero Midstream Corporation — giving it more financial flexibility in a downturn.
04Which is growing faster — SMC or AM?
By revenue growth (latest reported year), Summit Midstream Corp.
(SMC) is pulling ahead at 30. 8% versus 7. 0% for Antero Midstream Corporation (AM). On earnings-per-share growth, the picture is similar: Summit Midstream Corp. grew EPS 87. 4% year-over-year, compared to 3. 6% for Antero Midstream Corporation. Over a 3-year CAGR, SMC leads at 15. 0% 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.
05Which has better profit margins — SMC or AM?
Antero Midstream Corporation (AM) is the more profitable company, earning 32.
8% net margin versus -3. 5% for Summit Midstream Corp. — 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 12. 9% for SMC. At the gross margin level — before operating expenses — SMC leads at 72. 6%, 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.
06Is SMC or AM more undervalued right now?
Analyst consensus price targets imply the most upside for SMC: 54.
8% to $47. 00.
07Which pays a better dividend — SMC or AM?
All stocks in this comparison pay dividends.
Antero Midstream Corporation (AM) offers the highest yield at 4. 3%, versus 3. 6% for Summit Midstream Corp. (SMC).
08Is SMC or AM 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. 3% yield). Both have compounded well over 10 years (AM: -13. 8%, SMC: +279. 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.
09What are the main differences between SMC and AM?
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: SMC is a small-cap high-growth stock; AM is a mid-cap income-oriented 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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