SMC
Summit Midstream Corp.
Oil & Gas Midstream
Market Cap$372M
5Y Perf.-21.7%
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Stock Comparison
SMC vs AM vs HESM vs DKL
Revenue, margins, valuation, and 5-year total return — side by side.
AM
Antero Midstream Corporation
Oil & Gas Midstream
Market Cap$10.09B
5Y Perf.+45.7%
HESM
Hess Midstream LP
Oil & Gas Midstream
Market Cap$8.05B
5Y Perf.+1.8%
DKL
Delek Logistics Partners, LP
Oil & Gas Midstream
Market Cap$2.71B
5Y Perf.+23.9%
SMC vs AM vs HESM vs DKL — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | SMC | AM | HESM | DKL |
|---|---|---|---|---|
| Industry | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Midstream | Oil & Gas Midstream |
| Market Cap | $372M | $10.09B | $8.05B | $2.71B |
| Revenue (TTM) | $562M | $1.29B | $1.62B | $1.06B |
| Net Income (TTM) | $9M | $411M | $353M | $170M |
| Gross Margin | 72.6% | 64.5% | 75.0% | 19.2% |
| Operating Margin | 15.2% | 57.6% | 62.2% | 16.5% |
| Forward P/E | — | 18.9x | 12.8x | 14.6x |
| Total Debt | $1.05B | $3.22B | $3.77B | $35M |
| Cash & Equiv. | $9M | $180M | $2M | $11M |
SMC vs AM vs HESM vs DKL — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
SMC
AM
HESM
DKL
| Stock | Jul 24 | May 26 | Return |
|---|---|---|---|
| Summit Midstream Co… (SMC) | 100 | 78.3 | -21.7% |
| Antero Midstream Co… (AM) | 100 | 145.7 | +45.7% |
| Hess Midstream LP (HESM) | 100 | 101.8 | +1.8% |
| Delek Logistics Par… (DKL) | 100 | 123.9 | +23.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: SMC vs AM vs HESM vs DKL
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: HESM leads in 3 of 7 categories, making it the strongest pick for valuation and capital efficiency and dividend income and shareholder returns. Antero Midstream Corporation is the stronger pick specifically for profitability and margin quality and capital preservation and lower volatility. SMC and DKL also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
SMC
Summit Midstream Corp.
The Growth Play
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 DKL's 207.3%
- 30.8% revenue growth vs AM's 7.0%
Best for: growth exposure and long-term compounding
AM
Antero Midstream Corporation
The Defensive Pick
AM is the #2 pick in this set and the best alternative if sleep-well-at-night and defensive is your priority.
- Lower volatility, beta 0.19, current ratio 3.41x
- Beta 0.19, yield 4.3%, current ratio 3.41x
- 31.9% margin vs SMC's 1.6%
- Beta 0.19 vs SMC's 0.63
Best for: sleep-well-at-night and defensive
HESM
Hess Midstream LP
The Income Pick
HESM carries the broadest edge in this set and is the clearest fit for income & stability.
- Dividend streak 7 yrs, beta 0.27, yield 7.4%
- Lower P/E (12.8x vs 14.6x)
- 7.4% yield, 7-year raise streak, vs DKL's 8.7%
- 8.1% ROA vs SMC's 0.4%, ROIC 18.6% vs 2.7%
Best for: income & stability
DKL
Delek Logistics Partners, LP
The Momentum Pick
DKL is the clearest fit if your priority is momentum.
- +45.1% vs SMC's +10.0%
Best for: momentum
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | SMC | 30.8% revenue growth vs AM's 7.0% |
| Value | HESM | Lower P/E (12.8x vs 14.6x) |
| Quality / Margins | AM | 31.9% margin vs SMC's 1.6% |
| Stability / Safety | AM | Beta 0.19 vs SMC's 0.63 |
| Dividends | HESM | 7.4% yield, 7-year raise streak, vs DKL's 8.7% |
| Momentum (1Y) | DKL | +45.1% vs SMC's +10.0% |
| Efficiency (ROA) | HESM | 8.1% ROA vs SMC's 0.4%, ROIC 18.6% vs 2.7% |
SMC vs AM vs HESM vs DKL — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2025
FY 2023
SMC vs AM vs HESM vs DKL — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLSMCLAGGINGDKL
Who Leads Where
SMC leads in 1 of 6 categories
HESM leads 1 • AM leads 1 • DKL leads 0 • 3 tied
Explore the data ↓DKLDelek Logistics Partn…
0leads
HESMHess Midstream LP
1leads
AMAntero Midstream Corp…
1leads
SMCSummit Midstream Corp.
1leads
6 Total Categories
CATEGORYLEADERvs AMvs HESMMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
SMC5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
HESM4/9
Total Returns1Y, 3Y, 5Y total returns with dividends
AM4/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
Evenly matched — SMC and AM and HESM each lead in 2 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
HESM is the larger business by revenue, generating $1.6B annually — 2.9x 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 | SMCSummit Midstream … | AMAntero Midstream … | HESMHess Midstream LP | DKLDelek Logistics P… |
|---|---|---|---|---|
| RevenueTrailing 12 months | $562M | $1.3B | $1.6B | $1.1B |
| EBITDAEarnings before interest/tax | $201M | $951M | $1.2B | $310M |
| Net IncomeAfter-tax profit | $9M | $411M | $353M | $170M |
| Free Cash FlowCash after capex | -$4M | $916M | $585M | $112M |
| Gross MarginGross profit ÷ Revenue | +72.6% | +64.5% | +75.0% | +19.2% |
| Operating MarginEBIT ÷ Revenue | +15.2% | +57.6% | +62.2% | +16.5% |
| Net MarginNet income ÷ Revenue | +1.6% | +31.9% | +21.8% | +16.0% |
| FCF MarginFCF ÷ Revenue | -0.7% | +71.2% | +36.1% | +10.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +33.0% | +8.6% | +2.3% | +19.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +72.5% | 0.0% | +5.9% | -17.8% |
Evenly matched — SMC and AM and HESM each lead in 2 of 6 comparable metrics.
Valuation Metrics
SMC leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 13.5x trailing earnings, HESM trades at a 45% valuation discount to AM's 24.7x P/E. On an enterprise value basis, SMC's 7.6x EV/EBITDA is more attractive than AM's 15.5x.
| Metric | SMCSummit Midstream … | AMAntero Midstream … | HESMHess Midstream LP | DKLDelek Logistics P… |
|---|---|---|---|---|
| Market CapShares × price | $372M | $10.1B | $8.0B | $2.7B |
| Enterprise ValueMkt cap + debt − cash | $1.4B | $13.1B | $11.8B | $2.7B |
| Trailing P/EPrice ÷ TTM EPS | -18.86x | 24.70x | 13.50x | 15.46x |
| Forward P/EPrice ÷ next-FY EPS est. | — | 18.95x | 12.83x | 14.60x |
| PEG RatioP/E ÷ EPS growth rate | — | — | 0.80x | — |
| EV / EBITDAEnterprise value multiple | 7.56x | 15.45x | 9.67x | 8.81x |
| Price / SalesMarket cap ÷ Revenue | 0.66x | 8.01x | 4.96x | 2.68x |
| Price / BookPrice ÷ Book value/share | 0.34x | 5.19x | 10.85x | 446.88x |
| Price / FCFMarket cap ÷ FCF | 8.36x | 13.10x | 11.05x | — |
SMC leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
HESM leads this category, winning 4 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 $1 for SMC. SMC carries lower financial leverage with a 0.97x debt-to-equity ratio, signaling a more conservative balance sheet compared to HESM's 8.61x. On the Piotroski fundamental quality scale (0–9), AM scores 8/9 vs DKL's 4/9, reflecting strong financial health.
| Metric | SMCSummit Midstream … | AMAntero Midstream … | HESMHess Midstream LP | DKLDelek Logistics P… |
|---|---|---|---|---|
| ROE (TTM)Return on equity | +0.8% | +20.4% | +74.9% | +19.2% |
| ROA (TTM)Return on assets | +0.4% | +6.9% | +8.1% | +6.1% |
| ROICReturn on invested capital | +2.7% | +9.4% | +18.6% | +14.1% |
| ROCEReturn on capital employed | +3.3% | +11.2% | +24.8% | +8.3% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 8 | 6 | 4 |
| Debt / EquityFinancial leverage | 0.97x | 1.63x | 8.61x | 5.75x |
| Net DebtTotal debt minus cash | $1.0B | $3.0B | $3.8B | $24M |
| Cash & Equiv.Liquid assets | $9M | $180M | $2M | $11M |
| Total DebtShort + long-term debt | $1.1B | $3.2B | $3.8B | $35M |
| Interest CoverageEBIT ÷ Interest expense | 0.94x | 4.07x | 4.54x | 1.66x |
HESM leads this category, winning 4 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 $27,737 today (with dividends reinvested), compared to $8,224 for SMC. Over the past 12 months, DKL leads with a +45.1% 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 | SMCSummit Midstream … | AMAntero Midstream … | HESMHess Midstream LP | DKLDelek Logistics P… |
|---|---|---|---|---|
| YTD ReturnYear-to-date | +13.4% | +20.9% | +13.6% | +13.4% |
| 1-Year ReturnPast 12 months | +10.0% | +24.3% | +10.9% | +45.1% |
| 3-Year ReturnCumulative with dividends | -17.8% | +131.3% | +62.9% | +45.6% |
| 5-Year ReturnCumulative with dividends | -17.8% | +177.4% | +123.1% | +86.0% |
| 10-Year ReturnCumulative with dividends | +279.2% | -13.8% | +121.2% | +207.3% |
| CAGR (3Y)Annualised 3-year return | -6.3% | +32.2% | +17.7% | +13.3% |
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 SMC's 0.63 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. DKL currently trades 91.3% from its 52-week high vs HESM's 87.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | SMCSummit Midstream … | AMAntero Midstream … | HESMHess Midstream LP | DKLDelek Logistics P… |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.55x | 0.11x | 0.22x | 0.34x |
| 52-Week HighHighest price in past year | $33.50 | $23.84 | $44.14 | $55.89 |
| 52-Week LowLowest price in past year | $19.13 | $16.77 | $31.63 | $37.50 |
| % of 52W HighCurrent price vs 52-week peak | +90.7% | +89.1% | +87.5% | +91.3% |
| RSI (14)Momentum oscillator 0–100 | 57.4 | 40.1 | 49.1 | 50.0 |
| Avg Volume (50D)Average daily shares traded | 67K | 2.5M | 1.6M | 64K |
Evenly matched — AM and DKL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — HESM and DKL each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: AM as "Hold", HESM as "Hold", DKL as "Hold". Consensus price targets imply 54.8% upside for SMC (target: $47) vs -17.1% for HESM (target: $32). For income investors, DKL offers the higher dividend yield at 8.72% vs SMC's 3.63%.
| Metric | SMCSummit Midstream … | AMAntero Midstream … | HESMHess Midstream LP | DKLDelek Logistics P… |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold | Hold | Hold |
| Price TargetConsensus 12-month target | $47.00 | $21.50 | $32.00 | $56.00 |
| # AnalystsCovering analysts | — | 17 | 9 | 10 |
| Dividend YieldAnnual dividend ÷ price | +3.6% | +4.3% | +7.4% | +8.7% |
| Dividend StreakConsecutive years of raises | 1 | 1 | 7 | 5 |
| Dividend / ShareAnnual DPS | $1.10 | $0.91 | $2.84 | $4.45 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.3% | +5.0% | +0.4% |
Evenly matched — HESM and DKL each lead in 1 of 2 comparable metrics.
Key Takeaway
SMC leads in 1 of 6 categories (Valuation Metrics). HESM leads in 1 (Profitability & Efficiency). 3 tied.
Best OverallSummit Midstream Corp. (SMC)Leads 1 of 6 categories
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SMC vs AM vs HESM vs DKL: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is SMC or AM or HESM or DKL 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). Hess Midstream LP (HESM) offers the better valuation at 13. 5x trailing P/E (12. 8x 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 — SMC or AM or HESM or DKL?
On trailing P/E, Hess Midstream LP (HESM) is the cheapest at 13.
5x versus Antero Midstream Corporation at 24. 7x. On forward P/E, Hess Midstream LP is actually cheaper at 12. 8x.
03Which is the better long-term investment — SMC or AM or HESM or DKL?
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 +277. 7% versus AM's -14. 7%. 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 — SMC or AM or HESM or DKL?
By beta (market sensitivity over 5 years), Antero Midstream Corporation (AM) is the lower-risk stock at 0.
11β versus Summit Midstream Corp. 's 0. 55β — meaning SMC is approximately 416% 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 9% for Hess Midstream LP — giving it more financial flexibility in a downturn.
05Which is growing faster — SMC or AM or HESM or DKL?
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.
06Which has better profit margins — SMC or AM or HESM or DKL?
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: HESM leads at 62. 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.
07Is SMC or AM or HESM or DKL more undervalued right now?
On forward earnings alone, Hess Midstream LP (HESM) trades at 12.
8x forward P/E versus 18. 9x for Antero Midstream Corporation — 6. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for SMC: 54. 8% to $47. 00.
08Which pays a better dividend — SMC or AM or HESM or DKL?
All stocks in this comparison pay dividends.
Delek Logistics Partners, LP (DKL) offers the highest yield at 8. 7%, versus 3. 6% for Summit Midstream Corp. (SMC).
09Is SMC or AM or HESM 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.
11), 4. 3% yield). Both have compounded well over 10 years (AM: -14. 7%, SMC: +277. 7%), 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 SMC and AM and HESM 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: SMC is a small-cap high-growth stock; AM is a mid-cap income-oriented stock; HESM is a small-cap deep-value 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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