Antero Midstream vs Dorian LPG
Antero Midstream reported revenue of $1.2 billion in fiscal 2025, 2.5 times Dorian LPG's $482 million in fiscal 2026. Antero Midstream's revenue grew 7.4% in its latest year, and Dorian LPG's grew 36.3%. Antero Midstream had an operating margin of 54.2%, against 43.6% at Dorian LPG. Their fiscal years end in different months (December 31 and March 31), so the periods don't line up exactly.
Side by side
| Antero Midstream | Dorian LPG | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Mar 31, 2026 |
| Revenue | $1.2B | $482M |
| Revenue growth | 7.4% | 36.3% |
| Revenue growth a year, last 5 years | 5.7% | 8.8% |
| Gross margin | — | — |
| Operating margin | 54.2% | 43.6% |
| Net margin | 34.8% | 40.2% |
| Free cash flow | — | — |
| Free cash flow margin | — | — |
| Return on capital | 9.2% | 12.5% |
| Net debt to EBITDA | 3.6x | 0.8x |
| Dividends and buybacks | $574M | $112M |
| Change in diluted share count | −0.6% | 0.9% |
| Last close | $20.79 | $55.18 |
| P/E at the last close | 24.8× | 7.3× |
| Insider trades, last 12 months | sold $5.3 million | bought $409,500, sold $12.1 million |
| Piotroski F-score | 7 of 8 | 5 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Antero MidstreamDorian LPG
Operating margin
Percent of revenue
Antero MidstreamDorian LPG
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Antero MidstreamDorian LPG
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Antero Midstream and Dorian LPG pages.