Antero Midstream vs Viper Energy
Viper Energy reported revenue of $1.4 billion in fiscal 2025, 1.2 times Antero Midstream's $1.2 billion in fiscal 2025. Antero Midstream's revenue grew 7.4% in its latest year, and Viper Energy's grew 62.0%. Antero Midstream had an operating margin of 54.2%, against -10.0% at Viper Energy.
Side by side
| Antero Midstream | Viper Energy | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $1.2B | $1.4B |
| Revenue growth | 7.4% | 62.0% |
| Revenue growth a year, last 5 years | 5.7% | 41.0% |
| Gross margin | — | — |
| Operating margin | 54.2% | −10.0% |
| Net margin | 34.8% | −4.9% |
| Free cash flow | — | — |
| Free cash flow margin | — | — |
| Return on capital | 9.2% | −1.3% |
| Net debt to EBITDA | 3.6x | 4.7x |
| Dividends and buybacks | $574M | $328M |
| Change in diluted share count | −0.6% | 51.7% |
| Last close | $20.79 | $47.16 |
| P/E at the last close | 24.8× | — |
| Insider trades, last 12 months | sold $5.3 million | sold $589.5 million |
| Piotroski F-score | 7 of 8 | 3 of 8 |
Amounts in each company's own currency, US$ 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 MidstreamViper Energy
Operating margin
Percent of revenue
Antero MidstreamViper Energy
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Antero MidstreamViper Energy
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 Viper Energy pages.