Antero Midstream Corporation (AM) vs Hess Midstream LP (HESM)
A side-by-side comparison of Antero Midstream Corporation and Hess Midstream LP across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 2, 2026. Differences are shown without an overall score or investment verdict.
AM
Antero Midstream Corporation
$20.36EnergyDelayed quote: Oct 2, 2026, 4:00 PM EDT
HESM
Hess Midstream LP
$37.75EnergyDelayed quote: Oct 2, 2026, 4:00 PM EDT
Total return — AM vs HESM
growth of $100 · dividends reinvested · last 9yAM +33.1% (+3.2%/yr)HESM +194.7% (+12.8%/yr)HESM compounded faster over this window
AM HESM
AM vs HESM: by the numbers
- •AM is the larger company ($9.66B vs $7.80B market cap).
- •HESM trades at the lower trailing earnings multiple (13.02 vs 24.24 P/E), one valuation lens rather than an overall verdict.
- •AM converts more revenue to profit (30.45% vs 23.29% net margin).
- •HESM grew revenue faster over the past five years (7.63% vs 6.09% CAGR).
- •HESM pays the higher dividend yield (8.18% vs 4.44%).
Metrics side by side
Valuation
| Metric | AM | HESM |
|---|---|---|
| P/E ratio | 24.24 | 13.02 |
| Forward P/E | 18.63 | 12.81 |
| PEG ratio | N/A | 0.77 |
| P/S ratio | 7.36 | 4.84 |
| P/B ratio | 4.97 | 15.16 |
| EV / EBITDA | 13.90 | 9.36 |
| FCF yield | N/A | 8.90% |
Profitability
| Metric | AM | HESM |
|---|---|---|
| Gross margin | 62.92% | 80.77% |
| Operating margin | 56.05% | 62.21% |
| Net margin | 30.45% | 23.29% |
| ROE | 20.55% | 72.87% |
| ROIC | 8.64% | 20.77% |
Dividends
| Metric | AM | HESM |
|---|---|---|
| Dividend yield | 4.44% | 8.18% |
| Payout ratio | 107.14% | 106.44% |
Growth (annualized)
| Metric | AM | HESM |
|---|---|---|
| Revenue CAGR (5Y) | 6.09% | 7.63% |
| EPS CAGR (5Y) | N/A | 16.63% |
| FCF CAGR (5Y) | N/A | 6.48% |
| Total return CAGR (5Y) | 21.64% | 14.94% |
Frequently asked
- Which has the lower trailing P/E, AM or HESM?
- HESM has the lower trailing P/E: AM trades at 24.24 and HESM at 13.02. P/E is one valuation measure and does not by itself establish which business is cheaper.
- Which has grown faster, AM or HESM?
- Over the past five years, HESM grew revenue faster — AM at a 6.09% CAGR versus HESM at 7.63%.
- Does AM or HESM pay a bigger dividend?
- AM yields 4.44% and HESM yields 8.18% based on trailing dividends and the latest price.
- Is AM or HESM more profitable?
- AM runs the higher net margin — AM at 30.45% versus HESM at 23.29%.
- How have AM and HESM total returns compared?
- Over the past 5 years, AM delivered 21.64% and HESM delivered 14.94% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Antero Midstream P/E ratioHess Midstream LP P/E ratioAntero Midstream dividend yieldHess Midstream LP dividend yieldAntero Midstream ROEHess Midstream LP ROEAntero Midstream operating marginHess Midstream LP operating marginAntero Midstream revenue growthHess Midstream LP revenue growthAntero Midstream free cash flowHess Midstream LP free cash flow
Antero Midstream & Hess Midstream LP appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 2, 2026.