AM Antero Midstream Corporation Common Stock
$22.71
Price · Aug 18, 2026
Fundamentals as of Jul 29, 2026
52W Range
$17–$24
84% of range
Analyst Rating
HOLD
16 analysts
Price Target
$24
+7% upside
P/E (TTM)
26.5
ROE
20.4%
Net Profit Margin
34.8%
AM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$22.71
Market Cap
$10.79B
P/E (TTM)
26.5
EPS (TTM)
$0.86
Revenue (TTM)
$1.19B
Div Yield
4.1%
ROE
20.4%
Debt/Equity
1.6
52W Range
$17 – $24
AM Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.19B
2019-12-31
→
2025-12-31
EPS
$0.86
2019-12-31
→
2025-12-31
Free Cash Flow
—
2019-12-31
→
2024-12-31
Margins
34.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AM
Peer Median
P/E (TTM)
26.5
25.2
P/S (TTM)
9.1
4.7
P/B
5.5
4.0
EV / EBITDA
21.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AM
Peer Median
Operating Margin
54.2%
—
Net Profit Margin
34.8%
23.0%
ROA
7.1%
4.6%
ROE
20.4%
17.5%
ROIC
9.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AM
Peer Median
Debt / Equity
1.6
—
Current Ratio
3.4
1.0
Quick Ratio
1.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AM
Peer Median
Revenue YoY
7.4%
—
Revenue CAGR 3Y
8.9%
—
Revenue CAGR 5Y
5.7%
—
EPS YoY
3.6%
—
Net Income YoY
3.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AM
Peer Median
Payout Ratio
106.3%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
4.1%
Payout Ratio
106.3%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| July 29, 2026 | $0.2250 |
| April 29, 2026 | $0.2250 |
| Jan. 28, 2026 | $0.2250 |
| Oct. 22, 2025 | $0.2250 |
| July 23, 2025 | $0.2250 |
| April 23, 2025 | $0.2250 |
| Jan. 29, 2025 | $0.2250 |
| Oct. 23, 2024 | $0.2250 |
| July 24, 2024 | $0.2250 |
| April 23, 2024 | $0.2250 |
| Jan. 23, 2024 | $0.2250 |
| Oct. 24, 2023 | $0.2250 |
| July 25, 2023 | $0.2250 |
| April 25, 2023 | $0.2250 |
| Jan. 24, 2023 | $0.2250 |
| Oct. 25, 2022 | $0.2250 |
| July 26, 2022 | $0.2250 |
| April 26, 2022 | $0.2250 |
| Jan. 25, 2022 | $0.2250 |
| Oct. 26, 2021 | $0.2250 |
AM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
16 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 9 56.2%
- Sell 4 25.0%
- Strong Sell 3 18.8%
12-Month Price Target
7 analysts · 2026-08-15
Median
$24.00
Mean
$24.29
← Below all targets
$22.71
Low
$23.00
High
$26.00
Median target
$24.00
+5.7%
Mean target
$24.29
+6.9%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.24 | $0.29 | -0.06% |
| March 31, 2026 | $0.26 | $0.29 | -0.03% |
| Dec. 31, 2025 | $0.30 | $0.26 | 0.04% |
| Sept. 30, 2025 | $0.24 | $0.26 | -0.02% |
| June 30, 2025 | $0.26 | $0.26 | -0.00% |
| March 31, 2025 | $0.25 | $0.25 | 0.00% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AM | $8.43B | 20.7 | 7.4% | 34.8% | 20.4% | — |
| LNG | $41.29B | 8.1 | 27.2% | 26.7% | 78.3% | — |
| CQP | — | -109.1 | 23.6% | 27.8% | — | — |
| WES | — | — | 6.6% | 30.7% | — | — |
| PAA | — | — | -9.5% | 3.2% | — | — |
| DTM | $12.17B | 27.8 | 26.7% | 35.5% | 9.4% | — |
| KNTK | — | 13.7 | 19.0% | 10.1% | -16.7% | — |
| HESM | — | — | 8.4% | 21.8% | — | — |
| PAGP | — | 38.3 | -9.5% | 0.59% | — | — |
| INSW | $2.40B | 7.8 | -11.4% | 36.7% | 15.8% | — |
| WMB | — | 28.1 | 13.8% | 21.9% | 20.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.19B | $1.11B | $1.04B | $920M | $898M | $901M | $793M | $143M | $70M | $17M | |
| SG&A Expense | $88M | $86M | $71M | $62M | $64M | $52M | $118M | $44M | $41M | $814.0K | |
| Operating Expenses | $544M | $447M | $430M | $381M | $343M | $1.02B | $1.19B | $44M | $41M | $814.0K | |
| Operating Income | $645M | $659M | $612M | $539M | $555M | $-118M | $-398M | $-44M | $-41M | $16M | |
| Other Non-op | $-80M | $-111M | $-112M | $-96M | $-107M | $-61M | $-59M | · | · | · | |
| Pretax Income | $564M | $549M | $500M | $444M | $449M | $-178M | $-458M | $99M | $29M | $16M | |
| Income Tax | $151M | $148M | $128M | $117M | $117M | $-56M | $-102M | $32M | $26M | $6M | |
| Net Income | $413M | $401M | $372M | $326M | $332M | $-123M | $-355M | $67M | $5M | $10M | |
| EPS (Basic) | $0.86 | $0.83 | $0.77 | $0.68 | $0.69 | $-0.26 | $-0.80 | $0.33 | · | · | |
| EPS (Diluted) | $0.86 | $0.83 | $0.77 | $0.68 | $0.69 | $-0.26 | $-0.80 | $0.33 | · | · | |
| Shares (Basic) | 477,906,000 | 480,822,000 | 479,378,000 | 478,232,000 | 477,270,000 | 478,278,000 | 442,640,000 | 186,203,000 | 186,176,000 | · | |
| Shares (Diluted) | 482,177,000 | 485,247,000 | 482,372,000 | 480,300,000 | 479,736,000 | 478,278,000 | 442,640,000 | 186,203,000 | 186,176,000 | · | |
| EBITDA | $645M | $659M | $612M | $539M | $555M | $-118M | $-398M | $99M | · | · |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $180M | · | $66.0K | · | · | $640.0K | $1M | $3M | $6M | $10M | |
| Receivables | · | · | · | $575.0K | $747.0K | $839.0K | $5M | · | · | · | |
| Prepaid Expense | · | · | · | · | · | · | · | $87.0K | · | · | |
| Other Current Assets | $3M | $2M | $2M | $1M | $920.0K | $1M | $2M | $87.0K | · | · | |
| Current Assets | $380M | $118M | $91M | $89M | $84M | $94M | $109M | $3M | $6M | $10M | |
| PP&E (Net) | $3.45B | $3.88B | $3.79B | $3.75B | $3.39B | $3.25B | $3.27B | · | · | · | |
| PP&E (Gross) | $4.20B | $4.55B | $4.33B | $4.15B | $3.66B | $3.41B | $3.36B | · | · | · | |
| Accum. Depreciation | $745M | $670M | $533M | $397M | $266M | $158M | $88M | · | · | · | |
| Goodwill | · | · | · | · | · | · | $575M | · | · | · | |
| Intangibles | $1.07B | $1.14B | $1.22B | $1.29B | $1.36B | $1.43B | $1.50B | · | · | · | |
| Other Non-current Assets | $11M | $13M | $11M | $12M | $13M | $10M | $14M | · | · | · | |
| Total Assets | $5.88B | $5.76B | $5.74B | $5.79B | $5.54B | $5.61B | $6.28B | $48M | $30M | $17M | |
| Accounts Payable | · | · | · | $23M | $24M | $9M | $7M | $28.0K | $236.0K | · | |
| Accrued Liabilities | $92M | $84M | $81M | $73M | $81M | $75M | $104M | $407.0K | $293.0K | $426.0K | |
| Current Liabilities | $111M | $101M | $96M | $102M | $114M | $94M | $242M | $17M | $14M | $7M | |
| Deferred Tax | $563M | $414M | $266M | $131M | $14M | · | · | · | · | · | |
| Other Non-current Liabilities | $12M | $15M | $10M | $4M | $7M | $7M | $5M | · | · | · | |
| Total Liabilities | $3.91B | $3.65B | $3.59B | $3.60B | $3.26B | $3.19B | $3.14B | $17M | $14M | $7M | |
| Long-term Debt | $3.22B | $3.12B | $3.21B | $3.36B | $3.12B | $3.09B | $2.89B | · | · | · | |
| Total Debt | $3.22B | $3.12B | $3.21B | $3.36B | $3.12B | $3.09B | $2.89B | · | · | · | |
| Common Stock | $5M | $5M | $5M | $5M | $5M | $5M | $5M | · | · | · | |
| Paid-in Capital | $1.95B | $2.02B | $2.05B | $2.10B | $2.41B | $2.88B | $3.48B | · | · | · | |
| Retained Earnings | $15M | $91M | $100M | $83M | $-132M | $-464M | $-342M | · | · | · | |
| Stockholders' Equity | $1.97B | $2.12B | $2.15B | $2.19B | $2.29B | $2.42B | $3.14B | $31M | · | · | |
| Liabilities + Equity | $5.88B | $5.76B | $5.74B | $5.79B | $5.54B | $5.61B | $6.28B | $48M | $30M | $17M | |
| Shares Outstanding | 474,060,000 | 479,422,000 | 479,713,000 | 478,497,000 | 477,495,000 | 476,639,000 | 484,042,000 | 0 | · | · |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | $109M | $96M | · | · | · | |
| Stock-based Comp | $46M | $44M | $32M | $20M | $14M | $13M | $74M | $35M | $35M | · | |
| Deferred Tax | $149M | $148M | $135M | $117M | $117M | $-171.0K | $-102M | $-1M | · | $-368.0K | |
| Amort. of Intangibles | $71M | $71M | $71M | $71M | $71M | $71M | $57M | · | · | · | |
| Operating Cash Flow | $932M | $844M | $779M | $700M | $710M | $753M | $622M | $84M | $28M | $10M | |
| CapEx | · | $70M | $266.0K | $217M | · | $158M | $267M | · | · | · | |
| Investing Cash Flow | $-169M | $-243M | $-183M | $-494M | $-233M | $-219M | $-526M | · | · | · | |
| Stock Repurchased | $135M | $29M | · | · | · | $25M | $126M | · | · | · | |
| Net Stock Activity | $-135M | $-29M | · | · | · | $-25M | $-126M | · | · | · | |
| Dividends Paid | $439M | $438M | $435M | $433M | $471M | $590M | $492M | $84M | $16M | · | |
| Financing Cash Flow | $-500M | $-601M | $-596M | $-206M | $-477M | $-535M | $-98M | $-87M | $-32M | · | |
| Net Change in Cash | $263M | $-66.0K | $66.0K | · | $-640.0K | $-595.0K | $-2M | $-3M | $-4M | · | |
| Taxes Paid | $3M | $-104.0K | $-10M | · | $16M | $39M | $-16M | $-32M | $19M | $228.0K | |
| Free Cash Flow | · | $774M | $779M | $483M | · | $595M | $355M | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 54.2% | 59.6% | 58.7% | 58.6% | 61.8% | -13.1% | -50.3% | 69.3% | · | · | |
| Net Margin | 34.8% | 36.2% | 35.7% | 35.5% | 36.9% | -13.6% | · | · | 3.3% | · | |
| Pretax Margin | 47.5% | 49.6% | 48.0% | 48.2% | 50.0% | -19.8% | -57.7% | 69.2% | 41.0% | · | |
| EBITDA Margin | 54.2% | 59.6% | 58.7% | 58.6% | 61.8% | -13.1% | -50.3% | 69.3% | · | · | |
| ROA | 7.1% | 7.0% | 6.5% | 5.8% | 5.9% | -2.2% | · | · | 9.9% | · | |
| ROE | 20.4% | 18.9% | 17.3% | 14.8% | 14.4% | -5.0% | · | · | · | · | |
| ROIC | 9.1% | 9.2% | 8.5% | 7.1% | 7.6% | -1.5% | -5.1% | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.4 | 1.2 | 0.9 | 0.9 | 0.7 | 1.0 | 0.4 | 0.2 | 0.4 | · | |
| Quick Ratio | 1.6 | · | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.2 | 0.4 | · | |
| Debt / Equity | 1.6 | 1.5 | 1.5 | 1.5 | 1.4 | 1.3 | 0.9 | · | · | · | |
| LT Debt / Equity | 1.6 | 1.5 | 1.5 | 1.5 | 1.4 | 1.3 | 0.9 | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 3.7 | 3.0 | · | |
| Receivables Turnover | · | · | · | 1391.8 | 1132.7 | 332.8 | 346.6 | · | · | · |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 7.4% | 6.2% | 13.2% | 2.4% | -0.28% | · | · | · | · | · | |
| Revenue CAGR 3Y | 8.9% | 7.2% | 5.0% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 5.7% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 3.6% | 7.8% | 13.2% | -1.5% | · | · | · | · | · | · | |
| EPS CAGR 3Y | 8.1% | 6.3% | · | · | · | · | · | · | · | · | |
| Net Income YoY | 3.1% | 7.8% | 14.0% | -1.6% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 8.2% | 6.5% | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | -5.7% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.19B | $1.11B | $1.04B | $920M | $898M | $901M | $793M | $143M | $70M | · | |
| Net Income TTM | $413M | $401M | $372M | $326M | $332M | $-123M | $-355M | $67M | $5M | · | |
| Market Cap | $8.43B | $7.23B | $6.01B | $5.16B | $4.62B | $3.67B | $4M | · | · | · | |
| Enterprise Value | $11.48B | · | $9.22B | · | · | $6.77B | $2.89B | · | · | · | |
| P/E | 20.7 | 18.2 | 16.3 | 15.9 | 14.0 | -29.7 | -9.5 | 33.9 | · | · | |
| P/S | 7.1 | 6.5 | 5.8 | 5.6 | 5.1 | 4.1 | 0.0 | · | · | · | |
| P/B | 4.3 | 3.4 | 2.8 | 2.4 | 2.0 | 1.5 | 0.0 | · | · | · | |
| P / Tangible Book | 9.4 | 7.5 | 6.4 | 5.7 | 5.0 | 3.7 | · | · | · | · | |
| P / Cash Flow | 9.0 | 8.6 | 7.7 | 7.4 | 6.5 | 4.9 | 0.0 | · | · | · | |
| P / FCF | · | 9.3 | 7.7 | 10.7 | · | 6.2 | 0.0 | · | · | · | |
| EV / EBITDA | 17.8 | · | 15.1 | · | · | -57.5 | -7.3 | · | · | · | |
| EV / FCF | · | · | 11.8 | · | · | 11.4 | 8.2 | · | · | · | |
| EV / Revenue | 9.7 | · | 8.9 | · | · | 7.5 | 3.7 | · | · | · | |
| Dividend Yield | 5.2% | 6.0% | 7.2% | 8.4% | 10.2% | 16.1% | 13394.6% | · | · | · | |
| Earnings Yield | 4.8% | 5.5% | 6.2% | 6.3% | 7.1% | -3.4% | -10.5% | 2.9% | · | · | |
| Payout Ratio | 106.3% | 109.2% | 117.0% | 132.7% | 142.1% | -481.2% | · | · | 688.6% | · | |
| Annual Payout | $439M | $438M | $435M | $433M | $471M | $590M | $492M | $84M | $16M | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $327M | $314M | $297M | $295M | $305M | $291M | $287M | $270M | $270M | $279M | $260M | $264M | $258M | $259M | $242M | $231M | |
| SG&A Expense | $23M | $22M | $21M | $21M | $22M | $23M | $21M | $23M | $21M | $21M | $18M | $18M | $18M | $17M | $15M | $14M | |
| Operating Expenses | $145M | $126M | $196M | $114M | $119M | $114M | $110M | $107M | $117M | $113M | $104M | $102M | $113M | $111M | $97M | $93M | |
| Operating Income | $182M | $189M | $101M | $180M | $186M | $177M | $178M | $162M | $153M | $166M | $156M | $162M | $146M | $148M | $144M | $138M | |
| Other Non-op | $-27M | $-33M | $-23M | $-19M | $-18M | $-20M | $-22M | $-24M | $-38M | $-26M | $-24M | $-28M | $-29M | $-30M | $-29M | $-23M | |
| Pretax Income | $154M | $156M | $77M | $162M | $168M | $157M | $156M | $138M | $114M | $140M | $131M | $134M | $116M | $118M | $115M | $114M | |
| Income Tax | $41M | $38M | $25M | $46M | $44M | $36M | $45M | $38M | $28M | $36M | $31M | $37M | $29M | $32M | $33M | $30M | |
| Net Income | $114M | $118M | $52M | $116M | $125M | $121M | $111M | $100M | $86M | $104M | $100M | $98M | $87M | $87M | $83M | $84M | |
| EPS (Basic) | $0.24 | $0.25 | $0.11 | $0.24 | $0.26 | $0.25 | $0.22 | $0.21 | $0.18 | $0.22 | $0.21 | $0.20 | $0.18 | $0.18 | $0.16 | $0.18 | |
| EPS (Diluted) | $0.24 | $0.25 | $0.11 | $0.24 | $0.26 | $0.25 | $0.23 | $0.21 | $0.18 | $0.21 | $0.21 | $0.20 | $0.18 | $0.18 | $0.17 | $0.17 | |
| Shares (Basic) | 474,909,000 | 473,866,000 | -958,261,000 | 478,020,000 | 479,083,000 | 479,064,000 | -961,466,000 | 481,288,000 | 481,103,000 | 479,897,000 | -958,412,000 | 479,676,000 | 479,502,000 | 478,612,000 | -956,191,000 | 478,460,000 | |
| Shares (Diluted) | 477,113,000 | 477,963,000 | -966,466,000 | 481,814,000 | 482,451,000 | 484,378,000 | -969,366,000 | 485,532,000 | 484,778,000 | 484,303,000 | -963,439,000 | 482,840,000 | 481,512,000 | 481,459,000 | -960,461,000 | 480,318,000 | |
| EBITDA | $182M | $189M | · | $180M | $186M | $177M | · | $162M | $153M | $166M | · | $162M | $146M | $148M | · | $138M |
Balance Sheet 24
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | · | $180M | · | · | · | · | · | · | $26M | · | · | · | · | · | · | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | · | · | $371.0K | · | $2M | |
| Other Current Assets | $2M | $3M | $3M | $2M | $2M | $3M | $2M | $1M | $963.0K | $2M | · | $811.0K | $795.0K | $2M | · | $556.0K | |
| Current Assets | $141M | $155M | $380M | $113M | $114M | $128M | $118M | $100M | $104M | $134M | · | $96M | $94M | $98M | · | $81M | |
| PP&E (Net) | $3.94B | $3.93B | $3.45B | $3.91B | $3.89B | $3.88B | $3.88B | $3.89B | $3.87B | $3.79B | · | $3.78B | $3.76B | $3.75B | · | $3.51B | |
| PP&E (Gross) | $4.76B | $4.71B | $4.20B | $4.68B | $4.63B | $4.59B | $4.55B | $4.53B | $4.47B | $4.36B | · | $4.28B | $4.22B | $4.18B | · | $3.87B | |
| Accum. Depreciation | $817M | $780M | $745M | $771M | $737M | $703M | $670M | $638M | $606M | $570M | · | $498M | $467M | $432M | · | $364M | |
| Intangibles | $1.65B | $1.68B | $1.07B | $1.09B | $1.11B | $1.13B | $1.14B | $1.16B | $1.18B | $1.20B | · | $1.23B | $1.25B | $1.27B | · | $1.30B | |
| Other Non-current Assets | $11M | $10M | $11M | $12M | $12M | $13M | $13M | $14M | $10M | $10M | · | $12M | $12M | $11M | · | $12M | |
| Total Assets | $6.36B | $6.41B | $5.88B | $5.72B | $5.73B | $5.75B | $5.76B | $5.78B | $5.77B | $5.75B | · | $5.76B | $5.75B | $5.77B | · | $5.56B | |
| Accounts Payable | · | · | · | · | · | · | · | · | · | · | · | · | · | $21M | · | $24M | |
| Accrued Liabilities | $135M | $118M | $92M | $67M | $90M | $67M | $84M | $76M | $96M | $82M | · | $82M | $75M | $69M | · | $73M | |
| Current Liabilities | $167M | $157M | $111M | $90M | $111M | $90M | $101M | $92M | $116M | $107M | · | $111M | $97M | $96M | · | $106M | |
| Deferred Tax | $642M | $601M | $563M | $538M | $490M | $448M | $414M | $369M | $331M | $302M | · | $229M | $192M | $163M | · | $99M | |
| Other Non-current Liabilities | $13M | $12M | $12M | $15M | $15M | $14M | $15M | $15M | $15M | $14M | · | $10M | $5M | $5M | · | $4M | |
| Total Liabilities | $4.42B | $4.47B | $3.91B | $3.65B | $3.64B | $3.66B | $3.65B | $3.65B | $3.65B | $3.60B | · | $3.61B | $3.60B | $3.60B | · | $3.35B | |
| Long-term Debt | $3.57B | $3.67B | $3.22B | $3.01B | $3.02B | $3.11B | $3.12B | $3.17B | $3.19B | $3.17B | · | $3.26B | $3.31B | $3.33B | · | $3.14B | |
| Total Debt | $3.57B | $3.67B | · | $3.01B | $3.02B | $3.11B | · | $3.17B | $3.19B | $3.17B | · | $3.26B | $3.31B | $3.33B | · | $3.14B | |
| Common Stock | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | · | $5M | $5M | $5M | · | $5M | |
| Paid-in Capital | $1.83B | $1.83B | $1.95B | $1.97B | $1.97B | $1.98B | $2.02B | $2.03B | $2.04B | $2.04B | · | $2.05B | $2.06B | $2.08B | · | $2.12B | |
| Retained Earnings | $107M | $104M | $15M | $88M | $112M | $99M | $91M | $100M | $86M | $104M | · | $98M | $87M | $87M | · | $84M | |
| Stockholders' Equity | $1.95B | $1.94B | $1.97B | $2.07B | $2.09B | $2.09B | $2.12B | $2.13B | $2.13B | $2.15B | $2.15B | $2.15B | $2.15B | $2.18B | $2.19B | $2.21B | |
| Liabilities + Equity | $6.36B | $6.41B | $5.88B | $5.72B | $5.73B | $5.75B | $5.76B | $5.78B | $5.77B | $5.75B | · | $5.76B | $5.75B | $5.77B | · | $5.56B | |
| Shares Outstanding | 474,657,000 | 475,028,000 | 474,060,000 | 476,712,000 | 479,011,000 | 479,263,000 | 479,422,000 | 481,295,000 | 481,243,000 | 480,328,000 | 479,713,000 | 479,678,000 | 479,656,000 | 478,645,000 | 478,497,000 | 478,462,000 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $11M | $11M | $11M | $11M | $11M | $12M | $11M | $12M | $12M | $9M | $8M | $8M | $8M | $6M | $6M | $6M | |
| Deferred Tax | $41M | $38M | $25M | $48M | $42M | $34M | $45M | $38M | $28M | $36M | $37M | $37M | $29M | $32M | $33M | $30M | |
| Amort. of Intangibles | $23M | $21M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | |
| Operating Cash Flow | $254M | $239M | $256M | $213M | $265M | $199M | $233M | $185M | $216M | $211M | $208M | $202M | $186M | $183M | $169M | $177M | |
| CapEx | · | · | · | · | · | · | $0 | $-642.0K | $69M | $2M | $0 | $0 | $3.0K | $263.0K | · | · | |
| Investing Cash Flow | $-35M | $-781M | $-50M | $-47M | $-40M | $-32M | $-40M | $-55M | $-111M | $-37M | $-54M | $-45M | $-42M | $-42M | $-278M | $-53M | |
| Stock Repurchased | $8M | $18M | $48M | $41M | $17M | $29M | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-18M | · | · | · | $-29M | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $110M | $111M | $107M | $108M | $112M | $113M | $108M | $109M | $113M | $108M | $108M | $108M | $111M | $108M | $108M | $108M | |
| Financing Cash Flow | $-219M | $279M | $57M | $-166M | $-225M | $-167M | $-193M | $-130M | $-131M | $-147M | $-155M | $-157M | $-144M | $-141M | $109M | $-124M | |
| Net Change in Cash | $0 | $-263M | · | · | · | · | $0 | $0 | $-26M | $26M | · | · | · | · | · | · | |
| Taxes Paid | · | · | $5M | $-5M | · | · | $-208.0K | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | $209M | · | · | · | $182M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 55.6% | 60.0% | · | 61.2% | 61.0% | 60.9% | · | 60.2% | 56.6% | 59.6% | · | 61.5% | 56.3% | 57.2% | · | 59.6% | |
| Net Margin | 34.7% | 37.6% | · | 39.3% | 40.8% | 41.5% | · | 37.0% | 31.9% | 37.2% | · | 37.1% | 33.7% | 33.3% | · | 36.4% | |
| Pretax Margin | 47.2% | 49.6% | · | 54.8% | 55.2% | 53.9% | · | 51.1% | 42.4% | 50.3% | · | 51.0% | 45.0% | 45.5% | · | 49.5% | |
| EBITDA Margin | 55.6% | 60.0% | · | 61.2% | 61.0% | 60.9% | · | 60.2% | 56.6% | 59.6% | · | 61.5% | 56.3% | 57.2% | · | 59.6% | |
| ROA | 1.9% | 1.9% | · | 2.0% | 2.2% | 2.1% | · | 1.7% | 1.5% | 1.8% | · | 1.7% | 1.5% | 1.5% | · | 1.5% | |
| ROE | 5.6% | 5.9% | · | 5.5% | 5.9% | 5.7% | · | 4.7% | 4.0% | 4.8% | · | 4.5% | 4.0% | 3.9% | · | 3.7% | |
| ROIC | 2.4% | 2.5% | · | 2.5% | 2.7% | 2.6% | · | 2.2% | 2.2% | 2.3% | · | 2.2% | 2.0% | 2.0% | · | 1.9% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 1.0 | · | 1.3 | 1.0 | 1.4 | · | 1.1 | 0.9 | 1.2 | · | 0.9 | 1.0 | 1.0 | · | 0.8 | |
| Quick Ratio | · | · | · | · | · | · | · | · | · | 0.2 | · | · | · | 0.0 | · | 0.0 | |
| Debt / Equity | 1.8 | 1.9 | · | 1.5 | 1.4 | 1.5 | · | 1.5 | 1.5 | 1.5 | · | 1.5 | 1.5 | 1.5 | · | 1.4 | |
| LT Debt / Equity | 1.8 | 1.9 | · | 1.5 | 1.4 | 1.5 | · | 1.5 | 1.5 | 1.5 | · | 1.5 | 1.5 | 1.5 | · | 1.4 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | · | · | · | · | · | · | · | · | · | · | · | · | · | 742.4 | · | 162.4 |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.24B | $1.21B | · | $1.16B | $1.14B | $1.11B | · | $1.08B | $1.07B | $1.06B | · | $1.01B | $978M | $938M | · | $903M | |
| Net Income TTM | $472M | $480M | · | $461M | $431M | $410M | · | $388M | $375M | $375M | · | $355M | $337M | $330M | · | $333M | |
| Market Cap | $10.80B | $10.83B | · | $9.27B | $9.08B | $8.63B | · | $7.24B | $7.09B | $6.75B | · | $5.75B | $5.56B | $5.02B | · | $4.39B | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | $9.90B | · | · | · | · | · | · | |
| P/E | 23.0 | 22.8 | · | 20.2 | 21.1 | 21.2 | · | 18.8 | 19.1 | 18.3 | · | 16.4 | 16.6 | 15.2 | · | 13.1 | |
| P/S | 8.7 | 9.0 | · | 8.0 | 8.0 | 7.8 | · | 6.7 | 6.6 | 6.4 | · | 5.7 | 5.7 | 5.4 | · | 4.9 | |
| P/B | 5.6 | 5.6 | · | 4.5 | 4.3 | 4.1 | · | 3.4 | 3.3 | 3.1 | · | 2.7 | 2.6 | 2.3 | · | 2.0 | |
| P / Tangible Book | 36.8 | 42.6 | · | 9.5 | 9.3 | 9.0 | · | 7.5 | 7.5 | 7.1 | · | 6.3 | 6.2 | 5.5 | · | 4.8 | |
| P / Cash Flow | · | 45.4 | · | · | · | 43.4 | · | · | · | 32.1 | · | · | · | 27.5 | · | · | |
| P / FCF | · | · | · | · | · | · | · | · | · | 32.4 | · | · | · | 27.5 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | 59.6 | · | · | · | · | · | · | |
| EV / FCF | · | · | · | · | · | · | · | · | · | 47.5 | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | 9.3 | · | · | · | · | · | · | |
| Earnings Yield | 4.3% | 4.4% | · | 4.9% | 4.8% | 4.7% | · | 5.3% | 5.2% | 5.5% | · | 6.1% | 6.0% | 6.6% | · | 7.6% | |
| Payout Ratio | · | 93.9% | · | · | · | 93.3% | · | · | · | 103.8% | · | · | · | 125.3% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.19B | $1.11B | $1.04B | $920M | $898M |
| Operating Margin % | 54.2% | 59.6% | 58.7% | 58.6% | 61.8% |
| Net Income | $413M | $401M | $372M | $326M | $332M |
| Diluted EPS | $0.86 | $0.83 | $0.77 | $0.68 | $0.69 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 1.6 | 1.5 | 1.5 | 1.5 | 1.4 |
| Current Ratio | 3.4 | 1.2 | 0.9 | 0.9 | 0.7 |
| Quick Ratio | 1.6 | — | 0.0 | 0.0 | 0.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | $774M | $779M | $483M | — |
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Institutional owners (13F) 591 filers · $4.9B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 70 (-20 vs prior Q) | 40 (-4 vs prior Q) | 184 (-16 vs prior Q) | 174 (+29 vs prior Q) | +43.7M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $597,395,690 | 33,580,421 | 12.14% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $413,895,209 | 18,193,196 | 8.41% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $340,312,154 | 14,958,776 | 6.92% | Shares |
| STATE STREET CORP | $262,956,922 | 11,558,546 | 5.35% | Shares |
| TORTOISE CAPITAL ADVISORS, L.L.C. | $231,353,600 | 10,169,389 | 4.70% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $205,728,662 | 9,041,520 | 4.18% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $192,896,102 | 8,478,949 | 3.92% | Shares |
| NEUBERGER BERMAN GROUP LLC | $167,562,952 | 7,365,198 | 3.41% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $83,737,677 | 3,680,777 | 1.70% | Shares |
| Clearbridge Investments, LLC | $83,699,593 | 3,679,103 | 1.70% | Shares |
| ALLIANCEBERNSTEIN L.P. | $82,665,892 | 3,625,697 | 1.68% | Shares |
| NORGES BANK | $77,657,739 | 3,413,527 | 1.58% | Shares |
| Qube Research & Technologies Ltd | $72,567,882 | 3,189,797 | 1.48% | Shares |
| Covalis Capital LLP | $68,966,966 | 3,031,515 | 1.40% | Shares |
| BlackRock, Inc. | $67,548,208 | 2,969,152 | 1.37% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $65,106,155 | 2,861,809 | 1.32% | Shares |
| Gotham Asset Management, LLC | $60,159,440 | 2,644,371 | 1.22% | Shares |
| Clark Capital Management Group, Inc. | $59,522,577 | 2,616,377 | 1.21% | Shares |
| Blackstone Inc. | $59,442,906 | 2,612,875 | 1.21% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $58,475,690 | 2,570,360 | 1.19% | Shares |
| Boston Trust Walden Corp | $57,559,434 | 2,530,085 | 1.17% | Shares |
| Orbis Allan Gray Ltd | $54,380,235 | 2,390,340 | 1.11% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $47,823,412 | 2,102,128 | 0.97% | Shares |
| Brookfield Corp /ON/ | $44,032,625 | 1,935,500 | 0.90% | Shares |
| Brave Warrior Advisors, LLC | $41,487,605 | 1,823,631 | 0.84% | Shares |
| EAGLE GLOBAL ADVISORS LLC | $41,007,853 | 1,802,543 | 0.83% | Shares |
| AMERICAN CENTURY COMPANIES INC | $40,899,631 | 1,797,786 | 0.83% | Shares |
| FMR LLC | $40,037,611 | 1,759,895 | 0.81% | Shares |
| BARCLAYS PLC | $34,634,373 | 1,522,390 | 0.70% | Shares |
| RR Advisors, LLC | $34,434,628 | 1,513,610 | 0.70% | Shares |
| Bank of New York Mellon Corp | $30,385,947 | 1,335,646 | 0.62% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $27,941,275 | 1,228,188 | 0.57% | Shares |
| GOLDMAN SACHS GROUP INC | $25,609,561 | 1,125,695 | 0.52% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $25,474,176 | 1,119,744 | 0.52% | Shares |
| MILLER HOWARD INVESTMENTS INC /NY | $25,123,666 | 1,104,337 | 0.51% | Shares |
| NEOS Investment Management LLC | $24,673,376 | 1,084,544 | 0.50% | Shares |
| JANE STREET GROUP, LLC | $23,985,325 | 1,054,300 | 0.49% | Call option |
| JENNISON ASSOCIATES LLC | $23,898,170 | 1,050,469 | 0.49% | Shares |
| ALPS ADVISORS INC | $23,085,881 | 1,014,764 | 0.47% | Shares |
| Amundi | $21,388,868 | 940,170 | 0.43% | Shares |
| RHUMBLINE ADVISERS | $20,876,298 | 917,641 | 0.42% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $20,422,129 | 897,676 | 0.42% | Shares |
| Cetera Investment Advisers | $20,074,092 | 882,377 | 0.41% | Shares |
| Fiera Capital Corp | $19,845,940 | 872,349 | 0.40% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $17,640,350 | 775,400 | 0.36% | Call option |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $17,168,583 | 754,663 | 0.35% | Shares |
| Columbus Macro, LLC | $17,078,589 | 750,707 | 0.35% | Shares |
| California Public Employees Retirement System | $16,596,739 | 729,527 | 0.34% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $16,581,315 | 728,849 | 0.34% | Shares |
| Freestone Grove Partners LP | $15,895,334 | 698,696 | 0.32% | Shares |
| FRANKLIN RESOURCES INC | $15,507,310 | 681,640 | 0.32% | Shares |
| Swiss National Bank | $15,117,375 | 664,500 | 0.31% | Shares |
| Brandywine Global Investment Management, LLC | $15,102,767 | 848,947 | 0.31% | Shares |
| Edgestream Partners, L.P. | $15,023,258 | 660,363 | 0.31% | Shares |
| ROYAL BANK OF CANADA | $14,499,000 | 637,309 | 0.29% | Shares |
| D. E. Shaw & Co., Inc. | $14,381,185 | 632,140 | 0.29% | Shares |
| CITADEL ADVISORS LLC | $14,375,725 | 631,900 | 0.29% | Call option |
| KAYNE ANDERSON CAPITAL ADVISORS LP | $13,717,909 | 602,985 | 0.28% | Shares |
| LPL Financial LLC | $12,698,579 | 558,179 | 0.26% | Shares |
| SHAH CAPITAL MANAGEMENT | $12,667,883 | 556,830 | 0.26% | Shares |
| BANK OF AMERICA CORP /DE/ | $11,697,049 | 514,156 | 0.24% | Shares |
| Ripple Effect Asset Management LP | $11,664,000 | 600,000 | 0.24% | Put option |
| Cubist Systematic Strategies, LLC | $11,116,396 | 571,831 | 0.23% | Shares |
| Abacus FCF Advisors LLC | $10,788,141 | 474,204 | 0.22% | Shares |
| SIR Capital Management, L.P. | $10,637,855 | 467,598 | 0.22% | Shares |
| Walleye Capital LLC | $10,455,855 | 459,598 | 0.21% | Shares |
| Grey Fox Wealth Advisors, LLC | $10,414,199 | 457,767 | 0.21% | Shares |
| Waverly Advisors, LLC | $10,106,824 | 444,256 | 0.21% | Shares |
| Ripple Effect Asset Management LP | $9,914,400 | 510,000 | 0.20% | Shares |
| AMERIPRISE FINANCIAL INC | $9,859,508 | 433,385 | 0.20% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $9,733,616 | 426,913 | 0.20% | Shares |
| PRUDENTIAL FINANCIAL INC | $9,041,487 | 397,428 | 0.18% | Shares |
| Artisan Partners Limited Partnership | $8,986,432 | 395,008 | 0.18% | Shares |
| CAXTON ASSOCIATES LLP | $8,985,226 | 394,955 | 0.18% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $8,957,244 | 393,725 | 0.18% | Shares |
| Susquehanna Portfolio Strategies, LLC | $8,832,642 | 388,248 | 0.18% | Shares |
| Ruffer LLP | $8,726,851 | 384,010 | 0.18% | Shares |
| Retirement Systems of Alabama | $7,823,338 | 343,883 | 0.16% | Shares |
| Maryland State Retirement & Pension System | $7,499,561 | 329,651 | 0.15% | Shares |
| UBS Group AG | $6,816,105 | 299,609 | 0.14% | Shares |
| Advisors Asset Management, Inc. | $6,630,350 | 439,387 | 0.13% | Shares |
| HENNESSY ADVISORS INC | $6,527,203 | 286,910 | 0.13% | Shares |
| Quantinno Capital Management LP | $6,328,822 | 278,189 | 0.13% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $6,303,820 | 277,091 | 0.13% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $6,220,078 | 273,410 | 0.13% | Shares |
| Phocas Financial Corp. | $6,190,412 | 272,106 | 0.13% | Shares |
| CIBC Bancorp USA Inc. | $5,830,825 | 256,300 | 0.12% | Shares |
| Sanctuary Advisors, LLC | $5,799,931 | 254,942 | 0.12% | Shares |
| Quantbot Technologies LP | $5,758,412 | 253,117 | 0.12% | Shares |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT | $5,710,250 | 251,000 | 0.12% | Shares |
| MML INVESTORS SERVICES, LLC | $5,629,793 | 247,463 | 0.11% | Shares |
| OPPENHEIMER & CO INC | $5,371,503 | 236,110 | 0.11% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $5,354,941 | 235,382 | 0.11% | Shares |
| KLP KAPITALFORVALTNING AS | $5,346,250 | 235,000 | 0.11% | Shares |
| Fractal Investments LLC | $5,309,463 | 233,383 | 0.11% | Shares |
| Aventail Capital Group, LP | $5,288,238 | 232,450 | 0.11% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $5,257,231 | 231,087 | 0.11% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $4,872,254 | 214,165 | 0.10% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $4,866,687 | 213,920 | 0.10% | Shares |
| Nuveen Asset Management, LLC | $4,742,817 | 314,302 | 0.10% | Shares |
Company insiders 32 insiders · 10 officers · 23 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Michael N. Kennedy | Chief Executive Officer and President | May 4, 2026 S | 1,500,594 | 0 | 1 | $-2,192,000 |
| Paul M Rady | Chief Executive Officer | April 15, 2025 F | 3,074,200 | 0 | 0 | $0 |
| Justin J. Agnew | Chief Financial Officer and Vice President - Finance & Investor Relations | March 7, 2026 F | 208,895 | 0 | 0 | $0 |
| Glen C Warren Jr | President and Secretary | April 15, 2021 F | 6,191,816 | 0 | 0 | $0 |
| Yvette K Schultz | Senior Vice President - Legal, Chief Compliance Officer, General Counsel and Corporate Secretary | May 4, 2026 S | 580,565 | 0 | 2 | $-2,087,241 |
| Brendan E. Krueger | Senior Vice President - Finance and Treasurer | March 7, 2026 F | 674,952 | 0 | 0 | $0 |
| Patrick W Ash | Senior Vice President - Reserves, Planning and Midstream | April 15, 2022 A | 453,656 | 0 | 0 | $0 |
| Alvyn A. Schopp | Chief Administrative Officer & Regional Senior Vice President | July 20, 2021 F | 1,947,052 | 0 | 0 | $0 |
| Phil K. Yoo | Vice President - Accounting, Chief Accounting Officer & Corporate Controller | April 15, 2020 F | 130,465 | 0 | 0 | $0 |
| Kevin J. Kilstrom | Sr Vice President - Production | April 15, 2019 A | 1,020,052 | 0 | 0 | $0 |
| Jeffrey S. Munoz | Director | July 10, 2026 A | 13,404 | 0 | 0 | $0 |
| Nancy Chisholm | Director | July 10, 2026 A | 34,208 | 0 | 0 | $0 |
| Howard W Keenan JR | Director | July 10, 2026 A | 157,691 | 0 | 0 | $0 |
| Janine J Mcardle | Director | July 10, 2026 A | 82,424 | 0 | 0 | $0 |
| John C Mollenkopf | Director | July 10, 2026 A | 106,566 | 0 | 0 | $0 |
| David H Keyte | Director | July 10, 2026 A | 117,903 | 0 | 0 | $0 |
| Peter A Dea | Director | July 10, 2026 A | 68,808 | 0 | 0 | $0 |
| Rose M Robeson | Director | April 8, 2022 A | 61,571 | 0 | 0 | $0 |
| Yorktown VIII Associates LLC | Director | Nov. 12, 2019 S | 3,445,636 | 0 | 0 | $0 |
| Yorktown Energy Partners VIII, L.P. | Director | Nov. 12, 2019 S | 3,445,636 | 0 | 0 | $0 |
| Yorktown VII Associates LLC | Director | Nov. 12, 2019 S | 2,232,927 | 0 | 0 | $0 |
| Yorktown Energy Partners VII, L.P. | Director | Nov. 12, 2019 S | 2,232,927 | 0 | 0 | $0 |
| Peter Kagan | Director | Nov. 12, 2019 S | 0 | 0 | 0 | $0 |
| Yorktown VI Associates LLC | Director | Sept. 5, 2019 S | 0 | 0 | 0 | $0 |
| Yorktown Energy Partners VI LP | Director | Sept. 5, 2019 S | 0 | 0 | 0 | $0 |
| Yorktown V CO LLC | Director | Sept. 5, 2019 S | 0 | 0 | 0 | $0 |
| YORKTOWN ENERGY PARTNERS V LP | Director | Sept. 5, 2019 S | 0 | 0 | 0 | $0 |
| David A Peters | Director | July 10, 2019 A | 40,476 | 0 | 0 | $0 |
| James R. Levy | Director | March 12, 2019 A | 55,109,589 | 0 | 0 | $0 |
| Antero Resources Investment LLC | 10% owner | May 12, 2017 J | 5,587,500 | 0 | 0 | $0 |
| Brooks J Klimley | — | Aug. 6, 2026 S | 68,204 | 0 | 3 | $-310,100 |
| Sheri Pearce | — | Aug. 4, 2026 S | 83,900 | 0 | 3 | $-1,356,404 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 8 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Paul M. Rady, Glen C. Warren, Jr., Antero Subsidiary Holdings LLC ×5 filings | May 6, 2020 | — | Initial filing | — | SEC |
| Antero Resources Corporation ×6 filings | May 6, 2020 | — | Initial filing | — | SEC |
| Antero Subsidiary Holdings LLC, Paul M. Rady, Glen C. Warren, Jr. ×4 filings | Dec. 16, 2019 | — | Initial filing | — | SEC |
| Warburg Pincus Private Equity X O&G, L.P., Warburg Pincus X, L.P., Warburg Pincus X GP L.P., WPP GP LLC, Warburg Pincus Partners, L.P., Warburg Pincus Partners GP LLC, Warburg Pincus & Co., Warburg Pincus LLC, Charles R. Kaye, Joseph P. Landy | Nov. 13, 2019 | — | Initial filing | — | SEC |
| Yorktown Energy Partners VII, L.P., Yorktown VII Company LP, Yorktown VII Associates LLC, Yorktown Energy Partners VIII, L.P., Yorktown VIII Company LP, Yorktown VIII Associates LLC | Nov. 13, 2019 | — | Initial filing | — | SEC |
| Yorktown Energy Partners V, L.P., Yorktown V Company LLC, Yorktown Energy Partners VI, L.P., Yorktown VI Company LP, Yorktown VI Associates LLC, Yorktown Energy Partners VII, L.P., Yorktown VII Company LP, Yorktown VII Associates LLC, Yorktown Energy Partners VIII, L.P., Yorktown VIII Company LP, Yorktown VIII Associates LLC ×3 filings | Sept. 9, 2019 | — | Initial filing | — | SEC |
| Warburg Pincus Private Equity VIII, L.P., Warburg Pincus Private Equity X O&G, L.P., Warburg Pincus X, L.P., Warburg Pincus X GP L.P., WPP GP LLC, Warburg Pincus Partners, L.P., Warburg Pincus Partners GP LLC, Warburg Pincus & Co., Warburg Pincus LLC, Charles R. Kaye, Joseph P. Landy ×6 filings | Sept. 6, 2019 | — | Initial filing | — | SEC |
| Glen C. Warren, Jr. ×2 filings | Oct. 11, 2018 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 148 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| NBET · Neuberger Berman ETF Trust | 3.77% | 77,400 NS | April 30, 2026 | N-PORT |
| ADPV · Series Portfolios Trust | 3.68% | 288,409 NS | April 30, 2026 | N-PORT |
| ENFR · ALPS ETF Trust | 3.43% | 751,491 NS | May 31, 2026 | N-PORT |
| LNGX · Global X Funds | 3.00% | 81,906 NS | May 31, 2026 | N-PORT |
| ABLD · Abacus FCF ETF Trust | 2.68% | 104,498 NS | April 30, 2026 | N-PORT |
| BKGI · BNY Mellon ETF Trust | 2.53% | 1,138,471 NS | April 30, 2026 | N-PORT |
| MLPX · Global X Funds | 2.33% | 3,931,195 NS | May 31, 2026 | N-PORT |
| ABFL · Abacus FCF ETF Trust | 2.08% | 472,338 NS | April 30, 2026 | N-PORT |
| TPYP · Tortoise Capital Series Trust | 1.92% | 768,060 NS | May 31, 2026 | N-PORT |
| MCOW · Pacer Funds Trust | 1.70% | 765 NS | April 30, 2026 | N-PORT |
| USAI · Pacer Funds Trust | 1.60% | 79,781 NS | April 30, 2026 | N-PORT |
| BUL · Pacer Funds Trust | 1.30% | 75,632 NS | April 30, 2026 | N-PORT |
| COWG · Pacer Funds Trust | 1.28% | 1,273,551 NS | April 30, 2026 | N-PORT |
| PXI · Invesco Exchange-Traded Fund Trust | 1.23% | 28,990 SH | Aug. 8, 2026 | Daily |
| XMLV · Invesco Exchange-Traded Fund Trust … | 1.20% | 420,921 SH | Aug. 8, 2026 | Daily |
| ALTY · Global X Funds | 1.18% | 24,868 NS | May 31, 2026 | N-PORT |
| HSMV · First Trust Exchange-Traded Fund III | 1.16% | 16,165 NS | April 30, 2026 | N-PORT |
| RFDA · ALPS ETF Trust | 0.96% | 40,109 NS | May 31, 2026 | N-PORT |
| FLRG · FIDELITY COVINGTON TRUST | 0.88% | 113,318 NS | April 30, 2026 | N-PORT |
| FXN · First Trust Exchange-Traded AlphaDE… | 0.80% | 442,010 NS | April 30, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.70% | 40,125 NS | April 30, 2026 | N-PORT |
| XMHQ · Invesco Exchange-Traded Fund Trust | 0.69% | 1,804,679 SH | Aug. 8, 2026 | Daily |
| GYLD · ARROW ETF TRUST | 0.65% | 9,500 NS | April 30, 2026 | N-PORT |
| HIDV · AB Active ETFs, Inc. | 0.61% | 56,113 NS | May 31, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.60% | 7,120 NS | April 30, 2026 | N-PORT |
| SMMV · iShares Trust | 0.53% | 71,342 SH | Aug. 8, 2026 | Daily |
| RFG · Invesco Exchange-Traded Fund Trust | 0.51% | 85,470 SH | Aug. 8, 2026 | Daily |
| XMMO · Invesco Exchange-Traded Fund Trust | 0.50% | 1,753,428 SH | Aug. 8, 2026 | Daily |
| AUSF · Global X Funds | 0.49% | 198,473 NS | May 31, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.40% | 328,070 SH | Aug. 8, 2026 | Daily |
| SIXL · EXCHANGE TRADED CONCEPTS TRUST | 0.40% | 35,685 NS | May 31, 2026 | N-PORT |
| VDE · VANGUARD WORLD FUND | 0.39% | 1,889,468 SH | Aug. 8, 2026 | Daily |
| IJK · iShares Trust | 0.38% | 1,943,173 SH | Aug. 8, 2026 | Daily |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.38% | 90,220 NS | April 30, 2026 | N-PORT |
| JPUS · J.P. Morgan Exchange-Traded Fund Tr… | 0.37% | 75,342 NS | April 30, 2026 | N-PORT |
| JPME · J.P. Morgan Exchange-Traded Fund Tr… | 0.36% | 72,664 NS | April 30, 2026 | N-PORT |
| SMLF · iShares Trust | 0.34% | 664,710 SH | Aug. 8, 2026 | Daily |
| FENY · FIDELITY COVINGTON TRUST | 0.33% | 310,474 NS | April 30, 2026 | N-PORT |
| TOLZ · ProShares Trust | 0.32% | 26,535 NS | May 31, 2026 | N-PORT |
| IYE · iShares Trust | 0.32% | 252,864 SH | Aug. 8, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.30% | 43,398 NS | April 30, 2026 | N-PORT |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.29% | 22,076 NS | May 31, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.28% | 445 NS | May 29, 2026 | N-PORT |
| EWQ · iShares, Inc. | 0.27% | 2,523 SH | Aug. 8, 2026 | Daily |
| PAMC · Pacer Funds Trust | 0.26% | 7,588 NS | April 30, 2026 | N-PORT |
| IGF · iShares Trust | 0.24% | 1,206,867 SH | Aug. 8, 2026 | Daily |
| QGRO · AMERICAN CENTURY ETF TRUST | 0.23% | 240,261 NS | May 31, 2026 | N-PORT |
| FQAL · FIDELITY COVINGTON TRUST | 0.23% | 141,648 NS | April 30, 2026 | N-PORT |
| RDIV · Invesco Exchange-Traded Fund Trust … | 0.23% | 146,564 SH | Aug. 8, 2026 | Daily |
| XJH · iShares Trust | 0.23% | 45,045 SH | Aug. 8, 2026 | Daily |