Antero Midstream Corporation (AM) exhibits 41.0% gross margins and 10.2% return on invested capital within Energy (Natural Gas Distribution), balanced against a 19.1x enterprise multiple and 7.2% implied options volatility.
Sustained 41.0% gross profitability converts into 54.2% operating margin and 10.2% ROIC, outpacing sector cost of capital.
ROIC: 10.2% // GM: 41.0%YoY revenue trajectory of +7.4% paired with 8.65% free cash flow yield supports self-funded R&D and capital return.
REV YOY: +7.4% // FCF YLD: 8.65%Altman Z-Score of 2.18 and Piotroski F-Score of 8/9 indicate low near-term refinancing stress.
ALTMAN Z: 2.18 // F-SCORE: 8/9Trading at 24.3x trailing P/E (22.6x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.
P/E: 24.3x // EV/EBITDA: 19.1xOptions market prices a ±7.2% implied move with a 0.58 put/call ratio around $21.00 max pain.
IMPL MOVE: ±7.2% // P/C: 0.58Elevated industry capital intensity and customer concentration in Natural Gas Distribution require continuous execution to defend 35.2% net margins.
NET MARGIN: 35.2% // D/E: 1.63x| FILER | SIDE | $ VALUE |
|---|---|---|
| INSPECT FULL OWNERSHIP LEDGER IN OWN <GO> | ||
| STRIKE / EXP | TYPE | PREMIUM |
|---|---|---|
| INSPECT GEX & CHAIN IN OPT <GO> | ||
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