Antero Beneish M Score

AM -  USA Stock  

USD 9.20  0.16  1.71%

This module uses fundamental data of Antero Midstream to approximate the value of its Beneish M Score. Antero Midstream M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Please continue to Antero Midstream Piotroski F Score and Antero Midstream Altman Z Score analysis.

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Antero Midstream Total Debt is relatively stable at the moment as compared to the past year. The company's current value of Total Debt is estimated at 3.36 Billion. Debt Non Current is expected to hike to about 3.4 B this year, although the value of Debt to Equity Ratio will most likely fall to 1.21. Antero Midstream Tangible Assets Book Value per Share are relatively stable at the moment as compared to the past year. The company's current value of Tangible Assets Book Value per Share is estimated at 9.44
At this time, it appears that Antero Midstream Corp is an unlikely manipulator. The earnings manipulation may begin if Antero Midstream's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Antero Midstream executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Antero Midstream's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-3.17
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
1.24
Asset Quality
1.26
Expense Coverage
1.37
Gross Margin Strengs
0.98
Accruals Factor
1.37
Depreciation Resistance
0.89
Net Sales Growth
0.8
Financial Leverage Condition
1.0

Antero Midstream Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Antero Midstream's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Revenues721.8 M900.7 M
Significantly Down
Increasing
Slightly volatile
Selling General and Administrative Expense57.1 M52.2 M
Significantly Up
Increasing
Slightly volatile
Net Cash Flow from Operations812.9 M753.4 M
Significantly Up
Increasing
Slightly volatile
Depreciation Amortization and Accretion116.4 M108.8 M
Notably Up
Increasing
Slightly volatile
Total Assets6.1 B5.6 B
Significantly Up
Increasing
Slightly volatile
Investments779.5 M722.5 M
Significantly Up
Increasing
Slightly volatile
Investments Non Current779.5 M722.5 M
Significantly Up
Increasing
Slightly volatile
Property Plant and Equipment Net3.1 B3.3 B
Notably Down
Decreasing
Slightly volatile
Trade and Non Trade Receivables74.1 M74.6 M
Slightly Down
Increasing
Slightly volatile
Total Liabilities3.4 B3.2 B
Significantly Up
Increasing
Slightly volatile
Current Assets101.3 M93.9 M
Significantly Up
Increasing
Slightly volatile
Assets Non CurrentB5.5 B
Significantly Up
Increasing
Slightly volatile
Current Liabilities85.6 M94 M
Significantly Down
Increasing
Slightly volatile
Liabilities Non Current2.8 B3.1 B
Moderately Down
Increasing
Slightly volatile
Total Debt3.4 B3.1 B
Significantly Up
Increasing
Slightly volatile
Debt Non Current3.4 B3.1 B
Significantly Up
Increasing
Slightly volatile
Operating Income(126.9 M)(117.6 M)
Significantly Down
Decreasing
Slightly volatile
Gross Margin0.80.816
Fairly Down
Decreasing
Slightly volatile

Antero Midstream Corp Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Antero Midstream's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Antero Midstream in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Antero Midstream's degree of accounting gimmicks and manipulations.

About Antero Midstream Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Cost of Revenue

163.09 MillionShare
Antero Midstream Cost of Revenue is relatively stable at the moment as compared to the past year. The company's current value of Cost of Revenue is estimated at 163.09 Million

About Antero Midstream Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Antero Midstream Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Antero Midstream using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Antero Midstream Corp based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure. The company was incorporated in 2013 and is headquartered in Denver, Colorado. Antero Midstream operates under Oil Gas Midstream classification in the United States and is traded on New York Stock Exchange. It employs 522 people.

Antero Midstream Investors Sentiment

The influence of Antero Midstream's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in Antero. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.

Current Sentiment - AM

Antero Midstream Corp Investor Sentiment

Larger part of Macroaxis users are presently bullish on Antero Midstream Corp. What is your sentiment towards investing in Antero Midstream Corp? Are you bullish or bearish?
Bullish
Bearish
98% Bullish
2% Bearish
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Pair Trading with Antero Midstream

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Antero Midstream position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Antero Midstream will appreciate offsetting losses from the drop in the long position's value.

Antero Midstream Pair Correlation

Equities Pair Trading Analysis

Correlation analysis and pair trading evaluation for Antero Midstream and Flex Lng. Pair trading can be used as a hedging technique within a particular sector or industry or even over random equities to generate better risk-adjusted return
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Please continue to Antero Midstream Piotroski F Score and Antero Midstream Altman Z Score analysis. Note that the Antero Midstream Corp information on this page should be used as a complementary analysis to other Antero Midstream's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.

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The market value of Antero Midstream Corp is measured differently than its book value, which is the value of Antero that is recorded on the company's balance sheet. Investors also form their own opinion of Antero Midstream's value that differs from its market value or its book value, called intrinsic value, which is Antero Midstream's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Antero Midstream's market value can be influenced by many factors that don't directly affect Antero Midstream Corp underlying business (such as pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Antero Midstream's value and its price as these two are different measures arrived at by different means. Investors typically determine Antero Midstream value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Antero Midstream's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.