<h2>最近的表现背景</h2>
<p>Antero Midstream (AM) 在股价稳步上涨后悄然引起关注，股票收于 21.98 美元，过去一年和过去三个月均显示出积极的总回报。</p>
<p>请查看我们对 Antero Midstream 的最新分析。</p>
<p>最近一天的股价回报为 1.10%，在年初至今的股价回报 22.52% 之上。五年总股东回报为 220.07%，显示出持续积累的动能。</p>
<p>如果您将 Antero Midstream 与其他能源基础设施项目进行比较，可以扩大视野，看看哪些电网和基础设施股票也在通过我们的 34 只电网技术和基础设施股票获得关注。</p>
<p>凭借稳健的近期回报、3 的价值评分，以及接近分析师目标 23.29 美元的股价，关键问题是 Antero Midstream 是否仍被低估，还是市场已经将其未来增长的预期计入价格。</p>
<h2>最受欢迎的叙述：低估 6%</h2>
<p>最受关注的叙述将 Antero Midstream 的公允价值定为 23.29 美元，略高于最后收盘价 21.98 美元，围绕适度上涨展开当前的讨论。</p>
<blockquote>
<p><em>与 Antero Resources 的长期独占合同，加上超过 20 年的高质量、专用天然气库存，确保了稳定的最低交易量承诺，支持强劲的收益可见性，并降低未来净利润的风险。</em></p>
</blockquote>
<p><em>阅读完整叙述。</em> 阅读完整叙述。</p>
<p>想知道是什么支撑了对利润和交易量的信心吗？该叙述集中在稳定的收入增长、盈利能力上升以及未来收益倍数更高的潜力上。</p>
<p><strong>结果：公允价值为 23.29 美元（被低估）</strong></p>
<p>完整阅读叙述，了解预测背后的内容。</p>
<p>然而，您仍应关注 Antero Midstream 对 Antero Resources 的依赖，以及更严格的环境法规可能对未来利润施加压力的风险。</p>
<p>了解 Antero Midstream 叙述的关键风险。</p>
<h2>估值的另一种角度</h2>
<p>分析师的公允价值为 23.29 美元，表明仅有适度的上涨空间，但当前的市盈率为 25.5 倍，讲述了一个更紧凑的故事。它高于美国石油和天然气行业的 14.9 倍以及同行的 23 倍。然而，它与 25.5 倍的公允比率相符，这引发了关于真正剩余的错误定价空间的问题。</p>
<p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/4f604ce0-a60c-402d-8d89-e7896d582deb/chart/pe-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA1LTE4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/4f604ce0-a60c-402d-8d89-e7896d582deb/chart/pe-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA1LTE4"/></p>
<p>截至 2026 年 5 月的 NYSE:AM 市盈率</p>
<h2>下一步</h2>
<p>在潜在上涨和实际风险并存的情况下，现在是自己查看数据并决定这个故事如何适合您的投资组合的时刻。从更仔细地查看 2 个关键回报和 3 个重要警示信号开始。</p>
<h2>寻找更多投资想法？</h2>
<p>如果您只停留在一只股票上，您可能会错过其他更适合您的目标、风险承受能力和收入需求的机会，使用 Simply Wall Street 的筛选器。</p>
<ul>
<li>通过扫描通过严格基本面检查的公司，专注于折扣优质股票，发现优质股票。</li>
<li>通过关注符合 66 只低风险股票的公司，优先考虑韧性，让您晚上睡得更安稳。</li>
<li>通过查看 14 只股息堡垒中的股票，瞄准可靠的收入来源。</li>
</ul>
<p><em>这篇文章由 Simply Wall St 撰写，性质一般。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成买卖任何股票的推荐，也不考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
<h3><strong>新功能：在一个地方管理您的所有股票投资组合</strong></h3>
<p>我们为股票投资者创建了 <strong>终极投资组合伴侣</strong>，<strong>而且是免费的。</strong></p>
<p>• 连接无限数量的投资组合，并以一种货币查看您的总额</p>
<p>• 通过电子邮件或手机接收新的警示信号或风险通知</p>
<p>• 跟踪您股票的公允价值</p>
<p>免费试用演示投资组合</p>

<p>Antero Midstream (AM) 的表现强劲，年初至今回报率为 22.52%，五年总股东回报率为 220.07%。分析师对该股票的估值为 23.29 美元，表明其当前的 21.98 美元价格被低估。该公司受益于与 Antero Resources 的长期合同，确保了稳定的收益。然而，风险包括对 Antero Resources 的依赖以及可能影响利润率的环境法规。投资者被鼓励评估数据并考虑其他投资机会</p>

<h2>Recent performance context</h2>
<div class="lb-trans"><h2>最近的表现背景</h2>
</div><p>Antero Midstream (AM) has quietly attracted attention after a steady share price move, with the stock closing at US$21.98 and showing positive total returns over the past year and past 3 months.</p>
<div class="lb-trans"><p>Antero Midstream (AM) 在股价稳步上涨后悄然引起关注，股票收于 21.98 美元，过去一年和过去三个月均显示出积极的总回报。</p>
</div><p>See our latest analysis for Antero Midstream.</p>
<div class="lb-trans"><p>请查看我们对 Antero Midstream 的最新分析。</p>
</div><p>That recent 1-day share price return of 1.10% sits on top of a 22.52% year to date share price return. The 5 year total shareholder return of 220.07% points to momentum that has built steadily over time.</p>
<div class="lb-trans"><p>最近一天的股价回报为 1.10%，在年初至今的股价回报 22.52% 之上。五年总股东回报为 220.07%，显示出持续积累的动能。</p>
</div><p>If you are comparing Antero Midstream with other energy infrastructure ideas, it can help to cast the net wider and see which power grid and infrastructure stocks are also gaining attention through our 34 power grid technology and infrastructure stocks</p>
<div class="lb-trans"><p>如果您将 Antero Midstream 与其他能源基础设施项目进行比较，可以扩大视野，看看哪些电网和基础设施股票也在通过我们的 34 只电网技术和基础设施股票获得关注。</p>
</div><p>With solid recent returns, a value score of 3, and shares trading close to the US$23.29 analyst target, the key question is whether Antero Midstream is still undervalued or if the market already prices in its future growth.</p>
<div class="lb-trans"><p>凭借稳健的近期回报、3 的价值评分，以及接近分析师目标 23.29 美元的股价，关键问题是 Antero Midstream 是否仍被低估，还是市场已经将其未来增长的预期计入价格。</p>
</div><h2>Most Popular Narrative: 6% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：低估 6%</h2>
</div><p>The most followed narrative places Antero Midstream's fair value at $23.29, slightly above the last close at $21.98, framing the current debate around modest upside.</p>
<div class="lb-trans"><p>最受关注的叙述将 Antero Midstream 的公允价值定为 23.29 美元，略高于最后收盘价 21.98 美元，围绕适度上涨展开当前的讨论。</p>
</div><blockquote>
<p><em>Long-term, exclusive contracts with Antero Resources, combined with over 20 years of high-quality, dedicated natural gas inventory, ensure stable minimum volume commitments, supporting strong earnings visibility and reducing risk for future net margins.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>与 Antero Resources 的长期独占合同，加上超过 20 年的高质量、专用天然气库存，确保了稳定的最低交易量承诺，支持强劲的收益可见性，并降低未来净利润的风险。</em></p>
</blockquote>
</div><p><em>Read the complete narrative.</em> Read the complete narrative.</p>
<div class="lb-trans"><p><em>阅读完整叙述。</em> 阅读完整叙述。</p>
</div><p>Want to see what sits behind that confidence in margins and volumes? The narrative focuses on steady revenue growth, rising profitability, and the potential for a richer future earnings multiple.</p>
<div class="lb-trans"><p>想知道是什么支撑了对利润和交易量的信心吗？该叙述集中在稳定的收入增长、盈利能力上升以及未来收益倍数更高的潜力上。</p>
</div><p><strong>Result: Fair Value of $23.29 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 23.29 美元（被低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的内容。</p>
</div><p>However, you should still keep an eye on Antero Midstream's reliance on Antero Resources, as well as the risk that stricter environmental rules could pressure future margins.</p>
<div class="lb-trans"><p>然而，您仍应关注 Antero Midstream 对 Antero Resources 的依赖，以及更严格的环境法规可能对未来利润施加压力的风险。</p>
</div><p>Find out about the key risks to this Antero Midstream narrative.</p>
<div class="lb-trans"><p>了解 Antero Midstream 叙述的关键风险。</p>
</div><h2>Another angle on valuation</h2>
<div class="lb-trans"><h2>估值的另一种角度</h2>
</div><p>The analyst fair value of $23.29 points to only modest upside, but the current P/E of 25.5x tells a tighter story. It is higher than both the US Oil and Gas industry at 14.9x and peers at 23x. However, it is in line with a fair ratio of 25.5x, which raises the question of how much room is really left for mispricing.</p>
<div class="lb-trans"><p>分析师的公允价值为 23.29 美元，表明仅有适度的上涨空间，但当前的市盈率为 25.5 倍，讲述了一个更紧凑的故事。它高于美国石油和天然气行业的 14.9 倍以及同行的 23 倍。然而，它与 25.5 倍的公允比率相符，这引发了关于真正剩余的错误定价空间的问题。</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这个价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/4f604ce0-a60c-402d-8d89-e7896d582deb/chart/pe-multiple-vs-industry/query-ZGF0ZT0yMDI2LTA1LTE4" alt="" original-src="https://images.simplywall.st/company/4f604ce0-a60c-402d-8d89-e7896d582deb/chart/pe-multiple-vs-industry?date=2026-05-18"/></p>
<p>NYSE:AM P/E Ratio as at May 2026</p>
<div class="lb-trans"><p>截至 2026 年 5 月的 NYSE:AM 市盈率</p>
</div><h2>Next Steps</h2>
<div class="lb-trans"><h2>下一步</h2>
</div><p>With both upside potential and real risks on the table, this is the moment to look at the data yourself and decide how the story fits your portfolio. Start with a closer look at the 2 key rewards and 3 important warning signs</p>
<div class="lb-trans"><p>在潜在上涨和实际风险并存的情况下，现在是自己查看数据并决定这个故事如何适合您的投资组合的时刻。从更仔细地查看 2 个关键回报和 3 个重要警示信号开始。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>If you stop with just one stock, you could miss other opportunities that better suit your goals, risk comfort, and income needs on Simply Wall Street's screener.</p>
<div class="lb-trans"><p>如果您只停留在一只股票上，您可能会错过其他更适合您的目标、风险承受能力和收入需求的机会，使用 Simply Wall Street 的筛选器。</p>
</div><ul>
<li>Zero in on quality at a discount by scanning companies that pass strict fundamentals checks through the 51 high quality undervalued stocks.</li>
<li>Prioritise resilience and sleep easier at night by focusing on companies that qualify for the 66 resilient stocks with low risk scores.</li>
<li>Target reliable income streams by reviewing stocks highlighted in the 14 dividend fortresses.</li>
</ul>
<div class="lb-trans"><ul>
<li>通过扫描通过严格基本面检查的公司，专注于折扣优质股票，发现优质股票。</li>
<li>通过关注符合 66 只低风险股票的公司，优先考虑韧性，让您晚上睡得更安稳。</li>
<li>通过查看 14 只股息堡垒中的股票，瞄准可靠的收入来源。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>这篇文章由 Simply Wall St 撰写，性质一般。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成买卖任何股票的推荐，也不考虑您的目标或财务状况。我们旨在为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div><h3><strong>New:</strong> Manage All Your Stock Portfolios in One Place</h3>
<div class="lb-trans"><h3><strong>新功能：在一个地方管理您的所有股票投资组合</strong></h3>
</div><p>We've created the <strong>ultimate portfolio companion</strong> for stock investors, <strong>and it's free.</strong></p>
<div class="lb-trans"><p>我们为股票投资者创建了 <strong>终极投资组合伴侣</strong>，<strong>而且是免费的。</strong></p>
</div><p>• Connect an unlimited number of Portfolios and see your total in one currency</p>
<div class="lb-trans"><p>• 连接无限数量的投资组合，并以一种货币查看您的总额</p>
</div><p>• Be alerted to new Warning Signs or Risks via email or mobile</p>
<div class="lb-trans"><p>• 通过电子邮件或手机接收新的警示信号或风险通知</p>
</div><p>• Track the Fair Value of your stocks</p>
<div class="lb-trans"><p>• 跟踪您股票的公允价值</p>
</div><p>Try a Demo Portfolio for Free</p>
<div class="lb-trans"><p>免费试用演示投资组合</p>
</div>

在多年强劲的股东回报之后，评估 Antero Midstream (AM) 的估值