Antero Midstream (AM) vs South Bow (SOBO)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
South Bow (SOBO) has outperformed Antero Midstream (AM) over the past year, gaining 16.6% versus a gain of 9.0%. Antero Midstream is the larger company by market cap ($9.90 billion vs $6.96 billion), about 1.4 times the size. On valuation, Antero Midstream trades at a lower forward P/E (12.9x vs 17.2x for South Bow).
South Bow offers the higher dividend yield (5.99% vs 4.32%). Antero Midstream converts more of its revenue into profit, with a net margin of 34.8% versus 21.8%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | AM | SOBO |
|---|---|---|
| Share price | $20.85 | $33.37 |
| Market cap | $9.90B | $6.96B |
| 1-day change | -1.37% | -2.28% |
| YTD return | +17.20% | +21.48% |
| 1-year return | +8.99% | +16.56% |
| 5-year return | +83.70% | — |
| P/E ratio (TTM) | 25.12 | 15.52 |
| Forward P/E | 12.94 | 17.19 |
| EPS (TTM) | $0.83 | $2.15 |
| Dividend yield | 4.32% | 5.99% |
| Annual dividend | $0.90 | $2.00 |
| Revenue (latest FY) | $1.19B | $1.99B |
| Revenue growth (YoY) | +7.43% | -6.32% |
| Net income (latest FY) | $413.16M | $433.00M |
| Gross margin | — | 84.24% |
| Operating margin | 54.25% | — |
| Net margin | 34.77% | 21.80% |
| 52-week high | $23.84 | $39.02 |
| 52-week low | $16.96 | $25.02 |
| Distance from 52-week high | -12.52% | -14.48% |
| Analyst consensus | none | buy |
| Avg. price target upside | +15.11% | +6.20% |
| Average volume | 2.36M | 623.77K |
| Shares outstanding | 474.67M | 208.59M |
| Employees | 632 | — |
| Sector | Energy | Energy |
| Industry | Oil & Gas Midstream | Natural Gas Distribution |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Antero Midstream trades at a higher earnings multiple (25.1x vs 15.5x trailing P/E).
- South Bow offers a meaningfully higher dividend yield (5.99% vs 4.32%).
- Antero Midstream is more profitable, keeping 34.8 cents of every revenue dollar as net income versus 21.8 cents for South Bow.
- Antero Midstream grew revenue faster in its latest fiscal year (+7.43% vs -6.32%).
About Antero Midstream
AM stock →Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling.
Energy · Oil & Gas Midstream · 632 employees
About South Bow
SOBO stock →South Bow Corporation operates as an energy infrastructure company. It operates through three segments: Keystone Pipeline System, Marketing, and Intra-Alberta & Other.
Energy · Natural Gas Distribution
AM vs SOBO FAQ
Which is bigger, Antero Midstream or South Bow?
Antero Midstream (AM) is larger, with a market capitalization of $9.90B compared with $6.96B for South Bow (SOBO).
Which stock has performed better over the past year, AM or SOBO?
SOBO returned +16.56% over the past 12 months, compared with +8.99% for AM (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, AM or SOBO?
SOBO has the lower trailing P/E at 15.5, versus 25.1 for AM. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Antero Midstream or South Bow?
South Bow has the higher yield at 5.99%, compared with 4.32% for Antero Midstream.
Are Antero Midstream and South Bow in the same industry?
Both are in the Energy sector, but in different industries: Oil & Gas Midstream for Antero Midstream and Natural Gas Distribution for South Bow.