Verdict: Side-by-side breakdown using the Bull Rankings model. AM scored 45.3, PAGP scored 58.5 — PAGP leads.
Compare another set
AM
Antero Midstream Corporation
Oil & Gas Midstream · Quality-Growth
45.3
$21.09 · $10.0B
fundamentals as of
Score gap
13.2
PAGP leads
PAGP
Plains GP Holdings, L.P.
Oil & Gas Midstream · Quality-Growth
58.5
$26.62 · $6.2B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
CheapestAM25.4x
Fastest growthPAGP+12.2%
Strongest balance sheetPAGP0.56
Highest qualityAM72 / 100
Largest discount to fair valuePAGP-91%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
AM
stronger →← stronger
PAGP
72
Qualityreturns · margins · balance sheet
70
50
Growthrevenue & earnings expansion
50
26
Valuevaluation vs sector peers
57
AM and PAGP split the three pillars evenly.
Fundamentals, head-to-head
AM
PAGP
$776mC+
FCF
$2.4bB
+7.0%C+
Rev
+12.2%B+
1.86C
D/E
0.56B
25.4xC
P/E
60.5xC
1.55C+
PEG
0.67A-
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
AM
PAGP
39% below
Price vs fair valuelower is cheaper
91% below
~-6%/yr
Growth the price impliesyr-1 FCF growth, fading to 4% · lower = less priced in
decline
+56%
1-yr DCF upside
+888%
+63%
5-yr DCF upside
+1006%
+73%
10-yr DCF upside
+1211%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
AM
Why this score
Cyclical growth
PAGP
Why this score
Raising its dividend
Cyclical growth
The companies
AMAntero Midstream Corporation
Oil & Gas Midstream · $21.09 · beta 0.69
Why now
Oil & Gas Midstream · market cap $10.0b. 12% off the 52-week high of $23.84. 7 sell-side analysts publish a mean 1-yr target of $24.00 (implying +14% upside).
Moat
Net margin 30% is exceptional — pricing-power territory rare outside premium software, branded staples, and specialty pharma. ROE 20% is above 15% — the equity base is compounding at a rate the market struggles to discount accurately. FCF converts 194% of net income — earnings translate cleanly into cash.
Risk
Dividend payout 108% of earnings on a 4.3% yield — distribution coverage is thin; one earnings stumble could force a dividend cut. Jurisdictional + permitting risk — mining and extraction operations concentrate exposure to political stability, royalty regimes, and environmental review timelines that can stall production for years.
PAGPPlains GP Holdings, L.P.
Oil & Gas Midstream · $26.62 · beta 0.52
Why now
Oil & Gas Midstream · market cap $6.2b. 7% off the 52-week high of $28.70. Revenue growing +12%, comfortably above the S&P median. PEG 0.67 — paying under fair value for the growth rate. 13 sell-side analysts rate this a Buy with a mean 1-yr target of $26.38 (implying -1% upside).
Moat
Free cash flow runs well ahead of reported net income.
Risk
Trailing P/E 60.5x prices in sustained high growth — any quarter that disappoints triggers sharp re-rating. Dividend payout 363% of earnings on a 6.3% yield — distribution coverage is thin; one earnings stumble could force a dividend cut. Net margin 1.1% is thin — operating leverage cuts both ways; input-cost inflation or pricing pressure hits the bottom line first.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where AM and PAGP diverge
On the headline score the gap is 13.2 points in favor of PAGP. The widest single difference is Value, where PAGP leads by 31.6 points.
ValueAM 25.7 · PAGP 57.3PAGP +31.6
QualityAM 72.4 · PAGP 70.0level
GrowthAM 50.0 · PAGP 50.0level
Pillars run 0–100. Value is judged against each company's own sector, so a Value score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.
Common questions
Is PAGP or AM the better stock?
PAGP scores higher: PAGP 58.5, AM 45.3 out of 100 on the Bull Rankings quality-growth score, which blends business quality, growth and valuation into one number. A higher score means a stronger business at a more reasonable price — it is not a price target or a recommendation.
Where do PAGP and AM differ most?
The widest gap is value, where PAGP leads by 32 points on the 0–100 pillar scale. The other two pillars are close enough to call level, so this is the one place they genuinely separate.
How are PAGP and AM scored?
Each carries the same 0–100 quality-growth score used everywhere on the site, built from three pillars — quality (profitability and returns on capital), growth (revenue and earnings), and value (what you pay for them) — combined as a geometric mean, so a weak pillar cannot be papered over by a strong one.
How current is this comparison?
The whole universe is re-scored every trading day after the US market close, so the scores and fundamentals here reflect the latest published edition.