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Side-by-side financial comparison of Antero Midstream Corp (AM) and Thryv Holdings, Inc. (THRY). Click either name above to swap in a different company.

Antero Midstream Corp is the larger business by last-quarter revenue ($291.1M vs $167.7M, roughly 1.7× Thryv Holdings, Inc.). Antero Midstream Corp runs the higher net margin — 41.5% vs 2.7%, a 38.8% gap on every dollar of revenue. On growth, Antero Midstream Corp posted the faster year-over-year revenue change (-7.3% vs -7.5%). Antero Midstream Corp produced more free cash flow last quarter ($186.9M vs $-5.5M). Over the past eight quarters, Antero Midstream Corp's revenue compounded faster (3.9% CAGR vs -13.5%).

Antero Resources Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado. The company's reserves are entirely in the Appalachian Basin and are extracted using hydraulic fracturing.

Thryv Holdings, Inc. is a publicly traded software as a service (SaaS) company, providing customer relationship management and online reputation management software for small businesses. It has headquarters in Dallas, Texas, and operates in 48 states across the United States of America with more than 2,400 employees. The company began as a conglomerate of Yellow Pages companies. In June 2020, Thryv reported $1.3 billion in revenue over a twelve-month period.

AM vs THRY — Head-to-Head

Bigger by revenue
AM
AM
1.7× larger
AM
$291.1M
$167.7M
THRY
Growing faster (revenue YoY)
AM
AM
+0.2% gap
AM
-7.3%
-7.5%
THRY
Higher net margin
AM
AM
38.8% more per $
AM
41.5%
2.7%
THRY
More free cash flow
AM
AM
$192.4M more FCF
AM
$186.9M
$-5.5M
THRY
Faster 2-yr revenue CAGR
AM
AM
Annualised
AM
3.9%
-13.5%
THRY

Income Statement — Q1 FY2026 vs Q1 FY2026

Metric
AM
AM
THRY
THRY
Revenue
$291.1M
$167.7M
Net Profit
$120.7M
$4.5M
Gross Margin
65.2%
Operating Margin
60.9%
37.3%
Net Margin
41.5%
2.7%
Revenue YoY
-7.3%
-7.5%
Net Profit YoY
2.1%
147.2%
EPS (diluted)
$0.25
$0.10

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AM
AM
THRY
THRY
Q1 26
$291.1M
$167.7M
Q4 25
$297.0M
$191.6M
Q3 25
$294.8M
$201.6M
Q2 25
$305.5M
$210.5M
Q1 25
$291.1M
$181.4M
Q4 24
$287.5M
$186.6M
Q3 24
$269.9M
$179.9M
Q2 24
$269.8M
$224.1M
Net Profit
AM
AM
THRY
THRY
Q1 26
$120.7M
$4.5M
Q4 25
$51.9M
$-9.7M
Q3 25
$116.0M
$5.7M
Q2 25
$124.5M
$13.9M
Q1 25
$120.7M
$-9.6M
Q4 24
$111.2M
$7.9M
Q3 24
$99.7M
$-96.1M
Q2 24
$86.0M
$5.5M
Gross Margin
AM
AM
THRY
THRY
Q1 26
65.2%
Q4 25
68.0%
Q3 25
67.7%
Q2 25
69.7%
Q1 25
65.8%
Q4 24
65.9%
Q3 24
62.3%
Q2 24
66.3%
Operating Margin
AM
AM
THRY
THRY
Q1 26
60.9%
37.3%
Q4 25
33.8%
5.3%
Q3 25
61.2%
9.9%
Q2 25
61.0%
14.0%
Q1 25
60.9%
-1.7%
Q4 24
61.8%
-3.9%
Q3 24
60.2%
-49.2%
Q2 24
56.6%
14.0%
Net Margin
AM
AM
THRY
THRY
Q1 26
41.5%
2.7%
Q4 25
17.5%
-5.0%
Q3 25
39.3%
2.8%
Q2 25
40.8%
6.6%
Q1 25
41.5%
-5.3%
Q4 24
38.7%
4.2%
Q3 24
37.0%
-53.4%
Q2 24
31.9%
2.5%
EPS (diluted)
AM
AM
THRY
THRY
Q1 26
$0.25
$0.10
Q4 25
$0.11
$-0.21
Q3 25
$0.24
$0.13
Q2 25
$0.26
$0.31
Q1 25
$0.25
$-0.22
Q4 24
$0.23
$0.28
Q3 24
$0.21
$-2.65
Q2 24
$0.18
$0.15

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AM
AM
THRY
THRY
Cash + ST InvestmentsLiquidity on hand
$180.4M
$8.0M
Total DebtLower is stronger
$3.2B
Stockholders' EquityBook value
$2.0B
$225.4M
Total Assets
$5.9B
$693.7M
Debt / EquityLower = less leverage
1.63×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AM
AM
THRY
THRY
Q1 26
$180.4M
$8.0M
Q4 25
$180.4M
$10.8M
Q3 25
$11.6M
Q2 25
$10.8M
Q1 25
$11.0M
Q4 24
$16.3M
Q3 24
$12.5M
Q2 24
$15.5M
Total Debt
AM
AM
THRY
THRY
Q1 26
$3.2B
Q4 25
$3.2B
$253.5M
Q3 25
$3.0B
$268.2M
Q2 25
$3.0B
$275.6M
Q1 25
$3.1B
$299.0M
Q4 24
$3.1B
$284.3M
Q3 24
$3.2B
$307.8M
Q2 24
$3.2B
$342.1M
Stockholders' Equity
AM
AM
THRY
THRY
Q1 26
$2.0B
$225.4M
Q4 25
$2.0B
$218.1M
Q3 25
$2.1B
$221.1M
Q2 25
$2.1B
$214.9M
Q1 25
$2.1B
$193.2M
Q4 24
$2.1B
$196.9M
Q3 24
$2.1B
$94.5M
Q2 24
$2.1B
$183.1M
Total Assets
AM
AM
THRY
THRY
Q1 26
$5.9B
$693.7M
Q4 25
$5.9B
$688.6M
Q3 25
$5.7B
$701.8M
Q2 25
$5.7B
$687.7M
Q1 25
$5.8B
$703.7M
Q4 24
$5.8B
$712.2M
Q3 24
$5.8B
$654.8M
Q2 24
$5.8B
$785.5M
Debt / Equity
AM
AM
THRY
THRY
Q1 26
1.63×
Q4 25
1.63×
1.16×
Q3 25
1.46×
1.21×
Q2 25
1.45×
1.28×
Q1 25
1.49×
1.55×
Q4 24
1.47×
1.44×
Q3 24
1.49×
3.26×
Q2 24
1.50×
1.87×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AM
AM
THRY
THRY
Operating Cash FlowLast quarter
$198.9M
Free Cash FlowOCF − Capex
$186.9M
$-5.5M
FCF MarginFCF / Revenue
64.2%
-3.3%
Capex IntensityCapex / Revenue
11.1%
Cash ConversionOCF / Net Profit
1.65×
TTM Free Cash FlowTrailing 4 quarters
$43.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AM
AM
THRY
THRY
Q1 26
$198.9M
Q4 25
$255.5M
$22.2M
Q3 25
$212.8M
$22.2M
Q2 25
$265.2M
$29.6M
Q1 25
$198.9M
$-10.5M
Q4 24
$232.7M
$26.1M
Q3 24
$184.9M
$36.0M
Q2 24
$215.8M
$22.2M
Free Cash Flow
AM
AM
THRY
THRY
Q1 26
$186.9M
$-5.5M
Q4 25
$12.3M
Q3 25
$14.6M
Q2 25
$21.8M
Q1 25
$-17.6M
Q4 24
$17.3M
Q3 24
$184.3M
$27.5M
Q2 24
$147.2M
$13.3M
FCF Margin
AM
AM
THRY
THRY
Q1 26
64.2%
-3.3%
Q4 25
6.4%
Q3 25
7.2%
Q2 25
10.4%
Q1 25
-9.7%
Q4 24
9.3%
Q3 24
68.3%
15.3%
Q2 24
54.6%
5.9%
Capex Intensity
AM
AM
THRY
THRY
Q1 26
11.1%
Q4 25
5.2%
Q3 25
3.8%
Q2 25
3.7%
Q1 25
3.9%
Q4 24
0.0%
4.7%
Q3 24
0.2%
4.7%
Q2 24
25.4%
4.0%
Cash Conversion
AM
AM
THRY
THRY
Q1 26
1.65×
Q4 25
4.92×
Q3 25
1.84×
3.93×
Q2 25
2.13×
2.12×
Q1 25
1.65×
Q4 24
2.09×
3.32×
Q3 24
1.85×
Q2 24
2.51×
4.01×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AM
AM

Gathering and compression–Antero Resources$238.0M82%
Other$52.3M18%
Water handling–third party$505.0K0%
Gathering and compression–third party$295.0K0%

THRY
THRY

SaaS$116.7M70%
Other$50.9M30%

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