Antero Midstream (AM) Cost of Revenue (2019 - 2026)
Antero Midstream (AM) recorded Cost of Revenue of $84.53 million in Q2 2026, up 33.9% from $63.11 million a year earlier and up 19.6% from the prior quarter.
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Analysis
Antero Midstream (AM) Cost of Revenue (2019 - 2026) Analysis & Trends
On a TTM basis, Antero Midstream's Cost of Revenue came in at $267.19 million as of Jun 30, 2026, up 17.4% year-over-year; for FY2025, it came in at $231.91 million, up 6.4% from FY2024.
- Annual Cost of Revenue has increased for four straight years, with a five-year compound annual growth rate of 7.0% (FY2020 to FY2025).
- Across earlier years, Cost of Revenue came in at $217.98 million in FY2024 (+2.3%), $213.17 million in FY2023 (+18.3%), $180.25 million in FY2022 (+14.7%) and $157.12 million in FY2021 (-5.0%).
- The Q2 2026 figure is the highest quarterly Cost of Revenue in data going back to Q1 2019.
- On a year-over-year basis, Cost of Revenue rose in six of the last eight quarters, with growth averaging 11.7%.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 37.8% in Q1 2023, against a decline of 6.8% in Q1 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $70.7 million (Q1 2026), $54.08 million (Q4 2025) and $57.89 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 100.40 Bn | 97.94 Bn | 4.84 Bn | 16.35 Bn |
| 2 | Williams Companies | 86.28 Bn | 85.00 Bn | 2.54 Bn | 515.00 Mn |
| 3 | Enterprise Products Partners | 78.15 Bn | 76.58 Bn | - | - |
| 4 | Energy Transfer | 70.55 Bn | 63.99 Bn | 7.40 Bn | 26.94 Bn |
| 5 | Kinder Morgan | 69.13 Bn | 70.08 Bn | 3.07 Bn | 1.41 Bn |
| 6 | Tc Energy | 61.50 Bn | 64.57 Bn | 2.81 Bn | 52.77 Mn |
| 7 | Targa Resources | 60.39 Bn | 60.01 Bn | 2.14 Bn | 2.30 Bn |
| 8 | Mplx | 57.19 Bn | 50.75 Bn | 2.91 Bn | 405.00 Mn |
| 9 | Cheniere Energy | 55.74 Bn | 55.87 Bn | 5.29 Bn | 439.00 Mn |
| 10 | Antero Midstream | 9.66 Bn | 9.66 Bn | 242.72 Mn | 84.53 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 84.53 Mn |
| Mar 31, 2026 | 70.70 Mn |
| Dec 31, 2025 | 54.08 Mn |
| Sep 30, 2025 | 57.89 Mn |
| Jun 30, 2025 | 63.11 Mn |
| Mar 31, 2025 | 56.83 Mn |
| Dec 31, 2024 | 55.93 Mn |
| Sep 30, 2024 | 51.72 Mn |
| Jun 30, 2024 | 56.41 Mn |
| Mar 31, 2024 | 53.92 Mn |
| Dec 31, 2023 | 50.78 Mn |
| Sep 30, 2023 | 51.91 Mn |
| Jun 30, 2023 | 52.60 Mn |
| Mar 31, 2023 | 57.87 Mn |
| Dec 31, 2022 | 48.30 Mn |
| Sep 30, 2022 | 46.65 Mn |
| Jun 30, 2022 | 43.30 Mn |
| Mar 31, 2022 | 42.01 Mn |
| Dec 31, 2021 | 38.75 Mn |
| Sep 30, 2021 | 39.50 Mn |
API Access
Antero Midstream Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "AM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=AM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();