Antero Midstream (AM) Gross Margin (2019 - 2026)

Antero Midstream's Gross Margin history runs 8 years deep, the most recent figure standing at 77.5% for Q1 2026.

• On a quarterly basis, Gross Margin fell 298.0% year-over-year to 77.5% in Q1 2026; TTM through Mar 2026 was 79.71%, a 53.0% decrease from a year earlier, with the FY2025 full-year figure at 80.49%, up 19.0% from the prior year.
• Gross Margin declined to 77.5% in Q1 2026 per AM's latest filing, from 81.79% in the prior quarter.
• Across five years, Gross Margin topped out at 81.79% in Q4 2025 and bottomed at 77.5% in Q1 2026.
• The 5-year median for Gross Margin is 80.37% (2025), against an average of 80.03%.
• Across the five-year window, Gross Margin tumbled 308 bps in 2023 and jumped 298 bps in 2024, its largest moves.
• Year by year, Gross Margin stood at 80.01% in 2022, then rose by 1 bps to 80.48% in 2023, then gained by 0 bps to 80.55% in 2024, then rose by 2 bps to 81.79% in 2025, then decreased by 5 bps to 77.5% in 2026.
• Per Business Quant, the three latest AM Gross Margin figures stand at 77.5% (Q1 2026), 81.79% (Q4 2025), and 80.37% (Q3 2025).