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.

• In Q1 2026, Gross Margin fell 298.0% year-over-year to 77.5%; the TTM figure through Mar 2026 stood at 79.71% (down 53.0% YoY), while the FY2025 annual figure was 80.49%, up 19.0% from the prior year.
• Gross Margin was 77.5% for Q1 2026 at Antero Midstream, down from 81.79% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 81.79% in Q4 2025 to a low of 77.5% in Q1 2026.
• Historically, Gross Margin has averaged 80.03% across 5 years, with a median of 80.37% in 2025.
• The sharpest annual moves came in 2023 and 2024: Gross Margin tumbled 308 bps in 2023, then surged 298 bps in 2024.
• A 5-year view of Gross Margin shows it 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.
• The last three Gross Margin figures came in at 77.5% (Q1 2026), 81.79% (Q4 2025), and 80.37% (Q3 2025), per Business Quant data.