Antero Midstream (AM) Net Margin (2016 - 2026)
Antero Midstream's Net Margin was 34.69% in Q2 2026, down 6.07 percentage points from 40.76% a year earlier and down 2.95 percentage points from the prior quarter.
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Analysis
Antero Midstream (AM) Net Margin (2016 - 2026) Analysis & Trends
On a trailing twelve-month basis, Antero Midstream's Net Margin was 32.41% through Jun 30, 2026, down 7.12 percentage points year-over-year; for FY2025, it came in at 34.77%, down 1.48 percentage points from FY2024.
- Net Margin shows a five-year change of +48.37 percentage points (FY2020 to FY2025).
- In earlier years, Net Margin was 36.24% in FY2024 (+0.55 pp), 35.69% in FY2023 (+0.23 pp), 35.46% in FY2022 (-1.46 pp) and 36.92% in FY2021 (+50.52 pp).
- Quarterly Net Margin has moved between 17.48% (Q4 2025) and 41.47% (Q1 2025) over five years.
- Compared with a year earlier, Net Margin has declined for three straight quarters, with an average year-over-year change of -1.96 percentage points over the last eight quarters.
- The best year-over-year quarter for Net Margin over five years was Q2 2025 (a gain of 8.87 percentage points); the worst was Q4 2025 (a drop of 21.19 percentage points).
- Per Business Quant data, AM's Net Margin in the three quarters before Q2 2026 was 37.64% (Q1 2026), 17.48% (Q4 2025) and 39.34% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.52 Bn | 100.06 Bn | 4.84 Bn | 4.76% |
| 2 | Enterprise Products Partners | 79.27 Bn | 77.71 Bn | - | 10.07% |
| 3 | Energy Transfer | 69.21 Bn | 62.65 Bn | 7.40 Bn | 5.90% |
| 4 | Kinder Morgan | 68.17 Bn | 69.12 Bn | 3.07 Bn | 19.37% |
| 5 | Tc Energy | 61.09 Bn | 64.16 Bn | 2.81 Bn | 24.94% |
| 6 | Targa Resources | 59.48 Bn | 59.10 Bn | 2.14 Bn | 17.22% |
| 7 | Mplx | 58.45 Bn | 52.01 Bn | 2.91 Bn | 32.82% |
| 8 | Oneok | 55.88 Bn | 54.37 Bn | 2.81 Bn | 8.02% |
| 9 | Cheniere Energy | 55.70 Bn | 55.83 Bn | 5.29 Bn | 53.52% |
| 10 | Antero Midstream | 9.83 Bn | 9.83 Bn | 242.72 Mn | 34.69% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 34.69% |
| Mar 31, 2026 | 37.64% |
| Dec 31, 2025 | 17.48% |
| Sep 30, 2025 | 39.34% |
| Jun 30, 2025 | 40.76% |
| Mar 31, 2025 | 41.47% |
| Dec 31, 2024 | 38.68% |
| Sep 30, 2024 | 36.96% |
| Jun 30, 2024 | 31.89% |
| Mar 31, 2024 | 37.24% |
| Dec 31, 2023 | 38.61% |
| Sep 30, 2023 | 37.08% |
| Jun 30, 2023 | 33.69% |
| Mar 31, 2023 | 33.34% |
| Dec 31, 2022 | 34.28% |
| Sep 30, 2022 | 36.36% |
| Jun 30, 2022 | 34.68% |
| Mar 31, 2022 | 36.63% |
| Dec 31, 2021 | 36.32% |
| Sep 30, 2021 | 39.74% |
API Access
Antero Midstream Net Margin 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=net-margin&ticker=AM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "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=net-margin&ticker=AM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();