Antero Midstream (AM) Operating Expenses (2016 - 2026)

Antero Midstream (AM) posted Operating Expenses of $125.6 million for Q1 2026, down 36.08% on a QoQ basis from $196.5 million in Q4 2025, and up 10.27% year-on-year from $113.9 million in Q1 2025.

Antero Midstream (AM) Operating Expenses (2016 - 2026) Analysis & Trends

Antero Midstream has disclosed Operating Expenses across 11 years of filings, most recently posting $125.6 million for Q1 2026.

  • Operating Expenses for Q1 2026 came in at $125.6 million, up 10.27% year-over-year; the trailing twelve-month figure through Mar 2026 was $555.5 million (up 23.95% YoY), and the FY2025 annual result was $543.8 million, up 21.64% from the prior year.
  • Operating Expenses came in at $125.6 million for Q1 2026 at Antero Midstream, down from $196.5 million in the prior quarter.
  • Over the last five years, Operating Expenses for AM reached as high as $196.5 million in Q4 2025 and fell as low as $89.3 million in Q1 2022.
  • Median Operating Expenses over the past 5 years was $111.1 million (2023), compared with a mean of $113.3 million.
  • Year-over-year, Operating Expenses dropped 1.32% in 2022 and jumped 79.05% in 2025.
  • Over 5 years, Operating Expenses stood at $97.4 million in 2022, then gained by 7.27% to $104.5 million in 2023, then increased by 5.03% to $109.7 million in 2024, then jumped by 79.05% to $196.5 million in 2025, then sank by 36.08% to $125.6 million in 2026.
  • Per Business Quant, the three latest AM Operating Expenses figures stand at $125.6 million (Q1 2026), $196.5 million (Q4 2025), and $114.3 million (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Enbridge 1,308.38 Bn 1,309.08 Bn 6.70 Bn 13.95 Bn
2 Kinder Morgan 112.34 Bn 113.42 Bn 3.08 Bn 3.38 Bn
3 Enterprise Products Partners 79.55 Bn 78.40 Bn - 12.50 Bn
4 Energy Transfer 65.78 Bn 65.07 Bn 6.62 Bn 1.70 Bn
5 Targa Resources 57.60 Bn 57.63 Bn 1.70 Bn 333.70 Mn
6 Mplx 57.17 Bn 55.67 Bn 2.54 Bn 1.82 Bn
7 Oneok 54.83 Bn 54.70 Bn 2.57 Bn 7.00 Mn
8 Cheniere Energy Partners 29.50 Bn 29.22 Bn 838.00 Mn 274.00 Mn
9 Venture Global 27.41 Bn 27.36 Bn 4.33 Bn 3.45 Bn
10 Antero Midstream 108.06 Mn 108.06 Mn 243.51 Mn 125.60 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 125.60 Mn
Dec 31, 2025 196.50 Mn
Sep 30, 2025 114.33 Mn
Jun 30, 2025 119.03 Mn
Mar 31, 2025 113.91 Mn
Dec 31, 2024 109.74 Mn
Sep 30, 2024 107.44 Mn
Jun 30, 2024 117.04 Mn
Mar 31, 2024 112.80 Mn
Dec 31, 2023 104.49 Mn
Sep 30, 2023 101.53 Mn
Jun 30, 2023 112.76 Mn
Mar 31, 2023 111.13 Mn
Dec 31, 2022 97.41 Mn
Sep 30, 2022 93.26 Mn
Jun 30, 2022 100.51 Mn
Mar 31, 2022 89.34 Mn
Dec 31, 2021 87.97 Mn
Sep 30, 2021 82.98 Mn
Jun 30, 2021 81.39 Mn