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| Date | Value |
|---|---|
| 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 |