Antero Midstream (AM) Operating Margin (2017 - 2026)
Antero Midstream (AM) reported Operating Margin of 55.59% for Q2 2026, down 5.45 percentage points from 61.03% a year earlier and down 4.44 percentage points from the prior quarter.
Powered by 
Analysis
Antero Midstream (AM) Operating Margin (2017 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Antero Midstream's Operating Margin came in at 52.83%, down 8.16 percentage points year-over-year; for FY2025, it came in at 54.25%, down 5.34 percentage points from FY2024.
- Operating Margin has a five-year change of +67.31 percentage points (FY2020 to FY2025).
- By year, Operating Margin came in at 59.59% in FY2024 (+0.86 pp), 58.73% in FY2023 (+0.09 pp), 58.64% in FY2022 (-3.19 pp) and 61.83% in FY2021 (+74.89 pp).
- Five-year quarterly Operating Margin spans a low of 33.84% in Q4 2025 and a high of 63.09% in Q3 2021.
- Year over year, Operating Margin has now declined in each of the last three quarters, with an average year-over-year change of -3.36 percentage points over the last eight quarters.
- The high point for year-over-year Operating Margin in five years was Q2 2025 (a gain of 4.42 percentage points); the low point was Q4 2025 (a drop of 27.98 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 60.03% (Q1 2026), 33.84% (Q4 2025) and 61.22% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Enbridge | 102.52 Bn | 100.06 Bn | 4.84 Bn | 9.93% |
| 2 | Enterprise Products Partners | 79.27 Bn | 77.71 Bn | - | 12.31% |
| 3 | Energy Transfer | 69.21 Bn | 62.65 Bn | 7.40 Bn | 10.41% |
| 4 | Kinder Morgan | 68.17 Bn | 69.12 Bn | 3.07 Bn | 30.06% |
| 5 | Tc Energy | 61.09 Bn | 64.16 Bn | 2.81 Bn | 135.28% |
| 6 | Targa Resources | 59.48 Bn | 59.10 Bn | 2.14 Bn | 27.80% |
| 7 | Mplx | 58.45 Bn | 52.01 Bn | 2.91 Bn | 41.61% |
| 8 | Oneok | 55.88 Bn | 54.37 Bn | 2.81 Bn | 13.22% |
| 9 | Cheniere Energy | 55.70 Bn | 55.83 Bn | 5.29 Bn | 74.84% |
| 10 | Antero Midstream | 9.83 Bn | 9.83 Bn | 242.72 Mn | 55.59% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 55.59% |
| Mar 31, 2026 | 60.03% |
| Dec 31, 2025 | 33.84% |
| Sep 30, 2025 | 61.22% |
| Jun 30, 2025 | 61.03% |
| Mar 31, 2025 | 60.87% |
| Dec 31, 2024 | 61.83% |
| Sep 30, 2024 | 60.19% |
| Jun 30, 2024 | 56.62% |
| Mar 31, 2024 | 59.58% |
| Dec 31, 2023 | 59.84% |
| Sep 30, 2023 | 61.52% |
| Jun 30, 2023 | 56.34% |
| Mar 31, 2023 | 57.17% |
| Dec 31, 2022 | 59.67% |
| Sep 30, 2022 | 59.63% |
| Jun 30, 2022 | 56.09% |
| Mar 31, 2022 | 59.11% |
| Dec 31, 2021 | 59.37% |
| Sep 30, 2021 | 63.09% |
API Access
Antero Midstream Operating 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=operating-margin&ticker=AM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=AM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();