Using the latest TTM figures, Antero Midstream shows a gross margin of 76.9%, an operating margin of 81.3%, an EBITDA margin of 100.5%, and a net margin of 53.4%. Margin expansion was strongest in operating margin, which rose by 20.1 percentage points. Gross margin had the strongest contraction, falling by 3.3 percentage points.
AM margin history
Over the last 3 years, Antero Midstream recorded average margins of 79.72% gross, 60.04% operating, 81.23% EBITDA, and 37.71% net. Antero Midstream's current performance shows that operating, EBITDA, and net margins are above their three-year averages and gross margin is below its three-year average.
AM margin expansion
Antero Midstream's operating margin expanded by 20.1 percentage points, EBITDA margin by 18.3 percentage points, and net margin by 13.3 percentage points, but gross margin contracted by 3.3 percentage points.
AM Gross margin
The average gross margin for Antero Midstream was 79.72% over the last 3 years. As of the latest period, the current gross margin for Antero Midstream is 76.9%, 2.8 percentage points below its three-year average. The gross margin for Antero Midstream moved between 76.9% in Sep 2026 and 80.5% in Dec 2025.
AM Operating margin
Over the last 3 years, Antero Midstream recorded an average operating margin of 60.04%. Against its three-year average, Antero Midstream's operating margin is currently 81.3%, 21.3 percentage points above its three-year average. The highest operating margin for Antero Midstream was 81.3% in Sep 2026, while the lowest was 52.8% in Jun 2026.
AM EBITDA margin
Antero Midstream's EBITDA margin averaged 81.23% over the last 3 years. Compared with its three-year average, Antero Midstream's current EBITDA margin is 100.5% and is 19.3 percentage points above its three-year average. Over the last 3 years, Antero Midstream's EBITDA margin peaked at 100.5% in Sep 2026 and reached a low of 72.4% in Jun 2026.
AM Net margin
The average net margin for Antero Midstream was 37.71% over the last 3 years. The current net margin stands at 53.4%, 15.7 percentage points above its three-year average. The net margin for Antero Midstream moved between 32.4% in Jun 2026 and 53.4% in Sep 2026.
AM margin group comparison
Antero Midstream's gross margin of 76.9% is above the Energy sector and the industry average. Looking at its Energy sector average of 42.5%, Antero Midstream's gross margin is 81% higher.
AM margin peer comparison
Frequently asked questions
What is Antero Midstream's gross margin?
The current gross margin for AM is 76.9% as of Sep 30, 2026.
What is Antero Midstream's operating margin?
As of Sep 30, 2026, AM has an operating margin of 81.3%.
What is Antero Midstream's EBITDA margin?
The current EBITDA margin for AM is 100.5% as of Sep 30, 2026.
What is Antero Midstream's net margin?
For the period ending Sep 30, 2026, AM recorded a net margin of 53.4%.
What are the average margins of AM?
Antero Midstream's gross, operating, EBITDA, and net margins averaged 79.7% gross, 60.0% operating, 81.2% EBITDA, and 37.7% net over the last 3 years.
What are the highest historical margins of AM?
Looking back across 5 years, AM reached 82.5% gross in Dec 2021, 81.3% operating in Sep 2026, 100.5% EBITDA in Sep 2026, and 53.4% net in Sep 2026.
What are the lowest historical margins of AM?
Looking back across 5 years, AM reached its lowest margins at 76.9% gross in Sep 2026, 52.8% operating in Jun 2026, 72.4% EBITDA in Jun 2026, and 32.4% net in Jun 2026.