Antero MidstreamAM -0.27%81 FCF Margin % is 59.84% as of Mar. 2026, which is 17% above its 10-year median of 51.12. GuruFocus rates AM with a GF Score™ of 81/100 and a GF Value™ of $17.30 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 905 Oil & Gas companies, Antero Midstream ranks better than 97.46% on this metric.
The historical rank and industry rank for Antero Midstream's FCF Margin % or its related term are showing as below:
AM'
s FCF Margin % Range Over the Past 10 Years
Min: 18.57 Med: 51.12 Max: 62.42
Current: 62.42
During the past 11 years, the highest FCF Margin % of Antero Midstream was 62.42%. The lowest was 18.57%. And the median was 51.12%.
AM's FCF Margin % is ranked better than 97.46% of 905
companies
in the Oil & Gas industry
Industry Median: 3.31
vs AM: 62.42
Antero Midstream FCF Margin % Related Terms
Antero Midstream FCF Margin % Historical Data
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The historical data trend for Antero Midstream's FCF Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Midstream subindustry, Antero Midstream's FCF Margin %, along with its competitors' market caps and FCF Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Antero Midstream FCF Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Antero Midstream's FCF Margin % distribution charts can be found below:
* The bar in red indicates where Antero Midstream's FCF Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Antero Midstream (AM) has a FCF Margin % of 59.84% as of Mar. 2026. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Antero Midstream and its competitors. This is 17% above median its historical median of 51.12. Over the past decade, Antero Midstream's FCF Margin % has ranged from 18.57 to 62.42. According to the industry distribution chart, Antero Midstream ranks #23 out of 905 companies in the Oil & Gas industry, placing it in the top 2.5%.
Is Antero Midstream's FCF Margin % too high?
Antero Midstream's current FCF Margin % of 59.84% is 17% above median its 10-year median of 51.12. Over the past 10 years, this metric has ranged from a low of 18.57 to a high of 62.42. The Oil & Gas industry median FCF Margin % is 3.31. Antero Midstream's value of 59.84% is 1707.9% above this industry median. Based on the distribution chart, Antero Midstream ranks #23 out of 905 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Antero Midstream has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Antero Midstream's FCF Margin % compare to VNOM and FRO?
According to the Oil & Gas industry distribution chart, Antero Midstream ranks #23 out of 905 companies for FCF Margin %. This places Antero Midstream in the top 3% of its industry — outperforming the majority of peers. The industry median FCF Margin % is 3.31. Antero Midstream's value of 59.84% is 1707.9% above this benchmark. Historically, Antero Midstream's own FCF Margin % has ranged from 18.57 to 62.42 over the past decade. While the company's 10-year median is 51.12 vs. the industry median of 3.31, Antero Midstream has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for an Oil & Gas company?
The median FCF Margin % among Oil & Gas companies is 3.31, based on 905 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Antero Midstream's current FCF Margin % of 59.84% is 1707.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on Antero Midstream and its competitors. For the Oil & Gas industry, the median FCF Margin % is 3.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Antero Midstream's current FCF Margin % is 59.84%, which is 17% above median its own 10-year median of 51.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Antero Midstream stock overvalued right now?
Based on GuruFocus' analysis, Antero Midstream (AM) is currently considered Modestly Overvalued. The stock's GF Value™ is $17.30, compared to a current price of $22.15 — trading 28% above its estimated fair value. The current FCF Margin % is 59.84%, which is 17% above median its 10-year median of 51.12 and 1707.9% above the Oil & Gas industry median of 3.31. Antero Midstream's overall GF Score™ is 81/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For Antero Midstream (AM), the current FCF Margin % is 59.84% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Antero Midstream (AM) Overvalued in 2026?
Based on GuruFocus' analysis, Antero Midstream stock appears to be overvalued.
The current stock price of $22.15 is trading 28% above its estimated GF Value™ of $17.30.
GuruFocus considers Antero Midstream to be Modestly Overvalued.
Key valuation signals for AM:
FCF Margin %: 59.84% (17% above median its 10-year median of 51.12)
GF Value™: $17.30 vs. price of $22.15 (28% above fair value)
Industry Position: 1707.9% above the Oil & Gas median (#23 of 905)
No single metric tells the full story. See the AM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Antero Midstream Corp is a midstream company that owns, operates, and develops midstream energy assets that service Antero Resources' production and completion activity in the Appalachian Basin, located in West Virginia and Ohio. The company has two operating segments: the Gathering and Processing segment, which includes a network of gathering pipelines and compressor stations that collect and process production from Antero Resources wells in West Virginia and Ohio, and the Water Handling segment, which includes two independent systems that deliver water from sources including the Ohio River, local reservoirs, and several regional waterways. The company derives a majority of its revenue from the Gathering and Processing segment.
81GF Score
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