AM (Antero Midstream) Moat Score: 4/10 (As of Jun. 24, 2026)


AM Antero Midstream Corp AM
81 GF Score
Price $22.17
GF Value $17.30
Valuation Modestly Overvalued
! 8 Warning Signs
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What is Antero Midstream Moat Score?

Antero Midstream AM -0.20% 81 Moat Score is 4 as of Jun. 24, 2026. 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 1,040 Oil & Gas companies, Antero Midstream ranks better than 87.21% on this metric.

Antero Midstream has the Moat Score of 4, which implies that the company might have Narrow Moat - Discernible but modest moat.

Antero Midstream has Narrow Moat: Antero Midstream has a modest moat due to its strategic positioning in the Appalachian Basin, providing some cost advantages. However, it lacks significant customer switching costs and strong brand loyalty, limiting its moat strength.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Antero Midstream might have Narrow Moat - Discernible but modest moat.

Antero Midstream  (NYSE:AM) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Antero Midstream Moat Score Related Terms

AM vs VNOM, FRO, DTM: Moat Score Comparison

For the Oil & Gas Midstream subindustry, Antero Midstream's Moat Score, along with its competitors' market caps and Moat Score 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 Moat Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Antero Midstream's Moat Score distribution charts can be found below:

* The bar in red indicates where Antero Midstream's Moat Score falls into.


AM
81GF Score
Antero Midstream Corp AM
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 4 mean?
Antero Midstream (AM) has a Moat Score of 4 as of Jun. 24, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, Antero Midstream ranks #133 out of 1040 companies in the Oil & Gas industry, placing it in the top 12.8%.
Is Antero Midstream's Moat Score too high?
Antero Midstream's current Moat Score is 4. The Oil & Gas industry median Moat Score is 1.00. Antero Midstream's value of 4 is 300% above this industry median. Based on the distribution chart, Antero Midstream ranks #133 out of 1040 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 Moat Score compare to VNOM and FRO?
According to the Oil & Gas industry distribution chart, Antero Midstream ranks #133 out of 1040 companies for Moat Score. This places Antero Midstream in the top 13% of its industry — outperforming the majority of peers. The industry median Moat Score is 1.00. Antero Midstream's value of 4 is 300% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for an Oil & Gas company?
The median Moat Score among Oil & Gas companies is 1.00, based on 1,040 companies in the industry. Companies in the top quartile (top 25%) have a Moat Score significantly above this median, while those in the bottom quartile fall well below. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Antero Midstream's current Moat Score of 4 is 300% 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 Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. For the Oil & Gas industry, the median Moat Score is 1.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Antero Midstream's current Moat Score is 4. 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 $22.17 — trading 28.1% above its estimated fair value. The current Moat Score is 4 and 300% above the Oil & Gas industry median of 1.00. 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 Moat Score calculated?
Moat Score is calculated from a company's financial statements. For Antero Midstream (AM), the current Moat Score is 4 as of Jun. 24, 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 $22.17 is trading 28.1% above its estimated GF Value™ of $17.30. GuruFocus considers Antero Midstream to be Modestly Overvalued.

Key valuation signals for AM:

  • Moat Score: 4
  • GF Value™: $17.30 vs. price of $22.17 (28.1% above fair value)
  • GF Score™: 81/100 with 8 warning signs
  • Industry Position: 300% above the Oil & Gas median (#133 of 1040)

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 Business Description

Industry EnergyOil & Gas
Other Exchanges 5711:Germany
Address 1615 Wynkoop Street, Denver, CO, USA, 80202
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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$22.17
Price
$17.30
GF Value