Antero MidstreamAM -0.27%81 Net Margin % is 35.26% as of Mar. 2026, which is 7% above its 10-year median of 32.93. 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 916 Oil & Gas companies, Antero Midstream ranks better than 90.5% on this metric.
The historical rank and industry rank for Antero Midstream's Net Margin % or its related term are showing as below:
AM'
s Net Margin % Range Over the Past 10 Years
Min: -41.8 Med: 32.93 Max: 34.23
Current: 31.94
AM's Net Margin % is ranked better than 90.5% of 916
companies
in the Oil & Gas industry
Industry Median: 3.435
vs AM: 31.94
Antero Midstream (NYSE:AM) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Antero Midstream Net Margin % Related Terms
Antero Midstream Net Margin % Historical Data
* Premium members only.
The historical data trend for Antero Midstream's Net 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 Net Margin %, along with its competitors' market caps and Net 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 Net Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Antero Midstream's Net Margin % distribution charts can be found below:
* The bar in red indicates where Antero Midstream's Net 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 Net Margin % of 35.26% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Antero Midstream and its competitors. This is near median its historical median of 32.93. According to the industry distribution chart, Antero Midstream ranks #87 out of 916 companies in the Oil & Gas industry, placing it in the top 9.5%.
Is Antero Midstream's Net Margin % too high?
Antero Midstream's current Net Margin % of 35.26% is near median its 10-year median of 32.93. The Oil & Gas industry median Net Margin % is 3.44. Antero Midstream's value of 35.26% is 926.5% above this industry median. Based on the distribution chart, Antero Midstream ranks #87 out of 916 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 Net Margin % compare to VNOM and FRO?
According to the Oil & Gas industry distribution chart, Antero Midstream ranks #87 out of 916 companies for Net Margin %. This places Antero Midstream in the top 10% of its industry — outperforming the majority of peers. The industry median Net Margin % is 3.44. Antero Midstream's value of 35.26% is 926.5% above this benchmark. While the company's 10-year median is 32.93 vs. the industry median of 3.44, 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 Net Margin % for an Oil & Gas company?
The median Net Margin % among Oil & Gas companies is 3.44, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Antero Midstream's current Net Margin % of 35.26% is 926.5% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Antero Midstream and its competitors. For the Oil & Gas industry, the median Net Margin % is 3.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Antero Midstream's current Net Margin % is 35.26%, which is near median its own 10-year median of 32.93. 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 Net Margin % is 35.26%, which is near median its 10-year median of 32.93 and 926.5% above the Oil & Gas industry median of 3.44. 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 Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Antero Midstream (AM), the current Net Margin % is 35.26% 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:
Net Margin %: 35.26% (near median its 10-year median of 32.93)
GF Value™: $17.30 vs. price of $22.15 (28% above fair value)
Industry Position: 926.5% above the Oil & Gas median (#87 of 916)
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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