Filing Flows › Antero Midstream (AM) › How it makes money
How Antero Midstream (AM) makes money
Antero Midstream (AM) made $327M of revenue in the third quarter 2026 (Q3 2026), +81% from a year earlier. Of every dollar of revenue, 170¢ was left as operating profit, 120¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $327M | 100.0% |
| Operating profit | $557M | 170.4% |
| Income tax | $140M | 42.8% |
| Net earnings | $393M | 120.1% |
| Operating cash flow | $600M | 183.6% |
| Free cash flow | $556M | 169.9% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $327M | +11% |
| Q2 2026 | $327M | +7% |
| Q1 2026 | $314M | +8% |
| Q4 2025 | $297M | +3% |
| Q3 2025 | $295M | +9% |
| Q2 2025 | $305M | +13% |
| Q1 2025 | $291M | +4% |
From Antero Midstream's 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does Antero Midstream make money?
Antero Midstream (AM) made $327M of revenue in the third quarter 2026 (Q3 2026), +81% from a year earlier. Of every dollar of revenue, 170¢ was left as operating profit, 120¢ was left as net earnings.
What is Antero Midstream's profit margin?
Net earnings were $393M, 120.1% of revenue, in the third quarter 2026; the operating margin was 170.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.