Antero Midstream Partners LP
NYSE: AM · ENERGY · OIL & GAS MIDSTREAM
Updated 2026-06-12
Antero Midstream Partners LP (AM) Financial statements
SEC filings — annual and quarterly data.
Margin trends — annual
| Year | Revenue | Net income | Gross margin | Op. margin | Profit margin |
|---|---|---|---|---|---|
| 2012 | $647000.00 | — | — | — | — |
| 2013 | $22.36M | — | 90.70% | — | — |
| 2014 | $95.75M | $16.83M | 83.84% | 22.41% | 17.58% |
| 2015 | $1.26M | $781000.00 | 100.00% | 100.00% | 61.79% |
| 2016 | $590.21M | $9.71M | 55.70% | 2.73% | 1.65% |
| 2017 | $0.00 | $7.26M | — | — | — |
| 2018 | $1.03B | $443.04M | 56.59% | 59.07% | 43.08% |
| 2019 | $849.60M | $-355.11M | 59.00% | -46.90% | -41.80% |
| 2020 | $971.39M | $-122.53M | 64.50% | -12.11% | -12.61% |
| 2021 | $968.87M | $331.62M | 65.26% | 57.32% | 34.23% |
| 2022 | $990.66M | $326.24M | 61.37% | 54.46% | 32.93% |
| 2023 | $1.11B | $371.79M | 62.25% | 55.00% | 33.42% |
| 2024 | $1.18B | $400.89M | 63.58% | 56.01% | 34.06% |
| 2025 | $1.26B | $413.16M | 65.30% | 51.20% | 32.81% |
Frequently asked questions
What is Antero Midstream Partners LP's revenue?
Antero Midstream Partners LP's trailing twelve-month revenue is $1.29B, and consensus projects about $1.86B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is AM?
In its most recent fiscal year, AM ran a gross margin of 65.30%, an operating margin of 51.20%, and a net margin of 32.81%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does AM generate?
AM produced $770.21M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is AM's balance sheet healthy?
AM holds $180.44M in cash and equivalents against $3.22B in long-term debt, on $1.97B of shareholder equity. That debt is best read against the cash flow the business throws off each year.