Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The gathering and processing segment includes a network of gathering pipelines and compressor stations that collect and process natural gas and NGLs from Antero Resources' wells in West Virginia and Ohio. The Water Handling segment …
Full AM analysis →
Competitive advantage assessment
Key strengths
Margins Consistently Above PeersGross margin at 65.3% (top 8%) and operating margin at 51.2% (top 8%) indicate strong pricing power.
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.78), demonstrating pricing resilience across cycles.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
Upgrade to unlock the signals and evidence behind each defense.
Premium access
Unlock full defense analysis
Get key signals, strengths, and risks for every moat dimension.
Antero Midstream Corporation ranks #4 of 56
scored companies in Oil & Gas Midstream by moat score — the top 7%.
The widest moat in the group is Hess Midstream LP (HESM)
at 84/100.
Moat scores for companies ranked near AM in Oil & Gas Midstream
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 59
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 96
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 78
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 77
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 60
· 15% of the moat score
Scale matters only when it converts into economics.
What is Antero Midstream Corporation's moat score?
Antero Midstream Corporation (AM) scores 77 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as strong. It ranks #4 of 56 scored companies in Oil & Gas Midstream, the top 7%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 67 companies in Oil & Gas Midstream. Its strongest defense is Customer Stickiness (96/100) and its weakest is Cost Advantage (59/100).
How does Antero Midstream Corporation compare with other Oil & Gas Midstream companies?
Antero Midstream Corporation ranks #4 of 56 scored companies in Oil & Gas Midstream by moat score. The widest moat in Oil & Gas Midstream is Hess Midstream LP (HESM) at 84/100. The companies ranked closest are Sabine Royalty Trust (SBR) at 77 just above it and DT Midstream, Inc. (DTM) at 72 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 67 companies in Oil & Gas Midstream. The defenses are then weighted to produce the overall score out of 100.
Why is Antero Midstream Corporation scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Antero Midstream Corporation?
The Corporate Default template measures 6 defenses, and AM scores: Pricing Power (86), Cost Advantage (59), Customer Stickiness (96), Capital Efficiency (78), Resilience (77), Scale & Market Position (60). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
We value your privacy
We use cookies to enhance your browsing experience, analyze site traffic, and personalize content. By clicking 'Accept All', you consent to our use of cookies.
Read our cookie policy
Cookie Preferences
Manage your cookie preferences. Essential cookies are always enabled.