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Affirm Holdings, Inc.（AFRM）与Antero Midstream Corp（AM）财务数据对比。点击上方公司名可切换其他公司
Affirm Holdings, Inc.的季度营收约是Antero Midstream Corp的1.4倍（$401.4M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs 32.3%，领先9.2%），Affirm Holdings, Inc.同比增速更快（32.5% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $118.0M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs 3.9%）
Affirm Holdings, Inc.是美国知名金融科技企业、领先的先买后付（BNPL）服务商，由PayPal联合创始人马克斯·列夫琴于2012年创立。截至2025年，平台拥有近2600万用户，年支付处理规模达370亿美元，是美国规模最大的本土BNPL金融机构。
Antero Midstream Corp是美国能源企业，注册地为特拉华州，总部设于科罗拉多州丹佛市。公司全部油气储量均位于阿巴拉契亚盆地，采用水力压裂技术开采，核心业务涵盖油气勘探开发相关领域。
AFRM vs AM — 直观对比
营收规模更大
AFRM
是对方的1.4倍
$291.1M
营收增速更快
AFRM
高出39.8%
-7.3%
净利率更高
AM
高出9.2%
32.3%
自由现金流更多
AM
多$68.9M
$118.0M
两年增速更快
AFRM
近两年复合增速
3.9%
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $291.1M |
| 净利润 | $129.6M | $120.7M |
| 毛利率 | — | — |
| 营业利润率 | 29.3% | 60.9% |
| 净利率 | 32.3% | 41.5% |
| 营收同比 | 32.5% | -7.3% |
| 净利润同比 | 61.3% | 2.1% |
| 每股收益（稀释后） | $0.37 | $0.25 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AFRMAM
| Q1 26 | — | $291.1M | ||
| Q4 25 | $401.4M | $297.0M | ||
| Q3 25 | $320.5M | $294.8M | ||
| Q2 25 | $306.6M | $305.5M | ||
| Q1 25 | $272.5M | $291.1M | ||
| Q4 24 | $303.0M | $287.5M | ||
| Q3 24 | $231.8M | $269.9M | ||
| Q2 24 | $224.0M | $269.8M |
净利润AFRMAM
| Q1 26 | — | $120.7M | ||
| Q4 25 | $129.6M | $51.9M | ||
| Q3 25 | $80.7M | $116.0M | ||
| Q2 25 | $69.2M | $124.5M | ||
| Q1 25 | $2.8M | $120.7M | ||
| Q4 24 | $80.4M | $111.2M | ||
| Q3 24 | $-100.2M | $99.7M | ||
| Q2 24 | $-45.1M | $86.0M |
营业利润率AFRMAM
| Q1 26 | — | 60.9% | ||
| Q4 25 | 29.3% | 33.8% | ||
| Q3 25 | 19.9% | 61.2% | ||
| Q2 25 | 18.9% | 61.0% | ||
| Q1 25 | -3.1% | 60.9% | ||
| Q4 24 | -1.4% | 61.8% | ||
| Q3 24 | -57.2% | 60.2% | ||
| Q2 24 | -32.8% | 56.6% |
净利率AFRMAM
| Q1 26 | — | 41.5% | ||
| Q4 25 | 32.3% | 17.5% | ||
| Q3 25 | 25.2% | 39.3% | ||
| Q2 25 | 22.6% | 40.8% | ||
| Q1 25 | 1.0% | 41.5% | ||
| Q4 24 | 26.5% | 38.7% | ||
| Q3 24 | -43.2% | 37.0% | ||
| Q2 24 | -20.2% | 31.9% |
每股收益（稀释后）AFRMAM
| Q1 26 | — | $0.25 | ||
| Q4 25 | $0.37 | $0.11 | ||
| Q3 25 | $0.23 | $0.24 | ||
| Q2 25 | $0.22 | $0.26 | ||
| Q1 25 | $0.01 | $0.25 | ||
| Q4 24 | $0.23 | $0.23 | ||
| Q3 24 | $-0.31 | $0.21 | ||
| Q2 24 | $-0.13 | $0.18 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.5B | $180.4M |
| 总债务越低越好 | $9.0B | $3.2B |
| 股东权益账面价值 | $3.5B | $2.0B |
| 总资产 | $13.0B | $5.9B |
| 负债/权益比越低杠杆越低 | 2.54× | 1.63× |
8季度趋势，按日历期对齐
现金及短期投资AFRMAM
| Q1 26 | — | $180.4M | ||
| Q4 25 | $1.5B | $180.4M | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.4B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.0B | — |
总债务AFRMAM
| Q1 26 | — | $3.2B | ||
| Q4 25 | $9.0B | $3.2B | ||
| Q3 25 | $7.7B | $3.0B | ||
| Q2 25 | $7.6B | $3.0B | ||
| Q1 25 | $7.1B | $3.1B | ||
| Q4 24 | $7.3B | $3.1B | ||
| Q3 24 | — | $3.2B | ||
| Q2 24 | $1.8B | $3.2B |
股东权益AFRMAM
| Q1 26 | — | $2.0B | ||
| Q4 25 | $3.5B | $2.0B | ||
| Q3 25 | $3.3B | $2.1B | ||
| Q2 25 | $3.1B | $2.1B | ||
| Q1 25 | $2.9B | $2.1B | ||
| Q4 24 | $2.8B | $2.1B | ||
| Q3 24 | $2.8B | $2.1B | ||
| Q2 24 | $2.7B | $2.1B |
总资产AFRMAM
| Q1 26 | — | $5.9B | ||
| Q4 25 | $13.0B | $5.9B | ||
| Q3 25 | $11.5B | $5.7B | ||
| Q2 25 | $11.2B | $5.7B | ||
| Q1 25 | $10.4B | $5.8B | ||
| Q4 24 | $10.5B | $5.8B | ||
| Q3 24 | $10.1B | $5.8B | ||
| Q2 24 | $9.5B | $5.8B |
负债/权益比AFRMAM
| Q1 26 | — | 1.63× | ||
| Q4 25 | 2.54× | 1.63× | ||
| Q3 25 | 2.35× | 1.46× | ||
| Q2 25 | 2.48× | 1.45× | ||
| Q1 25 | 2.49× | 1.49× | ||
| Q4 24 | 2.62× | 1.47× | ||
| Q3 24 | — | 1.49× | ||
| Q2 24 | 0.67× | 1.50× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $173.7M | $198.9M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $186.9M |
| 自由现金流率自由现金流/营收 | 29.4% | 64.2% |
| 资本支出强度资本支出/营收 | 13.9% | 11.1% |
| 现金转化率经营现金流/净利润 | 1.34× | 1.65× |
| 过去12个月自由现金流最近4个季度 | $619.1M | — |
8季度趋势，按日历期对齐
经营现金流AFRMAM
| Q1 26 | — | $198.9M | ||
| Q4 25 | $173.7M | $255.5M | ||
| Q3 25 | $374.6M | $212.8M | ||
| Q2 25 | $74.6M | $265.2M | ||
| Q1 25 | $210.4M | $198.9M | ||
| Q4 24 | $312.0M | $232.7M | ||
| Q3 24 | $196.9M | $184.9M | ||
| Q2 24 | $68.8M | $215.8M |
自由现金流AFRMAM
| Q1 26 | — | $186.9M | ||
| Q4 25 | $118.0M | — | ||
| Q3 25 | $320.2M | — | ||
| Q2 25 | $23.5M | — | ||
| Q1 25 | $157.4M | — | ||
| Q4 24 | $268.1M | — | ||
| Q3 24 | $152.7M | $184.3M | ||
| Q2 24 | $30.5M | $147.2M |
自由现金流率AFRMAM
| Q1 26 | — | 64.2% | ||
| Q4 25 | 29.4% | — | ||
| Q3 25 | 99.9% | — | ||
| Q2 25 | 7.7% | — | ||
| Q1 25 | 57.7% | — | ||
| Q4 24 | 88.5% | — | ||
| Q3 24 | 65.9% | 68.3% | ||
| Q2 24 | 13.6% | 54.6% |
资本支出强度AFRMAM
| Q1 26 | — | 11.1% | ||
| Q4 25 | 13.9% | — | ||
| Q3 25 | 17.0% | — | ||
| Q2 25 | 16.7% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 14.5% | 0.0% | ||
| Q3 24 | 19.0% | 0.2% | ||
| Q2 24 | 17.1% | 25.4% |
现金转化率AFRMAM
| Q1 26 | — | 1.65× | ||
| Q4 25 | 1.34× | 4.92× | ||
| Q3 25 | 4.64× | 1.84× | ||
| Q2 25 | 1.08× | 2.13× | ||
| Q1 25 | 75.03× | 1.65× | ||
| Q4 24 | 3.88× | 2.09× | ||
| Q3 24 | — | 1.85× | ||
| Q2 24 | — | 2.51× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AFRM
| Merchant Network | $328.4M | 82% |
| Virtual Card Network | $73.0M | 18% |
| Commercial Agreement Amazon | $1.9M | 0% |
AM
| Gathering and compression–Antero Resources | $238.0M | 82% |
| Other | $52.3M | 18% |
| Water handling–third party | $505.0K | 0% |
| Gathering and compression–third party | $295.0K | 0% |
