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Antero Midstream Corp（AM）与Andersons, Inc.（ANDE）财务数据对比。点击上方公司名可切换其他公司
Andersons, Inc.的季度营收约是Antero Midstream Corp的1.1倍（$329.5M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs 20.5%，领先21.0%），Andersons, Inc.同比增速更快（-2.4% vs -7.3%），过去两年Antero Midstream Corp的营收复合增速更高（3.9% vs -1.8%）
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。
安德森公司（The Andersons, Inc.）是1947年成立的美国农业企业，总部位于俄亥俄州莫米。公司起源于1940年代服务粮食行业的安德森货运站，是深耕农业领域的多元化企业，业务覆盖大宗商品贸易、可再生能源以及植物营养板块。
AM vs ANDE — 直观对比
营收规模更大
ANDE
是对方的1.1倍
$291.1M
营收增速更快
ANDE
高出5.0%
-7.3%
净利率更高
AM
高出21.0%
20.5%
两年增速更快
AM
近两年复合增速
-1.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $329.5M |
| 净利润 | $120.7M | $67.4M |
| 毛利率 | — | 70.3% |
| 营业利润率 | 60.9% | 26.6% |
| 净利率 | 41.5% | 20.5% |
| 营收同比 | -7.3% | -2.4% |
| 净利润同比 | 2.1% | 49.6% |
| 每股收益（稀释后） | $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AMANDE
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $329.5M | ||
| Q3 25 | $294.8M | $295.8M | ||
| Q2 25 | $305.5M | $535.0M | ||
| Q1 25 | $291.1M | $370.8M | ||
| Q4 24 | $287.5M | $337.5M | ||
| Q3 24 | $269.9M | $231.9M | ||
| Q2 24 | $269.8M | $492.5M |
净利润AMANDE
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $67.4M | ||
| Q3 25 | $116.0M | $20.1M | ||
| Q2 25 | $124.5M | $7.9M | ||
| Q1 25 | $120.7M | $284.0K | ||
| Q4 24 | $111.2M | $45.1M | ||
| Q3 24 | $99.7M | $27.4M | ||
| Q2 24 | $86.0M | $36.0M |
毛利率AMANDE
| Q1 26 | — | — | ||
| Q4 25 | — | 70.3% | ||
| Q3 25 | — | 57.8% | ||
| Q2 25 | — | 29.6% | ||
| Q1 25 | — | 41.2% | ||
| Q4 24 | — | 63.1% | ||
| Q3 24 | — | 76.4% | ||
| Q2 24 | — | 35.6% |
营业利润率AMANDE
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 26.6% | ||
| Q3 25 | 61.2% | 8.7% | ||
| Q2 25 | 61.0% | 4.6% | ||
| Q1 25 | 60.9% | 0.9% | ||
| Q4 24 | 61.8% | 19.9% | ||
| Q3 24 | 60.2% | 26.8% | ||
| Q2 24 | 56.6% | 11.6% |
净利率AMANDE
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 20.5% | ||
| Q3 25 | 39.3% | 6.8% | ||
| Q2 25 | 40.8% | 1.5% | ||
| Q1 25 | 41.5% | 0.1% | ||
| Q4 24 | 38.7% | 13.4% | ||
| Q3 24 | 37.0% | 11.8% | ||
| Q2 24 | 31.9% | 7.3% |
每股收益（稀释后）AMANDE
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.24 | $0.59 | ||
| Q2 25 | $0.26 | $0.23 | ||
| Q1 25 | $0.25 | $0.01 | ||
| Q4 24 | $0.23 | $1.31 | ||
| Q3 24 | $0.21 | $0.80 | ||
| Q2 24 | $0.18 | $1.05 |
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 | $180.4M | $98.3M |
| 总债务越低越好 | $3.2B | $560.0M |
| 股东权益账面价值 | $2.0B | $1.2B |
| 总资产 | $5.9B | $3.7B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.45× |
8季度趋势，按日历期对齐
现金及短期投资AMANDE
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $98.3M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $561.8M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总债务AMANDE
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $560.0M | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | $608.2M | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — |
股东权益AMANDE
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.1B | $1.4B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.1B | $1.4B | ||
| Q3 24 | $2.1B | $1.3B | ||
| Q2 24 | $2.1B | $1.3B |
总资产AMANDE
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $3.7B | ||
| Q3 25 | $5.7B | $3.3B | ||
| Q2 25 | $5.7B | $3.4B | ||
| Q1 25 | $5.8B | $3.8B | ||
| Q4 24 | $5.8B | $4.1B | ||
| Q3 24 | $5.8B | $3.4B | ||
| Q2 24 | $5.8B | $3.3B |
负债/权益比AMANDE
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.45× | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | 1.47× | 0.45× | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 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 | $198.9M | $-6.2M |
| 自由现金流经营现金流 - 资本支出 | — | $-77.1M |
| 自由现金流率自由现金流/营收 | — | -23.4% |
| 资本支出强度资本支出/营收 | 11.1% | 21.5% |
| 现金转化率经营现金流/净利润 | 1.65× | -0.09× |
| 过去12个月自由现金流最近4个季度 | — | $-56.1M |
8季度趋势，按日历期对齐
经营现金流AMANDE
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $-6.2M | ||
| Q3 25 | $212.8M | $233.9M | ||
| Q2 25 | $265.2M | $299.3M | ||
| Q1 25 | $198.9M | $-350.0M | ||
| Q4 24 | $232.7M | $268.8M | ||
| Q3 24 | $184.9M | $-2.1M | ||
| Q2 24 | $215.8M | $304.4M |
自由现金流AMANDE
| Q1 26 | — | — | ||
| Q4 25 | — | $-77.1M | ||
| Q3 25 | — | $167.0M | ||
| Q2 25 | — | $250.5M | ||
| Q1 25 | — | $-396.6M | ||
| Q4 24 | — | $212.9M | ||
| Q3 24 | $184.3M | $-40.0M | ||
| Q2 24 | $147.2M | $275.8M |
自由现金流率AMANDE
| Q1 26 | — | — | ||
| Q4 25 | — | -23.4% | ||
| Q3 25 | — | 56.5% | ||
| Q2 25 | — | 46.8% | ||
| Q1 25 | — | -106.9% | ||
| Q4 24 | — | 63.1% | ||
| Q3 24 | 68.3% | -17.2% | ||
| Q2 24 | 54.6% | 56.0% |
资本支出强度AMANDE
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 21.5% | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | — | 9.1% | ||
| Q1 25 | — | 12.6% | ||
| Q4 24 | 0.0% | 16.6% | ||
| Q3 24 | 0.2% | 16.3% | ||
| Q2 24 | 25.4% | 5.8% |
现金转化率AMANDE
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | -0.09× | ||
| Q3 25 | 1.84× | 11.61× | ||
| Q2 25 | 2.13× | 38.10× | ||
| Q1 25 | 1.65× | -1232.46× | ||
| Q4 24 | 2.09× | 5.96× | ||
| Q3 24 | 1.85× | -0.08× | ||
| Q2 24 | 2.51× | 8.46× |
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
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% |
ANDE
| Specialty And Primary Nutrients | $137.1M | 42% |
| Premium Ingredients | $66.1M | 20% |
| Segment Reporting Reconciling Item Other | $63.2M | 19% |
| Other | $63.1M | 19% |
