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Antero Midstream Corp（AM）与亚什兰（ASH）财务数据对比。点击上方公司名可切换其他公司
亚什兰的季度营收约是Antero Midstream Corp的1.3倍（$386.0M vs $297.0M），Antero Midstream Corp净利率更高（17.5% vs -3.1%，领先20.6%），Antero Midstream Corp同比增速更快（3.3% vs -4.7%），过去两年Antero Midstream Corp的营收复合增速更高（3.2% vs -18.1%）
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。
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
AM vs ASH — 直观对比
营收规模更大
ASH
是对方的1.3倍
$297.0M
营收增速更快
AM
高出8.0%
-4.7%
净利率更高
AM
高出20.6%
-3.1%
两年增速更快
AM
近两年复合增速
-18.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $297.0M | $386.0M |
| 净利润 | $51.9M | $-12.0M |
| 毛利率 | — | 27.2% |
| 营业利润率 | 33.8% | -1.6% |
| 净利率 | 17.5% | -3.1% |
| 营收同比 | 3.3% | -4.7% |
| 净利润同比 | -53.3% | 92.7% |
| 每股收益（稀释后） | $0.11 | $-0.26 |
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AMASH
| Q4 25 | $297.0M | $386.0M | ||
| Q3 25 | $294.8M | $477.0M | ||
| Q2 25 | $305.5M | $463.0M | ||
| Q1 25 | $291.1M | $479.0M | ||
| Q4 24 | $287.5M | $405.0M | ||
| Q3 24 | $269.9M | $521.0M | ||
| Q2 24 | $269.8M | $544.0M | ||
| Q1 24 | $279.1M | $575.0M |
净利润AMASH
| Q4 25 | $51.9M | $-12.0M | ||
| Q3 25 | $116.0M | $31.0M | ||
| Q2 25 | $124.5M | $-742.0M | ||
| Q1 25 | $120.7M | $31.0M | ||
| Q4 24 | $111.2M | $-165.0M | ||
| Q3 24 | $99.7M | $17.0M | ||
| Q2 24 | $86.0M | $6.0M | ||
| Q1 24 | $103.9M | $120.0M |
毛利率AMASH
| Q4 25 | — | 27.2% | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 28.5% | ||
| Q1 25 | — | 30.7% | ||
| Q4 24 | — | 27.4% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 34.2% | ||
| Q1 24 | — | 28.0% |
营业利润率AMASH
| Q4 25 | 33.8% | -1.6% | ||
| Q3 25 | 61.2% | 12.8% | ||
| Q2 25 | 61.0% | -152.9% | ||
| Q1 25 | 60.9% | 10.6% | ||
| Q4 24 | 61.8% | -44.2% | ||
| Q3 24 | 60.2% | 6.1% | ||
| Q2 24 | 56.6% | -11.2% | ||
| Q1 24 | 59.6% | 3.7% |
净利率AMASH
| Q4 25 | 17.5% | -3.1% | ||
| Q3 25 | 39.3% | 6.5% | ||
| Q2 25 | 40.8% | -160.3% | ||
| Q1 25 | 41.5% | 6.5% | ||
| Q4 24 | 38.7% | -40.7% | ||
| Q3 24 | 37.0% | 3.3% | ||
| Q2 24 | 31.9% | 1.1% | ||
| Q1 24 | 37.2% | 20.9% |
每股收益（稀释后）AMASH
| Q4 25 | $0.11 | $-0.26 | ||
| Q3 25 | $0.24 | $0.83 | ||
| Q2 25 | $0.26 | $-16.21 | ||
| Q1 25 | $0.25 | $0.65 | ||
| Q4 24 | $0.23 | $-3.50 | ||
| Q3 24 | $0.21 | $0.34 | ||
| Q2 24 | $0.18 | $0.12 | ||
| Q1 24 | $0.21 | $2.39 |
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 | $304.0M |
| 总债务越低越好 | $3.2B | $1.4B |
| 股东权益账面价值 | $2.0B | $1.9B |
| 总资产 | $5.9B | $4.5B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.74× |
8季度趋势，按日历期对齐
现金及短期投资AMASH
| Q4 25 | $180.4M | $304.0M | ||
| Q3 25 | — | $215.0M | ||
| Q2 25 | — | $207.0M | ||
| Q1 25 | — | $168.0M | ||
| Q4 24 | — | $219.0M | ||
| Q3 24 | — | $300.0M | ||
| Q2 24 | — | $399.0M | ||
| Q1 24 | $26.1M | $439.0M |
总债务AMASH
| Q4 25 | $3.2B | $1.4B | ||
| Q3 25 | $3.0B | $1.4B | ||
| Q2 25 | $3.0B | $1.4B | ||
| Q1 25 | $3.1B | $1.3B | ||
| Q4 24 | $3.1B | $1.3B | ||
| Q3 24 | $3.2B | $1.3B | ||
| Q2 24 | $3.2B | $1.3B | ||
| Q1 24 | $3.2B | $1.3B |
股东权益AMASH
| Q4 25 | $2.0B | $1.9B | ||
| Q3 25 | $2.1B | $1.9B | ||
| Q2 25 | $2.1B | $1.9B | ||
| Q1 25 | $2.1B | $2.6B | ||
| Q4 24 | $2.1B | $2.6B | ||
| Q3 24 | $2.1B | $2.9B | ||
| Q2 24 | $2.1B | $3.0B | ||
| Q1 24 | $2.2B | $3.1B |
总资产AMASH
| Q4 25 | $5.9B | $4.5B | ||
| Q3 25 | $5.7B | $4.6B | ||
| Q2 25 | $5.7B | $4.6B | ||
| Q1 25 | $5.8B | $5.2B | ||
| Q4 24 | $5.8B | $5.2B | ||
| Q3 24 | $5.8B | $5.6B | ||
| Q2 24 | $5.8B | $5.7B | ||
| Q1 24 | $5.7B | $5.9B |
负债/权益比AMASH
| Q4 25 | 1.63× | 0.74× | ||
| Q3 25 | 1.46× | 0.73× | ||
| Q2 25 | 1.45× | 0.73× | ||
| Q1 25 | 1.49× | 0.52× | ||
| Q4 24 | 1.47× | 0.51× | ||
| Q3 24 | 1.49× | 0.47× | ||
| Q2 24 | 1.50× | 0.45× | ||
| Q1 24 | 1.48× | 0.42× |
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 | $255.5M | $125.0M |
| 自由现金流经营现金流 - 资本支出 | — | $111.0M |
| 自由现金流率自由现金流/营收 | — | 28.8% |
| 资本支出强度资本支出/营收 | — | 3.6% |
| 现金转化率经营现金流/净利润 | 4.92× | — |
| 过去12个月自由现金流最近4个季度 | — | $200.0M |
8季度趋势，按日历期对齐
经营现金流AMASH
| Q4 25 | $255.5M | $125.0M | ||
| Q3 25 | $212.8M | $40.0M | ||
| Q2 25 | $265.2M | $115.0M | ||
| Q1 25 | $198.9M | $9.0M | ||
| Q4 24 | $232.7M | $-30.0M | ||
| Q3 24 | $184.9M | $80.0M | ||
| Q2 24 | $215.8M | $127.0M | ||
| Q1 24 | $210.6M | $54.0M |
自由现金流AMASH
| Q4 25 | — | $111.0M | ||
| Q3 25 | — | $6.0M | ||
| Q2 25 | — | $95.0M | ||
| Q1 25 | — | $-12.0M | ||
| Q4 24 | — | $-53.0M | ||
| Q3 24 | $184.3M | $42.0M | ||
| Q2 24 | $147.2M | $98.0M | ||
| Q1 24 | $208.5M | $20.0M |
自由现金流率AMASH
| Q4 25 | — | 28.8% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | -2.5% | ||
| Q4 24 | — | -13.1% | ||
| Q3 24 | 68.3% | 8.1% | ||
| Q2 24 | 54.6% | 18.0% | ||
| Q1 24 | 74.7% | 3.5% |
资本支出强度AMASH
| Q4 25 | — | 3.6% | ||
| Q3 25 | — | 7.1% | ||
| Q2 25 | — | 4.3% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | 0.0% | 5.7% | ||
| Q3 24 | 0.2% | 7.3% | ||
| Q2 24 | 25.4% | 5.3% | ||
| Q1 24 | 0.7% | 5.9% |
现金转化率AMASH
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | 1.29× | ||
| Q2 25 | 2.13× | — | ||
| Q1 25 | 1.65× | 0.29× | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | 4.71× | ||
| Q2 24 | 2.51× | 21.17× | ||
| Q1 24 | 2.03× | 0.45× |
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 Low Pressure | $114.2M | 38% |
| Natural Gas Water Handling And Treatment Affiliate | $63.2M | 21% |
| Water Handling | $55.7M | 19% |
| Fresh Water Delivery | $37.2M | 13% |
| Other Fluid Handling | $26.9M | 9% |
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
