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Antero Midstream Corp（AM）与Cadre Holdings, Inc.（CDRE）财务数据对比。点击上方公司名可切换其他公司
Antero Midstream Corp的季度营收约是Cadre Holdings, Inc.的1.7倍（$291.1M vs $167.2M），Antero Midstream Corp净利率更高（41.5% vs 7.0%，领先34.5%），Cadre Holdings, Inc.同比增速更快（-5.0% vs -7.3%），过去两年Cadre Holdings, Inc.的营收复合增速更高（10.1% vs 3.9%）
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。
Cadre Holdings, Inc.是美国金融科技企业，面向个人及机构客户提供房地产投资项目直投渠道，覆盖纽约等地的商业地产。公司打造的投资平台支持投资者自主选择参与的具体交易项目，且投资门槛远低于全额收购物业所需资金，让不动产投资变得更接近股票交易，获得财经媒体的广泛认可。
AM vs CDRE — 直观对比
营收规模更大
AM
是对方的1.7倍
$167.2M
营收增速更快
CDRE
高出2.4%
-7.3%
净利率更高
AM
高出34.5%
7.0%
两年增速更快
CDRE
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $167.2M |
| 净利润 | $120.7M | $11.7M |
| 毛利率 | — | 43.4% |
| 营业利润率 | 60.9% | 12.2% |
| 净利率 | 41.5% | 7.0% |
| 营收同比 | -7.3% | -5.0% |
| 净利润同比 | 2.1% | -9.6% |
| 每股收益（稀释后） | $0.25 | $0.22 |
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AMCDRE
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $167.2M | ||
| Q3 25 | $294.8M | $155.9M | ||
| Q2 25 | $305.5M | $157.1M | ||
| Q1 25 | $291.1M | $130.1M | ||
| Q4 24 | $287.5M | $176.0M | ||
| Q3 24 | $269.9M | $109.4M | ||
| Q2 24 | $269.8M | $144.3M |
净利润AMCDRE
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $11.7M | ||
| Q3 25 | $116.0M | $10.9M | ||
| Q2 25 | $124.5M | $12.2M | ||
| Q1 25 | $120.7M | $9.2M | ||
| Q4 24 | $111.2M | $13.0M | ||
| Q3 24 | $99.7M | $3.7M | ||
| Q2 24 | $86.0M | $12.6M |
毛利率AMCDRE
| Q1 26 | — | — | ||
| Q4 25 | — | 43.4% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 40.9% | ||
| Q1 25 | — | 43.1% | ||
| Q4 24 | — | 43.9% | ||
| Q3 24 | — | 36.6% | ||
| Q2 24 | — | 40.6% |
营业利润率AMCDRE
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 12.2% | ||
| Q3 25 | 61.2% | 12.0% | ||
| Q2 25 | 61.0% | 9.3% | ||
| Q1 25 | 60.9% | 10.4% | ||
| Q4 24 | 61.8% | 16.7% | ||
| Q3 24 | 60.2% | 5.0% | ||
| Q2 24 | 56.6% | 13.8% |
净利率AMCDRE
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 7.0% | ||
| Q3 25 | 39.3% | 7.0% | ||
| Q2 25 | 40.8% | 7.8% | ||
| Q1 25 | 41.5% | 7.1% | ||
| Q4 24 | 38.7% | 7.4% | ||
| Q3 24 | 37.0% | 3.3% | ||
| Q2 24 | 31.9% | 8.7% |
每股收益（稀释后）AMCDRE
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $0.22 | ||
| Q3 25 | $0.24 | $0.27 | ||
| Q2 25 | $0.26 | $0.30 | ||
| Q1 25 | $0.25 | $0.23 | ||
| Q4 24 | $0.23 | $0.32 | ||
| Q3 24 | $0.21 | $0.09 | ||
| Q2 24 | $0.18 | $0.31 |
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 | $122.9M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | $317.8M |
| 总资产 | $5.9B | $770.0M |
| 负债/权益比越低杠杆越低 | 1.63× | — |
8季度趋势，按日历期对齐
现金及短期投资AMCDRE
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $122.9M | ||
| Q3 25 | — | $150.9M | ||
| Q2 25 | — | $137.5M | ||
| Q1 25 | — | $133.4M | ||
| Q4 24 | — | $124.9M | ||
| Q3 24 | — | $93.0M | ||
| Q2 24 | — | $105.9M |
总债务AMCDRE
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — |
股东权益AMCDRE
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $317.8M | ||
| Q3 25 | $2.1B | $340.4M | ||
| Q2 25 | $2.1B | $332.5M | ||
| Q1 25 | $2.1B | $317.6M | ||
| Q4 24 | $2.1B | $311.5M | ||
| Q3 24 | $2.1B | $300.3M | ||
| Q2 24 | $2.1B | $299.4M |
总资产AMCDRE
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $770.0M | ||
| Q3 25 | $5.7B | $792.1M | ||
| Q2 25 | $5.7B | $794.4M | ||
| Q1 25 | $5.8B | $656.3M | ||
| Q4 24 | $5.8B | $652.7M | ||
| Q3 24 | $5.8B | $616.6M | ||
| Q2 24 | $5.8B | $620.6M |
负债/权益比AMCDRE
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | 1.47× | — | ||
| 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 | $21.3M |
| 自由现金流经营现金流 - 资本支出 | — | $18.0M |
| 自由现金流率自由现金流/营收 | — | 10.7% |
| 资本支出强度资本支出/营收 | 11.1% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.65× | 1.81× |
| 过去12个月自由现金流最近4个季度 | — | $56.8M |
8季度趋势，按日历期对齐
经营现金流AMCDRE
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $21.3M | ||
| Q3 25 | $212.8M | $22.5M | ||
| Q2 25 | $265.2M | $2.6M | ||
| Q1 25 | $198.9M | $17.4M | ||
| Q4 24 | $232.7M | $23.7M | ||
| Q3 24 | $184.9M | $-5.2M | ||
| Q2 24 | $215.8M | $11.1M |
自由现金流AMCDRE
| Q1 26 | — | — | ||
| Q4 25 | — | $18.0M | ||
| Q3 25 | — | $21.6M | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $16.1M | ||
| Q4 24 | — | $22.4M | ||
| Q3 24 | $184.3M | $-6.2M | ||
| Q2 24 | $147.2M | $9.1M |
自由现金流率AMCDRE
| Q1 26 | — | — | ||
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 13.9% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 12.4% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | 68.3% | -5.7% | ||
| Q2 24 | 54.6% | 6.3% |
资本支出强度AMCDRE
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | 0.0% | 0.7% | ||
| Q3 24 | 0.2% | 0.9% | ||
| Q2 24 | 25.4% | 1.4% |
现金转化率AMCDRE
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | 1.81× | ||
| Q3 25 | 1.84× | 2.05× | ||
| Q2 25 | 2.13× | 0.21× | ||
| Q1 25 | 1.65× | 1.88× | ||
| Q4 24 | 2.09× | 1.83× | ||
| Q3 24 | 1.85× | -1.43× | ||
| Q2 24 | 2.51× | 0.89× |
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% |
CDRE
| U.s.state And Local Agencies | $72.7M | 43% |
| Other | $48.6M | 29% |
| U.s.Federal Agencies | $31.6M | 19% |
| Commercial | $12.0M | 7% |
