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Antero Midstream Corp（AM）与DigitalOcean Holdings, Inc.（DOCN）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DigitalOcean Holdings, Inc.的1.2倍（$291.1M vs $242.4M），Antero Midstream Corp净利率更高（41.5% vs 10.6%，领先30.9%），DigitalOcean Holdings, Inc.同比增速更快（18.3% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $31.1M），过去两年DigitalOcean Holdings, Inc.的营收复合增速更高（14.5% 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。
DigitalOcean Holdings, Inc.是美国跨国科技企业及云服务提供商，总部位于美国科罗拉多州布鲁姆菲尔德，在全球布局15个数据中心，面向开发者、初创企业及中小微企业提供稳定易用的云基础设施即服务平台，助力各类技术团队高效开展业务。
AM vs DOCN — 直观对比
营收规模更大
AM
是对方的1.2倍
$242.4M
营收增速更快
DOCN
高出25.6%
-7.3%
净利率更高
AM
高出30.9%
10.6%
自由现金流更多
AM
多$155.8M
$31.1M
两年增速更快
DOCN
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $242.4M |
| 净利润 | $120.7M | $25.7M |
| 毛利率 | — | 58.7% |
| 营业利润率 | 60.9% | 16.0% |
| 净利率 | 41.5% | 10.6% |
| 营收同比 | -7.3% | 18.3% |
| 净利润同比 | 2.1% | 40.5% |
| 每股收益（稀释后） | $0.25 | $0.23 |
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AMDOCN
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $242.4M | ||
| Q3 25 | $294.8M | $229.6M | ||
| Q2 25 | $305.5M | $218.7M | ||
| Q1 25 | $291.1M | $210.7M | ||
| Q4 24 | $287.5M | $204.9M | ||
| Q3 24 | $269.9M | $198.5M | ||
| Q2 24 | $269.8M | $192.5M |
净利润AMDOCN
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $25.7M | ||
| Q3 25 | $116.0M | $158.4M | ||
| Q2 25 | $124.5M | $37.0M | ||
| Q1 25 | $120.7M | $38.2M | ||
| Q4 24 | $111.2M | $18.3M | ||
| Q3 24 | $99.7M | $32.9M | ||
| Q2 24 | $86.0M | $19.1M |
毛利率AMDOCN
| Q1 26 | — | — | ||
| Q4 25 | — | 58.7% | ||
| Q3 25 | — | 59.6% | ||
| Q2 25 | — | 59.9% | ||
| Q1 25 | — | 61.4% | ||
| Q4 24 | — | 57.1% | ||
| Q3 24 | — | 60.2% | ||
| Q2 24 | — | 61.0% |
营业利润率AMDOCN
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 16.0% | ||
| Q3 25 | 61.2% | 19.6% | ||
| Q2 25 | 61.0% | 16.3% | ||
| Q1 25 | 60.9% | 17.9% | ||
| Q4 24 | 61.8% | 15.9% | ||
| Q3 24 | 60.2% | 12.4% | ||
| Q2 24 | 56.6% | 11.6% |
净利率AMDOCN
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 10.6% | ||
| Q3 25 | 39.3% | 69.0% | ||
| Q2 25 | 40.8% | 16.9% | ||
| Q1 25 | 41.5% | 18.1% | ||
| Q4 24 | 38.7% | 8.9% | ||
| Q3 24 | 37.0% | 16.6% | ||
| Q2 24 | 31.9% | 9.9% |
每股收益（稀释后）AMDOCN
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $0.23 | ||
| Q3 25 | $0.24 | $1.51 | ||
| Q2 25 | $0.26 | $0.39 | ||
| Q1 25 | $0.25 | $0.39 | ||
| Q4 24 | $0.23 | $0.21 | ||
| Q3 24 | $0.21 | $0.33 | ||
| Q2 24 | $0.18 | $0.20 |
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 | $254.5M |
| 总债务越低越好 | $3.2B | $1.3B |
| 股东权益账面价值 | $2.0B | $-28.7M |
| 总资产 | $5.9B | $1.8B |
| 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AMDOCN
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $254.5M | ||
| Q3 25 | — | $236.6M | ||
| Q2 25 | — | $387.7M | ||
| Q1 25 | — | $360.4M | ||
| Q4 24 | — | $428.4M | ||
| Q3 24 | — | $439.9M | ||
| Q2 24 | — | $443.1M |
总债务AMDOCN
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $1.3B | ||
| Q3 25 | $3.0B | $1.3B | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | $1.5B | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — |
股东权益AMDOCN
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $-28.7M | ||
| Q3 25 | $2.1B | $-69.6M | ||
| Q2 25 | $2.1B | $-175.2M | ||
| Q1 25 | $2.1B | $-210.7M | ||
| Q4 24 | $2.1B | $-203.0M | ||
| Q3 24 | $2.1B | $-211.7M | ||
| Q2 24 | $2.1B | $-253.8M |
总资产AMDOCN
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $1.8B | ||
| Q3 25 | $5.7B | $1.7B | ||
| Q2 25 | $5.7B | $1.7B | ||
| Q1 25 | $5.8B | $1.6B | ||
| Q4 24 | $5.8B | $1.6B | ||
| Q3 24 | $5.8B | $1.5B | ||
| Q2 24 | $5.8B | $1.5B |
负债/权益比AMDOCN
| 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 | $57.3M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $31.1M |
| 自由现金流率自由现金流/营收 | 64.2% | 12.8% |
| 资本支出强度资本支出/营收 | 11.1% | 10.8% |
| 现金转化率经营现金流/净利润 | 1.65× | 2.23× |
| 过去12个月自由现金流最近4个季度 | — | $180.5M |
8季度趋势，按日历期对齐
经营现金流AMDOCN
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $57.3M | ||
| Q3 25 | $212.8M | $95.8M | ||
| Q2 25 | $265.2M | $92.4M | ||
| Q1 25 | $198.9M | $64.1M | ||
| Q4 24 | $232.7M | $71.3M | ||
| Q3 24 | $184.9M | $73.4M | ||
| Q2 24 | $215.8M | $71.3M |
自由现金流AMDOCN
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | $31.1M | ||
| Q3 25 | — | $88.0M | ||
| Q2 25 | — | $59.3M | ||
| Q1 25 | — | $2.1M | ||
| Q4 24 | — | $26.1M | ||
| Q3 24 | $184.3M | $16.0M | ||
| Q2 24 | $147.2M | $39.5M |
自由现金流率AMDOCN
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | 12.8% | ||
| Q3 25 | — | 38.3% | ||
| Q2 25 | — | 27.1% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 12.7% | ||
| Q3 24 | 68.3% | 8.1% | ||
| Q2 24 | 54.6% | 20.5% |
资本支出强度AMDOCN
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 10.8% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 15.2% | ||
| Q1 25 | — | 29.4% | ||
| Q4 24 | 0.0% | 22.1% | ||
| Q3 24 | 0.2% | 28.9% | ||
| Q2 24 | 25.4% | 16.6% |
现金转化率AMDOCN
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | 2.23× | ||
| Q3 25 | 1.84× | 0.60× | ||
| Q2 25 | 2.13× | 2.50× | ||
| Q1 25 | 1.65× | 1.68× | ||
| Q4 24 | 2.09× | 3.91× | ||
| Q3 24 | 1.85× | 2.23× | ||
| Q2 24 | 2.51× | 3.73× |
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% |
DOCN
| Scalers | $84.3M | 35% |
| Scalers Plus | $69.9M | 29% |
| Builders | $64.1M | 26% |
| Learners Testers And Other | $24.1M | 10% |
