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Antero Midstream Corp（AM）与DT Midstream, Inc.（DTM）财务数据对比。点击上方公司名可切换其他公司
DT Midstream, Inc.的季度营收约是Antero Midstream Corp的1.1倍（$317.0M vs $297.0M）。DT Midstream, Inc.净利率更高（35.0% vs 17.5%，领先17.5%）。DT Midstream, Inc.同比增速更快（27.3% vs 3.3%）。过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs 3.2%）
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。
ONEOK是美国油气中游运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及存储服务，是财富500强企业及标普500指数成分股。公司1906年成立时名为俄克拉荷马天然气公司，1980年更为现名。
AM vs DTM — 直观对比
营收规模更大
DTM
是对方的1.1倍
$297.0M
营收增速更快
DTM
高出24.0%
3.3%
净利率更高
DTM
高出17.5%
17.5%
两年增速更快
DTM
近两年复合增速
3.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $297.0M | $317.0M |
| 净利润 | $51.9M | $111.0M |
| 毛利率 | — | — |
| 营业利润率 | 33.8% | 49.2% |
| 净利率 | 17.5% | 35.0% |
| 营收同比 | 3.3% | 27.3% |
| 净利润同比 | -53.3% | 52.1% |
| 每股收益（稀释后） | $0.11 | $1.07 |
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AMDTM
| Q4 25 | $297.0M | $317.0M | ||
| Q3 25 | $294.8M | $314.0M | ||
| Q2 25 | $305.5M | $309.0M | ||
| Q1 25 | $291.1M | $303.0M | ||
| Q4 24 | $287.5M | $249.0M | ||
| Q3 24 | $269.9M | $248.0M | ||
| Q2 24 | $269.8M | $244.0M | ||
| Q1 24 | $279.1M | $240.0M |
净利润AMDTM
| Q4 25 | $51.9M | $111.0M | ||
| Q3 25 | $116.0M | $115.0M | ||
| Q2 25 | $124.5M | $107.0M | ||
| Q1 25 | $120.7M | $108.0M | ||
| Q4 24 | $111.2M | $73.0M | ||
| Q3 24 | $99.7M | $88.0M | ||
| Q2 24 | $86.0M | $96.0M | ||
| Q1 24 | $103.9M | $97.0M |
营业利润率AMDTM
| Q4 25 | 33.8% | 49.2% | ||
| Q3 25 | 61.2% | 49.4% | ||
| Q2 25 | 61.0% | 50.2% | ||
| Q1 25 | 60.9% | 48.8% | ||
| Q4 24 | 61.8% | 45.4% | ||
| Q3 24 | 60.2% | 49.2% | ||
| Q2 24 | 56.6% | 53.3% | ||
| Q1 24 | 59.6% | 51.7% |
净利率AMDTM
| Q4 25 | 17.5% | 35.0% | ||
| Q3 25 | 39.3% | 36.6% | ||
| Q2 25 | 40.8% | 34.6% | ||
| Q1 25 | 41.5% | 35.6% | ||
| Q4 24 | 38.7% | 29.3% | ||
| Q3 24 | 37.0% | 35.5% | ||
| Q2 24 | 31.9% | 39.3% | ||
| Q1 24 | 37.2% | 40.4% |
每股收益（稀释后）AMDTM
| Q4 25 | $0.11 | $1.07 | ||
| Q3 25 | $0.24 | $1.13 | ||
| Q2 25 | $0.26 | $1.04 | ||
| Q1 25 | $0.25 | $1.06 | ||
| Q4 24 | $0.23 | $0.73 | ||
| Q3 24 | $0.21 | $0.90 | ||
| Q2 24 | $0.18 | $0.98 | ||
| Q1 24 | $0.21 | $0.99 |
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 | $54.0M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | $4.7B |
| 总资产 | $5.9B | $10.1B |
| 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AMDTM
| Q4 25 | $180.4M | $54.0M | ||
| Q3 25 | — | $98.0M | ||
| Q2 25 | — | $74.0M | ||
| Q1 25 | — | $83.0M | ||
| Q4 24 | — | $68.0M | ||
| Q3 24 | — | $77.0M | ||
| Q2 24 | — | $73.0M | ||
| Q1 24 | $26.1M | $41.0M |
总债务AMDTM
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | $3.4B | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — | ||
| Q1 24 | $3.2B | — |
股东权益AMDTM
| Q4 25 | $2.0B | $4.7B | ||
| Q3 25 | $2.1B | $4.7B | ||
| Q2 25 | $2.1B | $4.7B | ||
| Q1 25 | $2.1B | $4.6B | ||
| Q4 24 | $2.1B | $4.6B | ||
| Q3 24 | $2.1B | $4.2B | ||
| Q2 24 | $2.1B | $4.2B | ||
| Q1 24 | $2.2B | $4.2B |
总资产AMDTM
| Q4 25 | $5.9B | $10.1B | ||
| Q3 25 | $5.7B | $10.1B | ||
| Q2 25 | $5.7B | $10.0B | ||
| Q1 25 | $5.8B | $9.9B | ||
| Q4 24 | $5.8B | $9.9B | ||
| Q3 24 | $5.8B | $8.6B | ||
| Q2 24 | $5.8B | $9.0B | ||
| Q1 24 | $5.7B | $9.0B |
负债/权益比AMDTM
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | 1.47× | 0.72× | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.50× | — | ||
| Q1 24 | 1.48× | — |
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 | $161.0M |
| 自由现金流经营现金流 - 资本支出 | — | $30.0M |
| 自由现金流率自由现金流/营收 | — | 9.5% |
| 资本支出强度资本支出/营收 | — | 41.3% |
| 现金转化率经营现金流/净利润 | 4.92× | 1.45× |
| 过去12个月自由现金流最近4个季度 | — | $441.0M |
8季度趋势，按日历期对齐
经营现金流AMDTM
| Q4 25 | $255.5M | $161.0M | ||
| Q3 25 | $212.8M | $274.0M | ||
| Q2 25 | $265.2M | $185.0M | ||
| Q1 25 | $198.9M | $247.0M | ||
| Q4 24 | $232.7M | $152.0M | ||
| Q3 24 | $184.9M | $205.0M | ||
| Q2 24 | $215.8M | $165.0M | ||
| Q1 24 | $210.6M | $241.0M |
自由现金流AMDTM
| Q4 25 | — | $30.0M | ||
| Q3 25 | — | $131.0M | ||
| Q2 25 | — | $104.0M | ||
| Q1 25 | — | $176.0M | ||
| Q4 24 | — | $62.0M | ||
| Q3 24 | $184.3M | $124.0M | ||
| Q2 24 | $147.2M | $84.0M | ||
| Q1 24 | $208.5M | $143.0M |
自由现金流率AMDTM
| Q4 25 | — | 9.5% | ||
| Q3 25 | — | 41.7% | ||
| Q2 25 | — | 33.7% | ||
| Q1 25 | — | 58.1% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | 68.3% | 50.0% | ||
| Q2 24 | 54.6% | 34.4% | ||
| Q1 24 | 74.7% | 59.6% |
资本支出强度AMDTM
| Q4 25 | — | 41.3% | ||
| Q3 25 | — | 45.5% | ||
| Q2 25 | — | 26.2% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | 0.0% | 36.1% | ||
| Q3 24 | 0.2% | 32.7% | ||
| Q2 24 | 25.4% | 33.2% | ||
| Q1 24 | 0.7% | 40.8% |
现金转化率AMDTM
| Q4 25 | 4.92× | 1.45× | ||
| Q3 25 | 1.84× | 2.38× | ||
| Q2 25 | 2.13× | 1.73× | ||
| Q1 25 | 1.65× | 2.29× | ||
| Q4 24 | 2.09× | 2.08× | ||
| Q3 24 | 1.85× | 2.33× | ||
| Q2 24 | 2.51× | 1.72× | ||
| Q1 24 | 2.03× | 2.48× |
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% |
DTM
| Pipeline Segment | $173.0M | 55% |
| Gathering Segment | $144.0M | 45% |
