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Antero Midstream Corp（AM）与Elastic N.V.（ESTC）财务数据对比。点击上方公司名可切换其他公司
Elastic N.V.的季度营收约是Antero Midstream Corp的1.5倍（$423.5M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs -12.1%，领先53.6%），Elastic N.V.同比增速更快（15.9% vs -7.3%），过去两年Elastic N.V.的营收复合增速更高（13.6% 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。
Elastic是荷美合资软件企业，2012年成立于荷兰阿姆斯特丹，运营总部分设于荷兰及美国加利福尼亚州旧金山市，于纽交所上市。公司提供企业级搜索、可观测性、网络安全平台，可支持用户实现大规模数据搜索分析、系统性能监测及异常检测。
AM vs ESTC — 直观对比
营收规模更大
ESTC
是对方的1.5倍
$291.1M
营收增速更快
ESTC
高出23.3%
-7.3%
净利率更高
AM
高出53.6%
-12.1%
两年增速更快
ESTC
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $423.5M |
| 净利润 | $120.7M | $-51.3M |
| 毛利率 | — | 75.9% |
| 营业利润率 | 60.9% | -1.9% |
| 净利率 | 41.5% | -12.1% |
| 营收同比 | -7.3% | 15.9% |
| 净利润同比 | 2.1% | -101.5% |
| 每股收益（稀释后） | $0.25 | $-0.48 |
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AMESTC
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $423.5M | ||
| Q3 25 | $294.8M | $415.3M | ||
| Q2 25 | $305.5M | $388.4M | ||
| Q1 25 | $291.1M | $382.1M | ||
| Q4 24 | $287.5M | $365.4M | ||
| Q3 24 | $269.9M | $347.4M | ||
| Q2 24 | $269.8M | $335.0M |
净利润AMESTC
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $-51.3M | ||
| Q3 25 | $116.0M | $-24.6M | ||
| Q2 25 | $124.5M | $-16.4M | ||
| Q1 25 | $120.7M | $-17.1M | ||
| Q4 24 | $111.2M | $-25.4M | ||
| Q3 24 | $99.7M | $-49.2M | ||
| Q2 24 | $86.0M | $-41.1M |
毛利率AMESTC
| Q1 26 | — | — | ||
| Q4 25 | — | 75.9% | ||
| Q3 25 | — | 76.7% | ||
| Q2 25 | — | 74.8% | ||
| Q1 25 | — | 74.6% | ||
| Q4 24 | — | 74.5% | ||
| Q3 24 | — | 73.6% | ||
| Q2 24 | — | 73.8% |
营业利润率AMESTC
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | -1.9% | ||
| Q3 25 | 61.2% | -2.3% | ||
| Q2 25 | 61.0% | -3.1% | ||
| Q1 25 | 60.9% | -1.2% | ||
| Q4 24 | 61.8% | -1.2% | ||
| Q3 24 | 60.2% | -9.7% | ||
| Q2 24 | 56.6% | -13.6% |
净利率AMESTC
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | -12.1% | ||
| Q3 25 | 39.3% | -5.9% | ||
| Q2 25 | 40.8% | -4.2% | ||
| Q1 25 | 41.5% | -4.5% | ||
| Q4 24 | 38.7% | -7.0% | ||
| Q3 24 | 37.0% | -14.2% | ||
| Q2 24 | 31.9% | -12.3% |
每股收益（稀释后）AMESTC
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $-0.48 | ||
| Q3 25 | $0.24 | $-0.23 | ||
| Q2 25 | $0.26 | $-0.15 | ||
| Q1 25 | $0.25 | $-0.16 | ||
| Q4 24 | $0.23 | $-0.25 | ||
| Q3 24 | $0.21 | $-0.48 | ||
| Q2 24 | $0.18 | $-0.35 |
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 | $1.4B |
| 总债务越低越好 | $3.2B | $570.3M |
| 股东权益账面价值 | $2.0B | $891.1M |
| 总资产 | $5.9B | $2.5B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资AMESTC
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $1.4B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $584.0M | ||
| Q4 24 | — | $658.5M | ||
| Q3 24 | — | $594.9M | ||
| Q2 24 | — | $1.1B |
总债务AMESTC
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $570.3M | ||
| Q3 25 | $3.0B | $570.0M | ||
| Q2 25 | $3.0B | $569.7M | ||
| Q1 25 | $3.1B | $569.4M | ||
| Q4 24 | $3.1B | $569.2M | ||
| Q3 24 | $3.2B | $568.9M | ||
| Q2 24 | $3.2B | $568.6M |
股东权益AMESTC
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $891.1M | ||
| Q3 25 | $2.1B | $971.4M | ||
| Q2 25 | $2.1B | $927.2M | ||
| Q1 25 | $2.1B | $859.1M | ||
| Q4 24 | $2.1B | $811.5M | ||
| Q3 24 | $2.1B | $759.4M | ||
| Q2 24 | $2.1B | $738.2M |
总资产AMESTC
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $2.5B | ||
| Q3 25 | $5.7B | $2.5B | ||
| Q2 25 | $5.7B | $2.6B | ||
| Q1 25 | $5.8B | $2.3B | ||
| Q4 24 | $5.8B | $2.2B | ||
| Q3 24 | $5.8B | $2.2B | ||
| Q2 24 | $5.8B | $2.2B |
负债/权益比AMESTC
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.64× | ||
| Q3 25 | 1.46× | 0.59× | ||
| Q2 25 | 1.45× | 0.61× | ||
| Q1 25 | 1.49× | 0.66× | ||
| Q4 24 | 1.47× | 0.70× | ||
| Q3 24 | 1.49× | 0.75× | ||
| Q2 24 | 1.50× | 0.77× |
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 | $26.6M |
| 自由现金流经营现金流 - 资本支出 | — | $26.0M |
| 自由现金流率自由现金流/营收 | — | 6.1% |
| 资本支出强度资本支出/营收 | 11.1% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | — | $302.3M |
8季度趋势，按日历期对齐
经营现金流AMESTC
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $26.6M | ||
| Q3 25 | $212.8M | $104.8M | ||
| Q2 25 | $265.2M | $87.0M | ||
| Q1 25 | $198.9M | $88.1M | ||
| Q4 24 | $232.7M | $38.4M | ||
| Q3 24 | $184.9M | $52.8M | ||
| Q2 24 | $215.8M | $60.9M |
自由现金流AMESTC
| Q1 26 | — | — | ||
| Q4 25 | — | $26.0M | ||
| Q3 25 | — | $104.2M | ||
| Q2 25 | — | $84.9M | ||
| Q1 25 | — | $87.3M | ||
| Q4 24 | — | $37.7M | ||
| Q3 24 | $184.3M | $52.0M | ||
| Q2 24 | $147.2M | $60.1M |
自由现金流率AMESTC
| Q1 26 | — | — | ||
| Q4 25 | — | 6.1% | ||
| Q3 25 | — | 25.1% | ||
| Q2 25 | — | 21.8% | ||
| Q1 25 | — | 22.8% | ||
| Q4 24 | — | 10.3% | ||
| Q3 24 | 68.3% | 15.0% | ||
| Q2 24 | 54.6% | 17.9% |
资本支出强度AMESTC
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.0% | 0.2% | ||
| Q3 24 | 0.2% | 0.2% | ||
| Q2 24 | 25.4% | 0.3% |
现金转化率AMESTC
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | — | ||
| Q2 25 | 2.13× | — | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 2.51× | — |
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% |
ESTC
| Self Managed Subscription | $192.0M | 45% |
| Saa S Self Managed Annual | $156.9M | 37% |
| Saa S Self Managed Monthly | $48.8M | 12% |
| Professional Services | $25.8M | 6% |
