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Antero Midstream Corp（AM）与Forestar Group Inc.（FOR）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Forestar Group Inc.的1.1倍（$291.1M vs $273.0M），Antero Midstream Corp净利率更高（41.5% vs 5.6%，领先35.8%），Forestar Group Inc.同比增速更快（9.0% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $-157.1M），过去两年Antero Midstream Corp的营收复合增速更高（3.9% vs -9.6%）
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。
福雷斯特集团是一家住宅地块开发企业，总部位于得克萨斯州阿灵顿，业务覆盖美国21个州的51个市场。截至2020年12月31日的12个月内，该公司交付了11518块住宅地块，目前在纽约证券交易所上市，自2002年起就是美国规模最大的住宅建筑商D.R. Horton的控股子公司。
AM vs FOR — 直观对比
营收规模更大
AM
是对方的1.1倍
$273.0M
营收增速更快
FOR
高出16.4%
-7.3%
净利率更高
AM
高出35.8%
5.6%
自由现金流更多
AM
多$344.0M
$-157.1M
两年增速更快
AM
近两年复合增速
-9.6%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $273.0M |
| 净利润 | $120.7M | $15.4M |
| 毛利率 | — | 20.1% |
| 营业利润率 | 60.9% | 7.6% |
| 净利率 | 41.5% | 5.6% |
| 营收同比 | -7.3% | 9.0% |
| 净利润同比 | 2.1% | -6.7% |
| 每股收益（稀释后） | $0.25 | $0.30 |
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AMFOR
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $273.0M | ||
| Q3 25 | $294.8M | $670.5M | ||
| Q2 25 | $305.5M | $390.5M | ||
| Q1 25 | $291.1M | $351.0M | ||
| Q4 24 | $287.5M | $250.4M | ||
| Q3 24 | $269.9M | $551.3M | ||
| Q2 24 | $269.8M | $318.4M |
净利润AMFOR
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $15.4M | ||
| Q3 25 | $116.0M | $86.9M | ||
| Q2 25 | $124.5M | $32.9M | ||
| Q1 25 | $120.7M | $31.6M | ||
| Q4 24 | $111.2M | $16.5M | ||
| Q3 24 | $99.7M | $81.5M | ||
| Q2 24 | $86.0M | $38.7M |
毛利率AMFOR
| Q1 26 | — | — | ||
| Q4 25 | — | 20.1% | ||
| Q3 25 | — | 22.3% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 22.6% | ||
| Q4 24 | — | 22.0% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 22.5% |
营业利润率AMFOR
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 7.6% | ||
| Q3 25 | 61.2% | 16.9% | ||
| Q2 25 | 61.0% | 11.2% | ||
| Q1 25 | 60.9% | 11.6% | ||
| Q4 24 | 61.8% | 8.7% | ||
| Q3 24 | 60.2% | 19.7% | ||
| Q2 24 | 56.6% | 16.2% |
净利率AMFOR
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 5.6% | ||
| Q3 25 | 39.3% | 13.0% | ||
| Q2 25 | 40.8% | 8.4% | ||
| Q1 25 | 41.5% | 9.0% | ||
| Q4 24 | 38.7% | 6.6% | ||
| Q3 24 | 37.0% | 14.8% | ||
| Q2 24 | 31.9% | 12.2% |
每股收益（稀释后）AMFOR
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $0.30 | ||
| Q3 25 | $0.24 | $1.70 | ||
| Q2 25 | $0.26 | $0.65 | ||
| Q1 25 | $0.25 | $0.62 | ||
| Q4 24 | $0.23 | $0.32 | ||
| Q3 24 | $0.21 | $1.59 | ||
| Q2 24 | $0.18 | $0.76 |
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 | $211.7M |
| 总债务越低越好 | $3.2B | $793.2M |
| 股东权益账面价值 | $2.0B | $1.8B |
| 总资产 | $5.9B | $3.2B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.44× |
8季度趋势，按日历期对齐
现金及短期投资AMFOR
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $211.7M | ||
| Q3 25 | — | $379.2M | ||
| Q2 25 | — | $189.2M | ||
| Q1 25 | — | $174.3M | ||
| Q4 24 | — | $132.0M | ||
| Q3 24 | — | $481.2M | ||
| Q2 24 | — | $359.2M |
总债务AMFOR
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $793.2M | ||
| Q3 25 | $3.0B | $802.7M | ||
| Q2 25 | $3.0B | $872.8M | ||
| Q1 25 | $3.1B | $872.5M | ||
| Q4 24 | $3.1B | $806.8M | ||
| Q3 24 | $3.2B | $706.4M | ||
| Q2 24 | $3.2B | $706.1M |
股东权益AMFOR
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $1.8B | ||
| Q3 25 | $2.1B | $1.8B | ||
| Q2 25 | $2.1B | $1.7B | ||
| Q1 25 | $2.1B | $1.6B | ||
| Q4 24 | $2.1B | $1.6B | ||
| Q3 24 | $2.1B | $1.6B | ||
| Q2 24 | $2.1B | $1.5B |
总资产AMFOR
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $3.2B | ||
| Q3 25 | $5.7B | $3.1B | ||
| Q2 25 | $5.7B | $3.1B | ||
| Q1 25 | $5.8B | $3.0B | ||
| Q4 24 | $5.8B | $3.0B | ||
| Q3 24 | $5.8B | $2.8B | ||
| Q2 24 | $5.8B | $2.7B |
负债/权益比AMFOR
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.44× | ||
| Q3 25 | 1.46× | 0.45× | ||
| Q2 25 | 1.45× | 0.52× | ||
| Q1 25 | 1.49× | 0.53× | ||
| Q4 24 | 1.47× | 0.50× | ||
| Q3 24 | 1.49× | 0.44× | ||
| Q2 24 | 1.50× | 0.47× |
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 | $-157.0M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $-157.1M |
| 自由现金流率自由现金流/营收 | 64.2% | -57.5% |
| 资本支出强度资本支出/营收 | 11.1% | 0.0% |
| 现金转化率经营现金流/净利润 | 1.65× | -10.19× |
| 过去12个月自由现金流最近4个季度 | — | $93.0M |
8季度趋势，按日历期对齐
经营现金流AMFOR
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $-157.0M | ||
| Q3 25 | $212.8M | $256.3M | ||
| Q2 25 | $265.2M | $15.8M | ||
| Q1 25 | $198.9M | $-19.8M | ||
| Q4 24 | $232.7M | $-450.0M | ||
| Q3 24 | $184.9M | $119.2M | ||
| Q2 24 | $215.8M | $-61.7M |
自由现金流AMFOR
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | $-157.1M | ||
| Q3 25 | — | $255.6M | ||
| Q2 25 | — | $15.0M | ||
| Q1 25 | — | $-20.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | $184.3M | $118.4M | ||
| Q2 24 | $147.2M | $-62.3M |
自由现金流率AMFOR
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | -57.5% | ||
| Q3 25 | — | 38.1% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | -5.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 68.3% | 21.5% | ||
| Q2 24 | 54.6% | -19.6% |
资本支出强度AMFOR
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.0% | 0.0% | ||
| Q3 24 | 0.2% | 0.1% | ||
| Q2 24 | 25.4% | 0.2% |
现金转化率AMFOR
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | -10.19× | ||
| Q3 25 | 1.84× | 2.95× | ||
| Q2 25 | 2.13× | 0.48× | ||
| Q1 25 | 1.65× | -0.63× | ||
| Q4 24 | 2.09× | -27.27× | ||
| Q3 24 | 1.85× | 1.46× | ||
| Q2 24 | 2.51× | -1.59× |
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% |
FOR
| D.R.Horton Inc. | $183.8M | 67% |
| Other | $89.2M | 33% |
