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Antero Midstream Corp（AM）与和黄医药（HCM）财务数据对比。点击上方公司名可切换其他公司
Antero Midstream Corp的季度营收约是和黄医药的1.1倍（$291.1M vs $270.8M），Antero Midstream Corp净利率更高（41.5% vs 0.7%，领先40.8%），Antero Midstream Corp同比增速更快（-7.3% vs -16.5%）
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。
和黄医药是一家国际化生物制药企业，专注于肿瘤、免疫类疾病的靶向疗法与免疫疗法的研发、生产及商业化，核心市场覆盖中国及全球多个国家地区，已有多款肿瘤治疗药物上市，后期临床管线储备丰富。
AM vs HCM — 直观对比
营收规模更大
AM
是对方的1.1倍
$270.8M
营收增速更快
AM
高出9.2%
-16.5%
净利率更高
AM
高出40.8%
0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $270.8M |
| 净利润 | $120.7M | $2.0M |
| 毛利率 | — | 37.7% |
| 营业利润率 | 60.9% | -13.2% |
| 净利率 | 41.5% | 0.7% |
| 营收同比 | -7.3% | -16.5% |
| 净利润同比 | 2.1% | -83.6% |
| 每股收益（稀释后） | $0.25 | $0.00 |
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AMHCM
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $270.8M | ||
| Q3 25 | $294.8M | — | ||
| Q2 25 | $305.5M | $277.7M | ||
| Q1 25 | $291.1M | $324.5M | ||
| Q4 24 | $287.5M | — | ||
| Q3 24 | $269.9M | — | ||
| Q2 24 | $269.8M | $305.7M |
净利润AMHCM
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $2.0M | ||
| Q3 25 | $116.0M | — | ||
| Q2 25 | $124.5M | $455.0M | ||
| Q1 25 | $120.7M | $11.9M | ||
| Q4 24 | $111.2M | — | ||
| Q3 24 | $99.7M | — | ||
| Q2 24 | $86.0M | $25.8M |
毛利率AMHCM
| Q1 26 | — | — | ||
| Q4 25 | — | 37.7% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 48.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 41.1% |
营业利润率AMHCM
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | -13.2% | ||
| Q3 25 | 61.2% | — | ||
| Q2 25 | 61.0% | -1.3% | ||
| Q1 25 | 60.9% | -5.0% | ||
| Q4 24 | 61.8% | — | ||
| Q3 24 | 60.2% | — | ||
| Q2 24 | 56.6% | -9.0% |
净利率AMHCM
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 0.7% | ||
| Q3 25 | 39.3% | — | ||
| Q2 25 | 40.8% | 163.8% | ||
| Q1 25 | 41.5% | 3.7% | ||
| Q4 24 | 38.7% | — | ||
| Q3 24 | 37.0% | — | ||
| Q2 24 | 31.9% | 8.4% |
每股收益（稀释后）AMHCM
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $0.00 | ||
| Q3 25 | $0.24 | — | ||
| Q2 25 | $0.26 | $0.52 | ||
| Q1 25 | $0.25 | $0.01 | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $0.21 | — | ||
| Q2 24 | $0.18 | $0.03 |
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 | $93.2M |
| 股东权益账面价值 | $2.0B | $1.2B |
| 总资产 | $5.9B | $1.8B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.08× |
8季度趋势，按日历期对齐
现金及短期投资AMHCM
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $1.4B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $836.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $802.5M |
总债务AMHCM
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $93.2M | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | $93.4M | ||
| Q1 25 | $3.1B | $82.8M | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | $82.1M |
股东权益AMHCM
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $2.1B | — | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $759.9M | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.1B | $740.1M |
总资产AMHCM
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $1.8B | ||
| Q3 25 | $5.7B | — | ||
| Q2 25 | $5.7B | $1.8B | ||
| Q1 25 | $5.8B | $1.3B | ||
| Q4 24 | $5.8B | — | ||
| Q3 24 | $5.8B | — | ||
| Q2 24 | $5.8B | $1.3B |
负债/权益比AMHCM
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.08× | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.45× | 0.08× | ||
| Q1 25 | 1.49× | 0.11× | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.50× | 0.11× |
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 | $8.2M |
| 自由现金流经营现金流 - 资本支出 | — | $3.4M |
| 自由现金流率自由现金流/营收 | — | 1.2% |
| 资本支出强度资本支出/营收 | 11.1% | 1.8% |
| 现金转化率经营现金流/净利润 | 1.65× | 4.21× |
| 过去12个月自由现金流最近4个季度 | — | $-96.2M |
8季度趋势，按日历期对齐
经营现金流AMHCM
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $8.2M | ||
| Q3 25 | $212.8M | — | ||
| Q2 25 | $265.2M | $-72.9M | ||
| Q1 25 | $198.9M | $40.3M | ||
| Q4 24 | $232.7M | — | ||
| Q3 24 | $184.9M | — | ||
| Q2 24 | $215.8M | $-39.8M |
自由现金流AMHCM
| Q1 26 | — | — | ||
| Q4 25 | — | $3.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-82.2M | ||
| Q1 25 | — | $32.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | $184.3M | — | ||
| Q2 24 | $147.2M | $-49.9M |
自由现金流率AMHCM
| Q1 26 | — | — | ||
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -29.6% | ||
| Q1 25 | — | 10.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | 68.3% | — | ||
| Q2 24 | 54.6% | -16.3% |
资本支出强度AMHCM
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 25.4% | 3.3% |
现金转化率AMHCM
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | 4.21× | ||
| Q3 25 | 1.84× | — | ||
| Q2 25 | 2.13× | -0.16× | ||
| Q1 25 | 1.65× | 3.38× | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 2.51× | -1.54× |
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% |
HCM
暂无分部数据
