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Antero Midstream Corp（AM）与IONIS PHARMACEUTICALS INC（IONS）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IONIS PHARMACEUTICALS INC的1.4倍（$291.1M vs $203.3M），Antero Midstream Corp净利率更高（41.5% vs -112.8%，领先154.3%），Antero Midstream Corp同比增速更快（-7.3% vs -10.3%），过去两年IONIS PHARMACEUTICALS INC的营收复合增速更高（30.4% 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。
IONIS制药是1989年成立的生物科技企业，总部位于美国加利福尼亚州卡尔斯巴德，专注于反义疗法、RNA干扰及CRISPR疗法的研发，2015年12月前曾以Isis制药的名称运营。
AM vs IONS — 直观对比
营收规模更大
AM
是对方的1.4倍
$203.3M
营收增速更快
AM
高出2.9%
-10.3%
净利率更高
AM
高出154.3%
-112.8%
两年增速更快
IONS
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $203.3M |
| 净利润 | $120.7M | $-229.4M |
| 毛利率 | — | 96.1% |
| 营业利润率 | 60.9% | -105.5% |
| 净利率 | 41.5% | -112.8% |
| 营收同比 | -7.3% | -10.3% |
| 净利润同比 | 2.1% | -119.8% |
| 每股收益（稀释后） | $0.25 | $-1.35 |
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AMIONS
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $203.3M | ||
| Q3 25 | $294.8M | $156.7M | ||
| Q2 25 | $305.5M | $452.0M | ||
| Q1 25 | $291.1M | $131.6M | ||
| Q4 24 | $287.5M | $226.6M | ||
| Q3 24 | $269.9M | $133.8M | ||
| Q2 24 | $269.8M | $225.3M |
净利润AMIONS
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $-229.4M | ||
| Q3 25 | $116.0M | $-128.6M | ||
| Q2 25 | $124.5M | $123.6M | ||
| Q1 25 | $120.7M | $-146.9M | ||
| Q4 24 | $111.2M | $-104.3M | ||
| Q3 24 | $99.7M | $-140.5M | ||
| Q2 24 | $86.0M | $-66.3M |
毛利率AMIONS
| Q1 26 | — | — | ||
| Q4 25 | — | 96.1% | ||
| Q3 25 | — | 98.5% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 98.9% | ||
| Q4 24 | — | 98.3% | ||
| Q3 24 | — | 99.2% | ||
| Q2 24 | — | 98.2% |
营业利润率AMIONS
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | -105.5% | ||
| Q3 25 | 61.2% | -102.2% | ||
| Q2 25 | 61.0% | 30.9% | ||
| Q1 25 | 60.9% | -111.6% | ||
| Q4 24 | 61.8% | -48.9% | ||
| Q3 24 | 60.2% | -111.1% | ||
| Q2 24 | 56.6% | -29.3% |
净利率AMIONS
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | -112.8% | ||
| Q3 25 | 39.3% | -82.1% | ||
| Q2 25 | 40.8% | 27.3% | ||
| Q1 25 | 41.5% | -111.6% | ||
| Q4 24 | 38.7% | -46.1% | ||
| Q3 24 | 37.0% | -105.0% | ||
| Q2 24 | 31.9% | -29.4% |
每股收益（稀释后）AMIONS
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $-1.35 | ||
| Q3 25 | $0.24 | $-0.80 | ||
| Q2 25 | $0.26 | $0.70 | ||
| Q1 25 | $0.25 | $-0.93 | ||
| Q4 24 | $0.23 | $-0.66 | ||
| Q3 24 | $0.21 | $-0.95 | ||
| Q2 24 | $0.18 | $-0.45 |
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 | $2.7B |
| 总债务越低越好 | $3.2B | $1.8B |
| 股东权益账面价值 | $2.0B | $489.1M |
| 总资产 | $5.9B | $3.5B |
| 负债/权益比越低杠杆越低 | 1.63× | 3.71× |
8季度趋势，按日历期对齐
现金及短期投资AMIONS
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $2.7B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.3B | ||
| Q1 25 | — | $2.1B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.1B |
总债务AMIONS
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $1.8B | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | $1.3B | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — |
股东权益AMIONS
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $489.1M | ||
| Q3 25 | $2.1B | $618.0M | ||
| Q2 25 | $2.1B | $631.7M | ||
| Q1 25 | $2.1B | $475.7M | ||
| Q4 24 | $2.1B | $588.4M | ||
| Q3 24 | $2.1B | $662.5M | ||
| Q2 24 | $2.1B | $263.7M |
总资产AMIONS
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $3.5B | ||
| Q3 25 | $5.7B | $3.0B | ||
| Q2 25 | $5.7B | $3.0B | ||
| Q1 25 | $5.8B | $2.8B | ||
| Q4 24 | $5.8B | $3.0B | ||
| Q3 24 | $5.8B | $3.1B | ||
| Q2 24 | $5.8B | $2.7B |
负债/权益比AMIONS
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 3.71× | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | 1.47× | 2.13× | ||
| 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 | $-137.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-159.0M |
| 自由现金流率自由现金流/营收 | — | -78.2% |
| 资本支出强度资本支出/营收 | 11.1% | 10.5% |
| 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 | — | $-320.0M |
8季度趋势，按日历期对齐
经营现金流AMIONS
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $-137.7M | ||
| Q3 25 | $212.8M | $-131.4M | ||
| Q2 25 | $265.2M | $151.3M | ||
| Q1 25 | $198.9M | $-150.8M | ||
| Q4 24 | $232.7M | $-116.1M | ||
| Q3 24 | $184.9M | $-115.0M | ||
| Q2 24 | $215.8M | $-119.9M |
自由现金流AMIONS
| Q1 26 | — | — | ||
| Q4 25 | — | $-159.0M | ||
| Q3 25 | — | $-136.7M | ||
| Q2 25 | — | $139.0M | ||
| Q1 25 | — | $-163.4M | ||
| Q4 24 | — | $-141.6M | ||
| Q3 24 | $184.3M | $-124.0M | ||
| Q2 24 | $147.2M | $-126.1M |
自由现金流率AMIONS
| Q1 26 | — | — | ||
| Q4 25 | — | -78.2% | ||
| Q3 25 | — | -87.2% | ||
| Q2 25 | — | 30.8% | ||
| Q1 25 | — | -124.1% | ||
| Q4 24 | — | -62.5% | ||
| Q3 24 | 68.3% | -92.7% | ||
| Q2 24 | 54.6% | -56.0% |
资本支出强度AMIONS
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 10.5% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 2.7% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | 0.0% | 11.3% | ||
| Q3 24 | 0.2% | 6.8% | ||
| Q2 24 | 25.4% | 2.8% |
现金转化率AMIONS
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | — | ||
| Q2 25 | 2.13× | 1.22× | ||
| 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% |
IONS
| Products | $58.0M | 29% |
| Spinraza Royalties | $54.0M | 27% |
| Collaborative Agreement Revenue | $52.4M | 26% |
| Wainus Royalties | $16.0M | 8% |
| Wainua Joint Development Revenue | $9.6M | 5% |
| Other Commercial | $7.6M | 4% |
| Other Royalties | $5.7M | 3% |
