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Antero Midstream Corp（AM）与KADANT INC（KAI）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KADANT INC的1.1倍（$291.1M vs $271.6M），Antero Midstream Corp净利率更高（41.5% vs 10.2%，领先31.3%），KADANT INC同比增速更快（-0.0% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $44.1M），过去两年KADANT INC的营收复合增速更高（6.7% 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。
Kadant Inc.创立于1991年，最初是Thermo Electron的子公司，部分股权私有、部分公开交易，2001年完成完全分拆并启用现名。公司服务于造纸、废纸回收、木材加工、物料搬运等多个加工领域，是业务覆盖亚洲、欧洲、北美、南美的跨国企业。
AM vs KAI — 直观对比
营收规模更大
AM
是对方的1.1倍
$271.6M
营收增速更快
KAI
高出7.3%
-7.3%
净利率更高
AM
高出31.3%
10.2%
自由现金流更多
AM
多$142.8M
$44.1M
两年增速更快
KAI
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $271.6M |
| 净利润 | $120.7M | $27.7M |
| 毛利率 | — | 45.2% |
| 营业利润率 | 60.9% | 15.7% |
| 净利率 | 41.5% | 10.2% |
| 营收同比 | -7.3% | -0.0% |
| 净利润同比 | 2.1% | -12.2% |
| 每股收益（稀释后） | $0.25 | $2.35 |
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AMKAI
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | — | ||
| Q3 25 | $294.8M | $271.6M | ||
| Q2 25 | $305.5M | $255.3M | ||
| Q1 25 | $291.1M | $239.2M | ||
| Q4 24 | $287.5M | $258.0M | ||
| Q3 24 | $269.9M | $271.6M | ||
| Q2 24 | $269.8M | $274.8M |
净利润AMKAI
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | — | ||
| Q3 25 | $116.0M | $27.7M | ||
| Q2 25 | $124.5M | $26.2M | ||
| Q1 25 | $120.7M | $24.1M | ||
| Q4 24 | $111.2M | $24.0M | ||
| Q3 24 | $99.7M | $31.6M | ||
| Q2 24 | $86.0M | $31.3M |
毛利率AMKAI
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 45.2% | ||
| Q2 25 | — | 45.9% | ||
| Q1 25 | — | 46.1% | ||
| Q4 24 | — | 43.4% | ||
| Q3 24 | — | 44.7% | ||
| Q2 24 | — | 44.4% |
营业利润率AMKAI
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | — | ||
| Q3 25 | 61.2% | 15.7% | ||
| Q2 25 | 61.0% | 15.4% | ||
| Q1 25 | 60.9% | 14.9% | ||
| Q4 24 | 61.8% | 14.3% | ||
| Q3 24 | 60.2% | 18.0% | ||
| Q2 24 | 56.6% | 17.6% |
净利率AMKAI
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | — | ||
| Q3 25 | 39.3% | 10.2% | ||
| Q2 25 | 40.8% | 10.2% | ||
| Q1 25 | 41.5% | 10.1% | ||
| Q4 24 | 38.7% | 9.3% | ||
| Q3 24 | 37.0% | 11.6% | ||
| Q2 24 | 31.9% | 11.4% |
每股收益（稀释后）AMKAI
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.24 | $2.35 | ||
| Q2 25 | $0.26 | $2.22 | ||
| Q1 25 | $0.25 | $2.04 | ||
| Q4 24 | $0.23 | $2.04 | ||
| Q3 24 | $0.21 | $2.68 | ||
| Q2 24 | $0.18 | $2.66 |
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 | $124.5M |
| 总债务越低越好 | $3.2B | $254.6M |
| 股东权益账面价值 | $2.0B | $949.8M |
| 总资产 | $5.9B | $1.5B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资AMKAI
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | — | ||
| Q3 25 | — | $124.5M | ||
| Q2 25 | — | $95.3M | ||
| Q1 25 | — | $91.7M | ||
| Q4 24 | — | $94.7M | ||
| Q3 24 | — | $88.4M | ||
| Q2 24 | — | $73.8M |
总债务AMKAI
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | $254.6M | ||
| Q2 25 | $3.0B | $245.7M | ||
| Q1 25 | $3.1B | $273.5M | ||
| Q4 24 | $3.1B | $285.2M | ||
| Q3 24 | $3.2B | $323.2M | ||
| Q2 24 | $3.2B | $342.0M |
股东权益AMKAI
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.1B | $949.8M | ||
| Q2 25 | $2.1B | $926.0M | ||
| Q1 25 | $2.1B | $876.0M | ||
| Q4 24 | $2.1B | $847.1M | ||
| Q3 24 | $2.1B | $851.7M | ||
| Q2 24 | $2.1B | $807.7M |
总资产AMKAI
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | — | ||
| Q3 25 | $5.7B | $1.5B | ||
| Q2 25 | $5.7B | $1.5B | ||
| Q1 25 | $5.8B | $1.4B | ||
| Q4 24 | $5.8B | $1.4B | ||
| Q3 24 | $5.8B | $1.5B | ||
| Q2 24 | $5.8B | $1.5B |
负债/权益比AMKAI
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | 0.27× | ||
| Q2 25 | 1.45× | 0.27× | ||
| Q1 25 | 1.49× | 0.31× | ||
| Q4 24 | 1.47× | 0.34× | ||
| Q3 24 | 1.49× | 0.38× | ||
| Q2 24 | 1.50× | 0.42× |
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 | $47.3M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $44.1M |
| 自由现金流率自由现金流/营收 | 64.2% | 16.2% |
| 资本支出强度资本支出/营收 | 11.1% | 1.2% |
| 现金转化率经营现金流/净利润 | 1.65× | 1.70× |
| 过去12个月自由现金流最近4个季度 | — | $145.9M |
8季度趋势，按日历期对齐
经营现金流AMKAI
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | — | ||
| Q3 25 | $212.8M | $47.3M | ||
| Q2 25 | $265.2M | $40.5M | ||
| Q1 25 | $198.9M | $22.8M | ||
| Q4 24 | $232.7M | $51.9M | ||
| Q3 24 | $184.9M | $52.5M | ||
| Q2 24 | $215.8M | $28.1M |
自由现金流AMKAI
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $44.1M | ||
| Q2 25 | — | $36.5M | ||
| Q1 25 | — | $19.0M | ||
| Q4 24 | — | $46.3M | ||
| Q3 24 | $184.3M | $48.3M | ||
| Q2 24 | $147.2M | $23.1M |
自由现金流率AMKAI
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 16.2% | ||
| Q2 25 | — | 14.3% | ||
| Q1 25 | — | 7.9% | ||
| Q4 24 | — | 17.9% | ||
| Q3 24 | 68.3% | 17.8% | ||
| Q2 24 | 54.6% | 8.4% |
资本支出强度AMKAI
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | 0.0% | 2.2% | ||
| Q3 24 | 0.2% | 1.5% | ||
| Q2 24 | 25.4% | 1.8% |
现金转化率AMKAI
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | 1.70× | ||
| Q2 25 | 2.13× | 1.55× | ||
| Q1 25 | 1.65× | 0.95× | ||
| Q4 24 | 2.09× | 2.16× | ||
| Q3 24 | 1.85× | 1.66× | ||
| Q2 24 | 2.51× | 0.90× |
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% |
KAI
| Flow Control | $94.8M | 35% |
| Capital | $83.2M | 31% |
| Material Handling Systems | $70.3M | 26% |
| Transferred Over Time | $17.1M | 6% |
| Other | $6.1M | 2% |
