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Antero Midstream Corp（AM）与Kodiak Gas Services, Inc.（KGS）财务数据对比。点击上方公司名可切换其他公司
Kodiak Gas Services, Inc.的季度营收约是Antero Midstream Corp的1.1倍（$332.9M vs $297.0M）。Antero Midstream Corp净利率更高（17.5% vs 7.4%，领先10.1%）。Kodiak Gas Services, Inc.同比增速更快（7.5% vs 3.3%）。过去两年Kodiak Gas Services, Inc.的营收复合增速更高（24.3% vs 3.2%）
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。
Kodiak Gas Services是北美知名的天然气压缩服务供应商，主要服务油气行业上下游客户，提供定制化压缩设备、运维及运营支持，帮助客户优化陆上天然气收集、处理与运输全流程的运营效率。
AM vs KGS — 直观对比
营收规模更大
KGS
是对方的1.1倍
$297.0M
营收增速更快
KGS
高出4.2%
3.3%
净利率更高
AM
高出10.1%
7.4%
两年增速更快
KGS
近两年复合增速
3.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $297.0M | $332.9M |
| 净利润 | $51.9M | $24.6M |
| 毛利率 | — | — |
| 营业利润率 | 33.8% | 26.1% |
| 净利率 | 17.5% | 7.4% |
| 营收同比 | 3.3% | 7.5% |
| 净利润同比 | -53.3% | 29.0% |
| 每股收益（稀释后） | $0.11 | $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AMKGS
| Q4 25 | $297.0M | $332.9M | ||
| Q3 25 | $294.8M | $322.7M | ||
| Q2 25 | $305.5M | $322.8M | ||
| Q1 25 | $291.1M | $329.6M | ||
| Q4 24 | $287.5M | $309.5M | ||
| Q3 24 | $269.9M | $324.6M | ||
| Q2 24 | $269.8M | $309.7M | ||
| Q1 24 | $279.1M | $215.5M |
净利润AMKGS
| Q4 25 | $51.9M | $24.6M | ||
| Q3 25 | $116.0M | $-14.0M | ||
| Q2 25 | $124.5M | $39.5M | ||
| Q1 25 | $120.7M | $30.4M | ||
| Q4 24 | $111.2M | $19.1M | ||
| Q3 24 | $99.7M | $-5.6M | ||
| Q2 24 | $86.0M | $6.2M | ||
| Q1 24 | $103.9M | $30.2M |
毛利率AMKGS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 37.5% | ||
| Q2 24 | — | 36.5% | ||
| Q1 24 | — | 39.4% |
营业利润率AMKGS
| Q4 25 | 33.8% | 26.1% | ||
| Q3 25 | 61.2% | 19.9% | ||
| Q2 25 | 61.0% | 30.9% | ||
| Q1 25 | 60.9% | 27.1% | ||
| Q4 24 | 61.8% | 22.3% | ||
| Q3 24 | 60.2% | 20.4% | ||
| Q2 24 | 56.6% | 17.5% | ||
| Q1 24 | 59.6% | 27.9% |
净利率AMKGS
| Q4 25 | 17.5% | 7.4% | ||
| Q3 25 | 39.3% | -4.3% | ||
| Q2 25 | 40.8% | 12.2% | ||
| Q1 25 | 41.5% | 9.2% | ||
| Q4 24 | 38.7% | 6.2% | ||
| Q3 24 | 37.0% | -1.7% | ||
| Q2 24 | 31.9% | 2.0% | ||
| Q1 24 | 37.2% | 14.0% |
每股收益（稀释后）AMKGS
| Q4 25 | $0.11 | $0.30 | ||
| Q3 25 | $0.24 | $-0.17 | ||
| Q2 25 | $0.26 | $0.43 | ||
| Q1 25 | $0.25 | $0.33 | ||
| Q4 24 | $0.23 | $0.18 | ||
| Q3 24 | $0.21 | $-0.07 | ||
| Q2 24 | $0.18 | $0.06 | ||
| Q1 24 | $0.21 | $0.39 |
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 | $3.2M |
| 总债务越低越好 | $3.2B | $2.6B |
| 股东权益账面价值 | $2.0B | $1.2B |
| 总资产 | $5.9B | $4.3B |
| 负债/权益比越低杠杆越低 | 1.63× | 2.12× |
8季度趋势，按日历期对齐
现金及短期投资AMKGS
| Q4 25 | $180.4M | $3.2M | ||
| Q3 25 | — | $724.0K | ||
| Q2 25 | — | $5.4M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | — | $4.8M | ||
| Q3 24 | — | $7.4M | ||
| Q2 24 | — | $3.9M | ||
| Q1 24 | $26.1M | $9.3M |
总债务AMKGS
| Q4 25 | $3.2B | $2.6B | ||
| Q3 25 | $3.0B | $2.6B | ||
| Q2 25 | $3.0B | $2.5B | ||
| Q1 25 | $3.1B | $2.6B | ||
| Q4 24 | $3.1B | $2.6B | ||
| Q3 24 | $3.2B | $2.6B | ||
| Q2 24 | $3.2B | $2.5B | ||
| Q1 24 | $3.2B | — |
股东权益AMKGS
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $2.1B | $1.3B | ||
| Q2 25 | $2.1B | $1.3B | ||
| Q1 25 | $2.1B | $1.4B | ||
| Q4 24 | $2.1B | $1.4B | ||
| Q3 24 | $2.1B | $1.4B | ||
| Q2 24 | $2.1B | $1.5B | ||
| Q1 24 | $2.2B | $1.1B |
总资产AMKGS
| Q4 25 | $5.9B | $4.3B | ||
| Q3 25 | $5.7B | $4.4B | ||
| Q2 25 | $5.7B | $4.4B | ||
| Q1 25 | $5.8B | $4.4B | ||
| Q4 24 | $5.8B | $4.4B | ||
| Q3 24 | $5.8B | $4.5B | ||
| Q2 24 | $5.8B | $4.4B | ||
| Q1 24 | $5.7B | $3.3B |
负债/权益比AMKGS
| Q4 25 | 1.63× | 2.12× | ||
| Q3 25 | 1.46× | 2.08× | ||
| Q2 25 | 1.45× | 1.89× | ||
| Q1 25 | 1.49× | 1.91× | ||
| Q4 24 | 1.47× | 1.88× | ||
| Q3 24 | 1.49× | 1.86× | ||
| Q2 24 | 1.50× | 1.71× | ||
| Q1 24 | 1.48× | — |
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 | $255.5M | $194.9M |
| 自由现金流经营现金流 - 资本支出 | — | $142.0M |
| 自由现金流率自由现金流/营收 | — | 42.7% |
| 资本支出强度资本支出/营收 | — | 15.9% |
| 现金转化率经营现金流/净利润 | 4.92× | 7.91× |
| 过去12个月自由现金流最近4个季度 | — | $284.3M |
8季度趋势，按日历期对齐
经营现金流AMKGS
| Q4 25 | $255.5M | $194.9M | ||
| Q3 25 | $212.8M | $113.4M | ||
| Q2 25 | $265.2M | $177.2M | ||
| Q1 25 | $198.9M | $114.3M | ||
| Q4 24 | $232.7M | $118.5M | ||
| Q3 24 | $184.9M | $36.9M | ||
| Q2 24 | $215.8M | $121.1M | ||
| Q1 24 | $210.6M | $51.5M |
自由现金流AMKGS
| Q4 25 | — | $142.0M | ||
| Q3 25 | — | $10.9M | ||
| Q2 25 | — | $94.6M | ||
| Q1 25 | — | $36.8M | ||
| Q4 24 | — | $45.2M | ||
| Q3 24 | $184.3M | $-49.7M | ||
| Q2 24 | $147.2M | $4.0M | ||
| Q1 24 | $208.5M | $-8.6M |
自由现金流率AMKGS
| Q4 25 | — | 42.7% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 29.3% | ||
| Q1 25 | — | 11.2% | ||
| Q4 24 | — | 14.6% | ||
| Q3 24 | 68.3% | -15.3% | ||
| Q2 24 | 54.6% | 1.3% | ||
| Q1 24 | 74.7% | -4.0% |
资本支出强度AMKGS
| Q4 25 | — | 15.9% | ||
| Q3 25 | — | 31.7% | ||
| Q2 25 | — | 25.6% | ||
| Q1 25 | — | 23.5% | ||
| Q4 24 | 0.0% | 23.7% | ||
| Q3 24 | 0.2% | 26.7% | ||
| Q2 24 | 25.4% | 37.8% | ||
| Q1 24 | 0.7% | 27.9% |
现金转化率AMKGS
| Q4 25 | 4.92× | 7.91× | ||
| Q3 25 | 1.84× | — | ||
| Q2 25 | 2.13× | 4.49× | ||
| Q1 25 | 1.65× | 3.76× | ||
| Q4 24 | 2.09× | 6.21× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 2.51× | 19.44× | ||
| Q1 24 | 2.03× | 1.70× |
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 Low Pressure | $114.2M | 38% |
| Natural Gas Water Handling And Treatment Affiliate | $63.2M | 21% |
| Water Handling | $55.7M | 19% |
| Fresh Water Delivery | $37.2M | 13% |
| Other Fluid Handling | $26.9M | 9% |
KGS
| Other Services | $126.8M | 38% |
| Other | $112.2M | 34% |
| Transferred At Point In Time | $93.8M | 28% |
