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Antero Midstream Corp（AM）与Kinetik Holdings Inc.（KNTK）财务数据对比。点击上方公司名可切换其他公司
Kinetik Holdings Inc.的季度营收约是Antero Midstream Corp的1.4倍（$430.4M vs $297.0M）。Kinetik Holdings Inc.净利率更高（96.8% vs 17.5%，领先79.3%）。Kinetik Holdings Inc.同比增速更快（11.6% vs 3.3%）。过去两年Kinetik Holdings Inc.的营收复合增速更高（12.3% 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。
Kinetik Holdings Inc.是一家聚焦二叠纪盆地的中游能源基础设施供应商，为美国南部核心油气产区的上游作业方提供天然气收集、处理、运输、存储，以及原油、采出水处置等一体化服务。
AM vs KNTK — 直观对比
营收规模更大
KNTK
是对方的1.4倍
$297.0M
营收增速更快
KNTK
高出8.3%
3.3%
净利率更高
KNTK
高出79.3%
17.5%
两年增速更快
KNTK
近两年复合增速
3.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $297.0M | $430.4M |
| 净利润 | $51.9M | $416.7M |
| 毛利率 | — | — |
| 营业利润率 | 33.8% | 11.2% |
| 净利率 | 17.5% | 96.8% |
| 营收同比 | 3.3% | 11.6% |
| 净利润同比 | -53.3% | 2468.4% |
| 每股收益（稀释后） | $0.11 | $2.22 |
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AMKNTK
| Q4 25 | $297.0M | $430.4M | ||
| Q3 25 | $294.8M | $464.0M | ||
| Q2 25 | $305.5M | $426.7M | ||
| Q1 25 | $291.1M | $443.3M | ||
| Q4 24 | $287.5M | $385.7M | ||
| Q3 24 | $269.9M | $396.4M | ||
| Q2 24 | $269.8M | $359.5M | ||
| Q1 24 | $279.1M | $341.4M |
净利润AMKNTK
| Q4 25 | $51.9M | $416.7M | ||
| Q3 25 | $116.0M | $5.3M | ||
| Q2 25 | $124.5M | $23.6M | ||
| Q1 25 | $120.7M | $19.3M | ||
| Q4 24 | $111.2M | $16.2M | ||
| Q3 24 | $99.7M | $25.8M | ||
| Q2 24 | $86.0M | $37.2M | ||
| Q1 24 | $103.9M | $233.6M |
营业利润率AMKNTK
| Q4 25 | 33.8% | 11.2% | ||
| Q3 25 | 61.2% | 4.3% | ||
| Q2 25 | 61.0% | 18.2% | ||
| Q1 25 | 60.9% | 4.3% | ||
| Q4 24 | 61.8% | 6.1% | ||
| Q3 24 | 60.2% | 18.4% | ||
| Q2 24 | 56.6% | 15.7% | ||
| Q1 24 | 59.6% | 7.6% |
净利率AMKNTK
| Q4 25 | 17.5% | 96.8% | ||
| Q3 25 | 39.3% | 1.1% | ||
| Q2 25 | 40.8% | 5.5% | ||
| Q1 25 | 41.5% | 4.3% | ||
| Q4 24 | 38.7% | 4.2% | ||
| Q3 24 | 37.0% | 6.5% | ||
| Q2 24 | 31.9% | 10.3% | ||
| Q1 24 | 37.2% | 68.4% |
每股收益（稀释后）AMKNTK
| Q4 25 | $0.11 | $2.22 | ||
| Q3 25 | $0.24 | $0.03 | ||
| Q2 25 | $0.26 | $0.33 | ||
| Q1 25 | $0.25 | $0.05 | ||
| Q4 24 | $0.23 | $0.01 | ||
| Q3 24 | $0.21 | $0.35 | ||
| Q2 24 | $0.18 | $0.54 | ||
| Q1 24 | $0.21 | $0.12 |
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 | $4.0M |
| 总债务越低越好 | $3.2B | $3.6B |
| 股东权益账面价值 | $2.0B | $-565.4M |
| 总资产 | $5.9B | $7.1B |
| 负债/权益比越低杠杆越低 | 1.63× | — |
8季度趋势，按日历期对齐
现金及短期投资AMKNTK
| Q4 25 | $180.4M | $4.0M | ||
| Q3 25 | — | $7.7M | ||
| Q2 25 | — | $10.7M | ||
| Q1 25 | — | $8.8M | ||
| Q4 24 | — | $3.6M | ||
| Q3 24 | — | $20.4M | ||
| Q2 24 | — | $12.5M | ||
| Q1 24 | $26.1M | $9.8M |
总债务AMKNTK
| Q4 25 | $3.2B | $3.6B | ||
| Q3 25 | $3.0B | $4.0B | ||
| Q2 25 | $3.0B | $3.7B | ||
| Q1 25 | $3.1B | $3.6B | ||
| Q4 24 | $3.1B | $3.4B | ||
| Q3 24 | $3.2B | $3.3B | ||
| Q2 24 | $3.2B | $3.3B | ||
| Q1 24 | $3.2B | $3.5B |
股东权益AMKNTK
| Q4 25 | $2.0B | $-565.4M | ||
| Q3 25 | $2.1B | $-1.8B | ||
| Q2 25 | $2.1B | $-1.6B | ||
| Q1 25 | $2.1B | $-2.5B | ||
| Q4 24 | $2.1B | $-3.0B | ||
| Q3 24 | $2.1B | $-1.7B | ||
| Q2 24 | $2.1B | $-1.2B | ||
| Q1 24 | $2.2B | $-973.4M |
总资产AMKNTK
| Q4 25 | $5.9B | $7.1B | ||
| Q3 25 | $5.7B | $7.2B | ||
| Q2 25 | $5.7B | $7.2B | ||
| Q1 25 | $5.8B | $7.0B | ||
| Q4 24 | $5.8B | $6.8B | ||
| Q3 24 | $5.8B | $6.9B | ||
| Q2 24 | $5.8B | $6.9B | ||
| Q1 24 | $5.7B | $6.4B |
负债/权益比AMKNTK
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.50× | — | ||
| 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 | $110.1M |
| 自由现金流经营现金流 - 资本支出 | — | $-24.0M |
| 自由现金流率自由现金流/营收 | — | -5.6% |
| 资本支出强度资本支出/营收 | — | 31.2% |
| 现金转化率经营现金流/净利润 | 4.92× | 0.26× |
| 过去12个月自由现金流最近4个季度 | — | $111.6M |
8季度趋势，按日历期对齐
经营现金流AMKNTK
| Q4 25 | $255.5M | $110.1M | ||
| Q3 25 | $212.8M | $188.1M | ||
| Q2 25 | $265.2M | $129.1M | ||
| Q1 25 | $198.9M | $176.8M | ||
| Q4 24 | $232.7M | $144.0M | ||
| Q3 24 | $184.9M | $214.1M | ||
| Q2 24 | $215.8M | $125.5M | ||
| Q1 24 | $210.6M | $153.7M |
自由现金流AMKNTK
| Q4 25 | — | $-24.0M | ||
| Q3 25 | — | $31.6M | ||
| Q2 25 | — | $1.8M | ||
| Q1 25 | — | $102.3M | ||
| Q4 24 | — | $36.3M | ||
| Q3 24 | $184.3M | $155.7M | ||
| Q2 24 | $147.2M | $86.1M | ||
| Q1 24 | $208.5M | $95.7M |
自由现金流率AMKNTK
| Q4 25 | — | -5.6% | ||
| Q3 25 | — | 6.8% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 23.1% | ||
| Q4 24 | — | 9.4% | ||
| Q3 24 | 68.3% | 39.3% | ||
| Q2 24 | 54.6% | 24.0% | ||
| Q1 24 | 74.7% | 28.0% |
资本支出强度AMKNTK
| Q4 25 | — | 31.2% | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 29.8% | ||
| Q1 25 | — | 16.8% | ||
| Q4 24 | 0.0% | 27.9% | ||
| Q3 24 | 0.2% | 14.7% | ||
| Q2 24 | 25.4% | 11.0% | ||
| Q1 24 | 0.7% | 17.0% |
现金转化率AMKNTK
| Q4 25 | 4.92× | 0.26× | ||
| Q3 25 | 1.84× | 35.73× | ||
| Q2 25 | 2.13× | 5.46× | ||
| Q1 25 | 1.65× | 9.18× | ||
| Q4 24 | 2.09× | 8.88× | ||
| Q3 24 | 1.85× | 8.31× | ||
| Q2 24 | 2.51× | 3.37× | ||
| Q1 24 | 2.03× | 0.66× |
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% |
KNTK
| Natural Gas NG Ls And Condensate Sales | $325.5M | 76% |
| Gathering And Processing Services | $101.6M | 24% |
| Other | $3.3M | 1% |
| Barilla Draw | $2.3M | 1% |
