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Antero Midstream Corp（AM）与MACERICH CO（MAC）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MACERICH CO的1.1倍（$291.1M vs $261.7M），Antero Midstream Corp净利率更高（41.5% vs -7.2%，领先48.6%），MACERICH CO同比增速更快（-4.4% vs -7.3%），过去两年MACERICH CO的营收复合增速更高（12.0% 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。
Macerich是一家专注于购物中心投资的房地产投资信托基金，为美国第三大购物中心持有及运营商。截至2024年12月31日，公司共持有43处物业的权益，可租赁总面积达4300万平方英尺，公司名称由创始人Mace Siegel与Richard Cohen的名字组合而来。
AM vs MAC — 直观对比
营收规模更大
AM
是对方的1.1倍
$261.7M
营收增速更快
MAC
高出3.0%
-7.3%
净利率更高
AM
高出48.6%
-7.2%
两年增速更快
MAC
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $261.7M |
| 净利润 | $120.7M | $-18.8M |
| 毛利率 | — | — |
| 营业利润率 | 60.9% | — |
| 净利率 | 41.5% | -7.2% |
| 营收同比 | -7.3% | -4.4% |
| 净利润同比 | 2.1% | 91.1% |
| 每股收益（稀释后） | $0.25 | $-0.08 |
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AMMAC
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $261.7M | ||
| Q3 25 | $294.8M | $253.3M | ||
| Q2 25 | $305.5M | $249.8M | ||
| Q1 25 | $291.1M | $249.2M | ||
| Q4 24 | $287.5M | $273.7M | ||
| Q3 24 | $269.9M | $220.2M | ||
| Q2 24 | $269.8M | $215.5M |
净利润AMMAC
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $-18.8M | ||
| Q3 25 | $116.0M | $-87.4M | ||
| Q2 25 | $124.5M | $-40.9M | ||
| Q1 25 | $120.7M | $-50.1M | ||
| Q4 24 | $111.2M | $-211.2M | ||
| Q3 24 | $99.7M | $-108.2M | ||
| Q2 24 | $86.0M | $252.0M |
营业利润率AMMAC
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | — | ||
| Q3 25 | 61.2% | — | ||
| Q2 25 | 61.0% | — | ||
| Q1 25 | 60.9% | — | ||
| Q4 24 | 61.8% | — | ||
| Q3 24 | 60.2% | — | ||
| Q2 24 | 56.6% | — |
净利率AMMAC
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | -7.2% | ||
| Q3 25 | 39.3% | -34.5% | ||
| Q2 25 | 40.8% | -16.4% | ||
| Q1 25 | 41.5% | -20.1% | ||
| Q4 24 | 38.7% | -77.2% | ||
| Q3 24 | 37.0% | -49.1% | ||
| Q2 24 | 31.9% | 116.9% |
每股收益（稀释后）AMMAC
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $-0.08 | ||
| Q3 25 | $0.24 | $-0.34 | ||
| Q2 25 | $0.26 | $-0.16 | ||
| Q1 25 | $0.25 | $-0.20 | ||
| Q4 24 | $0.23 | $-0.95 | ||
| Q3 24 | $0.21 | $-0.50 | ||
| Q2 24 | $0.18 | $1.16 |
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 | $280.2M |
| 总债务越低越好 | $3.2B | $5.1B |
| 股东权益账面价值 | $2.0B | $2.4B |
| 总资产 | $5.9B | $8.4B |
| 负债/权益比越低杠杆越低 | 1.63× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资AMMAC
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $280.2M | ||
| Q3 25 | — | $290.2M | ||
| Q2 25 | — | $131.1M | ||
| Q1 25 | — | $253.2M | ||
| Q4 24 | — | $89.9M | ||
| Q3 24 | — | $116.5M | ||
| Q2 24 | — | $70.7M |
总债务AMMAC
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $5.1B | ||
| Q3 25 | $3.0B | $5.1B | ||
| Q2 25 | $3.0B | $5.2B | ||
| Q1 25 | $3.1B | $5.2B | ||
| Q4 24 | $3.1B | $4.9B | ||
| Q3 24 | $3.2B | $4.3B | ||
| Q2 24 | $3.2B | $4.4B |
股东权益AMMAC
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $2.1B | $2.5B | ||
| Q2 25 | $2.1B | $2.6B | ||
| Q1 25 | $2.1B | $2.7B | ||
| Q4 24 | $2.1B | $2.8B | ||
| Q3 24 | $2.1B | $2.5B | ||
| Q2 24 | $2.1B | $2.5B |
总资产AMMAC
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $8.4B | ||
| Q3 25 | $5.7B | $8.4B | ||
| Q2 25 | $5.7B | $8.7B | ||
| Q1 25 | $5.8B | $8.7B | ||
| Q4 24 | $5.8B | $8.6B | ||
| Q3 24 | $5.8B | $7.6B | ||
| Q2 24 | $5.8B | $7.8B |
负债/权益比AMMAC
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 2.07× | ||
| Q3 25 | 1.46× | 2.02× | ||
| Q2 25 | 1.45× | 2.02× | ||
| Q1 25 | 1.49× | 1.96× | ||
| Q4 24 | 1.47× | 1.78× | ||
| Q3 24 | 1.49× | 1.73× | ||
| Q2 24 | 1.50× | 1.75× |
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 | $50.2M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | — |
| 自由现金流率自由现金流/营收 | 64.2% | — |
| 资本支出强度资本支出/营收 | 11.1% | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流AMMAC
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $50.2M | ||
| Q3 25 | $212.8M | $112.4M | ||
| Q2 25 | $265.2M | $70.5M | ||
| Q1 25 | $198.9M | $88.5M | ||
| Q4 24 | $232.7M | $54.9M | ||
| Q3 24 | $184.9M | $100.0M | ||
| Q2 24 | $215.8M | $67.4M |
自由现金流AMMAC
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $184.3M | — | ||
| Q2 24 | $147.2M | — |
自由现金流率AMMAC
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 68.3% | — | ||
| Q2 24 | 54.6% | — |
资本支出强度AMMAC
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 25.4% | — |
现金转化率AMMAC
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | — | ||
| Q2 25 | 2.13× | — | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 2.51× | 0.27× |
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% |
MAC
暂无分部数据
