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Antero Midstream Corp（AM）与Mativ Holdings, Inc.（MATV）财务数据对比。点击上方公司名可切换其他公司
Mativ Holdings, Inc.的季度营收约是Antero Midstream Corp的1.6倍（$463.1M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs 21.8%，领先19.7%），Mativ Holdings, Inc.同比增速更快（1.0% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $8.0M），过去两年Antero Midstream Corp的营收复合增速更高（3.9% vs -3.8%）
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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
AM vs MATV — 直观对比
营收规模更大
MATV
是对方的1.6倍
$291.1M
营收增速更快
MATV
高出8.3%
-7.3%
净利率更高
AM
高出19.7%
21.8%
自由现金流更多
AM
多$178.9M
$8.0M
两年增速更快
AM
近两年复合增速
-3.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $463.1M |
| 净利润 | $120.7M | $100.8M |
| 毛利率 | — | 18.8% |
| 营业利润率 | 60.9% | 2.2% |
| 净利率 | 41.5% | 21.8% |
| 营收同比 | -7.3% | 1.0% |
| 净利润同比 | 2.1% | 6620.0% |
| 每股收益（稀释后） | $0.25 | $1.87 |
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AMMATV
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $463.1M | ||
| Q3 25 | $294.8M | $513.7M | ||
| Q2 25 | $305.5M | $525.4M | ||
| Q1 25 | $291.1M | $484.8M | ||
| Q4 24 | $287.5M | $458.6M | ||
| Q3 24 | $269.9M | $498.5M | ||
| Q2 24 | $269.8M | $523.8M |
净利润AMMATV
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $100.8M | ||
| Q3 25 | $116.0M | $-3.2M | ||
| Q2 25 | $124.5M | $-9.5M | ||
| Q1 25 | $120.7M | $-425.5M | ||
| Q4 24 | $111.2M | $1.5M | ||
| Q3 24 | $99.7M | $-20.8M | ||
| Q2 24 | $86.0M | $-1.4M |
毛利率AMMATV
| Q1 26 | — | — | ||
| Q4 25 | — | 18.8% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | — | 19.7% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 18.8% | ||
| Q2 24 | — | 20.8% |
营业利润率AMMATV
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 2.2% | ||
| Q3 25 | 61.2% | 3.1% | ||
| Q2 25 | 61.0% | 3.8% | ||
| Q1 25 | 60.9% | -88.8% | ||
| Q4 24 | 61.8% | 0.6% | ||
| Q3 24 | 60.2% | 1.4% | ||
| Q2 24 | 56.6% | 2.0% |
净利率AMMATV
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 21.8% | ||
| Q3 25 | 39.3% | -0.6% | ||
| Q2 25 | 40.8% | -1.8% | ||
| Q1 25 | 41.5% | -87.8% | ||
| Q4 24 | 38.7% | 0.3% | ||
| Q3 24 | 37.0% | -4.2% | ||
| Q2 24 | 31.9% | -0.3% |
每股收益（稀释后）AMMATV
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $1.87 | ||
| Q3 25 | $0.24 | $-0.06 | ||
| Q2 25 | $0.26 | $-0.18 | ||
| Q1 25 | $0.25 | $-7.82 | ||
| Q4 24 | $0.23 | $0.03 | ||
| Q3 24 | $0.21 | $-0.38 | ||
| Q2 24 | $0.18 | $-0.03 |
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 | $84.2M |
| 总债务越低越好 | $3.2B | $1.0B |
| 股东权益账面价值 | $2.0B | $498.7M |
| 总资产 | $5.9B | $2.1B |
| 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AMMATV
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $84.2M | ||
| Q3 25 | — | $97.1M | ||
| Q2 25 | — | $95.6M | ||
| Q1 25 | — | $84.0M | ||
| Q4 24 | — | $94.3M | ||
| Q3 24 | — | $162.2M | ||
| Q2 24 | — | $133.4M |
总债务AMMATV
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $1.0B | ||
| Q3 25 | $3.0B | $1.0B | ||
| Q2 25 | $3.0B | $1.1B | ||
| Q1 25 | $3.1B | $1.1B | ||
| Q4 24 | $3.1B | $1.1B | ||
| Q3 24 | $3.2B | $1.2B | ||
| Q2 24 | $3.2B | $1.2B |
股东权益AMMATV
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $498.7M | ||
| Q3 25 | $2.1B | $397.4M | ||
| Q2 25 | $2.1B | $416.6M | ||
| Q1 25 | $2.1B | $428.2M | ||
| Q4 24 | $2.1B | $858.5M | ||
| Q3 24 | $2.1B | $882.3M | ||
| Q2 24 | $2.1B | $898.0M |
总资产AMMATV
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $2.1B | ||
| Q3 25 | $5.7B | $2.0B | ||
| Q2 25 | $5.7B | $2.1B | ||
| Q1 25 | $5.8B | $2.1B | ||
| Q4 24 | $5.8B | $2.4B | ||
| Q3 24 | $5.8B | $2.6B | ||
| Q2 24 | $5.8B | $2.6B |
负债/权益比AMMATV
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 2.07× | ||
| Q3 25 | 1.46× | 2.63× | ||
| Q2 25 | 1.45× | 2.66× | ||
| Q1 25 | 1.49× | 2.67× | ||
| Q4 24 | 1.47× | 1.30× | ||
| Q3 24 | 1.49× | 1.32× | ||
| Q2 24 | 1.50× | 1.29× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $8.0M |
| 自由现金流率自由现金流/营收 | 64.2% | 1.7% |
| 资本支出强度资本支出/营收 | 11.1% | 2.4% |
| 现金转化率经营现金流/净利润 | 1.65× | 0.19× |
| 过去12个月自由现金流最近4个季度 | — | $93.8M |
8季度趋势，按日历期对齐
经营现金流AMMATV
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $19.3M | ||
| Q3 25 | $212.8M | $72.8M | ||
| Q2 25 | $265.2M | $57.6M | ||
| Q1 25 | $198.9M | $-15.9M | ||
| Q4 24 | $232.7M | $24.1M | ||
| Q3 24 | $184.9M | $37.6M | ||
| Q2 24 | $215.8M | $46.1M |
自由现金流AMMATV
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $66.7M | ||
| Q2 25 | — | $48.9M | ||
| Q1 25 | — | $-29.8M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | $184.3M | $25.5M | ||
| Q2 24 | $147.2M | $37.4M |
自由现金流率AMMATV
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 13.0% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | -6.1% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | 68.3% | 5.1% | ||
| Q2 24 | 54.6% | 7.1% |
资本支出强度AMMATV
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 2.9% | ||
| Q4 24 | 0.0% | 4.8% | ||
| Q3 24 | 0.2% | 2.4% | ||
| Q2 24 | 25.4% | 1.7% |
现金转化率AMMATV
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | 0.19× | ||
| Q3 25 | 1.84× | — | ||
| Q2 25 | 2.13× | — | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | 16.07× | ||
| 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% |
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
