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Antero Midstream Corp（AM）与MARCUS CORP（MCS）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MARCUS CORP的1.5倍（$291.1M vs $193.5M），MARCUS CORP同比增速更快（2.8% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $26.4M），过去两年MARCUS CORP的营收复合增速更高（18.2% 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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
AM vs MCS — 直观对比
营收规模更大
AM
是对方的1.5倍
$193.5M
营收增速更快
MCS
高出10.1%
-7.3%
自由现金流更多
AM
多$160.5M
$26.4M
两年增速更快
MCS
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $193.5M |
| 净利润 | $120.7M | — |
| 毛利率 | — | — |
| 营业利润率 | 60.9% | 0.9% |
| 净利率 | 41.5% | — |
| 营收同比 | -7.3% | 2.8% |
| 净利润同比 | 2.1% | — |
| 每股收益（稀释后） | $0.25 | — |
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AMMCS
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $193.5M | ||
| Q3 25 | $294.8M | $210.2M | ||
| Q2 25 | $305.5M | $206.0M | ||
| Q1 25 | $291.1M | $148.8M | ||
| Q4 24 | $287.5M | $188.3M | ||
| Q3 24 | $269.9M | $232.7M | ||
| Q2 24 | $269.8M | $176.0M |
净利润AMMCS
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | — | ||
| Q3 25 | $116.0M | $16.2M | ||
| Q2 25 | $124.5M | $7.3M | ||
| Q1 25 | $120.7M | $-16.8M | ||
| Q4 24 | $111.2M | $986.0K | ||
| Q3 24 | $99.7M | $23.3M | ||
| Q2 24 | $86.0M | $-20.2M |
营业利润率AMMCS
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 0.9% | ||
| Q3 25 | 61.2% | 10.8% | ||
| Q2 25 | 61.0% | 6.3% | ||
| Q1 25 | 60.9% | -13.7% | ||
| Q4 24 | 61.8% | -1.2% | ||
| Q3 24 | 60.2% | 14.1% | ||
| Q2 24 | 56.6% | 1.3% |
净利率AMMCS
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | — | ||
| Q3 25 | 39.3% | 7.7% | ||
| Q2 25 | 40.8% | 3.6% | ||
| Q1 25 | 41.5% | -11.3% | ||
| Q4 24 | 38.7% | 0.5% | ||
| Q3 24 | 37.0% | 10.0% | ||
| Q2 24 | 31.9% | -11.5% |
每股收益（稀释后）AMMCS
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.24 | — | ||
| Q2 25 | $0.26 | — | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $0.21 | — | ||
| Q2 24 | $0.18 | — |
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 | $23.4M |
| 总债务越低越好 | $3.2B | $159.0M |
| 股东权益账面价值 | $2.0B | $457.4M |
| 总资产 | $5.9B | $1.0B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资AMMCS
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $23.4M | ||
| Q3 25 | — | $7.4M | ||
| Q2 25 | — | $14.9M | ||
| Q1 25 | — | $11.9M | ||
| Q4 24 | — | $40.8M | ||
| Q3 24 | — | $28.4M | ||
| Q2 24 | — | $32.8M |
总债务AMMCS
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $159.0M | ||
| Q3 25 | $3.0B | $162.0M | ||
| Q2 25 | $3.0B | $179.9M | ||
| Q1 25 | $3.1B | $198.9M | ||
| Q4 24 | $3.1B | $159.1M | ||
| Q3 24 | $3.2B | $173.1M | ||
| Q2 24 | $3.2B | $175.7M |
股东权益AMMCS
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $457.4M | ||
| Q3 25 | $2.1B | $454.3M | ||
| Q2 25 | $2.1B | $448.4M | ||
| Q1 25 | $2.1B | $441.8M | ||
| Q4 24 | $2.1B | $464.9M | ||
| Q3 24 | $2.1B | $462.3M | ||
| Q2 24 | $2.1B | $449.4M |
总资产AMMCS
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $1.0B | ||
| Q3 25 | $5.7B | $1.0B | ||
| Q2 25 | $5.7B | $1.0B | ||
| Q1 25 | $5.8B | $1.0B | ||
| Q4 24 | $5.8B | $1.0B | ||
| Q3 24 | $5.8B | $1.0B | ||
| Q2 24 | $5.8B | $1.1B |
负债/权益比AMMCS
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.35× | ||
| Q3 25 | 1.46× | 0.36× | ||
| Q2 25 | 1.45× | 0.40× | ||
| Q1 25 | 1.49× | 0.45× | ||
| Q4 24 | 1.47× | 0.34× | ||
| Q3 24 | 1.49× | 0.37× | ||
| Q2 24 | 1.50× | 0.39× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $26.4M |
| 自由现金流率自由现金流/营收 | 64.2% | 13.6% |
| 资本支出强度资本支出/营收 | 11.1% | 11.6% |
| 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 | — | $989.0K |
8季度趋势，按日历期对齐
经营现金流AMMCS
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $48.8M | ||
| Q3 25 | $212.8M | $39.1M | ||
| Q2 25 | $265.2M | $31.6M | ||
| Q1 25 | $198.9M | $-35.3M | ||
| Q4 24 | $232.7M | $52.6M | ||
| Q3 24 | $184.9M | $30.5M | ||
| Q2 24 | $215.8M | $36.0M |
自由现金流AMMCS
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | $26.4M | ||
| Q3 25 | — | $18.2M | ||
| Q2 25 | — | $14.7M | ||
| Q1 25 | — | $-58.3M | ||
| Q4 24 | — | $27.1M | ||
| Q3 24 | $184.3M | $12.0M | ||
| Q2 24 | $147.2M | $16.1M |
自由现金流率AMMCS
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | 13.6% | ||
| Q3 25 | — | 8.7% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | — | -39.2% | ||
| Q4 24 | — | 14.4% | ||
| Q3 24 | 68.3% | 5.2% | ||
| Q2 24 | 54.6% | 9.2% |
资本支出强度AMMCS
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 11.6% | ||
| Q3 25 | — | 9.9% | ||
| Q2 25 | — | 8.2% | ||
| Q1 25 | — | 15.5% | ||
| Q4 24 | 0.0% | 13.5% | ||
| Q3 24 | 0.2% | 7.9% | ||
| Q2 24 | 25.4% | 11.3% |
现金转化率AMMCS
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | 2.41× | ||
| Q2 25 | 2.13× | 4.32× | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | 53.31× | ||
| Q3 24 | 1.85× | 1.31× | ||
| 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% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
