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Antero Midstream Corp（AM）与丰田北美（MPAA）财务数据对比。点击上方公司名可切换其他公司
Antero Midstream Corp的季度营收约是丰田北美的1.7倍（$291.1M vs $167.7M），Antero Midstream Corp净利率更高（41.5% vs 1.1%，领先40.4%），Antero Midstream Corp同比增速更快（-7.3% vs -9.9%），过去两年Antero Midstream Corp的营收复合增速更高（3.9% vs -5.9%）
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。
丰田北美（TMNA）是丰田汽车旗下负责加拿大、墨西哥及美国全境业务的运营子公司，业务范围覆盖研发、生产制造、销售营销、售后及企业管理等板块，相关核心业务由TMNA统筹，部分板块由其他子公司及控股企业负责执行，公司总部位于得克萨斯州普莱诺，在肯塔基州乔治敦等多地设有分支机构。
AM vs MPAA — 直观对比
营收规模更大
AM
是对方的1.7倍
$167.7M
营收增速更快
AM
高出2.6%
-9.9%
净利率更高
AM
高出40.4%
1.1%
两年增速更快
AM
近两年复合增速
-5.9%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $167.7M |
| 净利润 | $120.7M | $1.8M |
| 毛利率 | — | 19.6% |
| 营业利润率 | 60.9% | 5.0% |
| 净利率 | 41.5% | 1.1% |
| 营收同比 | -7.3% | -9.9% |
| 净利润同比 | 2.1% | -22.4% |
| 每股收益（稀释后） | $0.25 | $0.09 |
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AMMPAA
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $167.7M | ||
| Q3 25 | $294.8M | $221.5M | ||
| Q2 25 | $305.5M | $188.4M | ||
| Q1 25 | $291.1M | $193.1M | ||
| Q4 24 | $287.5M | $186.2M | ||
| Q3 24 | $269.9M | $208.2M | ||
| Q2 24 | $269.8M | $169.9M |
净利润AMMPAA
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $1.8M | ||
| Q3 25 | $116.0M | $-2.1M | ||
| Q2 25 | $124.5M | $3.0M | ||
| Q1 25 | $120.7M | $-722.0K | ||
| Q4 24 | $111.2M | $2.3M | ||
| Q3 24 | $99.7M | $-3.0M | ||
| Q2 24 | $86.0M | $-18.1M |
毛利率AMMPAA
| Q1 26 | — | — | ||
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | — | 18.0% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | — | 24.1% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | — | 17.2% |
营业利润率AMMPAA
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 5.0% | ||
| Q3 25 | 61.2% | 7.4% | ||
| Q2 25 | 61.0% | 10.7% | ||
| Q1 25 | 60.9% | 8.4% | ||
| Q4 24 | 61.8% | 9.4% | ||
| Q3 24 | 60.2% | 6.0% | ||
| Q2 24 | 56.6% | -3.8% |
净利率AMMPAA
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 1.1% | ||
| Q3 25 | 39.3% | -1.0% | ||
| Q2 25 | 40.8% | 1.6% | ||
| Q1 25 | 41.5% | -0.4% | ||
| Q4 24 | 38.7% | 1.2% | ||
| Q3 24 | 37.0% | -1.4% | ||
| Q2 24 | 31.9% | -10.6% |
每股收益（稀释后）AMMPAA
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $0.09 | ||
| Q3 25 | $0.24 | $-0.11 | ||
| Q2 25 | $0.26 | $0.15 | ||
| Q1 25 | $0.25 | $-0.03 | ||
| Q4 24 | $0.23 | $0.11 | ||
| Q3 24 | $0.21 | $-0.15 | ||
| Q2 24 | $0.18 | $-0.92 |
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 | $19.6M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | $258.5M |
| 总资产 | $5.9B | $991.3M |
| 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AMMPAA
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $19.6M | ||
| Q3 25 | — | $17.7M | ||
| Q2 25 | — | $14.5M | ||
| Q1 25 | — | $11.3M | ||
| Q4 24 | — | $12.7M | ||
| Q3 24 | — | $12.3M | ||
| Q2 24 | — | $9.4M |
总债务AMMPAA
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — |
股东权益AMMPAA
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $258.5M | ||
| Q3 25 | $2.1B | $258.5M | ||
| Q2 25 | $2.1B | $260.1M | ||
| Q1 25 | $2.1B | $257.7M | ||
| Q4 24 | $2.1B | $262.7M | ||
| Q3 24 | $2.1B | $264.0M | ||
| Q2 24 | $2.1B | $267.2M |
总资产AMMPAA
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $991.3M | ||
| Q3 25 | $5.7B | $990.0M | ||
| Q2 25 | $5.7B | $973.4M | ||
| Q1 25 | $5.8B | $957.6M | ||
| Q4 24 | $5.8B | $949.5M | ||
| Q3 24 | $5.8B | $986.2M | ||
| Q2 24 | $5.8B | $978.0M |
负债/权益比AMMPAA
| Q1 26 | 1.63× | — | ||
| 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× | — |
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 | $-8.2M |
| 自由现金流经营现金流 - 资本支出 | — | $-8.6M |
| 自由现金流率自由现金流/营收 | — | -5.2% |
| 资本支出强度资本支出/营收 | 11.1% | 0.2% |
| 现金转化率经营现金流/净利润 | 1.65× | -4.63× |
| 过去12个月自由现金流最近4个季度 | — | $27.7M |
8季度趋势，按日历期对齐
经营现金流AMMPAA
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $-8.2M | ||
| Q3 25 | $212.8M | $21.9M | ||
| Q2 25 | $265.2M | $10.0M | ||
| Q1 25 | $198.9M | $9.1M | ||
| Q4 24 | $232.7M | $34.4M | ||
| Q3 24 | $184.9M | $22.9M | ||
| Q2 24 | $215.8M | $-20.8M |
自由现金流AMMPAA
| Q1 26 | — | — | ||
| Q4 25 | — | $-8.6M | ||
| Q3 25 | — | $20.8M | ||
| Q2 25 | — | $9.2M | ||
| Q1 25 | — | $6.2M | ||
| Q4 24 | — | $33.7M | ||
| Q3 24 | $184.3M | $22.3M | ||
| Q2 24 | $147.2M | $-21.3M |
自由现金流率AMMPAA
| Q1 26 | — | — | ||
| Q4 25 | — | -5.2% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 4.9% | ||
| Q1 25 | — | 3.2% | ||
| Q4 24 | — | 18.1% | ||
| Q3 24 | 68.3% | 10.7% | ||
| Q2 24 | 54.6% | -12.6% |
资本支出强度AMMPAA
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | 0.0% | 0.4% | ||
| Q3 24 | 0.2% | 0.3% | ||
| Q2 24 | 25.4% | 0.3% |
现金转化率AMMPAA
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | -4.63× | ||
| Q3 25 | 1.84× | — | ||
| Q2 25 | 2.13× | 3.30× | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | 15.00× | ||
| 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% |
MPAA
| Reportable Segment Aggregation Before Other Operating Segment | $156.3M | 93% |
| Other | $11.4M | 7% |
