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Antero Midstream Corp（AM）与PROCORE TECHNOLOGIES, INC.（PCOR）财务数据对比。点击上方公司名可切换其他公司
PROCORE TECHNOLOGIES, INC.的季度营收约是Antero Midstream Corp的1.2倍（$349.1M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs -10.8%，领先52.2%），PROCORE TECHNOLOGIES, INC.同比增速更快（15.6% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $109.2M），过去两年PROCORE TECHNOLOGIES, INC.的营收复合增速更高（13.8% 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。
Procore Technologies是2002年成立的美国建筑管理软件即服务（SaaS）企业，总部位于加利福尼亚州卡平特里亚。公司打造的全球平台可连接建筑行业从业者，支持搭建简化工作流，统一展现建筑项目信息，覆盖任务追踪、项目流程管理、日程排期等核心功能。
AM vs PCOR — 直观对比
营收规模更大
PCOR
是对方的1.2倍
$291.1M
营收增速更快
PCOR
高出22.9%
-7.3%
净利率更高
AM
高出52.2%
-10.8%
自由现金流更多
AM
多$77.7M
$109.2M
两年增速更快
PCOR
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $349.1M |
| 净利润 | $120.7M | $-37.6M |
| 毛利率 | — | 80.1% |
| 营业利润率 | 60.9% | -12.3% |
| 净利率 | 41.5% | -10.8% |
| 营收同比 | -7.3% | 15.6% |
| 净利润同比 | 2.1% | 39.6% |
| 每股收益（稀释后） | $0.25 | $-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AMPCOR
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $349.1M | ||
| Q3 25 | $294.8M | $338.9M | ||
| Q2 25 | $305.5M | $323.9M | ||
| Q1 25 | $291.1M | $310.6M | ||
| Q4 24 | $287.5M | $302.0M | ||
| Q3 24 | $269.9M | $295.9M | ||
| Q2 24 | $269.8M | $284.3M |
净利润AMPCOR
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $-37.6M | ||
| Q3 25 | $116.0M | $-9.1M | ||
| Q2 25 | $124.5M | $-21.1M | ||
| Q1 25 | $120.7M | $-33.0M | ||
| Q4 24 | $111.2M | $-62.3M | ||
| Q3 24 | $99.7M | $-26.4M | ||
| Q2 24 | $86.0M | $-6.3M |
毛利率AMPCOR
| Q1 26 | — | — | ||
| Q4 25 | — | 80.1% | ||
| Q3 25 | — | 79.7% | ||
| Q2 25 | — | 79.1% | ||
| Q1 25 | — | 79.1% | ||
| Q4 24 | — | 81.2% | ||
| Q3 24 | — | 81.4% | ||
| Q2 24 | — | 83.1% |
营业利润率AMPCOR
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | -12.3% | ||
| Q3 25 | 61.2% | -4.4% | ||
| Q2 25 | 61.0% | -9.3% | ||
| Q1 25 | 60.9% | -11.7% | ||
| Q4 24 | 61.8% | -21.9% | ||
| Q3 24 | 60.2% | -12.3% | ||
| Q2 24 | 56.6% | -5.2% |
净利率AMPCOR
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | -10.8% | ||
| Q3 25 | 39.3% | -2.7% | ||
| Q2 25 | 40.8% | -6.5% | ||
| Q1 25 | 41.5% | -10.6% | ||
| Q4 24 | 38.7% | -20.6% | ||
| Q3 24 | 37.0% | -8.9% | ||
| Q2 24 | 31.9% | -2.2% |
每股收益（稀释后）AMPCOR
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $-0.25 | ||
| Q3 25 | $0.24 | $-0.06 | ||
| Q2 25 | $0.26 | $-0.14 | ||
| Q1 25 | $0.25 | $-0.22 | ||
| Q4 24 | $0.23 | $-0.42 | ||
| Q3 24 | $0.21 | $-0.18 | ||
| Q2 24 | $0.18 | $-0.04 |
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 | $768.5M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | $1.3B |
| 总资产 | $5.9B | $2.2B |
| 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AMPCOR
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $768.5M | ||
| Q3 25 | — | $684.0M | ||
| Q2 25 | — | $620.9M | ||
| Q1 25 | — | $566.7M | ||
| Q4 24 | — | $775.4M | ||
| Q3 24 | — | $756.9M | ||
| Q2 24 | — | $735.4M |
总债务AMPCOR
| 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AMPCOR
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $1.3B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $2.1B | $1.3B | ||
| Q3 24 | $2.1B | $1.3B | ||
| Q2 24 | $2.1B | $1.3B |
总资产AMPCOR
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $2.2B | ||
| Q3 25 | $5.7B | $2.1B | ||
| Q2 25 | $5.7B | $2.0B | ||
| Q1 25 | $5.8B | $1.9B | ||
| Q4 24 | $5.8B | $2.1B | ||
| Q3 24 | $5.8B | $2.0B | ||
| Q2 24 | $5.8B | $2.0B |
负债/权益比AMPCOR
| 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 | $114.9M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $109.2M |
| 自由现金流率自由现金流/营收 | 64.2% | 31.3% |
| 资本支出强度资本支出/营收 | 11.1% | 1.6% |
| 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 | — | $282.2M |
8季度趋势，按日历期对齐
经营现金流AMPCOR
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $114.9M | ||
| Q3 25 | $212.8M | $88.5M | ||
| Q2 25 | $265.2M | $30.8M | ||
| Q1 25 | $198.9M | $66.0M | ||
| Q4 24 | $232.7M | $29.1M | ||
| Q3 24 | $184.9M | $39.3M | ||
| Q2 24 | $215.8M | $58.7M |
自由现金流AMPCOR
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | $109.2M | ||
| Q3 25 | — | $83.1M | ||
| Q2 25 | — | $27.9M | ||
| Q1 25 | — | $62.0M | ||
| Q4 24 | — | $17.4M | ||
| Q3 24 | $184.3M | $35.7M | ||
| Q2 24 | $147.2M | $56.8M |
自由现金流率AMPCOR
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | 31.3% | ||
| Q3 25 | — | 24.5% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 20.0% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | 68.3% | 12.1% | ||
| Q2 24 | 54.6% | 20.0% |
资本支出强度AMPCOR
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 1.6% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | 0.0% | 3.9% | ||
| Q3 24 | 0.2% | 1.2% | ||
| Q2 24 | 25.4% | 0.7% |
现金转化率AMPCOR
| 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× | — |
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% |
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
