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Antero Midstream Corp（AM）与PEGASYSTEMS INC（PEGA）财务数据对比。点击上方公司名可切换其他公司
PEGASYSTEMS INC的季度营收约是Antero Midstream Corp的1.4倍（$430.0M vs $297.0M），Antero Midstream Corp净利率更高（17.5% vs 7.6%，领先9.9%），Antero Midstream Corp同比增速更快（3.3% vs -9.6%），过去两年PEGASYSTEMS INC的营收复合增速更高（10.7% vs 3.2%）
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。
Pegasystems Inc.（简称Pega）是1983年成立的全球软件企业，总部位于美国马萨诸塞州沃尔瑟姆，1996年于纳斯达克上市，股票代码PEGA。公司主打低代码平台，面向企业客户提供工作流自动化、生成式AI驱动决策等相关解决方案。
AM vs PEGA — 直观对比
营收规模更大
PEGA
是对方的1.4倍
$297.0M
营收增速更快
AM
高出12.9%
-9.6%
净利率更高
AM
高出9.9%
7.6%
两年增速更快
PEGA
近两年复合增速
3.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $297.0M | $430.0M |
| 净利润 | $51.9M | $32.8M |
| 毛利率 | — | 75.2% |
| 营业利润率 | 33.8% | 8.6% |
| 净利率 | 17.5% | 7.6% |
| 营收同比 | 3.3% | -9.6% |
| 净利润同比 | -53.3% | -61.6% |
| 每股收益（稀释后） | $0.11 | $0.18 |
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AMPEGA
| Q1 26 | — | $430.0M | ||
| Q4 25 | $297.0M | $504.3M | ||
| Q3 25 | $294.8M | $381.4M | ||
| Q2 25 | $305.5M | $384.5M | ||
| Q1 25 | $291.1M | $475.6M | ||
| Q4 24 | $287.5M | $490.8M | ||
| Q3 24 | $269.9M | $325.1M | ||
| Q2 24 | $269.8M | $351.2M |
净利润AMPEGA
| Q1 26 | — | $32.8M | ||
| Q4 25 | $51.9M | $234.6M | ||
| Q3 25 | $116.0M | $43.4M | ||
| Q2 25 | $124.5M | $30.1M | ||
| Q1 25 | $120.7M | $85.4M | ||
| Q4 24 | $111.2M | $119.1M | ||
| Q3 24 | $99.7M | $-14.4M | ||
| Q2 24 | $86.0M | $6.6M |
毛利率AMPEGA
| Q1 26 | — | 75.2% | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 71.5% | ||
| Q1 25 | — | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | — | 72.4% |
营业利润率AMPEGA
| Q1 26 | — | 8.6% | ||
| Q4 25 | 33.8% | 20.7% | ||
| Q3 25 | 61.2% | 3.8% | ||
| Q2 25 | 61.0% | 4.5% | ||
| Q1 25 | 60.9% | 26.7% | ||
| Q4 24 | 61.8% | 29.1% | ||
| Q3 24 | 60.2% | -3.6% | ||
| Q2 24 | 56.6% | 3.7% |
净利率AMPEGA
| Q1 26 | — | 7.6% | ||
| Q4 25 | 17.5% | 46.5% | ||
| Q3 25 | 39.3% | 11.4% | ||
| Q2 25 | 40.8% | 7.8% | ||
| Q1 25 | 41.5% | 18.0% | ||
| Q4 24 | 38.7% | 24.3% | ||
| Q3 24 | 37.0% | -4.4% | ||
| Q2 24 | 31.9% | 1.9% |
每股收益（稀释后）AMPEGA
| Q1 26 | — | $0.18 | ||
| Q4 25 | $0.11 | $0.81 | ||
| Q3 25 | $0.24 | $0.24 | ||
| Q2 25 | $0.26 | $0.17 | ||
| Q1 25 | $0.25 | $0.91 | ||
| Q4 24 | $0.23 | $1.35 | ||
| Q3 24 | $0.21 | $-0.17 | ||
| Q2 24 | $0.18 | $0.07 |
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 | $270.0M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | $705.9M |
| 总资产 | $5.9B | $1.6B |
| 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AMPEGA
| Q1 26 | — | $270.0M | ||
| Q4 25 | $180.4M | $425.8M | ||
| Q3 25 | — | $351.4M | ||
| Q2 25 | — | $411.6M | ||
| Q1 25 | — | $371.7M | ||
| Q4 24 | — | $740.0M | ||
| Q3 24 | — | $703.0M | ||
| Q2 24 | — | $665.1M |
总债务AMPEGA
| Q1 26 | — | — | ||
| 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AMPEGA
| Q1 26 | — | $705.9M | ||
| Q4 25 | $2.0B | $787.4M | ||
| Q3 25 | $2.1B | $596.8M | ||
| Q2 25 | $2.1B | $624.5M | ||
| Q1 25 | $2.1B | $611.3M | ||
| Q4 24 | $2.1B | $585.5M | ||
| Q3 24 | $2.1B | $473.0M | ||
| Q2 24 | $2.1B | $435.4M |
总资产AMPEGA
| Q1 26 | — | $1.6B | ||
| Q4 25 | $5.9B | $1.6B | ||
| Q3 25 | $5.7B | $1.3B | ||
| Q2 25 | $5.7B | $1.3B | ||
| Q1 25 | $5.8B | $1.3B | ||
| Q4 24 | $5.8B | $1.8B | ||
| Q3 24 | $5.8B | $1.6B | ||
| Q2 24 | $5.8B | $1.5B |
负债/权益比AMPEGA
| Q1 26 | — | — | ||
| 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 | $255.5M | — |
| 自由现金流经营现金流 - 资本支出 | — | $206.5M |
| 自由现金流率自由现金流/营收 | — | 48.0% |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 4.92× | — |
| 过去12个月自由现金流最近4个季度 | — | $494.9M |
8季度趋势，按日历期对齐
经营现金流AMPEGA
| Q1 26 | — | — | ||
| Q4 25 | $255.5M | $158.4M | ||
| Q3 25 | $212.8M | $56.3M | ||
| Q2 25 | $265.2M | $86.3M | ||
| Q1 25 | $198.9M | $204.2M | ||
| Q4 24 | $232.7M | $95.2M | ||
| Q3 24 | $184.9M | $30.5M | ||
| Q2 24 | $215.8M | $40.1M |
自由现金流AMPEGA
| Q1 26 | — | $206.5M | ||
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $51.8M | ||
| Q2 25 | — | $84.1M | ||
| Q1 25 | — | $202.3M | ||
| Q4 24 | — | $92.4M | ||
| Q3 24 | $184.3M | $27.4M | ||
| Q2 24 | $147.2M | $38.8M |
自由现金流率AMPEGA
| Q1 26 | — | 48.0% | ||
| Q4 25 | — | 30.2% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | — | 21.9% | ||
| Q1 25 | — | 42.5% | ||
| Q4 24 | — | 18.8% | ||
| Q3 24 | 68.3% | 8.4% | ||
| Q2 24 | 54.6% | 11.1% |
资本支出强度AMPEGA
| Q1 26 | — | — | ||
| Q4 25 | — | 1.2% | ||
| Q3 25 | — | 1.2% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 0.0% | 0.6% | ||
| Q3 24 | 0.2% | 0.9% | ||
| Q2 24 | 25.4% | 0.4% |
现金转化率AMPEGA
| Q1 26 | — | — | ||
| Q4 25 | 4.92× | 0.68× | ||
| Q3 25 | 1.84× | 1.30× | ||
| Q2 25 | 2.13× | 2.87× | ||
| Q1 25 | 1.65× | 2.39× | ||
| Q4 24 | 2.09× | 0.80× | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 2.51× | 6.06× |
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 Low Pressure | $114.2M | 38% |
| Natural Gas Water Handling And Treatment Affiliate | $63.2M | 21% |
| Water Handling | $55.7M | 19% |
| Fresh Water Delivery | $37.2M | 13% |
| Other Fluid Handling | $26.9M | 9% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
