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Antero Midstream Corp（AM）与福尼克斯（PLAB）财务数据对比。点击上方公司名可切换其他公司
Antero Midstream Corp的季度营收约是福尼克斯的1.4倍（$291.1M vs $210.4M），Antero Midstream Corp净利率更高（41.5% vs 10.9%，领先30.6%），福尼克斯同比增速更快（-5.5% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $25.2M），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。
福尼克斯是美国半导体光掩模制造商，2009年时位居全球第三大光掩模供应商，同时也是电子束产业倡议组织的成员，专注于为半导体行业提供关键的掩模产品，支撑芯片制造环节的图形转移需求。
AM vs PLAB — 直观对比
营收规模更大
AM
是对方的1.4倍
$210.4M
营收增速更快
PLAB
高出1.9%
-7.3%
净利率更高
AM
高出30.6%
10.9%
自由现金流更多
AM
多$161.7M
$25.2M
两年增速更快
AM
近两年复合增速
-3.8%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $210.4M |
| 净利润 | $120.7M | $22.9M |
| 毛利率 | — | 33.7% |
| 营业利润率 | 60.9% | 22.9% |
| 净利率 | 41.5% | 10.9% |
| 营收同比 | -7.3% | -5.5% |
| 净利润同比 | 2.1% | -32.4% |
| 每股收益（稀释后） | $0.25 | $0.39 |
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AMPLAB
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | — | ||
| Q3 25 | $294.8M | $210.4M | ||
| Q2 25 | $305.5M | $211.0M | ||
| Q1 25 | $291.1M | $212.1M | ||
| Q4 24 | $287.5M | $222.6M | ||
| Q3 24 | $269.9M | $211.0M | ||
| Q2 24 | $269.8M | $217.0M |
净利润AMPLAB
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | — | ||
| Q3 25 | $116.0M | $22.9M | ||
| Q2 25 | $124.5M | $8.9M | ||
| Q1 25 | $120.7M | $42.9M | ||
| Q4 24 | $111.2M | $33.9M | ||
| Q3 24 | $99.7M | $34.4M | ||
| Q2 24 | $86.0M | $36.3M |
毛利率AMPLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 33.7% | ||
| Q2 25 | — | 36.9% | ||
| Q1 25 | — | 35.6% | ||
| Q4 24 | — | 37.0% | ||
| Q3 24 | — | 35.6% | ||
| Q2 24 | — | 36.5% |
营业利润率AMPLAB
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | — | ||
| Q3 25 | 61.2% | 22.9% | ||
| Q2 25 | 61.0% | 26.4% | ||
| Q1 25 | 60.9% | 24.6% | ||
| Q4 24 | 61.8% | 25.1% | ||
| Q3 24 | 60.2% | 24.7% | ||
| Q2 24 | 56.6% | 25.8% |
净利率AMPLAB
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | — | ||
| Q3 25 | 39.3% | 10.9% | ||
| Q2 25 | 40.8% | 4.2% | ||
| Q1 25 | 41.5% | 20.2% | ||
| Q4 24 | 38.7% | 15.2% | ||
| Q3 24 | 37.0% | 16.3% | ||
| Q2 24 | 31.9% | 16.7% |
每股收益（稀释后）AMPLAB
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.24 | $0.39 | ||
| Q2 25 | $0.26 | $0.15 | ||
| Q1 25 | $0.25 | $0.68 | ||
| Q4 24 | $0.23 | $0.54 | ||
| Q3 24 | $0.21 | $0.55 | ||
| Q2 24 | $0.18 | $0.58 |
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 | $575.8M |
| 总债务越低越好 | $3.2B | $16.0K |
| 股东权益账面价值 | $2.0B | $1.1B |
| 总资产 | $5.9B | $1.8B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资AMPLAB
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | — | ||
| Q3 25 | — | $575.8M | ||
| Q2 25 | — | $558.4M | ||
| Q1 25 | — | $642.2M | ||
| Q4 24 | — | $640.7M | ||
| Q3 24 | — | $606.4M | ||
| Q2 24 | — | $559.9M |
总债务AMPLAB
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | $16.0K | ||
| Q2 25 | $3.0B | $19.0K | ||
| Q1 25 | $3.1B | $21.0K | ||
| Q4 24 | $3.1B | $25.0K | ||
| Q3 24 | $3.2B | $28.0K | ||
| Q2 24 | $3.2B | $2.5M |
股东权益AMPLAB
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.1B | $1.1B | ||
| Q2 25 | $2.1B | $1.1B | ||
| Q1 25 | $2.1B | $1.1B | ||
| Q4 24 | $2.1B | $1.1B | ||
| Q3 24 | $2.1B | $1.1B | ||
| Q2 24 | $2.1B | $1.0B |
总资产AMPLAB
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | — | ||
| Q3 25 | $5.7B | $1.8B | ||
| Q2 25 | $5.7B | $1.7B | ||
| Q1 25 | $5.8B | $1.7B | ||
| Q4 24 | $5.8B | $1.7B | ||
| Q3 24 | $5.8B | $1.6B | ||
| Q2 24 | $5.8B | $1.6B |
负债/权益比AMPLAB
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | 0.00× | ||
| Q2 25 | 1.45× | 0.00× | ||
| Q1 25 | 1.49× | 0.00× | ||
| Q4 24 | 1.47× | 0.00× | ||
| Q3 24 | 1.49× | 0.00× | ||
| Q2 24 | 1.50× | 0.00× |
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 | $50.1M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $25.2M |
| 自由现金流率自由现金流/营收 | 64.2% | 12.0% |
| 资本支出强度资本支出/营收 | 11.1% | 11.8% |
| 现金转化率经营现金流/净利润 | 1.65× | 2.19× |
| 过去12个月自由现金流最近4个季度 | — | $64.5M |
8季度趋势，按日历期对齐
经营现金流AMPLAB
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | — | ||
| Q3 25 | $212.8M | $50.1M | ||
| Q2 25 | $265.2M | $31.5M | ||
| Q1 25 | $198.9M | $78.5M | ||
| Q4 24 | $232.7M | $68.4M | ||
| Q3 24 | $184.9M | $75.1M | ||
| Q2 24 | $215.8M | $76.5M |
自由现金流AMPLAB
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $25.2M | ||
| Q2 25 | — | $-29.1M | ||
| Q1 25 | — | $43.3M | ||
| Q4 24 | — | $25.2M | ||
| Q3 24 | $184.3M | $50.7M | ||
| Q2 24 | $147.2M | $56.5M |
自由现金流率AMPLAB
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | -13.8% | ||
| Q1 25 | — | 20.4% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | 68.3% | 24.0% | ||
| Q2 24 | 54.6% | 26.0% |
资本支出强度AMPLAB
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 11.8% | ||
| Q2 25 | — | 28.7% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | 0.0% | 19.4% | ||
| Q3 24 | 0.2% | 11.6% | ||
| Q2 24 | 25.4% | 9.2% |
现金转化率AMPLAB
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | 2.19× | ||
| Q2 25 | 2.13× | 3.55× | ||
| Q1 25 | 1.65× | 1.83× | ||
| Q4 24 | 2.09× | 2.02× | ||
| Q3 24 | 1.85× | 2.18× | ||
| Q2 24 | 2.51× | 2.11× |
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% |
PLAB
| High End Integrated Circuits | $53.6M | 25% |
| High End Flat Panel Displays | $53.5M | 25% |
| KR | $43.7M | 21% |
| Other | $42.1M | 20% |
| Mainstream Flat Panel Displays | $9.1M | 4% |
| Transferred At Point In Time | $8.4M | 4% |
