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Antero Midstream Corp（AM）与通用动力（PLOW）财务数据对比。点击上方公司名可切换其他公司
Antero Midstream Corp的季度营收约是通用动力的1.6倍（$291.1M vs $184.5M），Antero Midstream Corp净利率更高（41.5% vs 7.0%，领先34.5%），通用动力同比增速更快（28.6% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $92.8M），过去两年通用动力的营收复合增速更高（38.9% 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。
通用动力公司是总部位于美国弗吉尼亚州雷斯顿的工业与科技企业，核心业务是研发制造各类先进军用装备，产品包括核潜艇、主战坦克、装甲战车等，同时也生产民用湾流公务机，并提供信息技术服务，是美国联邦政府前五大国防承包商之一。
AM vs PLOW — 直观对比
营收规模更大
AM
是对方的1.6倍
$184.5M
营收增速更快
PLOW
高出35.9%
-7.3%
净利率更高
AM
高出34.5%
7.0%
自由现金流更多
AM
多$94.0M
$92.8M
两年增速更快
PLOW
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $184.5M |
| 净利润 | $120.7M | $12.8M |
| 毛利率 | — | 26.1% |
| 营业利润率 | 60.9% | 10.5% |
| 净利率 | 41.5% | 7.0% |
| 营收同比 | -7.3% | 28.6% |
| 净利润同比 | 2.1% | 62.3% |
| 每股收益（稀释后） | $0.25 | $0.54 |
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AMPLOW
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $184.5M | ||
| Q3 25 | $294.8M | $162.1M | ||
| Q2 25 | $305.5M | $194.3M | ||
| Q1 25 | $291.1M | $115.1M | ||
| Q4 24 | $287.5M | $143.5M | ||
| Q3 24 | $269.9M | $129.4M | ||
| Q2 24 | $269.8M | $199.9M |
净利润AMPLOW
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $12.8M | ||
| Q3 25 | $116.0M | $8.0M | ||
| Q2 25 | $124.5M | $26.0M | ||
| Q1 25 | $120.7M | $148.0K | ||
| Q4 24 | $111.2M | $7.9M | ||
| Q3 24 | $99.7M | $32.3M | ||
| Q2 24 | $86.0M | $24.3M |
毛利率AMPLOW
| Q1 26 | — | — | ||
| Q4 25 | — | 26.1% | ||
| Q3 25 | — | 23.5% | ||
| Q2 25 | — | 31.0% | ||
| Q1 25 | — | 24.5% | ||
| Q4 24 | — | 24.9% | ||
| Q3 24 | — | 23.9% | ||
| Q2 24 | — | 30.7% |
营业利润率AMPLOW
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 10.5% | ||
| Q3 25 | 61.2% | 8.7% | ||
| Q2 25 | 61.0% | 19.0% | ||
| Q1 25 | 60.9% | 2.8% | ||
| Q4 24 | 61.8% | 9.0% | ||
| Q3 24 | 60.2% | 35.4% | ||
| Q2 24 | 56.6% | 18.2% |
净利率AMPLOW
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 7.0% | ||
| Q3 25 | 39.3% | 4.9% | ||
| Q2 25 | 40.8% | 13.4% | ||
| Q1 25 | 41.5% | 0.1% | ||
| Q4 24 | 38.7% | 5.5% | ||
| Q3 24 | 37.0% | 24.9% | ||
| Q2 24 | 31.9% | 12.2% |
每股收益（稀释后）AMPLOW
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $0.54 | ||
| Q3 25 | $0.24 | $0.33 | ||
| Q2 25 | $0.26 | $1.09 | ||
| Q1 25 | $0.25 | $0.00 | ||
| Q4 24 | $0.23 | $0.35 | ||
| Q3 24 | $0.21 | $1.36 | ||
| Q2 24 | $0.18 | $1.02 |
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 | — |
| 总债务越低越好 | $3.2B | $144.0M |
| 股东权益账面价值 | $2.0B | $281.4M |
| 总资产 | $5.9B | $626.7M |
| 负债/权益比越低杠杆越低 | 1.63× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资AMPLOW
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总债务AMPLOW
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $144.0M | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | $147.5M | ||
| Q3 24 | $3.2B | — | ||
| Q2 24 | $3.2B | — |
股东权益AMPLOW
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $281.4M | ||
| Q3 25 | $2.1B | $275.3M | ||
| Q2 25 | $2.1B | $273.3M | ||
| Q1 25 | $2.1B | $258.9M | ||
| Q4 24 | $2.1B | $264.2M | ||
| Q3 24 | $2.1B | $260.8M | ||
| Q2 24 | $2.1B | $236.7M |
总资产AMPLOW
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $626.7M | ||
| Q3 25 | $5.7B | $694.9M | ||
| Q2 25 | $5.7B | $671.5M | ||
| Q1 25 | $5.8B | $621.0M | ||
| Q4 24 | $5.8B | $590.0M | ||
| Q3 24 | $5.8B | $665.6M | ||
| Q2 24 | $5.8B | $617.0M |
负债/权益比AMPLOW
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.51× | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | 1.47× | 0.56× | ||
| 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 | $95.9M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $92.8M |
| 自由现金流率自由现金流/营收 | 64.2% | 50.3% |
| 资本支出强度资本支出/营收 | 11.1% | 1.7% |
| 现金转化率经营现金流/净利润 | 1.65× | 7.47× |
| 过去12个月自由现金流最近4个季度 | — | $63.6M |
8季度趋势，按日历期对齐
经营现金流AMPLOW
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $95.9M | ||
| Q3 25 | $212.8M | $-8.5M | ||
| Q2 25 | $265.2M | $-11.4M | ||
| Q1 25 | $198.9M | $-1.3M | ||
| Q4 24 | $232.7M | $74.4M | ||
| Q3 24 | $184.9M | $-14.2M | ||
| Q2 24 | $215.8M | $2.5M |
自由现金流AMPLOW
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | $92.8M | ||
| Q3 25 | — | $-11.4M | ||
| Q2 25 | — | $-14.3M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $70.2M | ||
| Q3 24 | $184.3M | $-15.2M | ||
| Q2 24 | $147.2M | $836.0K |
自由现金流率AMPLOW
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | 50.3% | ||
| Q3 25 | — | -7.1% | ||
| Q2 25 | — | -7.4% | ||
| Q1 25 | — | -3.0% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | 68.3% | -11.8% | ||
| Q2 24 | 54.6% | 0.4% |
资本支出强度AMPLOW
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | 0.0% | 2.9% | ||
| Q3 24 | 0.2% | 0.8% | ||
| Q2 24 | 25.4% | 0.8% |
现金转化率AMPLOW
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | 7.47× | ||
| Q3 25 | 1.84× | -1.07× | ||
| Q2 25 | 2.13× | -0.44× | ||
| Q1 25 | 1.65× | -9.03× | ||
| Q4 24 | 2.09× | 9.41× | ||
| Q3 24 | 1.85× | -0.44× | ||
| Q2 24 | 2.51× | 0.10× |
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% |
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
