vs
Antero Midstream Corp（AM）与Regency Centers（REG）财务数据对比。点击上方公司名可切换其他公司
Regency Centers的季度营收约是Antero Midstream Corp的1.4倍（$404.2M vs $291.1M），Regency Centers净利率更高（50.1% vs 41.5%，领先8.6%），Regency Centers同比增速更快（8.5% vs -7.3%），过去两年Regency Centers的营收复合增速更高（5.4% 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。
Regency Centers是总部位于美国佛罗里达州杰克逊维尔的房地产投资信托基金，也是以超市为核心租户的大型购物中心运营商之一。截至2020年10月21日，公司共持有415处物业，总建筑面积达5600万平方英尺，知名资产包括Serramonte Center及Village District 30%的股权。
AM vs REG — 直观对比
营收规模更大
REG
是对方的1.4倍
$291.1M
营收增速更快
REG
高出15.8%
-7.3%
净利率更高
REG
高出8.6%
41.5%
两年增速更快
REG
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $404.2M |
| 净利润 | $120.7M | $202.5M |
| 毛利率 | — | — |
| 营业利润率 | 60.9% | 71.0% |
| 净利率 | 41.5% | 50.1% |
| 营收同比 | -7.3% | 8.5% |
| 净利润同比 | 2.1% | 134.1% |
| 每股收益（稀释后） | $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AMREG
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $404.2M | ||
| Q3 25 | $294.8M | $387.6M | ||
| Q2 25 | $305.5M | $380.8M | ||
| Q1 25 | $291.1M | $380.9M | ||
| Q4 24 | $287.5M | $372.5M | ||
| Q3 24 | $269.9M | $360.3M | ||
| Q2 24 | $269.8M | $357.3M |
净利润AMREG
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $202.5M | ||
| Q3 25 | $116.0M | $109.4M | ||
| Q2 25 | $124.5M | $106.0M | ||
| Q1 25 | $120.7M | $109.6M | ||
| Q4 24 | $111.2M | $86.5M | ||
| Q3 24 | $99.7M | $101.5M | ||
| Q2 24 | $86.0M | $102.7M |
营业利润率AMREG
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 71.0% | ||
| Q3 25 | 61.2% | 72.7% | ||
| Q2 25 | 61.0% | 73.8% | ||
| Q1 25 | 60.9% | 71.8% | ||
| Q4 24 | 61.8% | 71.1% | ||
| Q3 24 | 60.2% | 72.5% | ||
| Q2 24 | 56.6% | 72.3% |
净利率AMREG
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 50.1% | ||
| Q3 25 | 39.3% | 28.2% | ||
| Q2 25 | 40.8% | 27.8% | ||
| Q1 25 | 41.5% | 28.8% | ||
| Q4 24 | 38.7% | 23.2% | ||
| Q3 24 | 37.0% | 28.2% | ||
| Q2 24 | 31.9% | 28.7% |
每股收益（稀释后）AMREG
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.24 | — | ||
| Q2 25 | $0.26 | — | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $0.21 | — | ||
| Q2 24 | $0.18 | — |
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 | $4.7B |
| 股东权益账面价值 | $2.0B | $6.9B |
| 总资产 | $5.9B | $13.0B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资AMREG
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
总债务AMREG
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $4.7B | ||
| Q3 25 | $3.0B | $4.9B | ||
| Q2 25 | $3.0B | $4.8B | ||
| Q1 25 | $3.1B | $4.6B | ||
| Q4 24 | $3.1B | $4.4B | ||
| Q3 24 | $3.2B | $4.4B | ||
| Q2 24 | $3.2B | $4.4B |
股东权益AMREG
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $6.9B | ||
| Q3 25 | $2.1B | $6.8B | ||
| Q2 25 | $2.1B | $6.7B | ||
| Q1 25 | $2.1B | $6.7B | ||
| Q4 24 | $2.1B | $6.7B | ||
| Q3 24 | $2.1B | $6.8B | ||
| Q2 24 | $2.1B | $6.8B |
总资产AMREG
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $13.0B | ||
| Q3 25 | $5.7B | $13.1B | ||
| Q2 25 | $5.7B | $12.7B | ||
| Q1 25 | $5.8B | $12.6B | ||
| Q4 24 | $5.8B | $12.4B | ||
| Q3 24 | $5.8B | $12.4B | ||
| Q2 24 | $5.8B | $12.4B |
负债/权益比AMREG
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.69× | ||
| Q3 25 | 1.46× | 0.72× | ||
| Q2 25 | 1.45× | 0.72× | ||
| Q1 25 | 1.49× | 0.69× | ||
| Q4 24 | 1.47× | 0.66× | ||
| Q3 24 | 1.49× | 0.65× | ||
| Q2 24 | 1.50× | 0.64× |
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 | $203.9M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | — |
| 自由现金流率自由现金流/营收 | 64.2% | — |
| 资本支出强度资本支出/营收 | 11.1% | — |
| 现金转化率经营现金流/净利润 | 1.65× | 1.01× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AMREG
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $203.9M | ||
| Q3 25 | $212.8M | $218.7M | ||
| Q2 25 | $265.2M | $244.0M | ||
| Q1 25 | $198.9M | $161.0M | ||
| Q4 24 | $232.7M | $191.4M | ||
| Q3 24 | $184.9M | $227.6M | ||
| Q2 24 | $215.8M | $203.5M |
自由现金流AMREG
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $184.3M | — | ||
| Q2 24 | $147.2M | — |
自由现金流率AMREG
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 68.3% | — | ||
| Q2 24 | 54.6% | — |
资本支出强度AMREG
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 25.4% | — |
现金转化率AMREG
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | 1.01× | ||
| Q3 25 | 1.84× | 2.00× | ||
| Q2 25 | 2.13× | 2.30× | ||
| Q1 25 | 1.65× | 1.47× | ||
| Q4 24 | 2.09× | 2.21× | ||
| Q3 24 | 1.85× | 2.24× | ||
| Q2 24 | 2.51× | 1.98× |
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% |
REG
| Shopping Centers | $418.0M | 103% |
| Propertymanagementservices | $4.1M | 1% |
| Assetmanagementservices | $1.7M | 0% |
