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Antero Midstream Corp（AM）与RAMBUS INC（RMBS）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RAMBUS INC的1.6倍（$297.0M vs $180.2M），RAMBUS INC净利率更高（33.2% vs 17.5%，领先15.8%），RAMBUS INC同比增速更快（8.1% vs 3.3%），过去两年RAMBUS INC的营收复合增速更高（16.8% 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。
Rambus Inc.是创立于1990年的美国科技企业，专注于芯片接口技术与架构的设计、研发及授权，相关技术广泛应用于各类数字电子产品。公司因发明RDRAM内存技术而闻名，在知识产权领域拥有深厚积累。
AM vs RMBS — 直观对比
营收规模更大
AM
是对方的1.6倍
$180.2M
营收增速更快
RMBS
高出4.8%
3.3%
净利率更高
RMBS
高出15.8%
17.5%
两年增速更快
RMBS
近两年复合增速
3.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $297.0M | $180.2M |
| 净利润 | $51.9M | $59.9M |
| 毛利率 | — | 79.7% |
| 营业利润率 | 33.8% | 34.3% |
| 净利率 | 17.5% | 33.2% |
| 营收同比 | 3.3% | 8.1% |
| 净利润同比 | -53.3% | -7.3% |
| 每股收益（稀释后） | $0.11 | $0.55 |
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AMRMBS
| Q1 26 | — | $180.2M | ||
| Q4 25 | $297.0M | $190.2M | ||
| Q3 25 | $294.8M | $178.5M | ||
| Q2 25 | $305.5M | $172.2M | ||
| Q1 25 | $291.1M | $166.7M | ||
| Q4 24 | $287.5M | $161.1M | ||
| Q3 24 | $269.9M | $145.5M | ||
| Q2 24 | $269.8M | $132.1M |
净利润AMRMBS
| Q1 26 | — | $59.9M | ||
| Q4 25 | $51.9M | $63.8M | ||
| Q3 25 | $116.0M | $48.4M | ||
| Q2 25 | $124.5M | $57.9M | ||
| Q1 25 | $120.7M | $60.3M | ||
| Q4 24 | $111.2M | $62.2M | ||
| Q3 24 | $99.7M | $48.7M | ||
| Q2 24 | $86.0M | $36.1M |
毛利率AMRMBS
| Q1 26 | — | 79.7% | ||
| Q4 25 | — | 78.9% | ||
| Q3 25 | — | 79.5% | ||
| Q2 25 | — | 79.8% | ||
| Q1 25 | — | 80.3% | ||
| Q4 24 | — | 80.4% | ||
| Q3 24 | — | 80.7% | ||
| Q2 24 | — | 79.7% |
营业利润率AMRMBS
| Q1 26 | — | 34.3% | ||
| Q4 25 | 33.8% | 37.2% | ||
| Q3 25 | 61.2% | 35.4% | ||
| Q2 25 | 61.0% | 36.6% | ||
| Q1 25 | 60.9% | 37.9% | ||
| Q4 24 | 61.8% | 35.9% | ||
| Q3 24 | 60.2% | 37.6% | ||
| Q2 24 | 56.6% | 30.5% |
净利率AMRMBS
| Q1 26 | — | 33.2% | ||
| Q4 25 | 17.5% | 33.6% | ||
| Q3 25 | 39.3% | 27.1% | ||
| Q2 25 | 40.8% | 33.6% | ||
| Q1 25 | 41.5% | 36.2% | ||
| Q4 24 | 38.7% | 38.6% | ||
| Q3 24 | 37.0% | 33.4% | ||
| Q2 24 | 31.9% | 27.3% |
每股收益（稀释后）AMRMBS
| Q1 26 | — | $0.55 | ||
| Q4 25 | $0.11 | $0.58 | ||
| Q3 25 | $0.24 | $0.44 | ||
| Q2 25 | $0.26 | $0.53 | ||
| Q1 25 | $0.25 | $0.56 | ||
| Q4 24 | $0.23 | $0.57 | ||
| Q3 24 | $0.21 | $0.45 | ||
| Q2 24 | $0.18 | $0.33 |
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 | $134.3M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | — |
| 总资产 | $5.9B | $1.5B |
| 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AMRMBS
| Q1 26 | — | $134.3M | ||
| Q4 25 | $180.4M | $182.8M | ||
| Q3 25 | — | $79.2M | ||
| Q2 25 | — | $87.8M | ||
| Q1 25 | — | $132.2M | ||
| Q4 24 | — | $99.8M | ||
| Q3 24 | — | $114.0M | ||
| Q2 24 | — | $124.6M |
总债务AMRMBS
| 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AMRMBS
| Q1 26 | — | — | ||
| Q4 25 | $2.0B | $1.4B | ||
| Q3 25 | $2.1B | $1.3B | ||
| Q2 25 | $2.1B | $1.2B | ||
| Q1 25 | $2.1B | $1.2B | ||
| Q4 24 | $2.1B | $1.1B | ||
| Q3 24 | $2.1B | $1.0B | ||
| Q2 24 | $2.1B | $1.0B |
总资产AMRMBS
| Q1 26 | — | $1.5B | ||
| Q4 25 | $5.9B | $1.5B | ||
| Q3 25 | $5.7B | $1.4B | ||
| Q2 25 | $5.7B | $1.5B | ||
| Q1 25 | $5.8B | $1.4B | ||
| Q4 24 | $5.8B | $1.3B | ||
| Q3 24 | $5.8B | $1.3B | ||
| Q2 24 | $5.8B | $1.3B |
负债/权益比AMRMBS
| 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 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流AMRMBS
| Q1 26 | — | — | ||
| Q4 25 | $255.5M | $99.8M | ||
| Q3 25 | $212.8M | $88.4M | ||
| Q2 25 | $265.2M | $94.4M | ||
| Q1 25 | $198.9M | $77.4M | ||
| Q4 24 | $232.7M | $59.0M | ||
| Q3 24 | $184.9M | $62.1M | ||
| Q2 24 | $215.8M | $70.4M |
自由现金流AMRMBS
| Q1 26 | — | — | ||
| Q4 25 | — | $93.3M | ||
| Q3 25 | — | $82.5M | ||
| Q2 25 | — | $87.9M | ||
| Q1 25 | — | $69.5M | ||
| Q4 24 | — | $52.5M | ||
| Q3 24 | $184.3M | $52.2M | ||
| Q2 24 | $147.2M | $59.1M |
自由现金流率AMRMBS
| Q1 26 | — | — | ||
| Q4 25 | — | 49.0% | ||
| Q3 25 | — | 46.2% | ||
| Q2 25 | — | 51.0% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | — | 32.6% | ||
| Q3 24 | 68.3% | 35.9% | ||
| Q2 24 | 54.6% | 44.7% |
资本支出强度AMRMBS
| Q1 26 | — | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 3.3% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | 0.0% | 4.0% | ||
| Q3 24 | 0.2% | 6.8% | ||
| Q2 24 | 25.4% | 8.6% |
现金转化率AMRMBS
| Q1 26 | — | — | ||
| Q4 25 | 4.92× | 1.56× | ||
| Q3 25 | 1.84× | 1.83× | ||
| Q2 25 | 2.13× | 1.63× | ||
| Q1 25 | 1.65× | 1.28× | ||
| Q4 24 | 2.09× | 0.95× | ||
| Q3 24 | 1.85× | 1.28× | ||
| Q2 24 | 2.51× | 1.95× |
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% |
RMBS
| Product revenue | $88.0M | 49% |
| Royalties | $69.6M | 39% |
| Contract and other revenue | $22.6M | 13% |
