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Antero Midstream Corp（AM）与BOSTON BEER CO INC（SAM）财务数据对比。点击上方公司名可切换其他公司
BOSTON BEER CO INC的季度营收约是Antero Midstream Corp的1.3倍（$385.7M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs -5.8%，领先47.3%），BOSTON BEER CO INC同比增速更快（-4.1% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $22.1M），过去两年Antero Midstream Corp的营收复合增速更高（3.9% vs -4.9%）
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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
AM vs SAM — 直观对比
营收规模更大
SAM
是对方的1.3倍
$291.1M
营收增速更快
SAM
高出3.2%
-7.3%
净利率更高
AM
高出47.3%
-5.8%
自由现金流更多
AM
多$164.8M
$22.1M
两年增速更快
AM
近两年复合增速
-4.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $385.7M |
| 净利润 | $120.7M | $-22.5M |
| 毛利率 | — | 43.5% |
| 营业利润率 | 60.9% | -8.6% |
| 净利率 | 41.5% | -5.8% |
| 营收同比 | -7.3% | -4.1% |
| 净利润同比 | 2.1% | 41.9% |
| 每股收益（稀释后） | $0.25 | $-1.97 |
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AMSAM
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $385.7M | ||
| Q3 25 | $294.8M | $537.5M | ||
| Q2 25 | $305.5M | $587.9M | ||
| Q1 25 | $291.1M | $453.9M | ||
| Q4 24 | $287.5M | $402.3M | ||
| Q3 24 | $269.9M | $605.5M | ||
| Q2 24 | $269.8M | $579.1M |
净利润AMSAM
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $-22.5M | ||
| Q3 25 | $116.0M | $46.2M | ||
| Q2 25 | $124.5M | $60.4M | ||
| Q1 25 | $120.7M | $24.4M | ||
| Q4 24 | $111.2M | $-38.8M | ||
| Q3 24 | $99.7M | $33.5M | ||
| Q2 24 | $86.0M | $52.3M |
毛利率AMSAM
| Q1 26 | — | — | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 50.8% | ||
| Q2 25 | — | 49.8% | ||
| Q1 25 | — | 48.3% | ||
| Q4 24 | — | 39.9% | ||
| Q3 24 | — | 46.3% | ||
| Q2 24 | — | 46.0% |
营业利润率AMSAM
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | -8.6% | ||
| Q3 25 | 61.2% | 11.5% | ||
| Q2 25 | 61.0% | 14.0% | ||
| Q1 25 | 60.9% | 7.4% | ||
| Q4 24 | 61.8% | -13.9% | ||
| Q3 24 | 60.2% | 7.6% | ||
| Q2 24 | 56.6% | 12.2% |
净利率AMSAM
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | -5.8% | ||
| Q3 25 | 39.3% | 8.6% | ||
| Q2 25 | 40.8% | 10.3% | ||
| Q1 25 | 41.5% | 5.4% | ||
| Q4 24 | 38.7% | -9.6% | ||
| Q3 24 | 37.0% | 5.5% | ||
| Q2 24 | 31.9% | 9.0% |
每股收益（稀释后）AMSAM
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $-1.97 | ||
| Q3 25 | $0.24 | $4.25 | ||
| Q2 25 | $0.26 | $5.45 | ||
| Q1 25 | $0.25 | $2.16 | ||
| Q4 24 | $0.23 | $-3.23 | ||
| Q3 24 | $0.21 | $2.86 | ||
| Q2 24 | $0.18 | $4.39 |
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 | $223.4M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | $846.3M |
| 总资产 | $5.9B | $1.2B |
| 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AMSAM
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $223.4M | ||
| Q3 25 | — | $250.5M | ||
| Q2 25 | — | $212.4M | ||
| Q1 25 | — | $152.5M | ||
| Q4 24 | — | $211.8M | ||
| Q3 24 | — | $255.6M | ||
| Q2 24 | — | $219.3M |
总债务AMSAM
| Q1 26 | $3.2B | — | ||
| 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AMSAM
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $846.3M | ||
| Q3 25 | $2.1B | $911.0M | ||
| Q2 25 | $2.1B | $912.3M | ||
| Q1 25 | $2.1B | $897.0M | ||
| Q4 24 | $2.1B | $916.2M | ||
| Q3 24 | $2.1B | $1.0B | ||
| Q2 24 | $2.1B | $1.0B |
总资产AMSAM
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $1.2B | ||
| Q3 25 | $5.7B | $1.2B | ||
| Q2 25 | $5.7B | $1.3B | ||
| Q1 25 | $5.8B | $1.2B | ||
| Q4 24 | $5.8B | $1.3B | ||
| Q3 24 | $5.8B | $1.4B | ||
| Q2 24 | $5.8B | $1.4B |
负债/权益比AMSAM
| Q1 26 | 1.63× | — | ||
| 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 | $198.9M | $39.9M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $22.1M |
| 自由现金流率自由现金流/营收 | 64.2% | 5.7% |
| 资本支出强度资本支出/营收 | 11.1% | 4.6% |
| 现金转化率经营现金流/净利润 | 1.65× | — |
| 过去12个月自由现金流最近4个季度 | — | $215.6M |
8季度趋势，按日历期对齐
经营现金流AMSAM
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $39.9M | ||
| Q3 25 | $212.8M | $101.8M | ||
| Q2 25 | $265.2M | $126.5M | ||
| Q1 25 | $198.9M | $1.9M | ||
| Q4 24 | $232.7M | $41.9M | ||
| Q3 24 | $184.9M | $115.9M | ||
| Q2 24 | $215.8M | $96.0M |
自由现金流AMSAM
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | $22.1M | ||
| Q3 25 | — | $89.2M | ||
| Q2 25 | — | $112.2M | ||
| Q1 25 | — | $-8.0M | ||
| Q4 24 | — | $18.4M | ||
| Q3 24 | $184.3M | $99.2M | ||
| Q2 24 | $147.2M | $75.6M |
自由现金流率AMSAM
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | 5.7% | ||
| Q3 25 | — | 16.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | -1.8% | ||
| Q4 24 | — | 4.6% | ||
| Q3 24 | 68.3% | 16.4% | ||
| Q2 24 | 54.6% | 13.1% |
资本支出强度AMSAM
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | 0.0% | 5.8% | ||
| Q3 24 | 0.2% | 2.8% | ||
| Q2 24 | 25.4% | 3.5% |
现金转化率AMSAM
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | 2.21× | ||
| Q2 25 | 2.13× | 2.09× | ||
| Q1 25 | 1.65× | 0.08× | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | 3.46× | ||
| Q2 24 | 2.51× | 1.83× |
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% |
SAM
暂无分部数据
