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Antero Midstream Corp（AM）与SPORTSMAN'S WAREHOUSE HOLDINGS, INC.（SPWH）财务数据对比。点击上方公司名可切换其他公司
SPORTSMAN'S WAREHOUSE HOLDINGS, INC.的季度营收约是Antero Midstream Corp的1.1倍（$331.3M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs 0.0%，领先41.5%），SPORTSMAN'S WAREHOUSE HOLDINGS, INC.同比增速更快（2.2% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $8.7M），过去两年Antero Midstream Corp的营收复合增速更高（3.9% vs -5.4%）
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。
运动员仓库控股（Sportsman's Warehouse）是美国户外体育用品零售商，门店遍布全美29个州，主要面向狩猎、射击、露营、垂钓等各类户外休闲运动爱好者，销售户外服饰、鞋履及专业运动装备。
AM vs SPWH — 直观对比
营收规模更大
SPWH
是对方的1.1倍
$291.1M
营收增速更快
SPWH
高出9.5%
-7.3%
净利率更高
AM
高出41.5%
0.0%
自由现金流更多
AM
多$178.2M
$8.7M
两年增速更快
AM
近两年复合增速
-5.4%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $331.3M |
| 净利润 | $120.7M | $8.0K |
| 毛利率 | — | 32.8% |
| 营业利润率 | 60.9% | 1.3% |
| 净利率 | 41.5% | 0.0% |
| 营收同比 | -7.3% | 2.2% |
| 净利润同比 | 2.1% | -97.8% |
| 每股收益（稀释后） | $0.25 | $0.00 |
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AMSPWH
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $331.3M | ||
| Q3 25 | $294.8M | $293.9M | ||
| Q2 25 | $305.5M | $249.1M | ||
| Q1 25 | $291.1M | $340.4M | ||
| Q4 24 | $287.5M | $324.3M | ||
| Q3 24 | $269.9M | $288.7M | ||
| Q2 24 | $269.8M | $244.2M |
净利润AMSPWH
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $8.0K | ||
| Q3 25 | $116.0M | $-7.1M | ||
| Q2 25 | $124.5M | $-21.3M | ||
| Q1 25 | $120.7M | $-8.7M | ||
| Q4 24 | $111.2M | $-364.0K | ||
| Q3 24 | $99.7M | $-5.9M | ||
| Q2 24 | $86.0M | $-18.1M |
毛利率AMSPWH
| Q1 26 | — | — | ||
| Q4 25 | — | 32.8% | ||
| Q3 25 | — | 32.0% | ||
| Q2 25 | — | 30.4% | ||
| Q1 25 | — | 30.4% | ||
| Q4 24 | — | 31.8% | ||
| Q3 24 | — | 31.2% | ||
| Q2 24 | — | 30.2% |
营业利润率AMSPWH
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 1.3% | ||
| Q3 25 | 61.2% | -1.1% | ||
| Q2 25 | 61.0% | -7.9% | ||
| Q1 25 | 60.9% | 1.1% | ||
| Q4 24 | 61.8% | 1.0% | ||
| Q3 24 | 60.2% | -1.5% | ||
| Q2 24 | 56.6% | -8.4% |
净利率AMSPWH
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 0.0% | ||
| Q3 25 | 39.3% | -2.4% | ||
| Q2 25 | 40.8% | -8.5% | ||
| Q1 25 | 41.5% | -2.6% | ||
| Q4 24 | 38.7% | -0.1% | ||
| Q3 24 | 37.0% | -2.0% | ||
| Q2 24 | 31.9% | -7.4% |
每股收益（稀释后）AMSPWH
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $0.00 | ||
| Q3 25 | $0.24 | $-0.18 | ||
| Q2 25 | $0.26 | $-0.56 | ||
| Q1 25 | $0.25 | $-0.22 | ||
| Q4 24 | $0.23 | $-0.01 | ||
| Q3 24 | $0.21 | $-0.16 | ||
| Q2 24 | $0.18 | $-0.48 |
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 | $2.2M |
| 总债务越低越好 | $3.2B | $44.0M |
| 股东权益账面价值 | $2.0B | $209.5M |
| 总资产 | $5.9B | $913.9M |
| 负债/权益比越低杠杆越低 | 1.63× | 0.21× |
8季度趋势，按日历期对齐
现金及短期投资AMSPWH
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $2.2M | ||
| Q3 25 | — | $1.8M | ||
| Q2 25 | — | $3.6M | ||
| Q1 25 | — | $2.8M | ||
| Q4 24 | — | $2.7M | ||
| Q3 24 | — | $2.6M | ||
| Q2 24 | — | $2.2M |
总债务AMSPWH
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $44.0M | ||
| Q3 25 | $3.0B | $43.9M | ||
| Q2 25 | $3.0B | $24.1M | ||
| Q1 25 | $3.1B | $24.1M | ||
| Q4 24 | $3.1B | $24.0M | ||
| Q3 24 | $3.2B | $24.0M | ||
| Q2 24 | $3.2B | — |
股东权益AMSPWH
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $209.5M | ||
| Q3 25 | $2.1B | $208.9M | ||
| Q2 25 | $2.1B | $215.1M | ||
| Q1 25 | $2.1B | $235.7M | ||
| Q4 24 | $2.1B | $243.6M | ||
| Q3 24 | $2.1B | $243.0M | ||
| Q2 24 | $2.1B | $247.5M |
总资产AMSPWH
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $913.9M | ||
| Q3 25 | $5.7B | $948.9M | ||
| Q2 25 | $5.7B | $929.7M | ||
| Q1 25 | $5.8B | $852.1M | ||
| Q4 24 | $5.8B | $967.7M | ||
| Q3 24 | $5.8B | $901.9M | ||
| Q2 24 | $5.8B | $930.4M |
负债/权益比AMSPWH
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.21× | ||
| Q3 25 | 1.46× | 0.21× | ||
| Q2 25 | 1.45× | 0.11× | ||
| Q1 25 | 1.49× | 0.10× | ||
| Q4 24 | 1.47× | 0.10× | ||
| Q3 24 | 1.49× | 0.10× | ||
| 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 | $16.3M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $8.7M |
| 自由现金流率自由现金流/营收 | 64.2% | 2.6% |
| 资本支出强度资本支出/营收 | 11.1% | 2.3% |
| 现金转化率经营现金流/净利润 | 1.65× | 2038.00× |
| 过去12个月自由现金流最近4个季度 | — | $-39.7M |
8季度趋势，按日历期对齐
经营现金流AMSPWH
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $16.3M | ||
| Q3 25 | $212.8M | $-26.6M | ||
| Q2 25 | $265.2M | $-60.2M | ||
| Q1 25 | $198.9M | $52.8M | ||
| Q4 24 | $232.7M | $-2.5M | ||
| Q3 24 | $184.9M | $18.5M | ||
| Q2 24 | $215.8M | $-34.6M |
自由现金流AMSPWH
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | $8.7M | ||
| Q3 25 | — | $-33.9M | ||
| Q2 25 | — | $-64.0M | ||
| Q1 25 | — | $49.6M | ||
| Q4 24 | — | $-6.2M | ||
| Q3 24 | $184.3M | $14.1M | ||
| Q2 24 | $147.2M | $-38.0M |
自由现金流率AMSPWH
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | 2.6% | ||
| Q3 25 | — | -11.5% | ||
| Q2 25 | — | -25.7% | ||
| Q1 25 | — | 14.6% | ||
| Q4 24 | — | -1.9% | ||
| Q3 24 | 68.3% | 4.9% | ||
| Q2 24 | 54.6% | -15.5% |
资本支出强度AMSPWH
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | 0.0% | 1.1% | ||
| Q3 24 | 0.2% | 1.5% | ||
| Q2 24 | 25.4% | 1.4% |
现金转化率AMSPWH
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | 2038.00× | ||
| Q3 25 | 1.84× | — | ||
| Q2 25 | 2.13× | — | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 2.51× | — |
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% |
SPWH
暂无分部数据
