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Antero Midstream Corp（AM）与SSR MINING INC.（SSRM）财务数据对比。点击上方公司名可切换其他公司
SSR MINING INC.的季度营收约是Antero Midstream Corp的1.8倍（$521.7M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs 34.8%，领先6.7%），SSR MINING INC.同比增速更快（61.4% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $106.4M），过去两年SSR MINING INC.的营收复合增速更高（50.5% 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。
SSR Mining Inc.（前身为白银标准资源公司）总部位于美国科罗拉多州丹佛，主营金、银、铜、铅、锌矿产开采，拥有阿根廷最大的银矿，同时在美洲全境及土耳其开展矿产勘探业务。2020年与阿拉瑟黄金合并后迁至丹佛，现任总裁兼首席执行官为罗德尼·P·安塔尔。
AM vs SSRM — 直观对比
营收规模更大
SSRM
是对方的1.8倍
$291.1M
营收增速更快
SSRM
高出68.8%
-7.3%
净利率更高
AM
高出6.7%
34.8%
自由现金流更多
AM
多$80.5M
$106.4M
两年增速更快
SSRM
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $521.7M |
| 净利润 | $120.7M | $181.5M |
| 毛利率 | — | — |
| 营业利润率 | 60.9% | 38.8% |
| 净利率 | 41.5% | 34.8% |
| 营收同比 | -7.3% | 61.4% |
| 净利润同比 | 2.1% | 3166.6% |
| 每股收益（稀释后） | $0.25 | $0.84 |
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AMSSRM
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $521.7M | ||
| Q3 25 | $294.8M | $385.8M | ||
| Q2 25 | $305.5M | $405.5M | ||
| Q1 25 | $291.1M | $316.6M | ||
| Q4 24 | $287.5M | $323.2M | ||
| Q3 24 | $269.9M | $257.4M | ||
| Q2 24 | $269.8M | $184.8M |
净利润AMSSRM
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $181.5M | ||
| Q3 25 | $116.0M | $65.4M | ||
| Q2 25 | $124.5M | $90.1M | ||
| Q1 25 | $120.7M | $58.8M | ||
| Q4 24 | $111.2M | $5.6M | ||
| Q3 24 | $99.7M | $10.6M | ||
| Q2 24 | $86.0M | $9.7M |
营业利润率AMSSRM
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 38.8% | ||
| Q3 25 | 61.2% | 21.6% | ||
| Q2 25 | 61.0% | 26.9% | ||
| Q1 25 | 60.9% | 21.1% | ||
| Q4 24 | 61.8% | 10.6% | ||
| Q3 24 | 60.2% | 3.5% | ||
| Q2 24 | 56.6% | 5.8% |
净利率AMSSRM
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 34.8% | ||
| Q3 25 | 39.3% | 17.0% | ||
| Q2 25 | 40.8% | 22.2% | ||
| Q1 25 | 41.5% | 18.6% | ||
| Q4 24 | 38.7% | 1.7% | ||
| Q3 24 | 37.0% | 4.1% | ||
| Q2 24 | 31.9% | 5.2% |
每股收益（稀释后）AMSSRM
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $0.84 | ||
| Q3 25 | $0.24 | $0.31 | ||
| Q2 25 | $0.26 | $0.42 | ||
| Q1 25 | $0.25 | $0.28 | ||
| Q4 24 | $0.23 | $0.03 | ||
| Q3 24 | $0.21 | $0.05 | ||
| Q2 24 | $0.18 | $0.05 |
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 | $575.6M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | $3.5B |
| 总资产 | $5.9B | $6.1B |
| 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AMSSRM
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $575.6M | ||
| Q3 25 | — | $445.4M | ||
| Q2 25 | — | $438.5M | ||
| Q1 25 | — | $341.3M | ||
| Q4 24 | — | $417.3M | ||
| Q3 24 | — | $365.8M | ||
| Q2 24 | — | $384.4M |
总债务AMSSRM
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | $228.6M | ||
| Q3 24 | $3.2B | $228.3M | ||
| Q2 24 | $3.2B | $228.0M |
股东权益AMSSRM
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $3.5B | ||
| Q3 25 | $2.1B | $3.3B | ||
| Q2 25 | $2.1B | $3.3B | ||
| Q1 25 | $2.1B | $3.2B | ||
| Q4 24 | $2.1B | $3.1B | ||
| Q3 24 | $2.1B | $3.1B | ||
| Q2 24 | $2.1B | $3.1B |
总资产AMSSRM
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $6.1B | ||
| Q3 25 | $5.7B | $5.9B | ||
| Q2 25 | $5.7B | $5.8B | ||
| Q1 25 | $5.8B | $5.6B | ||
| Q4 24 | $5.8B | $5.2B | ||
| Q3 24 | $5.8B | $5.1B | ||
| Q2 24 | $5.8B | $5.2B |
负债/权益比AMSSRM
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 1.45× | — | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | 1.47× | 0.07× | ||
| Q3 24 | 1.49× | 0.07× | ||
| Q2 24 | 1.50× | 0.07× |
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 | $172.1M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $106.4M |
| 自由现金流率自由现金流/营收 | 64.2% | 20.4% |
| 资本支出强度资本支出/营收 | 11.1% | 12.6% |
| 现金转化率经营现金流/净利润 | 1.65× | 0.95× |
| 过去12个月自由现金流最近4个季度 | — | $241.6M |
8季度趋势，按日历期对齐
经营现金流AMSSRM
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $172.1M | ||
| Q3 25 | $212.8M | $57.2M | ||
| Q2 25 | $265.2M | $157.8M | ||
| Q1 25 | $198.9M | $84.8M | ||
| Q4 24 | $232.7M | $95.0M | ||
| Q3 24 | $184.9M | $-1.3M | ||
| Q2 24 | $215.8M | $-78.1M |
自由现金流AMSSRM
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | $106.4M | ||
| Q3 25 | — | $-2.4M | ||
| Q2 25 | — | $98.4M | ||
| Q1 25 | — | $39.3M | ||
| Q4 24 | — | $56.4M | ||
| Q3 24 | $184.3M | $-34.1M | ||
| Q2 24 | $147.2M | $-116.3M |
自由现金流率AMSSRM
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | 20.4% | ||
| Q3 25 | — | -0.6% | ||
| Q2 25 | — | 24.3% | ||
| Q1 25 | — | 12.4% | ||
| Q4 24 | — | 17.5% | ||
| Q3 24 | 68.3% | -13.2% | ||
| Q2 24 | 54.6% | -62.9% |
资本支出强度AMSSRM
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 12.6% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 14.7% | ||
| Q1 25 | — | 14.4% | ||
| Q4 24 | 0.0% | 11.9% | ||
| Q3 24 | 0.2% | 12.7% | ||
| Q2 24 | 25.4% | 20.7% |
现金转化率AMSSRM
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | 0.95× | ||
| Q3 25 | 1.84× | 0.87× | ||
| Q2 25 | 2.13× | 1.75× | ||
| Q1 25 | 1.65× | 1.44× | ||
| Q4 24 | 2.09× | 17.10× | ||
| Q3 24 | 1.85× | -0.13× | ||
| Q2 24 | 2.51× | -8.06× |
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% |
SSRM
| Gold | $369.3M | 71% |
| Concentrate Sales | $124.4M | 24% |
| Other | $19.1M | 4% |
| Lead | $9.0M | 2% |
