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Antero Midstream Corp（AM）与Gentherm Inc（THRM）财务数据对比。点击上方公司名可切换其他公司
Gentherm Inc的季度营收约是Antero Midstream Corp的1.3倍（$382.8M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs 0.8%，领先40.7%），Gentherm Inc同比增速更快（8.5% vs -7.3%），过去两年Antero Midstream Corp的营收复合增速更高（3.9% vs 3.7%）
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。
金瑟公司（原阿梅里贡）是一家美国热管理技术企业，为汽车行业研发出了全球首款热电调温座椅系统——气候控制座椅系统。该系统于1999年率先被福特汽车采纳，作为选装配置搭载在2000款林肯领航员上，如今已应用于福特、通用、丰田（雷克萨斯）、起亚、现代、日产（英菲尼迪）等车企的50余款车型。
AM vs THRM — 直观对比
营收规模更大
THRM
是对方的1.3倍
$291.1M
营收增速更快
THRM
高出15.8%
-7.3%
净利率更高
AM
高出40.7%
0.8%
两年增速更快
AM
近两年复合增速
3.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $382.8M |
| 净利润 | $120.7M | $3.0M |
| 毛利率 | — | 23.7% |
| 营业利润率 | 60.9% | 4.6% |
| 净利率 | 41.5% | 0.8% |
| 营收同比 | -7.3% | 8.5% |
| 净利润同比 | 2.1% | -80.5% |
| 每股收益（稀释后） | $0.25 | $0.08 |
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AMTHRM
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $382.8M | ||
| Q3 25 | $294.8M | $386.9M | ||
| Q2 25 | $305.5M | $375.1M | ||
| Q1 25 | $291.1M | $353.9M | ||
| Q4 24 | $287.5M | $352.9M | ||
| Q3 24 | $269.9M | $371.5M | ||
| Q2 24 | $269.8M | $375.7M |
净利润AMTHRM
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $3.0M | ||
| Q3 25 | $116.0M | $14.9M | ||
| Q2 25 | $124.5M | $477.0K | ||
| Q1 25 | $120.7M | $-128.0K | ||
| Q4 24 | $111.2M | $15.3M | ||
| Q3 24 | $99.7M | $16.0M | ||
| Q2 24 | $86.0M | $18.9M |
毛利率AMTHRM
| Q1 26 | — | — | ||
| Q4 25 | — | 23.7% | ||
| Q3 25 | — | 24.6% | ||
| Q2 25 | — | 23.9% | ||
| Q1 25 | — | 24.4% | ||
| Q4 24 | — | 24.4% | ||
| Q3 24 | — | 25.5% | ||
| Q2 24 | — | 25.7% |
营业利润率AMTHRM
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 4.6% | ||
| Q3 25 | 61.2% | 6.2% | ||
| Q2 25 | 61.0% | 6.4% | ||
| Q1 25 | 60.9% | 4.8% | ||
| Q4 24 | 61.8% | 6.7% | ||
| Q3 24 | 60.2% | 8.7% | ||
| Q2 24 | 56.6% | 8.8% |
净利率AMTHRM
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | 0.8% | ||
| Q3 25 | 39.3% | 3.9% | ||
| Q2 25 | 40.8% | 0.1% | ||
| Q1 25 | 41.5% | -0.0% | ||
| Q4 24 | 38.7% | 4.3% | ||
| Q3 24 | 37.0% | 4.3% | ||
| Q2 24 | 31.9% | 5.0% |
每股收益（稀释后）AMTHRM
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $0.08 | ||
| Q3 25 | $0.24 | $0.49 | ||
| Q2 25 | $0.26 | $0.02 | ||
| Q1 25 | $0.25 | $0.00 | ||
| Q4 24 | $0.23 | $0.48 | ||
| Q3 24 | $0.21 | $0.51 | ||
| Q2 24 | $0.18 | $0.60 |
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 | $160.8M |
| 总债务越低越好 | $3.2B | $189.0M |
| 股东权益账面价值 | $2.0B | $720.3M |
| 总资产 | $5.9B | $1.4B |
| 负债/权益比越低杠杆越低 | 1.63× | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资AMTHRM
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $160.8M | ||
| Q3 25 | — | $154.3M | ||
| Q2 25 | — | $128.3M | ||
| Q1 25 | — | $163.1M | ||
| Q4 24 | — | $134.1M | ||
| Q3 24 | — | $150.6M | ||
| Q2 24 | — | $123.5M |
总债务AMTHRM
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $189.0M | ||
| Q3 25 | $3.0B | $189.0M | ||
| Q2 25 | $3.0B | $209.0M | ||
| Q1 25 | $3.1B | $262.0M | ||
| Q4 24 | $3.1B | $220.1M | ||
| Q3 24 | $3.2B | $222.1M | ||
| Q2 24 | $3.2B | $222.1M |
股东权益AMTHRM
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $720.3M | ||
| Q3 25 | $2.1B | $717.9M | ||
| Q2 25 | $2.1B | $699.7M | ||
| Q1 25 | $2.1B | $646.5M | ||
| Q4 24 | $2.1B | $616.9M | ||
| Q3 24 | $2.1B | $660.7M | ||
| Q2 24 | $2.1B | $640.3M |
总资产AMTHRM
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $1.4B | ||
| Q3 25 | $5.7B | $1.4B | ||
| Q2 25 | $5.7B | $1.4B | ||
| Q1 25 | $5.8B | $1.3B | ||
| Q4 24 | $5.8B | $1.2B | ||
| Q3 24 | $5.8B | $1.3B | ||
| Q2 24 | $5.8B | $1.2B |
负债/权益比AMTHRM
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.26× | ||
| Q3 25 | 1.46× | 0.26× | ||
| Q2 25 | 1.45× | 0.30× | ||
| Q1 25 | 1.49× | 0.41× | ||
| Q4 24 | 1.47× | 0.36× | ||
| Q3 24 | 1.49× | 0.34× | ||
| Q2 24 | 1.50× | 0.35× |
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 | $29.0M |
| 自由现金流经营现金流 - 资本支出 | — | $6.7M |
| 自由现金流率自由现金流/营收 | — | 1.7% |
| 资本支出强度资本支出/营收 | 11.1% | 5.8% |
| 现金转化率经营现金流/净利润 | 1.65× | 9.70× |
| 过去12个月自由现金流最近4个季度 | — | $61.1M |
8季度趋势，按日历期对齐
经营现金流AMTHRM
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $29.0M | ||
| Q3 25 | $212.8M | $56.1M | ||
| Q2 25 | $265.2M | $45.0M | ||
| Q1 25 | $198.9M | $-13.3M | ||
| Q4 24 | $232.7M | $36.6M | ||
| Q3 24 | $184.9M | $46.3M | ||
| Q2 24 | $215.8M | $37.1M |
自由现金流AMTHRM
| Q1 26 | — | — | ||
| Q4 25 | — | $6.7M | ||
| Q3 25 | — | $46.5M | ||
| Q2 25 | — | $36.2M | ||
| Q1 25 | — | $-28.2M | ||
| Q4 24 | — | $13.6M | ||
| Q3 24 | $184.3M | $26.6M | ||
| Q2 24 | $147.2M | $17.8M |
自由现金流率AMTHRM
| Q1 26 | — | — | ||
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 12.0% | ||
| Q2 25 | — | 9.6% | ||
| Q1 25 | — | -8.0% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | 68.3% | 7.2% | ||
| Q2 24 | 54.6% | 4.7% |
资本支出强度AMTHRM
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 5.8% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | 0.0% | 6.5% | ||
| Q3 24 | 0.2% | 5.3% | ||
| Q2 24 | 25.4% | 5.2% |
现金转化率AMTHRM
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | 9.70× | ||
| Q3 25 | 1.84× | 3.75× | ||
| Q2 25 | 2.13× | 94.43× | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | 2.39× | ||
| Q3 24 | 1.85× | 2.90× | ||
| Q2 24 | 2.51× | 1.97× |
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% |
THRM
| Climate Control Seats | $200.9M | 52% |
| Lumbar And Massage Comfort Solutions | $58.5M | 15% |
| Climate Control Interiors | $50.3M | 13% |
| Other Automotive | $27.6M | 7% |
| Valve Systems | $24.1M | 6% |
| Medical Segments | $13.9M | 4% |
| Climate And Comfort Electronics | $7.4M | 2% |
