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Antero Midstream Corp（AM）与Tyler Technologies（TYL）财务数据对比。点击上方公司名可切换其他公司
Tyler Technologies的季度营收约是Antero Midstream Corp的2.1倍（$613.5M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs 13.2%，领先28.2%），Tyler Technologies同比增速更快（8.6% vs -7.3%），Antero Midstream Corp自由现金流更多（$186.9M vs $2.0M），过去两年Tyler Technologies的营收复合增速更高（6.5% 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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
AM vs TYL — 直观对比
营收规模更大
TYL
是对方的2.1倍
$291.1M
营收增速更快
TYL
高出15.9%
-7.3%
净利率更高
AM
高出28.2%
13.2%
自由现金流更多
AM
多$184.9M
$2.0M
两年增速更快
TYL
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $613.5M |
| 净利润 | $120.7M | $81.2M |
| 毛利率 | — | 48.3% |
| 营业利润率 | 60.9% | 16.3% |
| 净利率 | 41.5% | 13.2% |
| 营收同比 | -7.3% | 8.6% |
| 净利润同比 | 2.1% | — |
| 每股收益（稀释后） | $0.25 | $1.88 |
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AMTYL
| Q1 26 | $291.1M | $613.5M | ||
| Q4 25 | $297.0M | $575.2M | ||
| Q3 25 | $294.8M | $595.9M | ||
| Q2 25 | $305.5M | $596.1M | ||
| Q1 25 | $291.1M | $565.2M | ||
| Q4 24 | $287.5M | $541.1M | ||
| Q3 24 | $269.9M | $543.3M | ||
| Q2 24 | $269.8M | $541.0M |
净利润AMTYL
| Q1 26 | $120.7M | $81.2M | ||
| Q4 25 | $51.9M | $65.5M | ||
| Q3 25 | $116.0M | $84.4M | ||
| Q2 25 | $124.5M | $84.6M | ||
| Q1 25 | $120.7M | $81.1M | ||
| Q4 24 | $111.2M | $65.2M | ||
| Q3 24 | $99.7M | $75.9M | ||
| Q2 24 | $86.0M | $67.7M |
毛利率AMTYL
| Q1 26 | — | 48.3% | ||
| Q4 25 | — | 45.5% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 45.8% | ||
| Q1 25 | — | 47.3% | ||
| Q4 24 | — | 43.8% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | — | 44.0% |
营业利润率AMTYL
| Q1 26 | 60.9% | 16.3% | ||
| Q4 25 | 33.8% | 13.0% | ||
| Q3 25 | 61.2% | 16.4% | ||
| Q2 25 | 61.0% | 16.0% | ||
| Q1 25 | 60.9% | 15.8% | ||
| Q4 24 | 61.8% | 13.2% | ||
| Q3 24 | 60.2% | 15.2% | ||
| Q2 24 | 56.6% | 14.4% |
净利率AMTYL
| Q1 26 | 41.5% | 13.2% | ||
| Q4 25 | 17.5% | 11.4% | ||
| Q3 25 | 39.3% | 14.2% | ||
| Q2 25 | 40.8% | 14.2% | ||
| Q1 25 | 41.5% | 14.3% | ||
| Q4 24 | 38.7% | 12.1% | ||
| Q3 24 | 37.0% | 14.0% | ||
| Q2 24 | 31.9% | 12.5% |
每股收益（稀释后）AMTYL
| Q1 26 | $0.25 | $1.88 | ||
| Q4 25 | $0.11 | $1.50 | ||
| Q3 25 | $0.24 | $1.93 | ||
| Q2 25 | $0.26 | $1.93 | ||
| Q1 25 | $0.25 | $1.84 | ||
| Q4 24 | $0.23 | $1.48 | ||
| Q3 24 | $0.21 | $1.74 | ||
| Q2 24 | $0.18 | $1.57 |
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 | $346.4M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | $3.6B |
| 总资产 | $5.9B | $4.8B |
| 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AMTYL
| Q1 26 | $180.4M | $346.4M | ||
| Q4 25 | $180.4M | $1.1B | ||
| Q3 25 | — | $950.8M | ||
| Q2 25 | — | $892.3M | ||
| Q1 25 | — | $807.4M | ||
| Q4 24 | — | $768.0M | ||
| Q3 24 | — | $544.3M | ||
| Q2 24 | — | $258.0M |
总债务AMTYL
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $599.7M | ||
| Q3 25 | $3.0B | $599.2M | ||
| Q2 25 | $3.0B | $598.8M | ||
| Q1 25 | $3.1B | $598.4M | ||
| Q4 24 | $3.1B | $597.9M | ||
| Q3 24 | $3.2B | $597.5M | ||
| Q2 24 | $3.2B | $597.1M |
股东权益AMTYL
| Q1 26 | $2.0B | $3.6B | ||
| Q4 25 | $2.0B | $3.7B | ||
| Q3 25 | $2.1B | $3.6B | ||
| Q2 25 | $2.1B | $3.6B | ||
| Q1 25 | $2.1B | $3.5B | ||
| Q4 24 | $2.1B | $3.4B | ||
| Q3 24 | $2.1B | $3.3B | ||
| Q2 24 | $2.1B | $3.1B |
总资产AMTYL
| Q1 26 | $5.9B | $4.8B | ||
| Q4 25 | $5.9B | $5.6B | ||
| Q3 25 | $5.7B | $5.5B | ||
| Q2 25 | $5.7B | $5.4B | ||
| Q1 25 | $5.8B | $5.2B | ||
| Q4 24 | $5.8B | $5.2B | ||
| Q3 24 | $5.8B | $5.0B | ||
| Q2 24 | $5.8B | $4.8B |
负债/权益比AMTYL
| Q1 26 | 1.63× | — | ||
| Q4 25 | 1.63× | 0.16× | ||
| Q3 25 | 1.46× | 0.17× | ||
| Q2 25 | 1.45× | 0.16× | ||
| Q1 25 | 1.49× | 0.17× | ||
| Q4 24 | 1.47× | 0.18× | ||
| Q3 24 | 1.49× | 0.18× | ||
| Q2 24 | 1.50× | 0.19× |
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 | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $2.0M |
| 自由现金流率自由现金流/营收 | 64.2% | 0.3% |
| 资本支出强度资本支出/营收 | 11.1% | — |
| 现金转化率经营现金流/净利润 | 1.65× | 1.32× |
| 过去12个月自由现金流最近4个季度 | — | $585.7M |
8季度趋势，按日历期对齐
经营现金流AMTYL
| Q1 26 | $198.9M | $107.3M | ||
| Q4 25 | $255.5M | $243.9M | ||
| Q3 25 | $212.8M | $255.2M | ||
| Q2 25 | $265.2M | $98.3M | ||
| Q1 25 | $198.9M | $56.2M | ||
| Q4 24 | $232.7M | $224.8M | ||
| Q3 24 | $184.9M | $263.7M | ||
| Q2 24 | $215.8M | $64.3M |
自由现金流AMTYL
| Q1 26 | $186.9M | $2.0M | ||
| Q4 25 | — | $239.6M | ||
| Q3 25 | — | $251.3M | ||
| Q2 25 | — | $92.8M | ||
| Q1 25 | — | $53.8M | ||
| Q4 24 | — | $221.0M | ||
| Q3 24 | $184.3M | $260.8M | ||
| Q2 24 | $147.2M | $57.7M |
自由现金流率AMTYL
| Q1 26 | 64.2% | 0.3% | ||
| Q4 25 | — | 41.7% | ||
| Q3 25 | — | 42.2% | ||
| Q2 25 | — | 15.6% | ||
| Q1 25 | — | 9.5% | ||
| Q4 24 | — | 40.8% | ||
| Q3 24 | 68.3% | 48.0% | ||
| Q2 24 | 54.6% | 10.7% |
资本支出强度AMTYL
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | 0.0% | 0.7% | ||
| Q3 24 | 0.2% | 0.5% | ||
| Q2 24 | 25.4% | 1.2% |
现金转化率AMTYL
| Q1 26 | 1.65× | 1.32× | ||
| Q4 25 | 4.92× | 3.72× | ||
| Q3 25 | 1.84× | 3.02× | ||
| Q2 25 | 2.13× | 1.16× | ||
| Q1 25 | 1.65× | 0.69× | ||
| Q4 24 | 2.09× | 3.45× | ||
| Q3 24 | 1.85× | 3.47× | ||
| Q2 24 | 2.51× | 0.95× |
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 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% |
TYL
| Subscriptions | $429.7M | 70% |
| Maintenance | $108.9M | 18% |
| Other | $74.9M | 12% |
