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Antero Midstream Corp（AM）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
INNOVATE Corp.的季度营收约是Antero Midstream Corp的1.3倍（$382.7M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs -1.9%，领先43.4%），INNOVATE Corp.同比增速更快（61.7% vs -7.3%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% 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。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
AM vs VATE — 直观对比
营收规模更大
VATE
是对方的1.3倍
$291.1M
营收增速更快
VATE
高出69.1%
-7.3%
净利率更高
AM
高出43.4%
-1.9%
两年增速更快
VATE
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $382.7M |
| 净利润 | $120.7M | $-7.4M |
| 毛利率 | — | 15.4% |
| 营业利润率 | 60.9% | 3.7% |
| 净利率 | 41.5% | -1.9% |
| 营收同比 | -7.3% | 61.7% |
| 净利润同比 | 2.1% | 55.4% |
| 每股收益（稀释后） | $0.25 | $-0.57 |
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AMVATE
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | $382.7M | ||
| Q3 25 | $294.8M | $347.1M | ||
| Q2 25 | $305.5M | $242.0M | ||
| Q1 25 | $291.1M | $274.2M | ||
| Q4 24 | $287.5M | $236.6M | ||
| Q3 24 | $269.9M | $242.2M | ||
| Q2 24 | $269.8M | $313.1M |
净利润AMVATE
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | $-7.4M | ||
| Q3 25 | $116.0M | $-8.9M | ||
| Q2 25 | $124.5M | $-19.8M | ||
| Q1 25 | $120.7M | $-24.5M | ||
| Q4 24 | $111.2M | $-16.6M | ||
| Q3 24 | $99.7M | $-15.0M | ||
| Q2 24 | $86.0M | $14.4M |
毛利率AMVATE
| Q1 26 | — | — | ||
| Q4 25 | — | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | — | 19.9% | ||
| Q2 24 | — | 21.0% |
营业利润率AMVATE
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | 3.7% | ||
| Q3 25 | 61.2% | 1.8% | ||
| Q2 25 | 61.0% | 2.0% | ||
| Q1 25 | 60.9% | 1.2% | ||
| Q4 24 | 61.8% | 1.1% | ||
| Q3 24 | 60.2% | 2.4% | ||
| Q2 24 | 56.6% | 9.2% |
净利率AMVATE
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | -1.9% | ||
| Q3 25 | 39.3% | -2.6% | ||
| Q2 25 | 40.8% | -8.2% | ||
| Q1 25 | 41.5% | -8.9% | ||
| Q4 24 | 38.7% | -7.0% | ||
| Q3 24 | 37.0% | -6.2% | ||
| Q2 24 | 31.9% | 4.6% |
每股收益（稀释后）AMVATE
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | $-0.57 | ||
| Q3 25 | $0.24 | $-0.71 | ||
| Q2 25 | $0.26 | $-1.67 | ||
| Q1 25 | $0.25 | $-1.89 | ||
| Q4 24 | $0.23 | $-0.72 | ||
| Q3 24 | $0.21 | $-1.18 | ||
| Q2 24 | $0.18 | $1.03 |
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 | $112.1M |
| 总债务越低越好 | $3.2B | $80.3M |
| 股东权益账面价值 | $2.0B | $-240.1M |
| 总资产 | $5.9B | $950.1M |
| 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AMVATE
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | $112.1M | ||
| Q3 25 | — | $35.5M | ||
| Q2 25 | — | $33.4M | ||
| Q1 25 | — | $33.3M | ||
| Q4 24 | — | $48.8M | ||
| Q3 24 | — | $51.0M | ||
| Q2 24 | — | $80.2M |
总债务AMVATE
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $80.3M | ||
| Q3 25 | $3.0B | $97.3M | ||
| Q2 25 | $3.0B | $160.1M | ||
| Q1 25 | $3.1B | $139.9M | ||
| Q4 24 | $3.1B | $500.6M | ||
| Q3 24 | $3.2B | $502.4M | ||
| Q2 24 | $3.2B | $638.3M |
股东权益AMVATE
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | $-240.1M | ||
| Q3 25 | $2.1B | $-233.3M | ||
| Q2 25 | $2.1B | $-224.8M | ||
| Q1 25 | $2.1B | $-204.2M | ||
| Q4 24 | $2.1B | $-180.4M | ||
| Q3 24 | $2.1B | $-163.1M | ||
| Q2 24 | $2.1B | $-149.0M |
总资产AMVATE
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | $950.1M | ||
| Q3 25 | $5.7B | $913.2M | ||
| Q2 25 | $5.7B | $890.9M | ||
| Q1 25 | $5.8B | $868.0M | ||
| Q4 24 | $5.8B | $891.1M | ||
| Q3 24 | $5.8B | $897.2M | ||
| Q2 24 | $5.8B | $898.9M |
负债/权益比AMVATE
| 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 | $101.1M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 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× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流AMVATE
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | $101.1M | ||
| Q3 25 | $212.8M | $19.2M | ||
| Q2 25 | $265.2M | $40.4M | ||
| Q1 25 | $198.9M | $-14.1M | ||
| Q4 24 | $232.7M | $41.4M | ||
| Q3 24 | $184.9M | $-28.4M | ||
| Q2 24 | $215.8M | $21.5M |
自由现金流AMVATE
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $19.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | — | $34.2M | ||
| Q3 24 | $184.3M | $-31.5M | ||
| Q2 24 | $147.2M | $18.4M |
自由现金流率AMVATE
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | 68.3% | -13.0% | ||
| Q2 24 | 54.6% | 5.9% |
资本支出强度AMVATE
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | 0.0% | 3.0% | ||
| Q3 24 | 0.2% | 1.3% | ||
| Q2 24 | 25.4% | 1.0% |
现金转化率AMVATE
| Q1 26 | 1.65× | — | ||
| Q4 25 | 4.92× | — | ||
| Q3 25 | 1.84× | — | ||
| Q2 25 | 2.13× | — | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | — | ||
| Q3 24 | 1.85× | — | ||
| Q2 24 | 2.51× | 1.49× |
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% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
