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Antero Midstream Corp（AM）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
世纪互联的季度营收约是Antero Midstream Corp的1.2倍（$362.7M vs $291.1M），Antero Midstream Corp净利率更高（41.5% vs -10.7%，领先52.1%），Antero Midstream Corp自由现金流更多（$186.9M vs $-193.1M），过去两年世纪互联的营收复合增速更高（17.4% 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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
AM vs VNET — 直观对比
营收规模更大
VNET
是对方的1.2倍
$291.1M
净利率更高
AM
高出52.1%
-10.7%
自由现金流更多
AM
多$380.0M
$-193.1M
两年增速更快
VNET
近两年复合增速
3.9%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $291.1M | $362.7M |
| 净利润 | $120.7M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 60.9% | 0.5% |
| 净利率 | 41.5% | -10.7% |
| 营收同比 | -7.3% | — |
| 净利润同比 | 2.1% | — |
| 每股收益（稀释后） | $0.25 | — |
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AMVNET
| Q1 26 | $291.1M | — | ||
| Q4 25 | $297.0M | — | ||
| Q3 25 | $294.8M | $362.7M | ||
| Q2 25 | $305.5M | — | ||
| Q1 25 | $291.1M | $309.5M | ||
| Q4 24 | $287.5M | — | ||
| Q3 24 | $269.9M | $302.2M | ||
| Q2 24 | $269.8M | $274.4M |
净利润AMVNET
| Q1 26 | $120.7M | — | ||
| Q4 25 | $51.9M | — | ||
| Q3 25 | $116.0M | $-38.7M | ||
| Q2 25 | $124.5M | — | ||
| Q1 25 | $120.7M | $-2.4M | ||
| Q4 24 | $111.2M | — | ||
| Q3 24 | $99.7M | $-2.1M | ||
| Q2 24 | $86.0M | $-1.1M |
毛利率AMVNET
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% |
营业利润率AMVNET
| Q1 26 | 60.9% | — | ||
| Q4 25 | 33.8% | — | ||
| Q3 25 | 61.2% | 0.5% | ||
| Q2 25 | 61.0% | — | ||
| Q1 25 | 60.9% | 0.1% | ||
| Q4 24 | 61.8% | — | ||
| Q3 24 | 60.2% | 24.5% | ||
| Q2 24 | 56.6% | 0.2% |
净利率AMVNET
| Q1 26 | 41.5% | — | ||
| Q4 25 | 17.5% | — | ||
| Q3 25 | 39.3% | -10.7% | ||
| Q2 25 | 40.8% | — | ||
| Q1 25 | 41.5% | -0.8% | ||
| Q4 24 | 38.7% | — | ||
| Q3 24 | 37.0% | -0.7% | ||
| Q2 24 | 31.9% | -0.4% |
每股收益（稀释后）AMVNET
| Q1 26 | $0.25 | — | ||
| Q4 25 | $0.11 | — | ||
| Q3 25 | $0.24 | — | ||
| Q2 25 | $0.26 | — | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $0.23 | — | ||
| Q3 24 | $0.21 | — | ||
| Q2 24 | $0.18 | — |
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 | $492.1M |
| 总债务越低越好 | $3.2B | — |
| 股东权益账面价值 | $2.0B | $890.8M |
| 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AMVNET
| Q1 26 | $180.4M | — | ||
| Q4 25 | $180.4M | — | ||
| Q3 25 | — | $492.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $544.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $219.5M | ||
| Q2 24 | — | $247.2M |
总债务AMVNET
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.2B | $1.2B | ||
| Q2 24 | $3.2B | — |
股东权益AMVNET
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | — | ||
| Q3 25 | $2.1B | $890.8M | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.1B | $927.8M | ||
| Q4 24 | $2.1B | — | ||
| Q3 24 | $2.1B | $902.9M | ||
| Q2 24 | $2.1B | $900.6M |
总资产AMVNET
| Q1 26 | $5.9B | — | ||
| Q4 25 | $5.9B | — | ||
| Q3 25 | $5.7B | $6.1B | ||
| Q2 25 | $5.7B | — | ||
| Q1 25 | $5.8B | $5.4B | ||
| Q4 24 | $5.8B | — | ||
| Q3 24 | $5.8B | $4.3B | ||
| Q2 24 | $5.8B | $4.0B |
负债/权益比AMVNET
| 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× | 1.28× | ||
| 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 | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $186.9M | $-193.1M |
| 自由现金流率自由现金流/营收 | 64.2% | -53.2% |
| 资本支出强度资本支出/营收 | 11.1% | 84.6% |
| 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 | — | $-589.7M |
8季度趋势，按日历期对齐
经营现金流AMVNET
| Q1 26 | $198.9M | — | ||
| Q4 25 | $255.5M | — | ||
| Q3 25 | $212.8M | $113.8M | ||
| Q2 25 | $265.2M | — | ||
| Q1 25 | $198.9M | $27.0M | ||
| Q4 24 | $232.7M | — | ||
| Q3 24 | $184.9M | $108.3M | ||
| Q2 24 | $215.8M | $55.8M |
自由现金流AMVNET
| Q1 26 | $186.9M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $-193.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-220.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $184.3M | $-95.0M | ||
| Q2 24 | $147.2M | $-81.6M |
自由现金流率AMVNET
| Q1 26 | 64.2% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -53.2% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -71.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | 68.3% | -31.4% | ||
| Q2 24 | 54.6% | -29.8% |
资本支出强度AMVNET
| Q1 26 | 11.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 79.8% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.2% | 67.3% | ||
| Q2 24 | 25.4% | 50.1% |
现金转化率AMVNET
| 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× | — |
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% |
VNET
暂无分部数据
