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Antero Midstream Corp（AM）与Willdan Group, Inc.（WLDN）财务数据对比。点击上方公司名可切换其他公司
Antero Midstream Corp的季度营收约是Willdan Group, Inc.的1.6倍（$297.0M vs $182.0M），Antero Midstream Corp净利率更高（17.5% vs 7.5%，领先9.9%），Willdan Group, Inc.同比增速更快（15.0% vs 3.3%），过去两年Willdan Group, Inc.的营收复合增速更高（8.1% vs 3.2%）
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。
Willdan集团是美国上市的专业技术与咨询服务提供商，服务对象覆盖公共及私营公用事业企业、各级政府公共机构，还有工商业领域客户。公司在全美十余个州设有办事处，核心业务布局于加利福尼亚州与纽约州。
AM vs WLDN — 直观对比
营收规模更大
AM
是对方的1.6倍
$182.0M
营收增速更快
WLDN
高出11.7%
3.3%
净利率更高
AM
高出9.9%
7.5%
两年增速更快
WLDN
近两年复合增速
3.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $297.0M | $182.0M |
| 净利润 | $51.9M | $13.7M |
| 毛利率 | — | 36.9% |
| 营业利润率 | 33.8% | 8.2% |
| 净利率 | 17.5% | 7.5% |
| 营收同比 | 3.3% | 15.0% |
| 净利润同比 | -53.3% | 86.8% |
| 每股收益（稀释后） | $0.11 | $0.90 |
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AMWLDN
| Q4 25 | $297.0M | $182.0M | ||
| Q3 25 | $294.8M | $173.5M | ||
| Q2 25 | $305.5M | $152.4M | ||
| Q1 25 | $291.1M | — | ||
| Q4 24 | $287.5M | $144.1M | ||
| Q3 24 | $269.9M | $158.3M | ||
| Q2 24 | $269.8M | $141.0M | ||
| Q1 24 | $279.1M | $122.5M |
净利润AMWLDN
| Q4 25 | $51.9M | $13.7M | ||
| Q3 25 | $116.0M | $15.4M | ||
| Q2 25 | $124.5M | $4.7M | ||
| Q1 25 | $120.7M | — | ||
| Q4 24 | $111.2M | $7.7M | ||
| Q3 24 | $99.7M | $7.3M | ||
| Q2 24 | $86.0M | $4.6M | ||
| Q1 24 | $103.9M | $2.9M |
毛利率AMWLDN
| Q4 25 | — | 36.9% | ||
| Q3 25 | — | 39.4% | ||
| Q2 25 | — | 37.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 38.1% | ||
| Q3 24 | — | 32.6% | ||
| Q2 24 | — | 34.6% | ||
| Q1 24 | — | 38.7% |
营业利润率AMWLDN
| Q4 25 | 33.8% | 8.2% | ||
| Q3 25 | 61.2% | 6.8% | ||
| Q2 25 | 61.0% | 4.6% | ||
| Q1 25 | 60.9% | — | ||
| Q4 24 | 61.8% | 7.5% | ||
| Q3 24 | 60.2% | 5.5% | ||
| Q2 24 | 56.6% | 4.6% | ||
| Q1 24 | 59.6% | 4.4% |
净利率AMWLDN
| Q4 25 | 17.5% | 7.5% | ||
| Q3 25 | 39.3% | 8.9% | ||
| Q2 25 | 40.8% | 3.1% | ||
| Q1 25 | 41.5% | — | ||
| Q4 24 | 38.7% | 5.3% | ||
| Q3 24 | 37.0% | 4.6% | ||
| Q2 24 | 31.9% | 3.3% | ||
| Q1 24 | 37.2% | 2.4% |
每股收益（稀释后）AMWLDN
| Q4 25 | $0.11 | $0.90 | ||
| Q3 25 | $0.24 | $1.03 | ||
| Q2 25 | $0.26 | $0.32 | ||
| Q1 25 | $0.25 | — | ||
| Q4 24 | $0.23 | $0.53 | ||
| Q3 24 | $0.21 | $0.51 | ||
| Q2 24 | $0.18 | $0.33 | ||
| Q1 24 | $0.21 | $0.21 |
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 | $33.1M |
| 总债务越低越好 | $3.2B | $49.1M |
| 股东权益账面价值 | $2.0B | $283.1M |
| 总资产 | $5.9B | $507.9M |
| 负债/权益比越低杠杆越低 | 1.63× | 0.17× |
8季度趋势，按日历期对齐
现金及短期投资AMWLDN
| Q4 25 | $180.4M | $33.1M | ||
| Q3 25 | — | $32.3M | ||
| Q2 25 | — | $38.4M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $74.2M | ||
| Q3 24 | — | $53.1M | ||
| Q2 24 | — | $44.3M | ||
| Q1 24 | $26.1M | $46.9M |
总债务AMWLDN
| Q4 25 | $3.2B | $49.1M | ||
| Q3 25 | $3.0B | $59.7M | ||
| Q2 25 | $3.0B | $86.9M | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | $89.5M | ||
| Q3 24 | $3.2B | $91.9M | ||
| Q2 24 | $3.2B | $93.7M | ||
| Q1 24 | $3.2B | $95.5M |
股东权益AMWLDN
| Q4 25 | $2.0B | $283.1M | ||
| Q3 25 | $2.1B | $265.9M | ||
| Q2 25 | $2.1B | $245.5M | ||
| Q1 25 | $2.1B | — | ||
| Q4 24 | $2.1B | $234.3M | ||
| Q3 24 | $2.1B | $224.0M | ||
| Q2 24 | $2.1B | $213.0M | ||
| Q1 24 | $2.2B | $205.5M |
总资产AMWLDN
| Q4 25 | $5.9B | $507.9M | ||
| Q3 25 | $5.7B | $484.9M | ||
| Q2 25 | $5.7B | $471.2M | ||
| Q1 25 | $5.8B | — | ||
| Q4 24 | $5.8B | $464.9M | ||
| Q3 24 | $5.8B | $447.3M | ||
| Q2 24 | $5.8B | $421.3M | ||
| Q1 24 | $5.7B | $407.9M |
负债/权益比AMWLDN
| Q4 25 | 1.63× | 0.17× | ||
| Q3 25 | 1.46× | 0.22× | ||
| Q2 25 | 1.45× | 0.35× | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | 1.47× | 0.38× | ||
| Q3 24 | 1.49× | 0.41× | ||
| Q2 24 | 1.50× | 0.44× | ||
| Q1 24 | 1.48× | 0.46× |
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 | $255.5M | $12.2M |
| 自由现金流经营现金流 - 资本支出 | — | $9.8M |
| 自由现金流率自由现金流/营收 | — | 5.4% |
| 资本支出强度资本支出/营收 | — | 1.3% |
| 现金转化率经营现金流/净利润 | 4.92× | 0.89× |
| 过去12个月自由现金流最近4个季度 | — | $65.1M |
8季度趋势，按日历期对齐
经营现金流AMWLDN
| Q4 25 | $255.5M | $12.2M | ||
| Q3 25 | $212.8M | $25.4M | ||
| Q2 25 | $265.2M | $3.3M | ||
| Q1 25 | $198.9M | — | ||
| Q4 24 | $232.7M | $33.5M | ||
| Q3 24 | $184.9M | $10.8M | ||
| Q2 24 | $215.8M | $889.0K | ||
| Q1 24 | $210.6M | $26.9M |
自由现金流AMWLDN
| Q4 25 | — | $9.8M | ||
| Q3 25 | — | $23.2M | ||
| Q2 25 | — | $1.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $31.1M | ||
| Q3 24 | $184.3M | $8.8M | ||
| Q2 24 | $147.2M | $-1.3M | ||
| Q1 24 | $208.5M | $25.0M |
自由现金流率AMWLDN
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 13.4% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | 68.3% | 5.6% | ||
| Q2 24 | 54.6% | -0.9% | ||
| Q1 24 | 74.7% | 20.4% |
资本支出强度AMWLDN
| Q4 25 | — | 1.3% | ||
| Q3 25 | — | 1.3% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | 1.6% | ||
| Q3 24 | 0.2% | 1.2% | ||
| Q2 24 | 25.4% | 1.5% | ||
| Q1 24 | 0.7% | 1.6% |
现金转化率AMWLDN
| Q4 25 | 4.92× | 0.89× | ||
| Q3 25 | 1.84× | 1.65× | ||
| Q2 25 | 2.13× | 0.71× | ||
| Q1 25 | 1.65× | — | ||
| Q4 24 | 2.09× | 4.35× | ||
| Q3 24 | 1.85× | 1.47× | ||
| Q2 24 | 2.51× | 0.19× | ||
| Q1 24 | 2.03× | 9.16× |
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 Low Pressure | $114.2M | 38% |
| Natural Gas Water Handling And Treatment Affiliate | $63.2M | 21% |
| Water Handling | $55.7M | 19% |
| Fresh Water Delivery | $37.2M | 13% |
| Other Fluid Handling | $26.9M | 9% |
WLDN
| Public Utility | $74.2M | 41% |
| Governments | $64.6M | 35% |
| Engineering Consulting Services | $27.3M | 15% |
| Commercial | $15.9M | 9% |
| Alternative Power Generation Inc | $4.8M | 3% |
