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ANTERO RESOURCES Corp（AR）与ATI INC（ATI）财务数据对比。点击上方公司名可切换其他公司
ANTERO RESOURCES Corp的季度营收约是ATI INC的1.2倍（$1.4B vs $1.2B），ANTERO RESOURCES Corp净利率更高（14.4% vs 8.2%，领先6.2%），ANTERO RESOURCES Corp同比增速更快（20.8% vs 0.4%），过去两年ANTERO RESOURCES Corp的营收复合增速更高（12.2% vs 6.2%）
Antero Resources Corporation是一家美国油气勘探企业，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展开采作业，深耕北美本土油气资源开发领域。
ATI是加拿大半导体科技企业，总部位于安大略省万锦市，专注于图形处理器（GPU）及芯片组研发。公司成立于1985年，1993年公开上市，2006年被AMD收购。作为无晶圆厂半导体巨头，ATI坚持自主研发，生产组装环节外包，2000年竞争对手3dfx破产后，成为全球图形芯片领域的核心厂商之一。
AR vs ATI — 直观对比
营收规模更大
AR
是对方的1.2倍
$1.2B
营收增速更快
AR
高出20.4%
0.4%
净利率更高
AR
高出6.2%
8.2%
两年增速更快
AR
近两年复合增速
6.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $202.9M | $96.6M |
| 毛利率 | — | 23.2% |
| 营业利润率 | 20.5% | 14.5% |
| 净利率 | 14.4% | 8.2% |
| 营收同比 | 20.8% | 0.4% |
| 净利润同比 | 27.8% | -29.5% |
| 每股收益（稀释后） | $0.63 | $0.70 |
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ARATI
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.3B | $1.1B | ||
| Q1 25 | $1.4B | $1.1B | ||
| Q4 24 | $1.2B | $1.2B | ||
| Q3 24 | $1.1B | $1.1B | ||
| Q2 24 | $978.7M | $1.1B | ||
| Q1 24 | $1.1B | $1.0B |
净利润ARATI
| Q4 25 | $202.9M | $96.6M | ||
| Q3 25 | $85.6M | $110.0M | ||
| Q2 25 | $166.6M | $100.7M | ||
| Q1 25 | $219.5M | $97.0M | ||
| Q4 24 | $158.8M | $137.1M | ||
| Q3 24 | $-25.2M | $82.7M | ||
| Q2 24 | $-74.6M | $81.9M | ||
| Q1 24 | $34.7M | $66.1M |
毛利率ARATI
| Q4 25 | — | 23.2% | ||
| Q3 25 | — | 22.7% | ||
| Q2 25 | — | 21.3% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 21.2% | ||
| Q3 24 | — | 21.4% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 18.9% |
营业利润率ARATI
| Q4 25 | 20.5% | 14.5% | ||
| Q3 25 | 9.7% | 14.4% | ||
| Q2 25 | 15.8% | 14.1% | ||
| Q1 25 | 20.1% | 12.8% | ||
| Q4 24 | 4.9% | 17.8% | ||
| Q3 24 | -2.4% | 13.5% | ||
| Q2 24 | -8.2% | 13.0% | ||
| Q1 24 | 4.3% | 11.0% |
净利率ARATI
| Q4 25 | 14.4% | 8.2% | ||
| Q3 25 | 7.1% | 9.8% | ||
| Q2 25 | 12.8% | 8.8% | ||
| Q1 25 | 16.2% | 8.5% | ||
| Q4 24 | 13.6% | 11.7% | ||
| Q3 24 | -2.4% | 7.9% | ||
| Q2 24 | -7.6% | 7.5% | ||
| Q1 24 | 3.1% | 6.3% |
每股收益（稀释后）ARATI
| Q4 25 | $0.63 | $0.70 | ||
| Q3 25 | $0.24 | $0.78 | ||
| Q2 25 | $0.50 | $0.70 | ||
| Q1 25 | $0.66 | $0.67 | ||
| Q4 24 | $0.48 | $0.94 | ||
| Q3 24 | $-0.11 | $0.57 | ||
| Q2 24 | $-0.26 | $0.58 | ||
| Q1 24 | $0.07 | $0.46 |
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 | — | $416.7M |
| 总债务越低越好 | — | $1.7B |
| 股东权益账面价值 | $7.6B | $1.8B |
| 总资产 | $13.2B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.95× |
8季度趋势，按日历期对齐
现金及短期投资ARATI
| Q4 25 | — | $416.7M | ||
| Q3 25 | — | $372.2M | ||
| Q2 25 | — | $319.6M | ||
| Q1 25 | — | $475.8M | ||
| Q4 24 | — | $721.2M | ||
| Q3 24 | — | $406.6M | ||
| Q2 24 | — | $425.6M | ||
| Q1 24 | — | $394.4M |
总债务ARATI
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | — | $2.1B |
股东权益ARATI
| Q4 25 | $7.6B | $1.8B | ||
| Q3 25 | $7.3B | $1.7B | ||
| Q2 25 | $7.3B | $1.7B | ||
| Q1 25 | $7.2B | $1.9B | ||
| Q4 24 | $7.0B | $1.9B | ||
| Q3 24 | $7.0B | $1.8B | ||
| Q2 24 | $7.0B | $1.4B | ||
| Q1 24 | $7.1B | $1.3B |
总资产ARATI
| Q4 25 | $13.2B | $5.1B | ||
| Q3 25 | $12.9B | $5.0B | ||
| Q2 25 | $12.8B | $5.0B | ||
| Q1 25 | $13.0B | $5.2B | ||
| Q4 24 | $13.0B | $5.2B | ||
| Q3 24 | $13.2B | $5.1B | ||
| Q2 24 | $13.4B | $4.9B | ||
| Q1 24 | $13.5B | $4.8B |
负债/权益比ARATI
| Q4 25 | — | 0.95× | ||
| Q3 25 | — | 1.00× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 0.93× | ||
| Q3 24 | — | 1.04× | ||
| Q2 24 | — | 1.37× | ||
| Q1 24 | — | 1.70× |
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 | $370.7M | $315.8M |
| 自由现金流经营现金流 - 资本支出 | — | $223.1M |
| 自由现金流率自由现金流/营收 | — | 19.0% |
| 资本支出强度资本支出/营收 | — | 7.9% |
| 现金转化率经营现金流/净利润 | 1.83× | 3.27× |
| 过去12个月自由现金流最近4个季度 | — | $333.7M |
8季度趋势，按日历期对齐
经营现金流ARATI
| Q4 25 | $370.7M | $315.8M | ||
| Q3 25 | $310.1M | $229.5M | ||
| Q2 25 | $492.4M | $161.5M | ||
| Q1 25 | $457.7M | $-92.5M | ||
| Q4 24 | $278.0M | $380.9M | ||
| Q3 24 | $166.2M | $24.0M | ||
| Q2 24 | $143.5M | $101.1M | ||
| Q1 24 | $261.6M | $-98.8M |
自由现金流ARATI
| Q4 25 | — | $223.1M | ||
| Q3 25 | — | $167.0M | ||
| Q2 25 | — | $89.4M | ||
| Q1 25 | — | $-145.8M | ||
| Q4 24 | — | $333.6M | ||
| Q3 24 | — | $-41.8M | ||
| Q2 24 | — | $40.9M | ||
| Q1 24 | — | $-164.6M |
自由现金流率ARATI
| Q4 25 | — | 19.0% | ||
| Q3 25 | — | 14.8% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | -12.7% | ||
| Q4 24 | — | 28.4% | ||
| Q3 24 | — | -4.0% | ||
| Q2 24 | — | 3.7% | ||
| Q1 24 | — | -15.8% |
资本支出强度ARATI
| Q4 25 | — | 7.9% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | — | 4.0% | ||
| Q3 24 | — | 6.3% | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | 6.3% |
现金转化率ARATI
| Q4 25 | 1.83× | 3.27× | ||
| Q3 25 | 3.62× | 2.09× | ||
| Q2 25 | 2.96× | 1.60× | ||
| Q1 25 | 2.09× | -0.95× | ||
| Q4 24 | 1.75× | 2.78× | ||
| Q3 24 | — | 0.29× | ||
| Q2 24 | — | 1.23× | ||
| Q1 24 | 7.55× | -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
AR
| Natural Gas Production | $773.6M | 55% |
| Natural Gas Liquids Sales C3Ngls | $378.1M | 27% |
| Other | $97.3M | 7% |
| Natural Gas Liquids Sales Ethane | $96.1M | 7% |
| Oil And Condensate | $34.8M | 2% |
| Marketings | $31.7M | 2% |
ATI
| Other | $527.1M | 45% |
| Advanced Alloys Solutions | $333.5M | 28% |
| Airframes Commercial | $82.0M | 7% |
| Defense | $73.7M | 6% |
| Electronics Market | $53.1M | 5% |
| Internal Customers | $50.9M | 4% |
| Specialty Energy | $29.3M | 2% |
| Medical Market | $12.2M | 1% |
| Construction Mining Market | $7.2M | 1% |
| Other Market | $5.6M | 0% |
| Conventional Energy | $1.9M | 0% |
| Automotive Market | $600.0K | 0% |
