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ANTERO RESOURCES Corp（AR）与博士伦健康（BHC）财务数据对比。点击上方公司名可切换其他公司
博士伦健康的季度营收约是ANTERO RESOURCES Corp的2.0倍（$2.8B vs $1.4B），ANTERO RESOURCES Corp净利率更高（14.4% vs -3.7%，领先18.1%），ANTERO RESOURCES Corp同比增速更快（20.8% vs 9.3%），过去两年博士伦健康的营收复合增速更高（14.0% vs 12.2%）
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。
博士伦健康公司（Bausch Health）是一家业务多元化的北美跨国制药企业，全球总部位于加拿大魁北克省拉瓦尔，美国总部设在新泽西州布里奇沃特。公司专注于胃肠病、肝病、神经科、皮肤科、牙科、医疗美容等领域的药物研发、生产及销售，同时提供品牌药和仿制药产品，业务覆盖全球市场。
AR vs BHC — 直观对比
营收规模更大
BHC
是对方的2.0倍
$1.4B
营收增速更快
AR
高出11.5%
9.3%
净利率更高
AR
高出18.1%
-3.7%
两年增速更快
BHC
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.8B |
| 净利润 | $202.9M | $-103.0M |
| 毛利率 | — | — |
| 营业利润率 | 20.5% | 17.0% |
| 净利率 | 14.4% | -3.7% |
| 营收同比 | 20.8% | 9.3% |
| 净利润同比 | 27.8% | -205.1% |
| 每股收益（稀释后） | $0.63 | $-0.30 |
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ARBHC
| Q4 25 | $1.4B | $2.8B | ||
| Q3 25 | $1.2B | $2.7B | ||
| Q2 25 | $1.3B | $2.5B | ||
| Q1 25 | $1.4B | $2.3B | ||
| Q4 24 | $1.2B | $2.6B | ||
| Q3 24 | $1.1B | $2.5B | ||
| Q2 24 | $978.7M | $2.4B | ||
| Q1 24 | $1.1B | $2.2B |
净利润ARBHC
| Q4 25 | $202.9M | $-103.0M | ||
| Q3 25 | $85.6M | $179.0M | ||
| Q2 25 | $166.6M | $148.0M | ||
| Q1 25 | $219.5M | $-58.0M | ||
| Q4 24 | $158.8M | $98.0M | ||
| Q3 24 | $-25.2M | $-85.0M | ||
| Q2 24 | $-74.6M | $10.0M | ||
| Q1 24 | $34.7M | $-64.0M |
营业利润率ARBHC
| Q4 25 | 20.5% | 17.0% | ||
| Q3 25 | 9.7% | 23.1% | ||
| Q2 25 | 15.8% | 17.5% | ||
| Q1 25 | 20.1% | 12.2% | ||
| Q4 24 | 4.9% | 21.8% | ||
| Q3 24 | -2.4% | 12.7% | ||
| Q2 24 | -8.2% | 16.2% | ||
| Q1 24 | 4.3% | 13.1% |
净利率ARBHC
| Q4 25 | 14.4% | -3.7% | ||
| Q3 25 | 7.1% | 6.7% | ||
| Q2 25 | 12.8% | 5.8% | ||
| Q1 25 | 16.2% | -2.6% | ||
| Q4 24 | 13.6% | 3.8% | ||
| Q3 24 | -2.4% | -3.4% | ||
| Q2 24 | -7.6% | 0.4% | ||
| Q1 24 | 3.1% | -3.0% |
每股收益（稀释后）ARBHC
| Q4 25 | $0.63 | $-0.30 | ||
| Q3 25 | $0.24 | $0.48 | ||
| Q2 25 | $0.50 | $0.40 | ||
| Q1 25 | $0.66 | $-0.16 | ||
| Q4 24 | $0.48 | $0.24 | ||
| Q3 24 | $-0.11 | $-0.23 | ||
| Q2 24 | $-0.26 | $0.03 | ||
| Q1 24 | $0.07 | $-0.17 |
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 | — | $1.3B |
| 总债务越低越好 | — | $20.8B |
| 股东权益账面价值 | $7.6B | $-554.0M |
| 总资产 | $13.2B | $26.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ARBHC
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | — | $1.7B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $719.0M | ||
| Q2 24 | — | $595.0M | ||
| Q1 24 | — | $733.0M |
总债务ARBHC
| Q4 25 | — | $20.8B | ||
| Q3 25 | — | $21.0B | ||
| Q2 25 | — | $21.7B | ||
| Q1 25 | — | $21.5B | ||
| Q4 24 | — | $21.6B | ||
| Q3 24 | — | $21.5B | ||
| Q2 24 | — | $21.7B | ||
| Q1 24 | — | $22.1B |
股东权益ARBHC
| Q4 25 | $7.6B | $-554.0M | ||
| Q3 25 | $7.3B | $-565.0M | ||
| Q2 25 | $7.3B | $-764.0M | ||
| Q1 25 | $7.2B | $-1.2B | ||
| Q4 24 | $7.0B | $-1.3B | ||
| Q3 24 | $7.0B | $-1.2B | ||
| Q2 24 | $7.0B | $-1.2B | ||
| Q1 24 | $7.1B | $-1.1B |
总资产ARBHC
| Q4 25 | $13.2B | $26.4B | ||
| Q3 25 | $12.9B | $26.8B | ||
| Q2 25 | $12.8B | $27.3B | ||
| Q1 25 | $13.0B | $26.4B | ||
| Q4 24 | $13.0B | $26.5B | ||
| Q3 24 | $13.2B | $26.5B | ||
| Q2 24 | $13.4B | $26.5B | ||
| Q1 24 | $13.5B | $26.9B |
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 | $495.0M |
| 自由现金流经营现金流 - 资本支出 | — | $403.0M |
| 自由现金流率自由现金流/营收 | — | 14.4% |
| 资本支出强度资本支出/营收 | — | 3.3% |
| 现金转化率经营现金流/净利润 | 1.83× | — |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流ARBHC
| Q4 25 | $370.7M | $495.0M | ||
| Q3 25 | $310.1M | $405.0M | ||
| Q2 25 | $492.4M | $289.0M | ||
| Q1 25 | $457.7M | $211.0M | ||
| Q4 24 | $278.0M | $601.0M | ||
| Q3 24 | $166.2M | $405.0M | ||
| Q2 24 | $143.5M | $380.0M | ||
| Q1 24 | $261.6M | $211.0M |
自由现金流ARBHC
| Q4 25 | — | $403.0M | ||
| Q3 25 | — | $314.0M | ||
| Q2 25 | — | $190.0M | ||
| Q1 25 | — | $96.0M | ||
| Q4 24 | — | $495.0M | ||
| Q3 24 | — | $334.0M | ||
| Q2 24 | — | $302.0M | ||
| Q1 24 | — | $129.0M |
自由现金流率ARBHC
| Q4 25 | — | 14.4% | ||
| Q3 25 | — | 11.7% | ||
| Q2 25 | — | 7.5% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 13.3% | ||
| Q2 24 | — | 12.6% | ||
| Q1 24 | — | 6.0% |
资本支出强度ARBHC
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 3.4% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.2% | ||
| Q1 24 | — | 3.8% |
现金转化率ARBHC
| Q4 25 | 1.83× | — | ||
| Q3 25 | 3.62× | 2.26× | ||
| Q2 25 | 2.96× | 1.95× | ||
| Q1 25 | 2.09× | — | ||
| Q4 24 | 1.75× | 6.13× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 38.00× | ||
| Q1 24 | 7.55× | — |
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% |
BHC
| Bausch Lomb | $1.4B | 50% |
| Salix Segment | $693.0M | 25% |
| International Rx | $306.0M | 11% |
| Diversified Segment | $255.0M | 9% |
| Solta Medical Segment | $137.0M | 5% |
