vs
ANTERO RESOURCES Corp（AR）与Fastenal（FAST）财务数据对比。点击上方公司名可切换其他公司
Fastenal的季度营收约是ANTERO RESOURCES Corp的1.4倍（$2.0B vs $1.4B），Fastenal净利率更高（14.5% vs 14.4%，领先0.1%），ANTERO RESOURCES Corp同比增速更快（20.8% vs 3.5%），过去两年ANTERO RESOURCES Corp的营收复合增速更高（12.2% vs 2.9%）
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。
Fastenal是1967年成立的美国上市企业，总部位于明尼苏达州威诺纳，是北美最大的紧固件分销商，同时也是工业和建筑用品的主流供应商，可提供货柜备货、智能售货柜、库存管理、物流配送等一站式供应链解决方案。
AR vs FAST — 直观对比
营收规模更大
FAST
是对方的1.4倍
$1.4B
营收增速更快
AR
高出17.3%
3.5%
净利率更高
FAST
高出0.1%
14.4%
两年增速更快
AR
近两年复合增速
2.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $2.0B |
| 净利润 | $202.9M | $293.9M |
| 毛利率 | — | 44.3% |
| 营业利润率 | 20.5% | 18.9% |
| 净利率 | 14.4% | 14.5% |
| 营收同比 | 20.8% | 3.5% |
| 净利润同比 | 27.8% | -1.6% |
| 每股收益（稀释后） | $0.63 | $-0.01 |
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ARFAST
| Q1 26 | — | $2.0B | ||
| Q4 25 | $1.4B | $2.0B | ||
| Q3 25 | $1.2B | $2.1B | ||
| Q2 25 | $1.3B | $2.1B | ||
| Q1 25 | $1.4B | $2.0B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.1B | $1.9B | ||
| Q2 24 | $978.7M | $1.9B |
净利润ARFAST
| Q1 26 | — | $293.9M | ||
| Q4 25 | $202.9M | $293.9M | ||
| Q3 25 | $85.6M | $335.5M | ||
| Q2 25 | $166.6M | $330.3M | ||
| Q1 25 | $219.5M | $298.7M | ||
| Q4 24 | $158.8M | $262.1M | ||
| Q3 24 | $-25.2M | $298.1M | ||
| Q2 24 | $-74.6M | $292.7M |
毛利率ARFAST
| Q1 26 | — | 44.3% | ||
| Q4 25 | — | 44.3% | ||
| Q3 25 | — | 45.3% | ||
| Q2 25 | — | 45.3% | ||
| Q1 25 | — | 45.1% | ||
| Q4 24 | — | 44.8% | ||
| Q3 24 | — | 44.9% | ||
| Q2 24 | — | 45.1% |
营业利润率ARFAST
| Q1 26 | — | 18.9% | ||
| Q4 25 | 20.5% | 18.9% | ||
| Q3 25 | 9.7% | 20.7% | ||
| Q2 25 | 15.8% | 21.0% | ||
| Q1 25 | 20.1% | 20.1% | ||
| Q4 24 | 4.9% | 18.9% | ||
| Q3 24 | -2.4% | 20.3% | ||
| Q2 24 | -8.2% | 20.2% |
净利率ARFAST
| Q1 26 | — | 14.5% | ||
| Q4 25 | 14.4% | 14.5% | ||
| Q3 25 | 7.1% | 15.7% | ||
| Q2 25 | 12.8% | 15.9% | ||
| Q1 25 | 16.2% | 15.2% | ||
| Q4 24 | 13.6% | 14.4% | ||
| Q3 24 | -2.4% | 15.6% | ||
| Q2 24 | -7.6% | 15.3% |
每股收益（稀释后）ARFAST
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.63 | $-0.01 | ||
| Q3 25 | $0.24 | $0.29 | ||
| Q2 25 | $0.50 | $0.29 | ||
| Q1 25 | $0.66 | $0.52 | ||
| Q4 24 | $0.48 | $0.45 | ||
| Q3 24 | $-0.11 | $0.52 | ||
| Q2 24 | $-0.26 | $0.51 |
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 | — | $276.8M |
| 总债务越低越好 | — | $125.0M |
| 股东权益账面价值 | $7.6B | $3.9B |
| 总资产 | $13.2B | $5.1B |
| 负债/权益比越低杠杆越低 | — | 0.03× |
8季度趋势，按日历期对齐
现金及短期投资ARFAST
| Q1 26 | — | $276.8M | ||
| Q4 25 | — | $276.8M | ||
| Q3 25 | — | $288.1M | ||
| Q2 25 | — | $237.8M | ||
| Q1 25 | — | $231.8M | ||
| Q4 24 | — | $255.8M | ||
| Q3 24 | — | $292.2M | ||
| Q2 24 | — | $255.5M |
总债务ARFAST
| Q1 26 | — | $125.0M | ||
| Q4 25 | — | $125.0M | ||
| Q3 25 | — | $195.0M | ||
| Q2 25 | — | $230.0M | ||
| Q1 25 | — | $200.0M | ||
| Q4 24 | — | $200.0M | ||
| Q3 24 | — | $240.0M | ||
| Q2 24 | — | $235.0M |
股东权益ARFAST
| Q1 26 | — | $3.9B | ||
| Q4 25 | $7.6B | $3.9B | ||
| Q3 25 | $7.3B | $3.9B | ||
| Q2 25 | $7.3B | $3.8B | ||
| Q1 25 | $7.2B | $3.7B | ||
| Q4 24 | $7.0B | $3.6B | ||
| Q3 24 | $7.0B | $3.6B | ||
| Q2 24 | $7.0B | $3.5B |
总资产ARFAST
| Q1 26 | — | $5.1B | ||
| Q4 25 | $13.2B | $5.1B | ||
| Q3 25 | $12.9B | $5.1B | ||
| Q2 25 | $12.8B | $5.0B | ||
| Q1 25 | $13.0B | $4.9B | ||
| Q4 24 | $13.0B | $4.7B | ||
| Q3 24 | $13.2B | $4.7B | ||
| Q2 24 | $13.4B | $4.6B |
负债/权益比ARFAST
| Q1 26 | — | 0.03× | ||
| Q4 25 | — | 0.03× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.06× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.07× |
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 | $368.2M |
| 自由现金流经营现金流 - 资本支出 | — | $308.2M |
| 自由现金流率自由现金流/营收 | — | 15.2% |
| 资本支出强度资本支出/营收 | — | 3.0% |
| 现金转化率经营现金流/净利润 | 1.83× | 1.25× |
| 过去12个月自由现金流最近4个季度 | — | $1.2B |
8季度趋势，按日历期对齐
经营现金流ARFAST
| Q1 26 | — | $368.2M | ||
| Q4 25 | $370.7M | $368.2M | ||
| Q3 25 | $310.1M | $386.9M | ||
| Q2 25 | $492.4M | $278.6M | ||
| Q1 25 | $457.7M | $262.2M | ||
| Q4 24 | $278.0M | $282.8M | ||
| Q3 24 | $166.2M | $296.9M | ||
| Q2 24 | $143.5M | $258.0M |
自由现金流ARFAST
| Q1 26 | — | $308.2M | ||
| Q4 25 | — | $308.2M | ||
| Q3 25 | — | $326.6M | ||
| Q2 25 | — | $209.3M | ||
| Q1 25 | — | $206.5M | ||
| Q4 24 | — | $222.6M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $201.9M |
自由现金流率ARFAST
| Q1 26 | — | 15.2% | ||
| Q4 25 | — | 15.2% | ||
| Q3 25 | — | 15.3% | ||
| Q2 25 | — | 10.1% | ||
| Q1 25 | — | 10.5% | ||
| Q4 24 | — | 12.2% | ||
| Q3 24 | — | 12.4% | ||
| Q2 24 | — | 10.5% |
资本支出强度ARFAST
| Q1 26 | — | 3.0% | ||
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | 3.3% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | — | 3.1% | ||
| Q2 24 | — | 2.9% |
现金转化率ARFAST
| Q1 26 | — | 1.25× | ||
| Q4 25 | 1.83× | 1.25× | ||
| Q3 25 | 3.62× | 1.15× | ||
| Q2 25 | 2.96× | 0.84× | ||
| Q1 25 | 2.09× | 0.88× | ||
| Q4 24 | 1.75× | 1.08× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 0.88× |
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% |
FAST
| Reportable Segment Aggregation Before Other Operating Segment | $1.8B | 90% |
| Other | $211.2M | 10% |
