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ANTERO RESOURCES Corp（AR）与欢聚集团（JOYY）财务数据对比。点击上方公司名可切换其他公司
欢聚集团的季度营收约是ANTERO RESOURCES Corp的1.1倍（$1.5B vs $1.4B），ANTERO RESOURCES Corp净利率更高（14.4% vs 10.4%，领先4.0%），过去两年欢聚集团的营收复合增速更高（16.8% 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。
欢聚集团是全球化社交媒体科技企业，主营直播、短视频、社交互动类数字娱乐服务，核心产品覆盖东南亚、中东、拉美等多个新兴市场，为全球用户提供丰富的沉浸式互动内容体验。
AR vs JOYY — 直观对比
营收规模更大
JOYY
是对方的1.1倍
$1.4B
净利率更高
AR
高出4.0%
10.4%
两年增速更快
JOYY
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.5B |
| 净利润 | $202.9M | $160.1M |
| 毛利率 | — | 36.1% |
| 营业利润率 | 20.5% | 2.4% |
| 净利率 | 14.4% | 10.4% |
| 营收同比 | 20.8% | — |
| 净利润同比 | 27.8% | — |
| 每股收益（稀释后） | $0.63 | — |
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ARJOYY
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.2B | $1.5B | ||
| Q2 25 | $1.3B | $1.0B | ||
| Q1 25 | $1.4B | $494.4M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | $1.7B | ||
| Q2 24 | $978.7M | $1.1B | ||
| Q1 24 | $1.1B | $564.6M |
净利润ARJOYY
| Q4 25 | $202.9M | — | ||
| Q3 25 | $85.6M | $160.1M | ||
| Q2 25 | $166.6M | $100.9M | ||
| Q1 25 | $219.5M | $42.9M | ||
| Q4 24 | $158.8M | — | ||
| Q3 24 | $-25.2M | $143.9M | ||
| Q2 24 | $-74.6M | $87.9M | ||
| Q1 24 | $34.7M | $40.2M |
毛利率ARJOYY
| Q4 25 | — | — | ||
| Q3 25 | — | 36.1% | ||
| Q2 25 | — | 36.3% | ||
| Q1 25 | — | 36.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 35.7% | ||
| Q2 24 | — | 34.9% | ||
| Q1 24 | — | 34.6% |
营业利润率ARJOYY
| Q4 25 | 20.5% | — | ||
| Q3 25 | 9.7% | 2.4% | ||
| Q2 25 | 15.8% | 1.8% | ||
| Q1 25 | 20.1% | 2.5% | ||
| Q4 24 | 4.9% | — | ||
| Q3 24 | -2.4% | 1.3% | ||
| Q2 24 | -8.2% | 0.5% | ||
| Q1 24 | 4.3% | 0.6% |
净利率ARJOYY
| Q4 25 | 14.4% | — | ||
| Q3 25 | 7.1% | 10.4% | ||
| Q2 25 | 12.8% | 10.1% | ||
| Q1 25 | 16.2% | 8.7% | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | -2.4% | 8.5% | ||
| Q2 24 | -7.6% | 7.8% | ||
| Q1 24 | 3.1% | 7.1% |
每股收益（稀释后）ARJOYY
| Q4 25 | $0.63 | — | ||
| Q3 25 | $0.24 | — | ||
| Q2 25 | $0.50 | — | ||
| Q1 25 | $0.66 | — | ||
| Q4 24 | $0.48 | — | ||
| Q3 24 | $-0.11 | — | ||
| Q2 24 | $-0.26 | — | ||
| Q1 24 | $0.07 | — |
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 | — | $383.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.6B | $6.6B |
| 总资产 | $13.2B | $7.5B |
| 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ARJOYY
| Q4 25 | — | — | ||
| Q3 25 | — | $383.8M | ||
| Q2 25 | — | $401.0M | ||
| Q1 25 | — | $801.5M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $481.8M | ||
| Q2 24 | — | $607.1M | ||
| Q1 24 | — | $728.2M |
股东权益ARJOYY
| Q4 25 | $7.6B | — | ||
| Q3 25 | $7.3B | $6.6B | ||
| Q2 25 | $7.3B | $6.6B | ||
| Q1 25 | $7.2B | $6.6B | ||
| Q4 24 | $7.0B | — | ||
| Q3 24 | $7.0B | $5.3B | ||
| Q2 24 | $7.0B | $5.3B | ||
| Q1 24 | $7.1B | $5.3B |
总资产ARJOYY
| Q4 25 | $13.2B | — | ||
| Q3 25 | $12.9B | $7.5B | ||
| Q2 25 | $12.8B | $7.5B | ||
| Q1 25 | $13.0B | $7.6B | ||
| Q4 24 | $13.0B | — | ||
| Q3 24 | $13.2B | $8.1B | ||
| Q2 24 | $13.4B | $8.1B | ||
| Q1 24 | $13.5B | $8.6B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流ARJOYY
| Q4 25 | $370.7M | — | ||
| Q3 25 | $310.1M | — | ||
| Q2 25 | $492.4M | — | ||
| Q1 25 | $457.7M | — | ||
| Q4 24 | $278.0M | — | ||
| Q3 24 | $166.2M | — | ||
| Q2 24 | $143.5M | — | ||
| Q1 24 | $261.6M | — |
现金转化率ARJOYY
| Q4 25 | 1.83× | — | ||
| Q3 25 | 3.62× | — | ||
| Q2 25 | 2.96× | — | ||
| Q1 25 | 2.09× | — | ||
| Q4 24 | 1.75× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
JOYY
| Live streaming | $1.1B | 74% |
| Advertising | $297.3M | 19% |
| Others | $109.8M | 7% |
