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ANTERO RESOURCES Corp（AR）与美森（MATX）财务数据对比。点击上方公司名可切换其他公司
ANTERO RESOURCES Corp的季度营收约是美森的1.6倍（$1.4B vs $851.9M），美森同比增速更快（-4.3% vs -30.5%），过去两年ANTERO RESOURCES Corp的营收复合增速更高（17.6% vs 8.6%）
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。
美森公司（Matson, Inc.）是美国知名航运服务企业，总部位于夏威夷州火奴鲁鲁，成立于1882年。旗下子公司美森航运主营跨太平洋海运业务，服务覆盖夏威夷、阿拉斯加、关岛、密克罗尼西亚、太平洋诸岛、中国及日本等地区。
AR vs MATX — 直观对比
营收规模更大
AR
是对方的1.6倍
$851.9M
营收增速更快
MATX
高出26.1%
-30.5%
两年增速更快
AR
近两年复合增速
8.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $851.9M |
| 净利润 | — | $143.1M |
| 毛利率 | — | — |
| 营业利润率 | 20.1% | 16.9% |
| 净利率 | — | 16.8% |
| 营收同比 | -30.5% | -4.3% |
| 净利润同比 | — | 11.8% |
| 每股收益（稀释后） | $0.66 | $4.47 |
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ARMATX
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.4B | $851.9M | ||
| Q3 25 | $1.2B | $880.1M | ||
| Q2 25 | $1.3B | $830.5M | ||
| Q1 25 | $1.4B | $782.0M | ||
| Q4 24 | $1.2B | $890.3M | ||
| Q3 24 | $1.1B | $962.0M | ||
| Q2 24 | $978.7M | $847.4M |
净利润ARMATX
| Q1 26 | — | — | ||
| Q4 25 | $202.9M | $143.1M | ||
| Q3 25 | $85.6M | $134.7M | ||
| Q2 25 | $166.6M | $94.7M | ||
| Q1 25 | $219.5M | $72.3M | ||
| Q4 24 | $158.8M | $128.0M | ||
| Q3 24 | $-25.2M | $199.1M | ||
| Q2 24 | $-74.6M | $113.2M |
营业利润率ARMATX
| Q1 26 | 20.1% | — | ||
| Q4 25 | 20.5% | 16.9% | ||
| Q3 25 | 9.7% | 18.3% | ||
| Q2 25 | 15.8% | 13.6% | ||
| Q1 25 | 20.1% | 10.5% | ||
| Q4 24 | 4.9% | 16.6% | ||
| Q3 24 | -2.4% | 25.2% | ||
| Q2 24 | -8.2% | 14.7% |
净利率ARMATX
| Q1 26 | — | — | ||
| Q4 25 | 14.4% | 16.8% | ||
| Q3 25 | 7.1% | 15.3% | ||
| Q2 25 | 12.8% | 11.4% | ||
| Q1 25 | 16.2% | 9.2% | ||
| Q4 24 | 13.6% | 14.4% | ||
| Q3 24 | -2.4% | 20.7% | ||
| Q2 24 | -7.6% | 13.4% |
每股收益（稀释后）ARMATX
| Q1 26 | $0.66 | — | ||
| Q4 25 | $0.63 | $4.47 | ||
| Q3 25 | $0.24 | $4.24 | ||
| Q2 25 | $0.50 | $2.92 | ||
| Q1 25 | $0.66 | $2.18 | ||
| Q4 24 | $0.48 | $3.69 | ||
| Q3 24 | $-0.11 | $5.89 | ||
| Q2 24 | $-0.26 | $3.31 |
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 | — | $141.9M |
| 总债务越低越好 | $1.4B | $361.2M |
| 股东权益账面价值 | $7.6B | $2.8B |
| 总资产 | $13.2B | $4.6B |
| 负债/权益比越低杠杆越低 | 0.19× | 0.13× |
8季度趋势，按日历期对齐
现金及短期投资ARMATX
| Q1 26 | — | — | ||
| Q4 25 | — | $141.9M | ||
| Q3 25 | — | $92.7M | ||
| Q2 25 | — | $59.1M | ||
| Q1 25 | — | $122.0M | ||
| Q4 24 | — | $266.8M | ||
| Q3 24 | — | $270.3M | ||
| Q2 24 | — | $168.2M |
总债务ARMATX
| Q1 26 | $1.4B | — | ||
| Q4 25 | — | $361.2M | ||
| Q3 25 | — | $370.9M | ||
| Q2 25 | — | $341.3M | ||
| Q1 25 | — | $351.1M | ||
| Q4 24 | — | $361.2M | ||
| Q3 24 | — | $370.9M | ||
| Q2 24 | — | $381.0M |
股东权益ARMATX
| Q1 26 | $7.6B | — | ||
| Q4 25 | $7.6B | $2.8B | ||
| Q3 25 | $7.3B | $2.7B | ||
| Q2 25 | $7.3B | $2.6B | ||
| Q1 25 | $7.2B | $2.6B | ||
| Q4 24 | $7.0B | $2.7B | ||
| Q3 24 | $7.0B | $2.6B | ||
| Q2 24 | $7.0B | $2.4B |
总资产ARMATX
| Q1 26 | $13.2B | — | ||
| Q4 25 | $13.2B | $4.6B | ||
| Q3 25 | $12.9B | $4.6B | ||
| Q2 25 | $12.8B | $4.5B | ||
| Q1 25 | $13.0B | $4.5B | ||
| Q4 24 | $13.0B | $4.6B | ||
| Q3 24 | $13.2B | $4.4B | ||
| Q2 24 | $13.4B | $4.3B |
负债/权益比ARMATX
| Q1 26 | 0.19× | — | ||
| Q4 25 | — | 0.13× | ||
| Q3 25 | — | 0.14× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.15× | ||
| Q2 24 | — | 0.16× |
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 | $457.7M | $176.9M |
| 自由现金流经营现金流 - 资本支出 | — | $42.2M |
| 自由现金流率自由现金流/营收 | — | 5.0% |
| 资本支出强度资本支出/营收 | — | 15.8% |
| 现金转化率经营现金流/净利润 | — | 1.24× |
| 过去12个月自由现金流最近4个季度 | — | $153.7M |
8季度趋势，按日历期对齐
经营现金流ARMATX
| Q1 26 | $457.7M | — | ||
| Q4 25 | $370.7M | $176.9M | ||
| Q3 25 | $310.1M | $175.6M | ||
| Q2 25 | $492.4M | $105.6M | ||
| Q1 25 | $457.7M | $89.0M | ||
| Q4 24 | $278.0M | $174.7M | ||
| Q3 24 | $166.2M | $248.6M | ||
| Q2 24 | $143.5M | $307.9M |
自由现金流ARMATX
| Q1 26 | — | — | ||
| Q4 25 | — | $42.2M | ||
| Q3 25 | — | $92.4M | ||
| Q2 25 | — | $19.3M | ||
| Q1 25 | — | $-200.0K | ||
| Q4 24 | — | $49.3M | ||
| Q3 24 | — | $189.0M | ||
| Q2 24 | — | $238.1M |
自由现金流率ARMATX
| Q1 26 | — | — | ||
| Q4 25 | — | 5.0% | ||
| Q3 25 | — | 10.5% | ||
| Q2 25 | — | 2.3% | ||
| Q1 25 | — | -0.0% | ||
| Q4 24 | — | 5.5% | ||
| Q3 24 | — | 19.6% | ||
| Q2 24 | — | 28.1% |
资本支出强度ARMATX
| Q1 26 | — | — | ||
| Q4 25 | — | 15.8% | ||
| Q3 25 | — | 9.5% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 11.4% | ||
| Q4 24 | — | 14.1% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | — | 8.2% |
现金转化率ARMATX
| Q1 26 | — | — | ||
| Q4 25 | 1.83× | 1.24× | ||
| Q3 25 | 3.62× | 1.30× | ||
| Q2 25 | 2.96× | 1.12× | ||
| Q1 25 | 2.09× | 1.23× | ||
| Q4 24 | 1.75× | 1.36× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | — | 2.72× |
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 sales | $780.0M | 58% |
| Natural gas liquids sales | $561.4M | 42% |
| Oil sales | $50.3M | 4% |
| Other revenue and income | $818.0K | 0% |
MATX
| Ocean Transportation Segment | $704.2M | 83% |
| Logistics Services Segment | $147.7M | 17% |
