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ANTERO RESOURCES Corp（AR）与梅特勒-托利多（MTD）财务数据对比。点击上方公司名可切换其他公司
ANTERO RESOURCES Corp的季度营收约是梅特勒-托利多的1.2倍（$1.4B vs $1.1B），梅特勒-托利多净利率更高（25.3% vs 14.4%，领先10.9%），ANTERO RESOURCES Corp同比增速更快（20.8% vs 8.1%），过去两年ANTERO RESOURCES Corp的营收复合增速更高（12.2% vs 10.5%）
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。
梅特勒-托利多是全球知名的精密仪器及服务跨国供应商，业务覆盖实验室、工业生产、产品检测、食品零售等应用场景，旗下产品广泛应用于生命科学、食品、化工等众多行业的科研、质量管控及生产制造环节。
AR vs MTD — 直观对比
营收规模更大
AR
是对方的1.2倍
$1.1B
营收增速更快
AR
高出12.7%
8.1%
净利率更高
MTD
高出10.9%
14.4%
两年增速更快
AR
近两年复合增速
10.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.1B |
| 净利润 | $202.9M | $285.8M |
| 毛利率 | — | 59.8% |
| 营业利润率 | 20.5% | 29.1% |
| 净利率 | 14.4% | 25.3% |
| 营收同比 | 20.8% | 8.1% |
| 净利润同比 | 27.8% | 13.3% |
| 每股收益（稀释后） | $0.63 | $13.91 |
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ARMTD
| Q4 25 | $1.4B | $1.1B | ||
| Q3 25 | $1.2B | $1.0B | ||
| Q2 25 | $1.3B | $983.2M | ||
| Q1 25 | $1.4B | $883.7M | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $1.1B | $954.5M | ||
| Q2 24 | $978.7M | $946.8M | ||
| Q1 24 | $1.1B | $925.9M |
净利润ARMTD
| Q4 25 | $202.9M | $285.8M | ||
| Q3 25 | $85.6M | $217.5M | ||
| Q2 25 | $166.6M | $202.3M | ||
| Q1 25 | $219.5M | $163.6M | ||
| Q4 24 | $158.8M | $252.3M | ||
| Q3 24 | $-25.2M | $211.5M | ||
| Q2 24 | $-74.6M | $221.8M | ||
| Q1 24 | $34.7M | $177.5M |
毛利率ARMTD
| Q4 25 | — | 59.8% | ||
| Q3 25 | — | 59.2% | ||
| Q2 25 | — | 59.0% | ||
| Q1 25 | — | 59.5% | ||
| Q4 24 | — | 61.2% | ||
| Q3 24 | — | 60.0% | ||
| Q2 24 | — | 59.7% | ||
| Q1 24 | — | 59.2% |
营业利润率ARMTD
| Q4 25 | 20.5% | 29.1% | ||
| Q3 25 | 9.7% | 26.1% | ||
| Q2 25 | 15.8% | 25.3% | ||
| Q1 25 | 20.1% | 22.9% | ||
| Q4 24 | 4.9% | 30.1% | ||
| Q3 24 | -2.4% | 27.1% | ||
| Q2 24 | -8.2% | 25.7% | ||
| Q1 24 | 4.3% | 23.8% |
净利率ARMTD
| Q4 25 | 14.4% | 25.3% | ||
| Q3 25 | 7.1% | 21.1% | ||
| Q2 25 | 12.8% | 20.6% | ||
| Q1 25 | 16.2% | 18.5% | ||
| Q4 24 | 13.6% | 24.1% | ||
| Q3 24 | -2.4% | 22.2% | ||
| Q2 24 | -7.6% | 23.4% | ||
| Q1 24 | 3.1% | 19.2% |
每股收益（稀释后）ARMTD
| Q4 25 | $0.63 | $13.91 | ||
| Q3 25 | $0.24 | $10.57 | ||
| Q2 25 | $0.50 | $9.76 | ||
| Q1 25 | $0.66 | $7.81 | ||
| Q4 24 | $0.48 | $11.91 | ||
| Q3 24 | $-0.11 | $9.96 | ||
| Q2 24 | $-0.26 | $10.37 | ||
| Q1 24 | $0.07 | $8.24 |
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 | — | — |
| 总债务越低越好 | — | $2.1B |
| 股东权益账面价值 | $7.6B | $-23.6M |
| 总资产 | $13.2B | $3.7B |
| 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ARMTD
| Q4 25 | — | — | ||
| Q3 25 | — | $69.1M | ||
| Q2 25 | — | $61.8M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $59.4M | ||
| Q3 24 | — | $71.6M | ||
| Q2 24 | — | $70.8M | ||
| Q1 24 | — | — |
总债务ARMTD
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.7B | ||
| Q1 24 | — | — |
股东权益ARMTD
| Q4 25 | $7.6B | $-23.6M | ||
| Q3 25 | $7.3B | $-249.2M | ||
| Q2 25 | $7.3B | $-258.8M | ||
| Q1 25 | $7.2B | $-182.0M | ||
| Q4 24 | $7.0B | $-126.9M | ||
| Q3 24 | $7.0B | $-154.4M | ||
| Q2 24 | $7.0B | $-152.8M | ||
| Q1 24 | $7.1B | $-158.7M |
总资产ARMTD
| Q4 25 | $13.2B | $3.7B | ||
| Q3 25 | $12.9B | $3.5B | ||
| Q2 25 | $12.8B | $3.4B | ||
| Q1 25 | $13.0B | $3.2B | ||
| Q4 24 | $13.0B | $3.2B | ||
| Q3 24 | $13.2B | $3.3B | ||
| Q2 24 | $13.4B | $3.2B | ||
| Q1 24 | $13.5B | $3.3B |
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 | $225.6M |
| 自由现金流经营现金流 - 资本支出 | — | $184.1M |
| 自由现金流率自由现金流/营收 | — | 16.3% |
| 资本支出强度资本支出/营收 | — | 3.7% |
| 现金转化率经营现金流/净利润 | 1.83× | 0.79× |
| 过去12个月自由现金流最近4个季度 | — | $848.6M |
8季度趋势，按日历期对齐
经营现金流ARMTD
| Q4 25 | $370.7M | $225.6M | ||
| Q3 25 | $310.1M | $299.4M | ||
| Q2 25 | $492.4M | $236.4M | ||
| Q1 25 | $457.7M | $194.4M | ||
| Q4 24 | $278.0M | $266.2M | ||
| Q3 24 | $166.2M | $254.7M | ||
| Q2 24 | $143.5M | $257.5M | ||
| Q1 24 | $261.6M | $190.0M |
自由现金流ARMTD
| Q4 25 | — | $184.1M | ||
| Q3 25 | — | $274.9M | ||
| Q2 25 | — | $212.5M | ||
| Q1 25 | — | $177.2M | ||
| Q4 24 | — | $224.9M | ||
| Q3 24 | — | $233.2M | ||
| Q2 24 | — | $233.7M | ||
| Q1 24 | — | $172.6M |
自由现金流率ARMTD
| Q4 25 | — | 16.3% | ||
| Q3 25 | — | 26.7% | ||
| Q2 25 | — | 21.6% | ||
| Q1 25 | — | 20.1% | ||
| Q4 24 | — | 21.5% | ||
| Q3 24 | — | 24.4% | ||
| Q2 24 | — | 24.7% | ||
| Q1 24 | — | 18.6% |
资本支出强度ARMTD
| Q4 25 | — | 3.7% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 2.0% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 1.9% |
现金转化率ARMTD
| Q4 25 | 1.83× | 0.79× | ||
| Q3 25 | 3.62× | 1.38× | ||
| Q2 25 | 2.96× | 1.17× | ||
| Q1 25 | 2.09× | 1.19× | ||
| Q4 24 | 1.75× | 1.06× | ||
| Q3 24 | — | 1.20× | ||
| Q2 24 | — | 1.16× | ||
| Q1 24 | 7.55× | 1.07× |
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% |
MTD
| Products | $857.0M | 76% |
| Services | $272.8M | 24% |
