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ANTERO RESOURCES Corp（AR）与TRINET GROUP, INC.（TNET）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TRINET GROUP, INC.的1.1倍（$1.4B vs $1.2B），ANTERO RESOURCES Corp同比增速更快（20.8% vs -2.2%），过去两年ANTERO RESOURCES Corp的营收复合增速更高（12.2% vs -0.6%）
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。
TriNet Group, Inc.是一家面向中小企业的专业雇主组织，总部位于加州都柏林，服务员工规模在3至2500人之间的各类机构。可提供薪资管理、健康福利管理服务，还能为客户提供劳动法规合规、风险降低相关咨询，可作为外包人力资源部门为企业分担人事相关事务。
AR vs TNET — 直观对比
营收规模更大
AR
是对方的1.1倍
$1.2B
营收增速更快
AR
高出23.0%
-2.2%
两年增速更快
AR
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $202.9M | — |
| 毛利率 | — | — |
| 营业利润率 | 20.5% | 0.1% |
| 净利率 | 14.4% | — |
| 营收同比 | 20.8% | -2.2% |
| 净利润同比 | 27.8% | — |
| 每股收益（稀释后） | $0.63 | $0.02 |
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ARTNET
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.2B | $1.2B | ||
| Q2 25 | $1.3B | $1.2B | ||
| Q1 25 | $1.4B | $1.3B | ||
| Q4 24 | $1.2B | $1.3B | ||
| Q3 24 | $1.1B | $1.2B | ||
| Q2 24 | $978.7M | $1.2B | ||
| Q1 24 | $1.1B | $1.3B |
净利润ARTNET
| Q4 25 | $202.9M | — | ||
| Q3 25 | $85.6M | $34.0M | ||
| Q2 25 | $166.6M | $37.0M | ||
| Q1 25 | $219.5M | $85.0M | ||
| Q4 24 | $158.8M | — | ||
| Q3 24 | $-25.2M | $45.0M | ||
| Q2 24 | $-74.6M | $60.0M | ||
| Q1 24 | $34.7M | $91.0M |
营业利润率ARTNET
| Q4 25 | 20.5% | 0.1% | ||
| Q3 25 | 9.7% | 4.1% | ||
| Q2 25 | 15.8% | 4.1% | ||
| Q1 25 | 20.1% | 8.9% | ||
| Q4 24 | 4.9% | -2.9% | ||
| Q3 24 | -2.4% | 4.7% | ||
| Q2 24 | -8.2% | 6.5% | ||
| Q1 24 | 4.3% | 9.7% |
净利率ARTNET
| Q4 25 | 14.4% | — | ||
| Q3 25 | 7.1% | 2.8% | ||
| Q2 25 | 12.8% | 3.0% | ||
| Q1 25 | 16.2% | 6.6% | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | -2.4% | 3.6% | ||
| Q2 24 | -7.6% | 4.9% | ||
| Q1 24 | 3.1% | 7.2% |
每股收益（稀释后）ARTNET
| Q4 25 | $0.63 | $0.02 | ||
| Q3 25 | $0.24 | $0.70 | ||
| Q2 25 | $0.50 | $0.77 | ||
| Q1 25 | $0.66 | $1.71 | ||
| Q4 24 | $0.48 | $-0.44 | ||
| Q3 24 | $-0.11 | $0.89 | ||
| Q2 24 | $-0.26 | $1.20 | ||
| Q1 24 | $0.07 | $1.78 |
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 | — | $287.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.6B | $54.0M |
| 总资产 | $13.2B | $3.8B |
| 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ARTNET
| Q4 25 | — | $287.0M | ||
| Q3 25 | — | $321.0M | ||
| Q2 25 | — | $407.0M | ||
| Q1 25 | — | $349.0M | ||
| Q4 24 | — | $360.0M | ||
| Q3 24 | — | $301.0M | ||
| Q2 24 | — | $249.0M | ||
| Q1 24 | — | $383.0M |
股东权益ARTNET
| Q4 25 | $7.6B | $54.0M | ||
| Q3 25 | $7.3B | $110.0M | ||
| Q2 25 | $7.3B | $107.0M | ||
| Q1 25 | $7.2B | $63.0M | ||
| Q4 24 | $7.0B | $69.0M | ||
| Q3 24 | $7.0B | $129.0M | ||
| Q2 24 | $7.0B | $100.0M | ||
| Q1 24 | $7.1B | $143.0M |
总资产ARTNET
| Q4 25 | $13.2B | $3.8B | ||
| Q3 25 | $12.9B | $3.4B | ||
| Q2 25 | $12.8B | $3.7B | ||
| Q1 25 | $13.0B | $3.8B | ||
| Q4 24 | $13.0B | $4.1B | ||
| Q3 24 | $13.2B | $3.7B | ||
| Q2 24 | $13.4B | $3.7B | ||
| Q1 24 | $13.5B | $4.0B |
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 | $61.0M |
| 自由现金流经营现金流 - 资本支出 | — | $43.0M |
| 自由现金流率自由现金流/营收 | — | 3.4% |
| 资本支出强度资本支出/营收 | — | 1.4% |
| 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 | — | $234.0M |
8季度趋势，按日历期对齐
经营现金流ARTNET
| Q4 25 | $370.7M | $61.0M | ||
| Q3 25 | $310.1M | $72.0M | ||
| Q2 25 | $492.4M | $75.0M | ||
| Q1 25 | $457.7M | $95.0M | ||
| Q4 24 | $278.0M | $65.0M | ||
| Q3 24 | $166.2M | $84.0M | ||
| Q2 24 | $143.5M | $39.0M | ||
| Q1 24 | $261.6M | $91.0M |
自由现金流ARTNET
| Q4 25 | — | $43.0M | ||
| Q3 25 | — | $55.0M | ||
| Q2 25 | — | $57.0M | ||
| Q1 25 | — | $79.0M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | — | $59.0M | ||
| Q2 24 | — | $22.0M | ||
| Q1 24 | — | $73.0M |
自由现金流率ARTNET
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 4.5% | ||
| Q2 25 | — | 4.6% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 4.8% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 5.8% |
资本支出强度ARTNET
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 1.4% |
现金转化率ARTNET
| Q4 25 | 1.83× | — | ||
| Q3 25 | 3.62× | 2.12× | ||
| Q2 25 | 2.96× | 2.03× | ||
| Q1 25 | 2.09× | 1.12× | ||
| Q4 24 | 1.75× | — | ||
| Q3 24 | — | 1.87× | ||
| Q2 24 | — | 0.65× | ||
| Q1 24 | 7.55× | 1.00× |
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% |
TNET
| Insurance Services | $1.1B | 85% |
| Professional Services | $169.0M | 14% |
