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Enact Holdings, Inc.（ACT）与Madison Square Garden Entertainment Corp.（MSGE）财务数据对比。点击上方公司名可切换其他公司
Madison Square Garden Entertainment Corp.的季度营收约是Enact Holdings, Inc.的1.4倍（$424.8M vs $312.7M），Madison Square Garden Entertainment Corp.同比增速更快（12.5% vs 3.6%），过去两年Madison Square Garden Entertainment Corp.的营收复合增速更高（48.9% vs 3.6%）
Enact Holdings, Inc.是美国领先的私人抵押贷款保险服务商，为银行、信用社等各类住宅抵押贷款机构提供风险缓释解决方案，帮助首付较低的购房者获得可负担的住房贷款，助力更多美国普通消费者实现安居需求。
麦迪逊广场花园娱乐公司是总部位于美国纽约的体育控股企业，依托麦迪逊广场花园的核心资源，在体育赛事运营、体育IP管理及相关商业化领域拥有深厚行业积累与广泛影响力。
ACT vs MSGE — 直观对比
营收规模更大
MSGE
是对方的1.4倍
$312.7M
营收增速更快
MSGE
高出8.9%
3.6%
两年增速更快
MSGE
近两年复合增速
3.6%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $312.7M | $424.8M |
| 净利润 | — | $92.7M |
| 毛利率 | — | — |
| 营业利润率 | 71.3% | 38.6% |
| 净利率 | — | 21.8% |
| 营收同比 | 3.6% | 12.5% |
| 净利润同比 | — | 22.2% |
| 每股收益（稀释后） | $1.23 | $1.94 |
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ACTMSGE
| Q4 25 | $312.7M | $424.8M | ||
| Q3 25 | $311.5M | $154.1M | ||
| Q2 25 | $304.9M | $145.1M | ||
| Q1 25 | $306.8M | $206.0M | ||
| Q4 24 | $301.8M | $377.6M | ||
| Q3 24 | $309.6M | $134.1M | ||
| Q2 24 | $298.8M | $177.6M | ||
| Q1 24 | $291.6M | $191.6M |
净利润ACTMSGE
| Q4 25 | — | $92.7M | ||
| Q3 25 | — | $-21.7M | ||
| Q2 25 | — | $-27.2M | ||
| Q1 25 | — | $8.0M | ||
| Q4 24 | — | $75.9M | ||
| Q3 24 | — | $-19.3M | ||
| Q2 24 | — | $66.9M | ||
| Q1 24 | — | $2.8M |
营业利润率ACTMSGE
| Q4 25 | 71.3% | 38.6% | ||
| Q3 25 | 67.4% | -19.3% | ||
| Q2 25 | 70.4% | -17.7% | ||
| Q1 25 | 68.9% | 13.3% | ||
| Q4 24 | 68.9% | 36.8% | ||
| Q3 24 | 74.1% | -13.8% | ||
| Q2 24 | 78.6% | -5.0% | ||
| Q1 24 | 70.6% | 8.8% |
净利率ACTMSGE
| Q4 25 | — | 21.8% | ||
| Q3 25 | — | -14.0% | ||
| Q2 25 | — | -18.7% | ||
| Q1 25 | — | 3.9% | ||
| Q4 24 | — | 20.1% | ||
| Q3 24 | — | -14.4% | ||
| Q2 24 | — | 37.7% | ||
| Q1 24 | — | 1.5% |
每股收益（稀释后）ACTMSGE
| Q4 25 | $1.23 | $1.94 | ||
| Q3 25 | $1.10 | $-0.46 | ||
| Q2 25 | $1.11 | $-0.56 | ||
| Q1 25 | $1.08 | $0.17 | ||
| Q4 24 | $1.05 | $1.56 | ||
| Q3 24 | $1.15 | $-0.40 | ||
| Q2 24 | $1.16 | $1.32 | ||
| Q1 24 | $1.01 | $0.06 |
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 | $582.5M | $157.1M |
| 总债务越低越好 | $744.5M | $554.6M |
| 股东权益账面价值 | $5.4B | $36.0M |
| 总资产 | $6.9B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.14× | 15.40× |
8季度趋势，按日历期对齐
现金及短期投资ACTMSGE
| Q4 25 | $582.5M | $157.1M | ||
| Q3 25 | $545.6M | $29.9M | ||
| Q2 25 | $616.0M | $43.0M | ||
| Q1 25 | $639.0M | $89.0M | ||
| Q4 24 | $602.8M | $54.9M | ||
| Q3 24 | $674.9M | $37.3M | ||
| Q2 24 | $711.3M | $33.3M | ||
| Q1 24 | $624.3M | $28.0M |
总债务ACTMSGE
| Q4 25 | $744.5M | $554.6M | ||
| Q3 25 | $744.1M | $581.7M | ||
| Q2 25 | $743.8M | $568.8M | ||
| Q1 25 | $743.4M | $577.4M | ||
| Q4 24 | $743.0M | $584.7M | ||
| Q3 24 | $742.7M | $647.0M | ||
| Q2 24 | $742.4M | $599.2M | ||
| Q1 24 | $746.1M | $602.5M |
股东权益ACTMSGE
| Q4 25 | $5.4B | $36.0M | ||
| Q3 25 | $5.3B | $-65.8M | ||
| Q2 25 | $5.2B | $-13.3M | ||
| Q1 25 | $5.1B | $9.5M | ||
| Q4 24 | $5.0B | $10.3M | ||
| Q3 24 | $5.0B | $-48.7M | ||
| Q2 24 | $4.8B | $-23.2M | ||
| Q1 24 | $4.7B | $-94.6M |
总资产ACTMSGE
| Q4 25 | $6.9B | $1.8B | ||
| Q3 25 | $6.9B | $1.7B | ||
| Q2 25 | $6.8B | $1.7B | ||
| Q1 25 | $6.7B | $1.7B | ||
| Q4 24 | $6.5B | $1.6B | ||
| Q3 24 | $6.6B | $1.6B | ||
| Q2 24 | $6.3B | $1.6B | ||
| Q1 24 | $6.3B | $1.5B |
负债/权益比ACTMSGE
| Q4 25 | 0.14× | 15.40× | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.14× | — | ||
| Q1 25 | 0.15× | 60.61× | ||
| Q4 24 | 0.15× | 56.61× | ||
| Q3 24 | 0.15× | — | ||
| Q2 24 | 0.15× | — | ||
| Q1 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 | $724.5M | $164.4M |
| 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 | — | 1.77× |
| 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ACTMSGE
| Q4 25 | $724.5M | $164.4M | ||
| Q3 25 | $192.0M | $19.8M | ||
| Q2 25 | $119.5M | $-27.0M | ||
| Q1 25 | $226.7M | $56.8M | ||
| Q4 24 | $686.3M | $112.9M | ||
| Q3 24 | $188.1M | $-27.4M | ||
| Q2 24 | $144.7M | $212.0K | ||
| Q1 24 | $187.3M | $5.8M |
现金转化率ACTMSGE
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 7.07× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 2.08× |
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
ACT
暂无分部数据
MSGE
| Ticketing And Venue License Fee Revenues | $263.5M | 62% |
| Food Beverage And Merchandise Revenues | $64.3M | 15% |
| Related Party | $43.9M | 10% |
| Arena Licensing Fees And Other Leasing Revenue | $35.2M | 8% |
| Other | $15.9M | 4% |
