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AUTONATION, INC.（AN）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
AUTONATION, INC.的季度营收约是EchoStar CORP的1.8倍（$6.9B vs $3.8B），AUTONATION, INC.净利率更高（2.5% vs -31.8%，领先34.3%），AUTONATION, INC.同比增速更快（-3.9% vs -4.3%），AUTONATION, INC.自由现金流更多（$64.2M vs $-583.4M），过去两年AUTONATION, INC.的营收复合增速更高（3.4% vs -2.8%）
AutoNation是总部位于美国佛罗里达州劳德代尔堡的汽车零售企业，1996年由韦恩·休伊森创立，最初仅拥有12家门店，目前在全美运营超300个零售网点，提供新车、二手车销售及相关配套服务。
EchoStar Corp曾于2004年至2011年与TiVo公司发生专利纠纷，TiVo主张前者侵犯其DVR技术相关专利。该案先后由美国得克萨斯州东区联邦地区法院、联邦巡回上诉法院审理，涉及专利侵权判定、禁令条款、侵权产品改造、藐视法庭裁定及处罚等多个争议点。
AN vs SATS — 直观对比
营收规模更大
AN
是对方的1.8倍
$3.8B
营收增速更快
AN
高出0.4%
-4.3%
净利率更高
AN
高出34.3%
-31.8%
自由现金流更多
AN
多$647.6M
$-583.4M
两年增速更快
AN
近两年复合增速
-2.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.9B | $3.8B |
| 净利润 | $172.1M | $-1.2B |
| 毛利率 | 17.5% | — |
| 营业利润率 | 4.5% | -20.5% |
| 净利率 | 2.5% | -31.8% |
| 营收同比 | -3.9% | -4.3% |
| 净利润同比 | -7.5% | -460.1% |
| 每股收益（稀释后） | $4.68 | $-4.27 |
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ANSATS
| Q4 25 | $6.9B | $3.8B | ||
| Q3 25 | $7.0B | $3.6B | ||
| Q2 25 | $7.0B | $3.7B | ||
| Q1 25 | $6.7B | $3.9B | ||
| Q4 24 | $7.2B | $4.0B | ||
| Q3 24 | $6.6B | $3.9B | ||
| Q2 24 | $6.5B | $4.0B | ||
| Q1 24 | $6.5B | $4.0B |
净利润ANSATS
| Q4 25 | $172.1M | $-1.2B | ||
| Q3 25 | $215.1M | $-12.8B | ||
| Q2 25 | $86.4M | $-306.1M | ||
| Q1 25 | $175.5M | $-202.7M | ||
| Q4 24 | $186.1M | $335.2M | ||
| Q3 24 | $185.8M | $-141.8M | ||
| Q2 24 | $130.2M | $-205.6M | ||
| Q1 24 | $190.1M | $-107.4M |
毛利率ANSATS
| Q4 25 | 17.5% | — | ||
| Q3 25 | 17.6% | — | ||
| Q2 25 | 18.3% | — | ||
| Q1 25 | 18.2% | — | ||
| Q4 24 | 17.2% | — | ||
| Q3 24 | 18.0% | — | ||
| Q2 24 | 17.9% | — | ||
| Q1 24 | 18.5% | — |
营业利润率ANSATS
| Q4 25 | 4.5% | -20.5% | ||
| Q3 25 | 5.3% | -460.5% | ||
| Q2 25 | 3.1% | -5.7% | ||
| Q1 25 | 5.0% | -2.3% | ||
| Q4 24 | 4.7% | -1.6% | ||
| Q3 24 | 5.3% | -4.1% | ||
| Q2 24 | 4.2% | -1.7% | ||
| Q1 24 | 5.2% | -0.4% |
净利率ANSATS
| Q4 25 | 2.5% | -31.8% | ||
| Q3 25 | 3.1% | -353.6% | ||
| Q2 25 | 1.2% | -8.2% | ||
| Q1 25 | 2.6% | -5.2% | ||
| Q4 24 | 2.6% | 8.5% | ||
| Q3 24 | 2.8% | -3.6% | ||
| Q2 24 | 2.0% | -5.2% | ||
| Q1 24 | 2.9% | -2.7% |
每股收益（稀释后）ANSATS
| Q4 25 | $4.68 | $-4.27 | ||
| Q3 25 | $5.65 | $-44.37 | ||
| Q2 25 | $2.26 | $-1.06 | ||
| Q1 25 | $4.45 | $-0.71 | ||
| Q4 24 | $4.62 | $1.24 | ||
| Q3 24 | $4.61 | $-0.52 | ||
| Q2 24 | $3.20 | $-0.76 | ||
| Q1 24 | $4.49 | $-0.40 |
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 | $58.6M | $3.0B |
| 总债务越低越好 | $3.7B | $18.7B |
| 股东权益账面价值 | $2.3B | $5.8B |
| 总资产 | $14.4B | $43.0B |
| 负债/权益比越低杠杆越低 | 1.58× | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资ANSATS
| Q4 25 | $58.6M | $3.0B | ||
| Q3 25 | $97.6M | $3.9B | ||
| Q2 25 | $62.9M | $4.3B | ||
| Q1 25 | $70.5M | $5.1B | ||
| Q4 24 | $59.8M | $5.5B | ||
| Q3 24 | $60.2M | $674.4M | ||
| Q2 24 | $85.9M | $520.6M | ||
| Q1 24 | $60.3M | $766.4M |
总债务ANSATS
| Q4 25 | $3.7B | $18.7B | ||
| Q3 25 | — | $21.8B | ||
| Q2 25 | — | $25.4B | ||
| Q1 25 | $3.1B | $25.3B | ||
| Q4 24 | $2.6B | $25.7B | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $3.1B | $951.0M |
股东权益ANSATS
| Q4 25 | $2.3B | $5.8B | ||
| Q3 25 | $2.5B | $7.0B | ||
| Q2 25 | $2.5B | $19.7B | ||
| Q1 25 | $2.4B | $20.0B | ||
| Q4 24 | $2.5B | $20.2B | ||
| Q3 24 | $2.4B | $19.4B | ||
| Q2 24 | $2.2B | $19.6B | ||
| Q1 24 | $2.4B | $19.8B |
总资产ANSATS
| Q4 25 | $14.4B | $43.0B | ||
| Q3 25 | $14.2B | $45.3B | ||
| Q2 25 | $13.6B | $59.9B | ||
| Q1 25 | $13.3B | $60.6B | ||
| Q4 24 | $13.0B | $60.9B | ||
| Q3 24 | $12.9B | $57.5B | ||
| Q2 24 | $12.8B | $55.3B | ||
| Q1 24 | $12.0B | $55.6B |
负债/权益比ANSATS
| Q4 25 | 1.58× | 3.24× | ||
| Q3 25 | — | 3.13× | ||
| Q2 25 | — | 1.29× | ||
| Q1 25 | 1.29× | 1.27× | ||
| Q4 24 | 1.06× | 1.27× | ||
| Q3 24 | 1.32× | — | ||
| Q2 24 | 1.43× | — | ||
| Q1 24 | 1.32× | 0.05× |
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 | $150.5M | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $64.2M | $-583.4M |
| 自由现金流率自由现金流/营收 | 0.9% | -15.4% |
| 资本支出强度资本支出/营收 | 1.2% | 4.2% |
| 现金转化率经营现金流/净利润 | 0.87× | — |
| 过去12个月自由现金流最近4个季度 | $-197.5M | $-1.1B |
8季度趋势，按日历期对齐
经营现金流ANSATS
| Q4 25 | $150.5M | $-425.3M | ||
| Q3 25 | $191.7M | $111.7M | ||
| Q2 25 | $-177.8M | $7.5M | ||
| Q1 25 | $-52.5M | $206.8M | ||
| Q4 24 | $149.8M | $45.6M | ||
| Q3 24 | $-70.0M | $276.2M | ||
| Q2 24 | $-59.6M | $479.7M | ||
| Q1 24 | $294.5M | $451.3M |
自由现金流ANSATS
| Q4 25 | $64.2M | $-583.4M | ||
| Q3 25 | $122.8M | $-144.4M | ||
| Q2 25 | $-256.8M | $-285.7M | ||
| Q1 25 | $-127.7M | $-51.7M | ||
| Q4 24 | $83.5M | $-298.7M | ||
| Q3 24 | $-151.0M | $-57.5M | ||
| Q2 24 | $-147.1M | $132.4M | ||
| Q1 24 | $200.8M | $-68.4M |
自由现金流率ANSATS
| Q4 25 | 0.9% | -15.4% | ||
| Q3 25 | 1.7% | -4.0% | ||
| Q2 25 | -3.7% | -7.7% | ||
| Q1 25 | -1.9% | -1.3% | ||
| Q4 24 | 1.2% | -7.5% | ||
| Q3 24 | -2.3% | -1.5% | ||
| Q2 24 | -2.3% | 3.3% | ||
| Q1 24 | 3.1% | -1.7% |
资本支出强度ANSATS
| Q4 25 | 1.2% | 4.2% | ||
| Q3 25 | 1.0% | 7.1% | ||
| Q2 25 | 1.1% | 7.9% | ||
| Q1 25 | 1.1% | 6.7% | ||
| Q4 24 | 0.9% | 8.7% | ||
| Q3 24 | 1.2% | 8.6% | ||
| Q2 24 | 1.4% | 8.8% | ||
| Q1 24 | 1.4% | 12.9% |
现金转化率ANSATS
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.89× | — | ||
| Q2 25 | -2.06× | — | ||
| Q1 25 | -0.30× | — | ||
| Q4 24 | 0.80× | 0.14× | ||
| Q3 24 | -0.38× | — | ||
| Q2 24 | -0.46× | — | ||
| Q1 24 | 1.55× | — |
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
AN
| New Vehicle | $3.4B | 50% |
| Transferred At Point In Time | $1.7B | 24% |
| Parts And Service | $1.2B | 18% |
| Finance And Insurance Net | $369.4M | 5% |
| Transferred Over Time | $221.4M | 3% |
| Other | $3.5M | 0% |
SATS
| Pay Tv | $2.4B | 62% |
| Wireless Services And Related Revenue | $846.5M | 22% |
| Equipment Sales And Other Revenue | $346.5M | 9% |
| Broadband And Satellite Services And Other Revenue | $264.1M | 7% |
