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Artisan Partners Asset Management Inc.（APAM）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Artisan Partners Asset Management Inc.的1.3倍（$424.8M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs 21.8%，领先13.4%），Artisan Partners Asset Management Inc.同比增速更快（12.9% vs 12.5%），过去两年Madison Square Garden Entertainment Corp.的营收复合增速更高（48.9% vs 12.7%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
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。
APAM vs MSGE — 直观对比
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $424.8M |
| 净利润 | $118.1M | $92.7M |
| 毛利率 | — | — |
| 营业利润率 | 39.2% | 38.6% |
| 净利率 | 35.2% | 21.8% |
| 营收同比 | 12.9% | 12.5% |
| 净利润同比 | 34.9% | 22.2% |
| 每股收益（稀释后） | $1.36 | $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
| Q4 25 | $335.5M | $424.8M | ||
| Q3 25 | $301.3M | $154.1M | ||
| Q2 25 | $282.7M | $145.1M | ||
| Q1 25 | $277.1M | $206.0M | ||
| Q4 24 | $297.1M | $377.6M | ||
| Q3 24 | $279.6M | $134.1M | ||
| Q2 24 | $270.8M | $177.6M | ||
| Q1 24 | $264.4M | $191.6M |
| Q4 25 | $118.1M | $92.7M | ||
| Q3 25 | $66.8M | $-21.7M | ||
| Q2 25 | $67.6M | $-27.2M | ||
| Q1 25 | $61.1M | $8.0M | ||
| Q4 24 | $87.5M | $75.9M | ||
| Q3 24 | $73.0M | $-19.3M | ||
| Q2 24 | $57.6M | $66.9M | ||
| Q1 24 | $59.5M | $2.8M |
| Q4 25 | 39.2% | 38.6% | ||
| Q3 25 | 33.8% | -19.3% | ||
| Q2 25 | 28.2% | -17.7% | ||
| Q1 25 | 31.2% | 13.3% | ||
| Q4 24 | 36.7% | 36.8% | ||
| Q3 24 | 33.3% | -13.8% | ||
| Q2 24 | 32.0% | -5.0% | ||
| Q1 24 | 29.4% | 8.8% |
| Q4 25 | 35.2% | 21.8% | ||
| Q3 25 | 22.2% | -14.0% | ||
| Q2 25 | 23.9% | -18.7% | ||
| Q1 25 | 22.1% | 3.9% | ||
| Q4 24 | 29.5% | 20.1% | ||
| Q3 24 | 26.1% | -14.4% | ||
| Q2 24 | 21.3% | 37.7% | ||
| Q1 24 | 22.5% | 1.5% |
| Q4 25 | $1.36 | $1.94 | ||
| Q3 25 | $0.93 | $-0.46 | ||
| Q2 25 | $0.94 | $-0.56 | ||
| Q1 25 | $0.82 | $0.17 | ||
| Q4 24 | $0.99 | $1.56 | ||
| Q3 24 | $1.03 | $-0.40 | ||
| Q2 24 | $0.80 | $1.32 | ||
| Q1 24 | $0.84 | $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 | — | $157.1M |
| 总债务越低越好 | $190.0M | $554.6M |
| 股东权益账面价值 | $438.8M | $36.0M |
| 总资产 | $1.6B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.43× | 15.40× |
8季度趋势，按日历期对齐
| Q4 25 | — | $157.1M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | — | $43.0M | ||
| Q1 25 | — | $89.0M | ||
| Q4 24 | — | $54.9M | ||
| Q3 24 | — | $37.3M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $28.0M |
| Q4 25 | $190.0M | $554.6M | ||
| Q3 25 | $190.0M | $581.7M | ||
| Q2 25 | $200.0M | $568.8M | ||
| Q1 25 | $200.0M | $577.4M | ||
| Q4 24 | $200.0M | $584.7M | ||
| Q3 24 | $200.0M | $647.0M | ||
| Q2 24 | $200.0M | $599.2M | ||
| Q1 24 | $200.0M | $602.5M |
| Q4 25 | $438.8M | $36.0M | ||
| Q3 25 | $402.1M | $-65.8M | ||
| Q2 25 | $381.8M | $-13.3M | ||
| Q1 25 | $356.5M | $9.5M | ||
| Q4 24 | $388.9M | $10.3M | ||
| Q3 24 | $372.1M | $-48.7M | ||
| Q2 24 | $341.2M | $-23.2M | ||
| Q1 24 | $320.3M | $-94.6M |
| Q4 25 | $1.6B | $1.8B | ||
| Q3 25 | $1.6B | $1.7B | ||
| Q2 25 | $1.4B | $1.7B | ||
| Q1 25 | $1.4B | $1.7B | ||
| Q4 24 | $1.6B | $1.6B | ||
| Q3 24 | $1.6B | $1.6B | ||
| Q2 24 | $1.5B | $1.6B | ||
| Q1 24 | $1.5B | $1.5B |
| Q4 25 | 0.43× | 15.40× | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | 60.61× | ||
| Q4 24 | 0.51× | 56.61× | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | — |
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 | $172.0M | $164.4M |
| 自由现金流经营现金流 - 资本支出 | $171.6M | — |
| 自由现金流率自由现金流/营收 | 51.2% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | 1.46× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $420.6M | — |
8季度趋势，按日历期对齐
| Q4 25 | $172.0M | $164.4M | ||
| Q3 25 | $40.4M | $19.8M | ||
| Q2 25 | $50.9M | $-27.0M | ||
| Q1 25 | $157.9M | $56.8M | ||
| Q4 24 | $372.8M | $112.9M | ||
| Q3 24 | $112.8M | $-27.4M | ||
| Q2 24 | $75.9M | $212.0K | ||
| Q1 24 | $147.0M | $5.8M |
| Q4 25 | $171.6M | — | ||
| Q3 25 | $40.4M | — | ||
| Q2 25 | $50.9M | — | ||
| Q1 25 | $157.7M | — | ||
| Q4 24 | $371.3M | — | ||
| Q3 24 | $112.4M | — | ||
| Q2 24 | $75.2M | — | ||
| Q1 24 | $146.9M | — |
| Q4 25 | 51.2% | — | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | 18.0% | — | ||
| Q1 25 | 56.9% | — | ||
| Q4 24 | 125.0% | — | ||
| Q3 24 | 40.2% | — | ||
| Q2 24 | 27.8% | — | ||
| Q1 24 | 55.6% | — |
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.0% | — |
| Q4 25 | 1.46× | 1.77× | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 0.75× | — | ||
| Q1 25 | 2.58× | 7.07× | ||
| Q4 24 | 4.26× | 1.49× | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.32× | 0.00× | ||
| Q1 24 | 2.47× | 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
APAM
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% |
