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亚玛芬体育（AS）与TKO Group Holdings（TKO）财务数据对比。点击上方公司名可切换其他公司
亚玛芬体育的季度营收约是TKO Group Holdings的1.0倍（$1.1B vs $1.0B），亚玛芬体育净利率更高（1.8% vs -0.2%，领先2.0%）
亚玛芬体育是芬兰跨国运动装备企业，总部位于赫尔辛基，成立于1950年。早年为涉足烟草贸易、航运、出版等领域的多元化工业集团，后逐步转型专注于体育用品的生产与营销，现有员工超9700人，2018年起成为中国安踏体育旗下子公司。
TKO Group Holdings是美国体育及体育娱乐上市企业，成立于2023年9月12日，由奋进集团（Endeavor）子公司、终极格斗冠军赛（UFC）母公司Zuffa与职业摔跤品牌世界摔角娱乐（WWE）合并组建，主营综合格斗、职业摔跤赛事运营及相关娱乐内容业务。
AS vs TKO — 直观对比
营收规模更大
AS
是对方的1.0倍
$1.0B
净利率更高
AS
高出2.0%
-0.2%
损益表 — Q1 FY2024 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.0B |
| 净利润 | $19.0M | $-2.4M |
| 毛利率 | 52.8% | — |
| 营业利润率 | 12.4% | 5.5% |
| 净利率 | 1.8% | -0.2% |
| 营收同比 | — | 61.6% |
| 净利润同比 | — | -107.7% |
| 每股收益（稀释后） | $0.05 | $-0.07 |
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ASTKO
| Q4 25 | — | $1.0B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.3B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $642.2M | ||
| Q3 24 | — | $681.3M | ||
| Q2 24 | — | $851.2M | ||
| Q1 24 | $1.1B | $629.7M |
净利润ASTKO
| Q4 25 | — | $-2.4M | ||
| Q3 25 | — | $41.0M | ||
| Q2 25 | — | $98.4M | ||
| Q1 25 | — | $58.4M | ||
| Q4 24 | — | $31.0M | ||
| Q3 24 | — | $23.1M | ||
| Q2 24 | — | $59.1M | ||
| Q1 24 | $19.0M | $-103.8M |
毛利率ASTKO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 52.8% | — |
营业利润率ASTKO
| Q4 25 | — | 5.5% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 28.1% | ||
| Q1 25 | — | 18.7% | ||
| Q4 24 | — | 15.9% | ||
| Q3 24 | — | 20.0% | ||
| Q2 24 | — | 30.0% | ||
| Q1 24 | 12.4% | -33.4% |
净利率ASTKO
| Q4 25 | — | -0.2% | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | 7.5% | ||
| Q1 25 | — | 4.6% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | — | 6.9% | ||
| Q1 24 | 1.8% | -16.5% |
每股收益（稀释后）ASTKO
| Q4 25 | — | $-0.07 | ||
| Q3 25 | — | $0.47 | ||
| Q2 25 | — | $1.17 | ||
| Q1 25 | — | $0.69 | ||
| Q4 24 | — | $0.28 | ||
| Q3 24 | — | $0.28 | ||
| Q2 24 | — | $0.72 | ||
| Q1 24 | $0.05 | $-1.26 |
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 | — | $831.1M |
| 总债务越低越好 | — | $3.8B |
| 股东权益账面价值 | — | $3.7B |
| 总资产 | — | $15.5B |
| 负债/权益比越低杠杆越低 | — | 1.01× |
8季度趋势，按日历期对齐
现金及短期投资ASTKO
| Q4 25 | — | $831.1M | ||
| Q3 25 | — | $861.4M | ||
| Q2 25 | — | $535.1M | ||
| Q1 25 | — | $470.9M | ||
| Q4 24 | — | $525.6M | ||
| Q3 24 | — | $457.4M | ||
| Q2 24 | — | $277.5M | ||
| Q1 24 | — | $245.8M |
总债务ASTKO
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $2.7B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.7B | ||
| Q2 24 | — | $2.7B | ||
| Q1 24 | — | $2.7B |
股东权益ASTKO
| Q4 25 | — | $3.7B | ||
| Q3 25 | — | $3.8B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $4.1B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.0B | ||
| Q1 24 | — | $4.0B |
总资产ASTKO
| Q4 25 | — | $15.5B | ||
| Q3 25 | — | $15.5B | ||
| Q2 25 | — | $15.3B | ||
| Q1 25 | — | $15.0B | ||
| Q4 24 | — | $12.7B | ||
| Q3 24 | — | $12.8B | ||
| Q2 24 | — | $12.7B | ||
| Q1 24 | — | $12.7B |
负债/权益比ASTKO
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 0.68× |
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 | $114.3M | $309.9M |
| 自由现金流经营现金流 - 资本支出 | $92.2M | — |
| 自由现金流率自由现金流/营收 | 8.8% | — |
| 资本支出强度资本支出/营收 | 2.1% | — |
| 现金转化率经营现金流/净利润 | 6.02× | — |
| 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ASTKO
| Q4 25 | — | $309.9M | ||
| Q3 25 | — | $416.8M | ||
| Q2 25 | — | $396.2M | ||
| Q1 25 | — | $162.8M | ||
| Q4 24 | — | $56.8M | ||
| Q3 24 | — | $236.5M | ||
| Q2 24 | — | $230.7M | ||
| Q1 24 | $114.3M | $59.3M |
自由现金流ASTKO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $92.2M | — |
自由现金流率ASTKO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.8% | — |
资本支出强度ASTKO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.1% | — |
现金转化率ASTKO
| Q4 25 | — | — | ||
| Q3 25 | — | 10.16× | ||
| Q2 25 | — | 4.03× | ||
| Q1 25 | — | 2.79× | ||
| Q4 24 | — | 1.83× | ||
| Q3 24 | — | 10.22× | ||
| Q2 24 | — | 3.90× | ||
| Q1 24 | 6.02× | — |
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
AS
| Americas2 | $409.6M | 39% |
| EMEA1 | $356.9M | 34% |
| Greater China3 | $205.6M | 20% |
| Asia Pacific4 | $78.2M | 7% |
TKO
| World Wrestling Entertainment Segment | $359.6M | 35% |
| IMG Segment | $247.6M | 24% |
| Media Rights Production And Content | $222.6M | 21% |
| Partnerships And Marketing | $93.3M | 9% |
| Live Events And Hospitality | $72.2M | 7% |
| Other | $29.4M | 3% |
| Consumer Products Licensing And Other | $13.2M | 1% |
