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亚什兰（ASH）与Sphere Entertainment Co.（SPHR）财务数据对比。点击上方公司名可切换其他公司
Sphere Entertainment Co.的季度营收约是亚什兰的1.0倍（$393.8M vs $386.0M），Sphere Entertainment Co.净利率更高（16.4% vs -3.1%，领先19.5%），过去两年Sphere Entertainment Co.的营收复合增速更高（12.1% vs -18.1%）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
Sphere Entertainment Co.是总部位于纽约的美国娱乐控股企业，由查尔斯·多兰家族掌控，旗下拥有位于内华达州拉斯维加斯谷帕拉代斯的Sphere演艺场馆，以及总部位于纽约的区域体育网络连锁品牌MSG Networks。
ASH vs SPHR — 直观对比
营收规模更大
SPHR
是对方的1.0倍
$386.0M
净利率更高
SPHR
高出19.5%
-3.1%
两年增速更快
SPHR
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $393.8M |
| 净利润 | $-12.0M | $64.7M |
| 毛利率 | 27.2% | — |
| 营业利润率 | -1.6% | 7.3% |
| 净利率 | -3.1% | 16.4% |
| 营收同比 | -4.7% | — |
| 净利润同比 | 92.7% | — |
| 每股收益（稀释后） | $-0.26 | $2.42 |
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ASHSPHR
| Q4 25 | $386.0M | $393.8M | ||
| Q3 25 | $477.0M | $262.1M | ||
| Q2 25 | $463.0M | $282.2M | ||
| Q1 25 | $479.0M | $280.1M | ||
| Q4 24 | $405.0M | — | ||
| Q3 24 | $521.0M | $227.1M | ||
| Q2 24 | $544.0M | $272.6M | ||
| Q1 24 | $575.0M | $320.6M |
净利润ASHSPHR
| Q4 25 | $-12.0M | $64.7M | ||
| Q3 25 | $31.0M | $-101.2M | ||
| Q2 25 | $-742.0M | $151.8M | ||
| Q1 25 | $31.0M | $-82.0M | ||
| Q4 24 | $-165.0M | — | ||
| Q3 24 | $17.0M | $-105.3M | ||
| Q2 24 | $6.0M | $-46.6M | ||
| Q1 24 | $120.0M | $-47.2M |
毛利率ASHSPHR
| Q4 25 | 27.2% | — | ||
| Q3 25 | 33.3% | — | ||
| Q2 25 | 28.5% | — | ||
| Q1 25 | 30.7% | — | ||
| Q4 24 | 27.4% | — | ||
| Q3 24 | 33.2% | — | ||
| Q2 24 | 34.2% | — | ||
| Q1 24 | 28.0% | — |
营业利润率ASHSPHR
| Q4 25 | -1.6% | 7.3% | ||
| Q3 25 | 12.8% | -49.5% | ||
| Q2 25 | -152.9% | -17.8% | ||
| Q1 25 | 10.6% | -28.1% | ||
| Q4 24 | -44.2% | — | ||
| Q3 24 | 6.1% | -51.8% | ||
| Q2 24 | -11.2% | -66.3% | ||
| Q1 24 | 3.7% | -12.6% |
净利率ASHSPHR
| Q4 25 | -3.1% | 16.4% | ||
| Q3 25 | 6.5% | -38.6% | ||
| Q2 25 | -160.3% | 53.8% | ||
| Q1 25 | 6.5% | -29.3% | ||
| Q4 24 | -40.7% | — | ||
| Q3 24 | 3.3% | -46.4% | ||
| Q2 24 | 1.1% | -17.1% | ||
| Q1 24 | 20.9% | -14.7% |
每股收益（稀释后）ASHSPHR
| Q4 25 | $-0.26 | $2.42 | ||
| Q3 25 | $0.83 | $-2.80 | ||
| Q2 25 | $-16.21 | $3.39 | ||
| Q1 25 | $0.65 | $-2.27 | ||
| Q4 24 | $-3.50 | — | ||
| Q3 24 | $0.34 | $-2.95 | ||
| Q2 24 | $0.12 | $-1.33 | ||
| Q1 24 | $2.39 | $-1.33 |
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 | $304.0M | — |
| 总债务越低越好 | $1.4B | $692.7M |
| 股东权益账面价值 | $1.9B | $2.2B |
| 总资产 | $4.5B | $4.2B |
| 负债/权益比越低杠杆越低 | 0.74× | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资ASHSPHR
| Q4 25 | $304.0M | — | ||
| Q3 25 | $215.0M | $384.8M | ||
| Q2 25 | $207.0M | $355.7M | ||
| Q1 25 | $168.0M | $465.0M | ||
| Q4 24 | $219.0M | — | ||
| Q3 24 | $300.0M | — | ||
| Q2 24 | $399.0M | $559.8M | ||
| Q1 24 | $439.0M | — |
总债务ASHSPHR
| Q4 25 | $1.4B | $692.7M | ||
| Q3 25 | $1.4B | $733.8M | ||
| Q2 25 | $1.4B | $743.8M | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $1.3B | $1.4B | ||
| Q1 24 | $1.3B | $1.4B |
股东权益ASHSPHR
| Q4 25 | $1.9B | $2.2B | ||
| Q3 25 | $1.9B | $2.2B | ||
| Q2 25 | $1.9B | $2.3B | ||
| Q1 25 | $2.6B | $2.1B | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.9B | $2.3B | ||
| Q2 24 | $3.0B | $2.4B | ||
| Q1 24 | $3.1B | $2.4B |
总资产ASHSPHR
| Q4 25 | $4.5B | $4.2B | ||
| Q3 25 | $4.6B | $4.1B | ||
| Q2 25 | $4.6B | $4.2B | ||
| Q1 25 | $5.2B | $4.4B | ||
| Q4 24 | $5.2B | — | ||
| Q3 24 | $5.6B | $4.6B | ||
| Q2 24 | $5.7B | — | ||
| Q1 24 | $5.9B | $4.9B |
负债/权益比ASHSPHR
| Q4 25 | 0.74× | 0.31× | ||
| Q3 25 | 0.73× | 0.34× | ||
| Q2 25 | 0.73× | 0.32× | ||
| Q1 25 | 0.52× | 0.62× | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.47× | 0.59× | ||
| Q2 24 | 0.45× | 0.57× | ||
| Q1 24 | 0.42× | 0.57× |
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 | $125.0M | $180.2M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | — |
| 自由现金流率自由现金流/营收 | 28.8% | — |
| 资本支出强度资本支出/营收 | 3.6% | — |
| 现金转化率经营现金流/净利润 | — | 2.78× |
| 过去12个月自由现金流最近4个季度 | $200.0M | — |
8季度趋势，按日历期对齐
经营现金流ASHSPHR
| Q4 25 | $125.0M | $180.2M | ||
| Q3 25 | $40.0M | $115.8M | ||
| Q2 25 | $115.0M | $-59.1M | ||
| Q1 25 | $9.0M | $6.3M | ||
| Q4 24 | $-30.0M | — | ||
| Q3 24 | $80.0M | $34.1M | ||
| Q2 24 | $127.0M | $-72.4M | ||
| Q1 24 | $54.0M | $101.0M |
自由现金流ASHSPHR
| Q4 25 | $111.0M | — | ||
| Q3 25 | $6.0M | — | ||
| Q2 25 | $95.0M | — | ||
| Q1 25 | $-12.0M | — | ||
| Q4 24 | $-53.0M | — | ||
| Q3 24 | $42.0M | — | ||
| Q2 24 | $98.0M | — | ||
| Q1 24 | $20.0M | — |
自由现金流率ASHSPHR
| Q4 25 | 28.8% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 20.5% | — | ||
| Q1 25 | -2.5% | — | ||
| Q4 24 | -13.1% | — | ||
| Q3 24 | 8.1% | — | ||
| Q2 24 | 18.0% | — | ||
| Q1 24 | 3.5% | — |
资本支出强度ASHSPHR
| Q4 25 | 3.6% | — | ||
| Q3 25 | 7.1% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 4.4% | — | ||
| Q4 24 | 5.7% | — | ||
| Q3 24 | 7.3% | — | ||
| Q2 24 | 5.3% | — | ||
| Q1 24 | 5.9% | — |
现金转化率ASHSPHR
| Q4 25 | — | 2.78× | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | — | -0.39× | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.71× | — | ||
| Q2 24 | 21.17× | — | ||
| Q1 24 | 0.45× | — |
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
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
SPHR
| Ticketing And Venue License Fee Revenues | $198.5M | 50% |
| Media Networks Revenue | $120.1M | 30% |
| Sponsorship Signage Exosphere Advertising And Suite Licenses | $32.2M | 8% |
| Food Beverage And Merchandise Revenues | $27.6M | 7% |
| Other | $13.2M | 3% |
| Related Party | $2.3M | 1% |
