vs
AST SpaceMobile, Inc.（ASTS）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
EchoStar CORP的季度营收约是AST SpaceMobile, Inc.的69.9倍（$3.8B vs $54.3M）。EchoStar CORP净利率更高（-31.8% vs -136.2%，领先104.4%）。AST SpaceMobile, Inc.同比增速更快（2758.2% vs -4.3%）。AST SpaceMobile, Inc.自由现金流更多（$-330.7M vs $-583.4M）。过去两年AST SpaceMobile, Inc.的营收复合增速更高（942.2% vs -2.8%）
AST SpaceMobile是总部位于美国得克萨斯州米德兰的上市卫星设计与制造企业，目前正搭建SpaceMobile卫星星座，打造可直接对接未改装普通智能手机的天基蜂窝宽带网络，面向全球偏远及通信服务薄弱地区提供4G、5G宽带覆盖服务。
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。
ASTS vs SATS — 直观对比
营收规模更大
SATS
是对方的69.9倍
$54.3M
营收增速更快
ASTS
高出2762.5%
-4.3%
净利率更高
SATS
高出104.4%
-136.2%
自由现金流更多
ASTS
多$252.7M
$-583.4M
两年增速更快
ASTS
近两年复合增速
-2.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $54.3M | $3.8B |
| 净利润 | $-74.0M | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | -175.0% | -20.5% |
| 净利率 | -136.2% | -31.8% |
| 营收同比 | 2758.2% | -4.3% |
| 净利润同比 | -106.3% | -460.1% |
| 每股收益（稀释后） | — | $-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ASTSSATS
| Q4 25 | $54.3M | $3.8B | ||
| Q3 25 | $14.7M | $3.6B | ||
| Q2 25 | $1.2M | $3.7B | ||
| Q1 25 | $718.0K | $3.9B | ||
| Q4 24 | $1.9M | $4.0B | ||
| Q3 24 | $1.1M | $3.9B | ||
| Q2 24 | $900.0K | $4.0B | ||
| Q1 24 | $500.0K | $4.0B |
净利润ASTSSATS
| Q4 25 | $-74.0M | $-1.2B | ||
| Q3 25 | $-122.9M | $-12.8B | ||
| Q2 25 | $-99.4M | $-306.1M | ||
| Q1 25 | $-45.7M | $-202.7M | ||
| Q4 24 | $-35.9M | $335.2M | ||
| Q3 24 | $-171.9M | $-141.8M | ||
| Q2 24 | $-72.5M | $-205.6M | ||
| Q1 24 | $-19.7M | $-107.4M |
营业利润率ASTSSATS
| Q4 25 | -175.0% | -20.5% | ||
| Q3 25 | -1109.0% | -460.5% | ||
| Q2 25 | -11692.1% | -5.7% | ||
| Q1 25 | -8838.4% | -2.3% | ||
| Q4 24 | -2733.6% | -1.6% | ||
| Q3 24 | -27494.0% | -4.1% | ||
| Q2 24 | -14568.8% | -1.7% | ||
| Q1 24 | -7902.0% | -0.4% |
净利率ASTSSATS
| Q4 25 | -136.2% | -31.8% | ||
| Q3 25 | -833.7% | -353.6% | ||
| Q2 25 | -8598.1% | -8.2% | ||
| Q1 25 | -6365.7% | -5.2% | ||
| Q4 24 | -1887.2% | 8.5% | ||
| Q3 24 | -15631.5% | -3.6% | ||
| Q2 24 | -8061.1% | -5.2% | ||
| Q1 24 | -3946.0% | -2.7% |
每股收益（稀释后）ASTSSATS
| Q4 25 | — | $-4.27 | ||
| Q3 25 | — | $-44.37 | ||
| Q2 25 | — | $-1.06 | ||
| Q1 25 | — | $-0.71 | ||
| Q4 24 | — | $1.24 | ||
| Q3 24 | — | $-0.52 | ||
| Q2 24 | — | $-0.76 | ||
| Q1 24 | — | $-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 | $4.3B | $3.0B |
| 总债务越低越好 | — | $18.7B |
| 股东权益账面价值 | $2.4B | $5.8B |
| 总资产 | $5.0B | $43.0B |
| 负债/权益比越低杠杆越低 | — | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资ASTSSATS
| Q4 25 | $4.3B | $3.0B | ||
| Q3 25 | $2.4B | $3.9B | ||
| Q2 25 | $1.7B | $4.3B | ||
| Q1 25 | $1.7B | $5.1B | ||
| Q4 24 | $1.1B | $5.5B | ||
| Q3 24 | $946.7M | $674.4M | ||
| Q2 24 | $544.5M | $520.6M | ||
| Q1 24 | $408.9M | $766.4M |
总债务ASTSSATS
| Q4 25 | — | $18.7B | ||
| Q3 25 | — | $21.8B | ||
| Q2 25 | — | $25.4B | ||
| Q1 25 | — | $25.3B | ||
| Q4 24 | — | $25.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $951.0M |
股东权益ASTSSATS
| Q4 25 | $2.4B | $5.8B | ||
| Q3 25 | $1.6B | $7.0B | ||
| Q2 25 | $1.2B | $19.7B | ||
| Q1 25 | $766.7M | $20.0B | ||
| Q4 24 | $669.1M | $20.2B | ||
| Q3 24 | $502.8M | $19.4B | ||
| Q2 24 | $241.9M | $19.6B | ||
| Q1 24 | $285.8M | $19.8B |
总资产ASTSSATS
| Q4 25 | $5.0B | $43.0B | ||
| Q3 25 | $2.6B | $45.3B | ||
| Q2 25 | $1.9B | $59.9B | ||
| Q1 25 | $1.4B | $60.6B | ||
| Q4 24 | $954.6M | $60.9B | ||
| Q3 24 | $821.6M | $57.5B | ||
| Q2 24 | $579.6M | $55.3B | ||
| Q1 24 | $501.7M | $55.6B |
负债/权益比ASTSSATS
| Q4 25 | — | 3.24× | ||
| Q3 25 | — | 3.13× | ||
| Q2 25 | — | 1.29× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 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 | $65.0M | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $-330.7M | $-583.4M |
| 自由现金流率自由现金流/营收 | -609.0% | -15.4% |
| 资本支出强度资本支出/营收 | 728.7% | 4.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-1.1B | $-1.1B |
8季度趋势，按日历期对齐
经营现金流ASTSSATS
| Q4 25 | $65.0M | $-425.3M | ||
| Q3 25 | $-64.5M | $111.7M | ||
| Q2 25 | $-43.5M | $7.5M | ||
| Q1 25 | $-28.5M | $206.8M | ||
| Q4 24 | $-28.4M | $45.6M | ||
| Q3 24 | $-33.4M | $276.2M | ||
| Q2 24 | $-16.2M | $479.7M | ||
| Q1 24 | $-48.1M | $451.3M |
自由现金流ASTSSATS
| Q4 25 | $-330.7M | $-583.4M | ||
| Q3 25 | $-302.9M | $-144.4M | ||
| Q2 25 | $-353.6M | $-285.7M | ||
| Q1 25 | $-149.0M | $-51.7M | ||
| Q4 24 | $-110.5M | $-298.7M | ||
| Q3 24 | $-63.8M | $-57.5M | ||
| Q2 24 | $-38.4M | $132.4M | ||
| Q1 24 | $-87.7M | $-68.4M |
自由现金流率ASTSSATS
| Q4 25 | -609.0% | -15.4% | ||
| Q3 25 | -2055.0% | -4.0% | ||
| Q2 25 | -30592.0% | -7.7% | ||
| Q1 25 | -20752.4% | -1.3% | ||
| Q4 24 | -5814.3% | -7.5% | ||
| Q3 24 | -5795.8% | -1.5% | ||
| Q2 24 | -4261.6% | 3.3% | ||
| Q1 24 | -17538.0% | -1.7% |
资本支出强度ASTSSATS
| Q4 25 | 728.7% | 4.2% | ||
| Q3 25 | 1617.6% | 7.1% | ||
| Q2 25 | 26831.0% | 7.9% | ||
| Q1 25 | 16776.6% | 6.7% | ||
| Q4 24 | 4317.5% | 8.7% | ||
| Q3 24 | 2756.8% | 8.6% | ||
| Q2 24 | 2466.9% | 8.8% | ||
| Q1 24 | 7913.6% | 12.9% |
现金转化率ASTSSATS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
ASTS
| Products | $44.4M | 82% |
| Other | $7.8M | 14% |
| Sat Co | $2.1M | 4% |
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% |
