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波尔公司（BALL）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的季度营收约是波尔公司的1.1倍（$3.8B vs $3.3B），波尔公司净利率更高（6.0% vs -31.8%，领先37.8%），波尔公司同比增速更快（16.2% vs -4.3%），波尔公司自由现金流更多（$1.0B vs $-583.4M），过去两年波尔公司的营收复合增速更高（7.9% vs -2.8%）
波尔公司是全球领先的可持续铝制包装解决方案供应商，为饮料、个护、家居产品领域的品牌提供创新包装产品，同时旗下航空航天板块为政府及商业客户提供先进技术、系统与相关服务，全业务线高度重视环保责任与产品可靠性。
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。
BALL vs SATS — 直观对比
营收规模更大
SATS
是对方的1.1倍
$3.3B
营收增速更快
BALL
高出20.5%
-4.3%
净利率更高
BALL
高出37.8%
-31.8%
自由现金流更多
BALL
多$1.6B
$-583.4M
两年增速更快
BALL
近两年复合增速
-2.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.3B | $3.8B |
| 净利润 | $200.0M | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | 7.2% | -20.5% |
| 净利率 | 6.0% | -31.8% |
| 营收同比 | 16.2% | -4.3% |
| 净利润同比 | 766.7% | -460.1% |
| 每股收益（稀释后） | $0.73 | $-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BALLSATS
| Q4 25 | $3.3B | $3.8B | ||
| Q3 25 | $3.4B | $3.6B | ||
| Q2 25 | $3.3B | $3.7B | ||
| Q1 25 | $3.1B | $3.9B | ||
| Q4 24 | $2.9B | $4.0B | ||
| Q3 24 | $3.1B | $3.9B | ||
| Q2 24 | $3.0B | $4.0B | ||
| Q1 24 | $2.9B | $4.0B |
净利润BALLSATS
| Q4 25 | $200.0M | $-1.2B | ||
| Q3 25 | $321.0M | $-12.8B | ||
| Q2 25 | $215.0M | $-306.1M | ||
| Q1 25 | $179.0M | $-202.7M | ||
| Q4 24 | $-30.0M | $335.2M | ||
| Q3 24 | $199.0M | $-141.8M | ||
| Q2 24 | $159.0M | $-205.6M | ||
| Q1 24 | $3.7B | $-107.4M |
毛利率BALLSATS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 17.7% | — | ||
| Q2 24 | 16.5% | — | ||
| Q1 24 | 16.6% | — |
营业利润率BALLSATS
| Q4 25 | 7.2% | -20.5% | ||
| Q3 25 | 11.6% | -460.5% | ||
| Q2 25 | 8.0% | -5.7% | ||
| Q1 25 | 7.4% | -2.3% | ||
| Q4 24 | 0.2% | -1.6% | ||
| Q3 24 | 7.4% | -4.1% | ||
| Q2 24 | 6.8% | -1.7% | ||
| Q1 24 | 6.8% | -0.4% |
净利率BALLSATS
| Q4 25 | 6.0% | -31.8% | ||
| Q3 25 | 9.5% | -353.6% | ||
| Q2 25 | 6.4% | -8.2% | ||
| Q1 25 | 5.8% | -5.2% | ||
| Q4 24 | -1.0% | 8.5% | ||
| Q3 24 | 6.5% | -3.6% | ||
| Q2 24 | 5.4% | -5.2% | ||
| Q1 24 | 128.3% | -2.7% |
每股收益（稀释后）BALLSATS
| Q4 25 | $0.73 | $-4.27 | ||
| Q3 25 | $1.18 | $-44.37 | ||
| Q2 25 | $0.76 | $-1.06 | ||
| Q1 25 | $0.63 | $-0.71 | ||
| Q4 24 | $0.23 | $1.24 | ||
| Q3 24 | $0.65 | $-0.52 | ||
| Q2 24 | $0.51 | $-0.76 | ||
| Q1 24 | $11.61 | $-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 | $1.2B | $3.0B |
| 总债务越低越好 | $7.0B | $18.7B |
| 股东权益账面价值 | $5.4B | $5.8B |
| 总资产 | $19.5B | $43.0B |
| 负债/权益比越低杠杆越低 | 1.29× | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资BALLSATS
| Q4 25 | $1.2B | $3.0B | ||
| Q3 25 | $568.0M | $3.9B | ||
| Q2 25 | $296.0M | $4.3B | ||
| Q1 25 | $449.0M | $5.1B | ||
| Q4 24 | $885.0M | $5.5B | ||
| Q3 24 | $1.4B | $674.4M | ||
| Q2 24 | $1.3B | $520.6M | ||
| Q1 24 | $1.7B | $766.4M |
总债务BALLSATS
| Q4 25 | $7.0B | $18.7B | ||
| Q3 25 | $6.9B | $21.8B | ||
| Q2 25 | $6.5B | $25.4B | ||
| Q1 25 | $6.1B | $25.3B | ||
| Q4 24 | $5.3B | $25.7B | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $5.5B | — | ||
| Q1 24 | $5.5B | $951.0M |
股东权益BALLSATS
| Q4 25 | $5.4B | $5.8B | ||
| Q3 25 | $5.4B | $7.0B | ||
| Q2 25 | $5.2B | $19.7B | ||
| Q1 25 | $5.5B | $20.0B | ||
| Q4 24 | $5.9B | $20.2B | ||
| Q3 24 | $6.7B | $19.4B | ||
| Q2 24 | $6.9B | $19.6B | ||
| Q1 24 | $7.3B | $19.8B |
总资产BALLSATS
| Q4 25 | $19.5B | $43.0B | ||
| Q3 25 | $18.7B | $45.3B | ||
| Q2 25 | $18.6B | $59.9B | ||
| Q1 25 | $18.0B | $60.6B | ||
| Q4 24 | $17.6B | $60.9B | ||
| Q3 24 | $18.8B | $57.5B | ||
| Q2 24 | $19.0B | $55.3B | ||
| Q1 24 | $19.9B | $55.6B |
负债/权益比BALLSATS
| Q4 25 | 1.29× | 3.24× | ||
| Q3 25 | 1.26× | 3.13× | ||
| Q2 25 | 1.24× | 1.29× | ||
| Q1 25 | 1.12× | 1.27× | ||
| Q4 24 | 0.91× | 1.27× | ||
| Q3 24 | 0.80× | — | ||
| Q2 24 | 0.80× | — | ||
| Q1 24 | 0.76× | 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 | $1.2B | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | $-583.4M |
| 自由现金流率自由现金流/营收 | 31.1% | -15.4% |
| 资本支出强度资本支出/营收 | 5.1% | 4.2% |
| 现金转化率经营现金流/净利润 | 6.05× | — |
| 过去12个月自由现金流最近4个季度 | $788.0M | $-1.1B |
8季度趋势，按日历期对齐
经营现金流BALLSATS
| Q4 25 | $1.2B | $-425.3M | ||
| Q3 25 | $384.0M | $111.7M | ||
| Q2 25 | $332.0M | $7.5M | ||
| Q1 25 | $-665.0M | $206.8M | ||
| Q4 24 | $500.0M | $45.6M | ||
| Q3 24 | $610.0M | $276.2M | ||
| Q2 24 | $252.0M | $479.7M | ||
| Q1 24 | $-1.2B | $451.3M |
自由现金流BALLSATS
| Q4 25 | $1.0B | $-583.4M | ||
| Q3 25 | $257.0M | $-144.4M | ||
| Q2 25 | $236.0M | $-285.7M | ||
| Q1 25 | $-746.0M | $-51.7M | ||
| Q4 24 | $393.0M | $-298.7M | ||
| Q3 24 | $493.0M | $-57.5M | ||
| Q2 24 | $146.0M | $132.4M | ||
| Q1 24 | $-1.4B | $-68.4M |
自由现金流率BALLSATS
| Q4 25 | 31.1% | -15.4% | ||
| Q3 25 | 7.6% | -4.0% | ||
| Q2 25 | 7.1% | -7.7% | ||
| Q1 25 | -24.1% | -1.3% | ||
| Q4 24 | 13.6% | -7.5% | ||
| Q3 24 | 16.0% | -1.5% | ||
| Q2 24 | 4.9% | 3.3% | ||
| Q1 24 | -48.7% | -1.7% |
资本支出强度BALLSATS
| Q4 25 | 5.1% | 4.2% | ||
| Q3 25 | 3.8% | 7.1% | ||
| Q2 25 | 2.9% | 7.9% | ||
| Q1 25 | 2.6% | 6.7% | ||
| Q4 24 | 3.7% | 8.7% | ||
| Q3 24 | 3.8% | 8.6% | ||
| Q2 24 | 3.6% | 8.8% | ||
| Q1 24 | 5.4% | 12.9% |
现金转化率BALLSATS
| Q4 25 | 6.05× | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.54× | — | ||
| Q1 25 | -3.72× | — | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | 3.07× | — | ||
| Q2 24 | 1.58× | — | ||
| Q1 24 | -0.34× | — |
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
BALL
| Transferred Over Time | $2.7B | 82% |
| Transferred At Point In Time | $602.0M | 18% |
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% |
