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塞拉尼斯（CE）与FuboTV Inc.（FUBO）财务数据对比。点击上方公司名可切换其他公司
塞拉尼斯的季度营收约是FuboTV Inc.的1.4倍（$2.2B vs $1.5B），塞拉尼斯净利率更高（0.6% vs -0.4%，领先1.0%），FuboTV Inc.同比增速更快（249.4% vs -7.0%），塞拉尼斯自由现金流更多（$168.0M vs $-200.8M），过去两年FuboTV Inc.的营收复合增速更高（94.3% vs -8.1%）
塞拉尼斯是总部位于美国得克萨斯州欧文市的技术及特种材料企业，位列财富500强。公司是全球醋酸行业领军生产商，年产量约195万吨，占全球总产量的20%左右，同时也是全球最大的醋酸乙烯酯单体（VAM）供应商。
FuboTV Inc.（简称Fubo）是源自美国的互联网体育流媒体服务商，业务覆盖美国、加拿大与西班牙地区。该平台主打各类直播体育内容，可提供英超、NFL、MLB、NBA、NHL、MLS等各大主流顶级体育赛事转播，同时也涵盖新闻、剧集等综合影视娱乐内容。
CE vs FUBO — 直观对比
营收规模更大
CE
是对方的1.4倍
$1.5B
营收增速更快
FUBO
高出256.4%
-7.0%
净利率更高
CE
高出1.0%
-0.4%
自由现金流更多
CE
多$368.8M
$-200.8M
两年增速更快
FUBO
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $1.5B |
| 净利润 | $14.0M | $-6.0M |
| 毛利率 | 19.1% | — |
| 营业利润率 | 4.0% | -1.3% |
| 净利率 | 0.6% | -0.4% |
| 营收同比 | -7.0% | 249.4% |
| 净利润同比 | 100.7% | 84.5% |
| 每股收益（稀释后） | $0.13 | $-0.02 |
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CEFUBO
| Q4 25 | $2.2B | $1.5B | ||
| Q3 25 | $2.4B | $377.2M | ||
| Q2 25 | $2.5B | $380.0M | ||
| Q1 25 | $2.4B | $416.3M | ||
| Q4 24 | $2.4B | — | ||
| Q3 24 | $2.6B | $386.2M | ||
| Q2 24 | $2.7B | $391.0M | ||
| Q1 24 | $2.6B | $402.3M |
净利润CEFUBO
| Q4 25 | $14.0M | $-6.0M | ||
| Q3 25 | $-1.4B | $-18.9M | ||
| Q2 25 | $199.0M | $-8.0M | ||
| Q1 25 | $-21.0M | $188.5M | ||
| Q4 24 | $-1.9B | — | ||
| Q3 24 | $116.0M | $-52.4M | ||
| Q2 24 | $155.0M | $-25.3M | ||
| Q1 24 | $121.0M | $-56.0M |
毛利率CEFUBO
| Q4 25 | 19.1% | — | ||
| Q3 25 | 21.5% | — | ||
| Q2 25 | 21.1% | — | ||
| Q1 25 | 19.9% | — | ||
| Q4 24 | 22.7% | — | ||
| Q3 24 | 23.5% | — | ||
| Q2 24 | 24.2% | — | ||
| Q1 24 | 21.2% | — |
营业利润率CEFUBO
| Q4 25 | 4.0% | -1.3% | ||
| Q3 25 | -52.7% | -5.3% | ||
| Q2 25 | 9.2% | -1.6% | ||
| Q1 25 | 7.0% | -6.1% | ||
| Q4 24 | -59.3% | — | ||
| Q3 24 | 9.4% | -15.2% | ||
| Q2 24 | 9.4% | -9.1% | ||
| Q1 24 | 8.0% | -15.7% |
净利率CEFUBO
| Q4 25 | 0.6% | -0.4% | ||
| Q3 25 | -56.1% | -5.0% | ||
| Q2 25 | 7.9% | -2.1% | ||
| Q1 25 | -0.9% | 45.3% | ||
| Q4 24 | -80.8% | — | ||
| Q3 24 | 4.4% | -13.6% | ||
| Q2 24 | 5.8% | -6.5% | ||
| Q1 24 | 4.6% | -13.9% |
每股收益（稀释后）CEFUBO
| Q4 25 | $0.13 | $-0.02 | ||
| Q3 25 | $-12.39 | $-0.06 | ||
| Q2 25 | $1.81 | $-0.02 | ||
| Q1 25 | $-0.19 | $0.55 | ||
| Q4 24 | $-17.50 | — | ||
| Q3 24 | $1.06 | $-0.16 | ||
| Q2 24 | $1.41 | $-0.08 | ||
| Q1 24 | $1.10 | $-0.19 |
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 | — | $452.4M |
| 总债务越低越好 | $11.4B | — |
| 股东权益账面价值 | $4.0B | $275.5M |
| 总资产 | $21.7B | $4.1B |
| 负债/权益比越低杠杆越低 | 2.81× | — |
8季度趋势，按日历期对齐
现金及短期投资CEFUBO
| Q4 25 | — | $452.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $283.6M | ||
| Q1 25 | — | $321.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $146.2M | ||
| Q2 24 | — | $155.2M | ||
| Q1 24 | — | $168.9M |
总债务CEFUBO
| Q4 25 | $11.4B | — | ||
| Q3 25 | $11.7B | — | ||
| Q2 25 | $12.7B | — | ||
| Q1 25 | $12.4B | — | ||
| Q4 24 | $11.1B | — | ||
| Q3 24 | $11.3B | — | ||
| Q2 24 | $11.1B | — | ||
| Q1 24 | $11.0B | — |
股东权益CEFUBO
| Q4 25 | $4.0B | $275.5M | ||
| Q3 25 | $4.0B | $915.3M | ||
| Q2 25 | $5.3B | $400.4M | ||
| Q1 25 | $5.2B | $389.0M | ||
| Q4 24 | $5.2B | — | ||
| Q3 24 | $7.3B | $905.3M | ||
| Q2 24 | $7.2B | $254.2M | ||
| Q1 24 | $7.1B | $236.1M |
总资产CEFUBO
| Q4 25 | $21.7B | $4.1B | ||
| Q3 25 | $22.2B | $1.3B | ||
| Q2 25 | $23.7B | $1.2B | ||
| Q1 25 | $23.2B | $1.2B | ||
| Q4 24 | $22.9B | — | ||
| Q3 24 | $25.9B | $1.1B | ||
| Q2 24 | $25.8B | $1.1B | ||
| Q1 24 | $26.0B | $1.1B |
负债/权益比CEFUBO
| Q4 25 | 2.81× | — | ||
| Q3 25 | 2.95× | — | ||
| Q2 25 | 2.41× | — | ||
| Q1 25 | 2.39× | — | ||
| Q4 24 | 2.14× | — | ||
| Q3 24 | 1.56× | — | ||
| Q2 24 | 1.54× | — | ||
| Q1 24 | 1.56× | — |
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 | $252.0M | $-200.3M |
| 自由现金流经营现金流 - 资本支出 | $168.0M | $-200.8M |
| 自由现金流率自由现金流/营收 | 7.6% | -13.0% |
| 资本支出强度资本支出/营收 | 3.8% | 0.0% |
| 现金转化率经营现金流/净利润 | 18.00× | — |
| 过去12个月自由现金流最近4个季度 | $803.0M | $-81.3M |
8季度趋势，按日历期对齐
经营现金流CEFUBO
| Q4 25 | $252.0M | $-200.3M | ||
| Q3 25 | $447.0M | $-6.5M | ||
| Q2 25 | $410.0M | $-34.6M | ||
| Q1 25 | $37.0M | $161.4M | ||
| Q4 24 | $494.0M | — | ||
| Q3 24 | $79.0M | $235.0K | ||
| Q2 24 | $292.0M | $-32.3M | ||
| Q1 24 | $101.0M | $-67.3M |
自由现金流CEFUBO
| Q4 25 | $168.0M | $-200.8M | ||
| Q3 25 | $383.0M | $-6.5M | ||
| Q2 25 | $317.0M | $-35.0M | ||
| Q1 25 | $-65.0M | $161.1M | ||
| Q4 24 | $389.0M | — | ||
| Q3 24 | $-9.0M | $-1.3M | ||
| Q2 24 | $187.0M | $-32.5M | ||
| Q1 24 | $-36.0M | $-67.4M |
自由现金流率CEFUBO
| Q4 25 | 7.6% | -13.0% | ||
| Q3 25 | 15.8% | -1.7% | ||
| Q2 25 | 12.5% | -9.2% | ||
| Q1 25 | -2.7% | 38.7% | ||
| Q4 24 | 16.4% | — | ||
| Q3 24 | -0.3% | -0.3% | ||
| Q2 24 | 7.1% | -8.3% | ||
| Q1 24 | -1.4% | -16.7% |
资本支出强度CEFUBO
| Q4 25 | 3.8% | 0.0% | ||
| Q3 25 | 2.6% | 0.0% | ||
| Q2 25 | 3.7% | 0.1% | ||
| Q1 25 | 4.3% | 0.1% | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 3.3% | 0.4% | ||
| Q2 24 | 4.0% | 0.1% | ||
| Q1 24 | 5.2% | 0.0% |
现金转化率CEFUBO
| Q4 25 | 18.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 1.88× | — | ||
| Q1 24 | 0.83× | — |
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
CE
| Engineered Materials | $1.3B | 58% |
| Acetyl Chain | $940.0M | 43% |
FUBO
| Related Party | $1.2B | 75% |
| Subscription And Advertising | $377.9M | 24% |
