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CSX Corporation（CSX）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CSX Corporation的1.1倍（$3.8B vs $3.5B），CSX Corporation净利率更高（23.2% vs -31.8%，领先55.0%），CSX Corporation同比增速更快（1.7% vs -4.3%），CSX Corporation自由现金流更多（$793.0M vs $-583.4M），过去两年EchoStar CORP的营收复合增速更高（-2.8% vs -3.0%）
CSX运输是美国一级货运铁路企业，业务覆盖美国东部区域及加拿大安大略省、魁北克省，运营铁路总里程约3.4万公里，隶属于总部位于佛罗里达州杰克逊维尔市的财富500强企业CSX Corporation，是其旗下核心子公司。
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。
CSX vs SATS — 直观对比
营收规模更大
SATS
是对方的1.1倍
$3.5B
营收增速更快
CSX
高出6.0%
-4.3%
净利率更高
CSX
高出55.0%
-31.8%
自由现金流更多
CSX
多$1.4B
$-583.4M
两年增速更快
SATS
近两年复合增速
-3.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.5B | $3.8B |
| 净利润 | $807.0M | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | 29.9% | -20.5% |
| 净利率 | 23.2% | -31.8% |
| 营收同比 | 1.7% | -4.3% |
| 净利润同比 | 401.2% | -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CSXSATS
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $3.8B | ||
| Q3 25 | $3.6B | $3.6B | ||
| Q2 25 | $3.6B | $3.7B | ||
| Q1 25 | $3.4B | $3.9B | ||
| Q4 24 | $3.5B | $4.0B | ||
| Q3 24 | $3.6B | $3.9B | ||
| Q2 24 | $3.7B | $4.0B |
净利润CSXSATS
| Q1 26 | $807.0M | — | ||
| Q4 25 | $720.0M | $-1.2B | ||
| Q3 25 | $694.0M | $-12.8B | ||
| Q2 25 | $829.0M | $-306.1M | ||
| Q1 25 | $646.0M | $-202.7M | ||
| Q4 24 | $720.0M | $335.2M | ||
| Q3 24 | $894.0M | $-141.8M | ||
| Q2 24 | $963.0M | $-205.6M |
营业利润率CSXSATS
| Q1 26 | 29.9% | — | ||
| Q4 25 | 31.6% | -20.5% | ||
| Q3 25 | 30.3% | -460.5% | ||
| Q2 25 | 35.9% | -5.7% | ||
| Q1 25 | 30.4% | -2.3% | ||
| Q4 24 | 30.8% | -1.6% | ||
| Q3 24 | 37.4% | -4.1% | ||
| Q2 24 | 39.1% | -1.7% |
净利率CSXSATS
| Q1 26 | 23.2% | — | ||
| Q4 25 | 20.5% | -31.8% | ||
| Q3 25 | 19.3% | -353.6% | ||
| Q2 25 | 23.2% | -8.2% | ||
| Q1 25 | 18.9% | -5.2% | ||
| Q4 24 | 20.3% | 8.5% | ||
| Q3 24 | 24.7% | -3.6% | ||
| Q2 24 | 26.0% | -5.2% |
每股收益（稀释后）CSXSATS
| Q1 26 | — | — | ||
| Q4 25 | $0.39 | $-4.27 | ||
| Q3 25 | $0.37 | $-44.37 | ||
| Q2 25 | $0.44 | $-1.06 | ||
| Q1 25 | $0.34 | $-0.71 | ||
| Q4 24 | $0.38 | $1.24 | ||
| Q3 24 | $0.46 | $-0.52 | ||
| Q2 24 | $0.49 | $-0.76 |
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 | $1.1B | $3.0B |
| 总债务越低越好 | $18.9B | $18.7B |
| 股东权益账面价值 | $13.6B | $5.8B |
| 总资产 | $44.2B | $43.0B |
| 负债/权益比越低杠杆越低 | 1.39× | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资CSXSATS
| Q1 26 | $1.1B | — | ||
| Q4 25 | $5.0M | $3.0B | ||
| Q3 25 | $6.0M | $3.9B | ||
| Q2 25 | $6.0M | $4.3B | ||
| Q1 25 | $8.0M | $5.1B | ||
| Q4 24 | $72.0M | $5.5B | ||
| Q3 24 | $12.0M | $674.4M | ||
| Q2 24 | $4.0M | $520.6M |
总债务CSXSATS
| Q1 26 | $18.9B | — | ||
| Q4 25 | $18.2B | $18.7B | ||
| Q3 25 | $18.6B | $21.8B | ||
| Q2 25 | $18.6B | $25.4B | ||
| Q1 25 | $18.5B | $25.3B | ||
| Q4 24 | $17.9B | $25.7B | ||
| Q3 24 | $18.5B | — | ||
| Q2 24 | $18.0B | — |
股东权益CSXSATS
| Q1 26 | $13.6B | — | ||
| Q4 25 | $13.2B | $5.8B | ||
| Q3 25 | $12.8B | $7.0B | ||
| Q2 25 | $12.4B | $19.7B | ||
| Q1 25 | $12.2B | $20.0B | ||
| Q4 24 | $12.5B | $20.2B | ||
| Q3 24 | $12.9B | $19.4B | ||
| Q2 24 | $12.6B | $19.6B |
总资产CSXSATS
| Q1 26 | $44.2B | — | ||
| Q4 25 | $43.7B | $43.0B | ||
| Q3 25 | $43.3B | $45.3B | ||
| Q2 25 | $42.9B | $59.9B | ||
| Q1 25 | $43.2B | $60.6B | ||
| Q4 24 | $42.8B | $60.9B | ||
| Q3 24 | $43.1B | $57.5B | ||
| Q2 24 | $42.4B | $55.3B |
负债/权益比CSXSATS
| Q1 26 | 1.39× | — | ||
| Q4 25 | 1.38× | 3.24× | ||
| Q3 25 | 1.45× | 3.13× | ||
| Q2 25 | 1.50× | 1.29× | ||
| Q1 25 | 1.52× | 1.27× | ||
| Q4 24 | 1.43× | 1.27× | ||
| Q3 24 | 1.43× | — | ||
| Q2 24 | 1.42× | — |
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 | $1.3B | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $793.0M | $-583.4M |
| 自由现金流率自由现金流/营收 | 22.8% | -15.4% |
| 资本支出强度资本支出/营收 | — | 4.2% |
| 现金转化率经营现金流/净利润 | 1.58× | — |
| 过去12个月自由现金流最近4个季度 | $2.0B | $-1.1B |
8季度趋势，按日历期对齐
经营现金流CSXSATS
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.4B | $-425.3M | ||
| Q3 25 | $1.3B | $111.7M | ||
| Q2 25 | $635.0M | $7.5M | ||
| Q1 25 | $1.3B | $206.8M | ||
| Q4 24 | $1.4B | $45.6M | ||
| Q3 24 | $1.7B | $276.2M | ||
| Q2 24 | $1.1B | $479.7M |
自由现金流CSXSATS
| Q1 26 | $793.0M | — | ||
| Q4 25 | $709.0M | $-583.4M | ||
| Q3 25 | $607.0M | $-144.4M | ||
| Q2 25 | $-141.0M | $-285.7M | ||
| Q1 25 | $536.0M | $-51.7M | ||
| Q4 24 | $550.0M | $-298.7M | ||
| Q3 24 | $1.1B | $-57.5M | ||
| Q2 24 | $547.0M | $132.4M |
自由现金流率CSXSATS
| Q1 26 | 22.8% | — | ||
| Q4 25 | 20.2% | -15.4% | ||
| Q3 25 | 16.9% | -4.0% | ||
| Q2 25 | -3.9% | -7.7% | ||
| Q1 25 | 15.7% | -1.3% | ||
| Q4 24 | 15.5% | -7.5% | ||
| Q3 24 | 29.3% | -1.5% | ||
| Q2 24 | 14.8% | 3.3% |
资本支出强度CSXSATS
| Q1 26 | — | — | ||
| Q4 25 | 19.3% | 4.2% | ||
| Q3 25 | 20.4% | 7.1% | ||
| Q2 25 | 21.7% | 7.9% | ||
| Q1 25 | 21.0% | 6.7% | ||
| Q4 24 | 23.7% | 8.7% | ||
| Q3 24 | 17.3% | 8.6% | ||
| Q2 24 | 14.6% | 8.8% |
现金转化率CSXSATS
| Q1 26 | 1.58× | — | ||
| Q4 25 | 1.93× | — | ||
| Q3 25 | 1.93× | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 1.94× | — | ||
| Q4 24 | 1.93× | 0.14× | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 1.13× | — |
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
CSX
暂无分部数据
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% |
