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DraftKings Inc.（DKNG）与Madison Square Garden Entertainment Corp.（MSGE）财务数据对比。点击上方公司名可切换其他公司
DraftKings Inc.的季度营收约是Madison Square Garden Entertainment Corp.的4.7倍（$2.0B vs $424.8M）。Madison Square Garden Entertainment Corp.净利率更高（21.8% vs 6.9%，领先15.0%）。DraftKings Inc.同比增速更快（42.8% vs 12.5%）。过去两年Madison Square Garden Entertainment Corp.的营收复合增速更高（48.9% vs 30.1%）
DraftKings Inc.是总部位于美国马萨诸塞州波士顿的博彩企业，主要提供体育博彩、每日范特西体育相关服务，是全球线上博彩娱乐赛道的知名企业，业务覆盖多个国家和地区的合规消费市场。
麦迪逊广场花园娱乐公司是总部位于美国纽约的体育控股企业，依托麦迪逊广场花园的核心资源，在体育赛事运营、体育IP管理及相关商业化领域拥有深厚行业积累与广泛影响力。
DKNG vs MSGE — 直观对比
营收规模更大
DKNG
是对方的4.7倍
$424.8M
营收增速更快
DKNG
高出30.3%
12.5%
净利率更高
MSGE
高出15.0%
6.9%
两年增速更快
MSGE
近两年复合增速
30.1%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $424.8M |
| 净利润 | $136.4M | $92.7M |
| 毛利率 | 46.0% | — |
| 营业利润率 | 7.6% | 38.6% |
| 净利率 | 6.9% | 21.8% |
| 营收同比 | 42.8% | 12.5% |
| 净利润同比 | 201.2% | 22.2% |
| 每股收益（稀释后） | $0.28 | $1.94 |
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DKNGMSGE
| Q4 25 | $2.0B | $424.8M | ||
| Q3 25 | $1.1B | $154.1M | ||
| Q2 25 | $1.5B | $145.1M | ||
| Q1 25 | $1.4B | $206.0M | ||
| Q4 24 | $1.4B | $377.6M | ||
| Q3 24 | $1.1B | $134.1M | ||
| Q2 24 | $1.1B | $177.6M | ||
| Q1 24 | $1.2B | $191.6M |
净利润DKNGMSGE
| Q4 25 | $136.4M | $92.7M | ||
| Q3 25 | $-256.8M | $-21.7M | ||
| Q2 25 | $157.9M | $-27.2M | ||
| Q1 25 | $-33.9M | $8.0M | ||
| Q4 24 | $-134.9M | $75.9M | ||
| Q3 24 | $-293.7M | $-19.3M | ||
| Q2 24 | $63.8M | $66.9M | ||
| Q1 24 | $-142.6M | $2.8M |
毛利率DKNGMSGE
| Q4 25 | 46.0% | — | ||
| Q3 25 | 31.5% | — | ||
| Q2 25 | 43.5% | — | ||
| Q1 25 | 40.1% | — | ||
| Q4 24 | 40.1% | — | ||
| Q3 24 | 32.2% | — | ||
| Q2 24 | 39.9% | — | ||
| Q1 24 | 39.6% | — |
营业利润率DKNGMSGE
| Q4 25 | 7.6% | 38.6% | ||
| Q3 25 | -23.8% | -19.3% | ||
| Q2 25 | 10.0% | -17.7% | ||
| Q1 25 | -3.3% | 13.3% | ||
| Q4 24 | -10.0% | 36.8% | ||
| Q3 24 | -27.3% | -13.8% | ||
| Q2 24 | -2.9% | -5.0% | ||
| Q1 24 | -11.8% | 8.8% |
净利率DKNGMSGE
| Q4 25 | 6.9% | 21.8% | ||
| Q3 25 | -22.4% | -14.0% | ||
| Q2 25 | 10.4% | -18.7% | ||
| Q1 25 | -2.4% | 3.9% | ||
| Q4 24 | -9.7% | 20.1% | ||
| Q3 24 | -26.8% | -14.4% | ||
| Q2 24 | 5.8% | 37.7% | ||
| Q1 24 | -12.1% | 1.5% |
每股收益（稀释后）DKNGMSGE
| Q4 25 | $0.28 | $1.94 | ||
| Q3 25 | $-0.52 | $-0.46 | ||
| Q2 25 | $0.30 | $-0.56 | ||
| Q1 25 | $-0.07 | $0.17 | ||
| Q4 24 | $-0.25 | $1.56 | ||
| Q3 24 | $-0.60 | $-0.40 | ||
| Q2 24 | $0.10 | $1.32 | ||
| Q1 24 | $-0.30 | $0.06 |
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 | $157.1M |
| 总债务越低越好 | — | $554.6M |
| 股东权益账面价值 | $631.5M | $36.0M |
| 总资产 | $4.5B | $1.8B |
| 负债/权益比越低杠杆越低 | — | 15.40× |
8季度趋势，按日历期对齐
现金及短期投资DKNGMSGE
| Q4 25 | $1.1B | $157.1M | ||
| Q3 25 | $1.2B | $29.9M | ||
| Q2 25 | $1.3B | $43.0M | ||
| Q1 25 | $1.1B | $89.0M | ||
| Q4 24 | $788.3M | $54.9M | ||
| Q3 24 | $877.8M | $37.3M | ||
| Q2 24 | $815.9M | $33.3M | ||
| Q1 24 | $1.2B | $28.0M |
总债务DKNGMSGE
| Q4 25 | — | $554.6M | ||
| Q3 25 | — | $581.7M | ||
| Q2 25 | — | $568.8M | ||
| Q1 25 | — | $577.4M | ||
| Q4 24 | — | $584.7M | ||
| Q3 24 | — | $647.0M | ||
| Q2 24 | — | $599.2M | ||
| Q1 24 | — | $602.5M |
股东权益DKNGMSGE
| Q4 25 | $631.5M | $36.0M | ||
| Q3 25 | $732.3M | $-65.8M | ||
| Q2 25 | $1.0B | $-13.3M | ||
| Q1 25 | $872.9M | $9.5M | ||
| Q4 24 | $1.0B | $10.3M | ||
| Q3 24 | $1.1B | $-48.7M | ||
| Q2 24 | $1.3B | $-23.2M | ||
| Q1 24 | $831.0M | $-94.6M |
总资产DKNGMSGE
| Q4 25 | $4.5B | $1.8B | ||
| Q3 25 | $4.6B | $1.7B | ||
| Q2 25 | $4.5B | $1.7B | ||
| Q1 25 | $4.5B | $1.7B | ||
| Q4 24 | $4.3B | $1.6B | ||
| Q3 24 | $4.3B | $1.6B | ||
| Q2 24 | $4.2B | $1.6B | ||
| Q1 24 | $3.8B | $1.5B |
负债/权益比DKNGMSGE
| Q4 25 | — | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 60.61× | ||
| Q4 24 | — | 56.61× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $320.5M | $164.4M |
| 自由现金流经营现金流 - 资本支出 | $316.5M | — |
| 自由现金流率自由现金流/营收 | 15.9% | — |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 现金转化率经营现金流/净利润 | 2.35× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $647.5M | — |
8季度趋势，按日历期对齐
经营现金流DKNGMSGE
| Q4 25 | $320.5M | $164.4M | ||
| Q3 25 | $287.5M | $19.8M | ||
| Q2 25 | $173.9M | $-27.0M | ||
| Q1 25 | $-119.0M | $56.8M | ||
| Q4 24 | $325.2M | $112.9M | ||
| Q3 24 | $133.6M | $-27.4M | ||
| Q2 24 | $29.4M | $212.0K | ||
| Q1 24 | $-70.4M | $5.8M |
自由现金流DKNGMSGE
| Q4 25 | $316.5M | — | ||
| Q3 25 | $283.0M | — | ||
| Q2 25 | $169.6M | — | ||
| Q1 25 | $-121.7M | — | ||
| Q4 24 | $323.2M | — | ||
| Q3 24 | $130.9M | — | ||
| Q2 24 | $27.0M | — | ||
| Q1 24 | $-73.4M | — |
自由现金流率DKNGMSGE
| Q4 25 | 15.9% | — | ||
| Q3 25 | 24.7% | — | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | -8.6% | — | ||
| Q4 24 | 23.2% | — | ||
| Q3 24 | 11.9% | — | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | -6.2% | — |
资本支出强度DKNGMSGE
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.3% | — |
现金转化率DKNGMSGE
| Q4 25 | 2.35× | 1.77× | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.10× | — | ||
| Q1 25 | — | 7.07× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.46× | 0.00× | ||
| Q1 24 | — | 2.08× |
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
DKNG
| Sportsbook | $1.4B | 68% |
| I Gaming | $500.2M | 25% |
| Other | $137.9M | 7% |
MSGE
| Ticketing And Venue License Fee Revenues | $263.5M | 62% |
| Food Beverage And Merchandise Revenues | $64.3M | 15% |
| Related Party | $43.9M | 10% |
| Arena Licensing Fees And Other Leasing Revenue | $35.2M | 8% |
| Other | $15.9M | 4% |
