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美国艺电（EA）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的季度营收约是美国艺电的2.0倍（$3.8B vs $1.9B），美国艺电净利率更高（4.6% vs -31.8%，领先36.4%），美国艺电同比增速更快（1.0% vs -4.3%），过去两年美国艺电的营收复合增速更高（3.4% vs -2.8%）
美国艺电（EA）是总部位于美国加利福尼亚州雷德伍德城的电子游戏企业，1982年5月由前苹果员工特里普·霍金斯创立。作为早期家用电脑游戏行业的先驱，公司将旗下游戏设计师与程序员称作“软件艺术家”，是全球知名的游戏厂商。
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。
EA vs SATS — 直观对比
营收规模更大
SATS
是对方的2.0倍
$1.9B
营收增速更快
EA
高出5.3%
-4.3%
净利率更高
EA
高出36.4%
-31.8%
两年增速更快
EA
近两年复合增速
-2.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $3.8B |
| 净利润 | $88.0M | $-1.2B |
| 毛利率 | 73.8% | — |
| 营业利润率 | 6.7% | -20.5% |
| 净利率 | 4.6% | -31.8% |
| 营收同比 | 1.0% | -4.3% |
| 净利润同比 | -70.0% | -460.1% |
| 每股收益（稀释后） | $0.35 | $-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EASATS
| Q4 25 | $1.9B | $3.8B | ||
| Q3 25 | $1.8B | $3.6B | ||
| Q2 25 | $1.7B | $3.7B | ||
| Q1 25 | $1.9B | $3.9B | ||
| Q4 24 | $1.9B | $4.0B | ||
| Q3 24 | $2.0B | $3.9B | ||
| Q2 24 | $1.7B | $4.0B | ||
| Q1 24 | $1.8B | $4.0B |
净利润EASATS
| Q4 25 | $88.0M | $-1.2B | ||
| Q3 25 | $137.0M | $-12.8B | ||
| Q2 25 | $201.0M | $-306.1M | ||
| Q1 25 | $254.0M | $-202.7M | ||
| Q4 24 | $293.0M | $335.2M | ||
| Q3 24 | $294.0M | $-141.8M | ||
| Q2 24 | $280.0M | $-205.6M | ||
| Q1 24 | $182.0M | $-107.4M |
毛利率EASATS
| Q4 25 | 73.8% | — | ||
| Q3 25 | 75.9% | — | ||
| Q2 25 | 83.3% | — | ||
| Q1 25 | 80.6% | — | ||
| Q4 24 | 75.8% | — | ||
| Q3 24 | 77.5% | — | ||
| Q2 24 | 84.2% | — | ||
| Q1 24 | 79.9% | — |
营业利润率EASATS
| Q4 25 | 6.7% | -20.5% | ||
| Q3 25 | 10.9% | -460.5% | ||
| Q2 25 | 16.2% | -5.7% | ||
| Q1 25 | 20.8% | -2.3% | ||
| Q4 24 | 20.0% | -1.6% | ||
| Q3 24 | 19.0% | -4.1% | ||
| Q2 24 | 21.9% | -1.7% | ||
| Q1 24 | 13.2% | -0.4% |
净利率EASATS
| Q4 25 | 4.6% | -31.8% | ||
| Q3 25 | 7.4% | -353.6% | ||
| Q2 25 | 12.0% | -8.2% | ||
| Q1 25 | 13.4% | -5.2% | ||
| Q4 24 | 15.6% | 8.5% | ||
| Q3 24 | 14.5% | -3.6% | ||
| Q2 24 | 16.9% | -5.2% | ||
| Q1 24 | 10.2% | -2.7% |
每股收益（稀释后）EASATS
| Q4 25 | $0.35 | $-4.27 | ||
| Q3 25 | $0.54 | $-44.37 | ||
| Q2 25 | $0.79 | $-1.06 | ||
| Q1 25 | $0.99 | $-0.71 | ||
| Q4 24 | $1.11 | $1.24 | ||
| Q3 24 | $1.11 | $-0.52 | ||
| Q2 24 | $1.04 | $-0.76 | ||
| Q1 24 | $0.67 | $-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 | $2.8B | $3.0B |
| 总债务越低越好 | — | $18.7B |
| 股东权益账面价值 | $6.2B | $5.8B |
| 总资产 | $13.3B | $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EASATS
| Q4 25 | $2.8B | $3.0B | ||
| Q3 25 | $1.1B | $3.9B | ||
| Q2 25 | $1.5B | $4.3B | ||
| Q1 25 | $2.1B | $5.1B | ||
| Q4 24 | $2.8B | $5.5B | ||
| Q3 24 | $2.2B | $674.4M | ||
| Q2 24 | $2.4B | $520.6M | ||
| Q1 24 | $2.9B | $766.4M |
总债务EASATS
| 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EASATS
| Q4 25 | $6.2B | $5.8B | ||
| Q3 25 | $6.0B | $7.0B | ||
| Q2 25 | $6.1B | $19.7B | ||
| Q1 25 | $6.4B | $20.0B | ||
| Q4 24 | $7.4B | $20.2B | ||
| Q3 24 | $7.4B | $19.4B | ||
| Q2 24 | $7.4B | $19.6B | ||
| Q1 24 | $7.5B | $19.8B |
总资产EASATS
| Q4 25 | $13.3B | $43.0B | ||
| Q3 25 | $11.9B | $45.3B | ||
| Q2 25 | $11.7B | $59.9B | ||
| Q1 25 | $12.4B | $60.6B | ||
| Q4 24 | $13.5B | $60.9B | ||
| Q3 24 | $13.1B | $57.5B | ||
| Q2 24 | $12.7B | $55.3B | ||
| Q1 24 | $13.4B | $55.6B |
负债/权益比EASATS
| 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 | $1.8B | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | — | $-583.4M |
| 自由现金流率自由现金流/营收 | — | -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 | 20.75× | — |
| 过去12个月自由现金流最近4个季度 | — | $-1.1B |
8季度趋势，按日历期对齐
经营现金流EASATS
| Q4 25 | $1.8B | $-425.3M | ||
| Q3 25 | $130.0M | $111.7M | ||
| Q2 25 | $17.0M | $7.5M | ||
| Q1 25 | $549.0M | $206.8M | ||
| Q4 24 | $1.2B | $45.6M | ||
| Q3 24 | $234.0M | $276.2M | ||
| Q2 24 | $120.0M | $479.7M | ||
| Q1 24 | $580.0M | $451.3M |
自由现金流EASATS
| Q4 25 | — | $-583.4M | ||
| Q3 25 | — | $-144.4M | ||
| Q2 25 | — | $-285.7M | ||
| Q1 25 | — | $-51.7M | ||
| Q4 24 | — | $-298.7M | ||
| Q3 24 | — | $-57.5M | ||
| Q2 24 | — | $132.4M | ||
| Q1 24 | — | $-68.4M |
自由现金流率EASATS
| Q4 25 | — | -15.4% | ||
| Q3 25 | — | -4.0% | ||
| Q2 25 | — | -7.7% | ||
| Q1 25 | — | -1.3% | ||
| Q4 24 | — | -7.5% | ||
| Q3 24 | — | -1.5% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | -1.7% |
资本支出强度EASATS
| Q4 25 | — | 4.2% | ||
| Q3 25 | — | 7.1% | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | 6.7% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 8.6% | ||
| Q2 24 | — | 8.8% | ||
| Q1 24 | — | 12.9% |
现金转化率EASATS
| Q4 25 | 20.75× | — | ||
| Q3 25 | 0.95× | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 2.16× | — | ||
| Q4 24 | 4.01× | 0.14× | ||
| Q3 24 | 0.80× | — | ||
| Q2 24 | 0.43× | — | ||
| Q1 24 | 3.19× | — |
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
EA
| Live Services And Other Net Revenue | $1.3B | 67% |
| PC And Other Net Revenue | $465.0M | 24% |
| Packaged Goods Net Revenue | $86.0M | 5% |
| Other | $56.0M | 3% |
| Estimated Service Offering Period | $25.0M | 1% |
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% |
