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Empire State Realty OP, L.P.（ESBA）与IMAX（IMAX）财务数据对比。点击上方公司名可切换其他公司
Empire State Realty OP, L.P.的季度营收约是IMAX的1.6倍（$199.2M vs $125.2M），Empire State Realty OP, L.P.净利率更高（16.1% vs 0.5%，领先15.6%），IMAX同比增速更快（35.1% vs 0.8%），Empire State Realty OP, L.P.自由现金流更多（$50.6M vs $28.0M），过去两年IMAX的营收复合增速更高（25.8% vs 4.9%）
Empire State Realty OP, L.P. 是一家房地产运营合伙企业，核心业务为持有、管理及出租优质商业与零售物业，主要布局纽约大都会区，旗下拥有帝国大厦等标志性地标，服务企业租户、零售品牌及旅游相关业务板块。
IMAX公司是加拿大的影视放映技术企业，1967年创立于蒙特利尔，总部位于多伦多地区，在纽约、洛杉矶均设有业务点。核心业务包括IMAX摄影机与放映系统的设计制造，同时面向全球合作影院提供影片开发、制作、后期及发行服务，是沉浸式观影技术领域的领先企业。
ESBA vs IMAX — 直观对比
营收规模更大
ESBA
是对方的1.6倍
$125.2M
营收增速更快
IMAX
高出34.3%
0.8%
净利率更高
ESBA
高出15.6%
0.5%
自由现金流更多
ESBA
多$22.6M
$28.0M
两年增速更快
IMAX
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.2M | $125.2M |
| 净利润 | $32.2M | $637.0K |
| 毛利率 | — | 57.6% |
| 营业利润率 | 17.8% | 19.3% |
| 净利率 | 16.1% | 0.5% |
| 营收同比 | 0.8% | 35.1% |
| 净利润同比 | 71.2% | -88.0% |
| 每股收益（稀释后） | $0.11 | $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ESBAIMAX
| Q4 25 | $199.2M | $125.2M | ||
| Q3 25 | $197.7M | $106.7M | ||
| Q2 25 | $191.3M | $91.7M | ||
| Q1 25 | $180.1M | $86.7M | ||
| Q4 24 | $197.6M | $92.7M | ||
| Q3 24 | $199.6M | $91.5M | ||
| Q2 24 | $189.5M | $89.0M | ||
| Q1 24 | $181.2M | $79.1M |
净利润ESBAIMAX
| Q4 25 | $32.2M | $637.0K | ||
| Q3 25 | $13.6M | $20.7M | ||
| Q2 25 | $11.4M | $11.3M | ||
| Q1 25 | $15.8M | $2.3M | ||
| Q4 24 | $18.8M | $5.3M | ||
| Q3 24 | $22.8M | $13.9M | ||
| Q2 24 | $28.6M | $3.6M | ||
| Q1 24 | $10.2M | $3.3M |
毛利率ESBAIMAX
| Q4 25 | — | 57.6% | ||
| Q3 25 | — | 63.1% | ||
| Q2 25 | — | 58.5% | ||
| Q1 25 | — | 61.4% | ||
| Q4 24 | — | 52.2% | ||
| Q3 24 | — | 55.8% | ||
| Q2 24 | — | 49.4% | ||
| Q1 24 | — | 59.3% |
营业利润率ESBAIMAX
| Q4 25 | 17.8% | 19.3% | ||
| Q3 25 | 19.9% | 27.2% | ||
| Q2 25 | 18.4% | 15.6% | ||
| Q1 25 | 14.3% | 19.3% | ||
| Q4 24 | 21.7% | 10.3% | ||
| Q3 24 | 22.7% | 21.2% | ||
| Q2 24 | 20.8% | 3.2% | ||
| Q1 24 | 17.1% | 15.3% |
净利率ESBAIMAX
| Q4 25 | 16.1% | 0.5% | ||
| Q3 25 | 6.9% | 19.4% | ||
| Q2 25 | 6.0% | 12.3% | ||
| Q1 25 | 8.8% | 2.7% | ||
| Q4 24 | 9.5% | 5.7% | ||
| Q3 24 | 11.4% | 15.2% | ||
| Q2 24 | 15.1% | 4.0% | ||
| Q1 24 | 5.6% | 4.1% |
每股收益（稀释后）ESBAIMAX
| Q4 25 | $0.11 | $0.02 | ||
| Q3 25 | $0.05 | $0.37 | ||
| Q2 25 | $0.04 | $0.20 | ||
| Q1 25 | $0.05 | $0.04 | ||
| Q4 24 | $0.07 | $0.09 | ||
| Q3 24 | $0.08 | $0.26 | ||
| Q2 24 | $0.10 | $0.07 | ||
| Q1 24 | $0.03 | $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 | $132.7M | $151.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $337.9M |
| 总资产 | $4.5B | $894.0M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ESBAIMAX
| Q4 25 | $132.7M | $151.2M | ||
| Q3 25 | $154.1M | $143.1M | ||
| Q2 25 | $94.6M | $109.3M | ||
| Q1 25 | $187.8M | $97.1M | ||
| Q4 24 | $385.5M | $100.6M | ||
| Q3 24 | $421.9M | $104.5M | ||
| Q2 24 | $535.5M | $91.6M | ||
| Q1 24 | $333.6M | $81.0M |
股东权益ESBAIMAX
| Q4 25 | — | $337.9M | ||
| Q3 25 | — | $349.5M | ||
| Q2 25 | — | $320.4M | ||
| Q1 25 | — | $299.5M | ||
| Q4 24 | — | $299.5M | ||
| Q3 24 | — | $289.4M | ||
| Q2 24 | — | $267.2M | ||
| Q1 24 | — | $258.8M |
总资产ESBAIMAX
| Q4 25 | $4.5B | $894.0M | ||
| Q3 25 | $4.1B | $889.6M | ||
| Q2 25 | $4.1B | $868.6M | ||
| Q1 25 | $4.1B | $848.3M | ||
| Q4 24 | $4.5B | $830.4M | ||
| Q3 24 | $4.4B | $847.6M | ||
| Q2 24 | $4.4B | $827.4M | ||
| Q1 24 | $4.2B | $824.1M |
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 | $249.1M | $29.4M |
| 自由现金流经营现金流 - 资本支出 | $50.6M | $28.0M |
| 自由现金流率自由现金流/营收 | 25.4% | 22.3% |
| 资本支出强度资本支出/营收 | 99.6% | 1.1% |
| 现金转化率经营现金流/净利润 | 7.74× | 46.11× |
| 过去12个月自由现金流最近4个季度 | $109.3M | $118.9M |
8季度趋势，按日历期对齐
经营现金流ESBAIMAX
| Q4 25 | $249.1M | $29.4M | ||
| Q3 25 | $105.3M | $67.5M | ||
| Q2 25 | $26.7M | $23.2M | ||
| Q1 25 | $83.1M | $7.0M | ||
| Q4 24 | $260.9M | $11.5M | ||
| Q3 24 | $102.8M | $35.3M | ||
| Q2 24 | $37.1M | $35.0M | ||
| Q1 24 | $70.9M | $-11.0M |
自由现金流ESBAIMAX
| Q4 25 | $50.6M | $28.0M | ||
| Q3 25 | $72.8M | $64.8M | ||
| Q2 25 | $-55.1M | $20.9M | ||
| Q1 25 | $41.1M | $5.3M | ||
| Q4 24 | $88.0M | $6.9M | ||
| Q3 24 | $-65.1M | $34.2M | ||
| Q2 24 | $19.5M | $33.5M | ||
| Q1 24 | $23.2M | $-12.1M |
自由现金流率ESBAIMAX
| Q4 25 | 25.4% | 22.3% | ||
| Q3 25 | 36.8% | 60.7% | ||
| Q2 25 | -28.8% | 22.8% | ||
| Q1 25 | 22.8% | 6.1% | ||
| Q4 24 | 44.5% | 7.4% | ||
| Q3 24 | -32.6% | 37.3% | ||
| Q2 24 | 10.3% | 37.6% | ||
| Q1 24 | 12.8% | -15.3% |
资本支出强度ESBAIMAX
| Q4 25 | 99.6% | 1.1% | ||
| Q3 25 | 16.5% | 2.6% | ||
| Q2 25 | 42.8% | 2.6% | ||
| Q1 25 | 23.4% | 1.9% | ||
| Q4 24 | 87.5% | 5.0% | ||
| Q3 24 | 84.1% | 1.2% | ||
| Q2 24 | 9.3% | 1.8% | ||
| Q1 24 | 26.3% | 1.4% |
现金转化率ESBAIMAX
| Q4 25 | 7.74× | 46.11× | ||
| Q3 25 | 7.72× | 3.27× | ||
| Q2 25 | 2.35× | 2.06× | ||
| Q1 25 | 5.27× | 2.99× | ||
| Q4 24 | 13.88× | 2.16× | ||
| Q3 24 | 4.51× | 2.54× | ||
| Q2 24 | 1.30× | 9.78× | ||
| Q1 24 | 6.94× | -3.35× |
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
ESBA
| Real Estate Segment | $163.8M | 82% |
| Observatory Segment | $35.2M | 18% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
