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Empire State Realty OP, L.P.（ESBA）与Tilray Brands, Inc.（TLRY）财务数据对比。点击上方公司名可切换其他公司
Tilray Brands, Inc.的季度营收约是Empire State Realty OP, L.P.的1.1倍（$217.5M vs $199.2M），Empire State Realty OP, L.P.净利率更高（16.1% vs -20.7%，领先36.8%），Tilray Brands, Inc.同比增速更快（3.1% vs 0.8%），过去两年Tilray Brands, Inc.的营收复合增速更高（7.5% 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。
Tilray Brands, Inc.是一家美国企业，主营医药、大麻生活方式产品以及包装消费品业务，公司注册于美国，总部坐落于纽约。该公司在加拿大、澳大利亚、新西兰、拉美地区均开展业务，同时在德国和葡萄牙拥有大麻种植基地。
ESBA vs TLRY — 直观对比
营收规模更大
TLRY
是对方的1.1倍
$199.2M
营收增速更快
TLRY
高出2.3%
0.8%
净利率更高
ESBA
高出36.8%
-20.7%
两年增速更快
TLRY
近两年复合增速
4.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.2M | $217.5M |
| 净利润 | $32.2M | $-44.9M |
| 毛利率 | — | 26.4% |
| 营业利润率 | 17.8% | -10.2% |
| 净利率 | 16.1% | -20.7% |
| 营收同比 | 0.8% | 3.1% |
| 净利润同比 | 71.2% | 47.4% |
| 每股收益（稀释后） | $0.11 | $-0.41 |
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ESBATLRY
| Q4 25 | $199.2M | $217.5M | ||
| Q3 25 | $197.7M | $209.5M | ||
| Q2 25 | $191.3M | $224.5M | ||
| Q1 25 | $180.1M | $185.8M | ||
| Q4 24 | $197.6M | $210.9M | ||
| Q3 24 | $199.6M | $200.0M | ||
| Q2 24 | $189.5M | $229.9M | ||
| Q1 24 | $181.2M | $188.3M |
净利润ESBATLRY
| Q4 25 | $32.2M | $-44.9M | ||
| Q3 25 | $13.6M | $-322.0K | ||
| Q2 25 | $11.4M | $-1.3B | ||
| Q1 25 | $15.8M | $-789.4M | ||
| Q4 24 | $18.8M | $-85.3M | ||
| Q3 24 | $22.8M | $-39.2M | ||
| Q2 24 | $28.6M | $-31.7M | ||
| Q1 24 | $10.2M | $-92.7M |
毛利率ESBATLRY
| Q4 25 | — | 26.4% | ||
| Q3 25 | — | 27.4% | ||
| Q2 25 | — | 30.1% | ||
| Q1 25 | — | 28.0% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 29.8% | ||
| Q2 24 | — | 35.8% | ||
| Q1 24 | — | 26.2% |
营业利润率ESBATLRY
| Q4 25 | 17.8% | -10.2% | ||
| Q3 25 | 19.9% | 1.0% | ||
| Q2 25 | 18.4% | -643.1% | ||
| Q1 25 | 14.3% | -409.0% | ||
| Q4 24 | 21.7% | -20.0% | ||
| Q3 24 | 22.7% | -18.3% | ||
| Q2 24 | 20.8% | -7.2% | ||
| Q1 24 | 17.1% | -43.6% |
净利率ESBATLRY
| Q4 25 | 16.1% | -20.7% | ||
| Q3 25 | 6.9% | -0.2% | ||
| Q2 25 | 6.0% | -566.9% | ||
| Q1 25 | 8.8% | -424.9% | ||
| Q4 24 | 9.5% | -40.5% | ||
| Q3 24 | 11.4% | -19.6% | ||
| Q2 24 | 15.1% | -13.8% | ||
| Q1 24 | 5.6% | -49.2% |
每股收益（稀释后）ESBATLRY
| Q4 25 | $0.11 | $-0.41 | ||
| Q3 25 | $0.05 | $0.00 | ||
| Q2 25 | $0.04 | $7.26 | ||
| Q1 25 | $0.05 | $-8.69 | ||
| Q4 24 | $0.07 | $-0.99 | ||
| Q3 24 | $0.08 | $-0.04 | ||
| Q2 24 | $0.10 | $-0.04 | ||
| Q1 24 | $0.03 | $-0.12 |
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 | $291.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $1.6B |
| 总资产 | $4.5B | $2.1B |
| 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ESBATLRY
| Q4 25 | $132.7M | $291.6M | ||
| Q3 25 | $154.1M | $264.8M | ||
| Q2 25 | $94.6M | $256.4M | ||
| Q1 25 | $187.8M | — | ||
| Q4 24 | $385.5M | $252.2M | ||
| Q3 24 | $421.9M | $280.1M | ||
| Q2 24 | $535.5M | $260.5M | ||
| Q1 24 | $333.6M | $225.9M |
股东权益ESBATLRY
| Q4 25 | — | $1.6B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $2.7B | ||
| Q4 24 | — | $3.5B | ||
| Q3 24 | — | $3.5B | ||
| Q2 24 | — | $3.4B | ||
| Q1 24 | — | $3.4B |
总资产ESBATLRY
| Q4 25 | $4.5B | $2.1B | ||
| Q3 25 | $4.1B | $2.1B | ||
| Q2 25 | $4.1B | $2.1B | ||
| Q1 25 | $4.1B | — | ||
| Q4 24 | $4.5B | $4.2B | ||
| Q3 24 | $4.4B | $4.3B | ||
| Q2 24 | $4.4B | $4.2B | ||
| Q1 24 | $4.2B | $4.2B |
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 | $-8.5M |
| 自由现金流经营现金流 - 资本支出 | $50.6M | — |
| 自由现金流率自由现金流/营收 | 25.4% | — |
| 资本支出强度资本支出/营收 | 99.6% | — |
| 现金转化率经营现金流/净利润 | 7.74× | — |
| 过去12个月自由现金流最近4个季度 | $109.3M | — |
8季度趋势，按日历期对齐
经营现金流ESBATLRY
| Q4 25 | $249.1M | $-8.5M | ||
| Q3 25 | $105.3M | $-1.3M | ||
| Q2 25 | $26.7M | $-12.8M | ||
| Q1 25 | $83.1M | $-5.8M | ||
| Q4 24 | $260.9M | $-40.7M | ||
| Q3 24 | $102.8M | $-35.3M | ||
| Q2 24 | $37.1M | $30.7M | ||
| Q1 24 | $70.9M | $-15.4M |
自由现金流ESBATLRY
| Q4 25 | $50.6M | — | ||
| Q3 25 | $72.8M | — | ||
| Q2 25 | $-55.1M | $-19.1M | ||
| Q1 25 | $41.1M | $-20.2M | ||
| Q4 24 | $88.0M | $-46.2M | ||
| Q3 24 | $-65.1M | $-42.0M | ||
| Q2 24 | $19.5M | $21.0M | ||
| Q1 24 | $23.2M | $-24.9M |
自由现金流率ESBATLRY
| Q4 25 | 25.4% | — | ||
| Q3 25 | 36.8% | — | ||
| Q2 25 | -28.8% | -8.5% | ||
| Q1 25 | 22.8% | -10.9% | ||
| Q4 24 | 44.5% | -21.9% | ||
| Q3 24 | -32.6% | -21.0% | ||
| Q2 24 | 10.3% | 9.1% | ||
| Q1 24 | 12.8% | -13.2% |
资本支出强度ESBATLRY
| Q4 25 | 99.6% | — | ||
| Q3 25 | 16.5% | — | ||
| Q2 25 | 42.8% | 2.8% | ||
| Q1 25 | 23.4% | 7.8% | ||
| Q4 24 | 87.5% | 2.6% | ||
| Q3 24 | 84.1% | 3.4% | ||
| Q2 24 | 9.3% | 4.2% | ||
| Q1 24 | 26.3% | 5.1% |
现金转化率ESBATLRY
| Q4 25 | 7.74× | — | ||
| Q3 25 | 7.72× | — | ||
| Q2 25 | 2.35× | — | ||
| Q1 25 | 5.27× | — | ||
| Q4 24 | 13.88× | — | ||
| Q3 24 | 4.51× | — | ||
| Q2 24 | 1.30× | — | ||
| Q1 24 | 6.94× | — |
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% |
TLRY
| Adultuse Cannabis Products | $62.4M | 29% |
| Other | $59.2M | 27% |
| Beverage Alcohol Business | $53.6M | 25% |
| International Cannabis Products | $20.2M | 9% |
| Wellness Business | $14.6M | 7% |
| Medical Cannabis Products | $6.2M | 3% |
| Wholesale Cannabis Products | $1.3M | 1% |
