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福克斯集团（FOXA）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
福克斯集团的季度营收约是EchoStar CORP的1.4倍（$5.2B vs $3.8B），福克斯集团净利率更高（4.8% vs -31.8%，领先36.6%），福克斯集团同比增速更快（2.0% vs -4.3%），EchoStar CORP自由现金流更多（$-583.4M vs $-791.0M），过去两年福克斯集团的营收复合增速更高（22.6% vs -2.8%）
福克斯集团是美国跨国大众传媒企业，总部位于纽约曼哈顿中城美洲大道1211号，在加州伯班克也设有办公点。公司以威廉·福克斯命名，在特拉华州注册，2019年3月19日从21世纪福克斯分拆而来，承接后者的电视广播、新闻及体育业务，由拉克兰·默多克通过家族信托持有36%投票权实现控股。
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。
FOXA vs SATS — 直观对比
营收规模更大
FOXA
是对方的1.4倍
$3.8B
营收增速更快
FOXA
高出6.4%
-4.3%
净利率更高
FOXA
高出36.6%
-31.8%
自由现金流更多
SATS
多$207.6M
$-791.0M
两年增速更快
FOXA
近两年复合增速
-2.8%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.2B | $3.8B |
| 净利润 | $247.0M | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | 6.2% | -20.5% |
| 净利率 | 4.8% | -31.8% |
| 营收同比 | 2.0% | -4.3% |
| 净利润同比 | -36.3% | -460.1% |
| 每股收益（稀释后） | $0.52 | $-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FOXASATS
| Q4 25 | $5.2B | $3.8B | ||
| Q3 25 | $3.7B | $3.6B | ||
| Q2 25 | $3.3B | $3.7B | ||
| Q1 25 | $4.4B | $3.9B | ||
| Q4 24 | $5.1B | $4.0B | ||
| Q3 24 | $3.6B | $3.9B | ||
| Q2 24 | $3.1B | $4.0B | ||
| Q1 24 | $3.4B | $4.0B |
净利润FOXASATS
| Q4 25 | $247.0M | $-1.2B | ||
| Q3 25 | $609.0M | $-12.8B | ||
| Q2 25 | $719.0M | $-306.1M | ||
| Q1 25 | $354.0M | $-202.7M | ||
| Q4 24 | $388.0M | $335.2M | ||
| Q3 24 | $832.0M | $-141.8M | ||
| Q2 24 | $320.0M | $-205.6M | ||
| Q1 24 | $704.0M | $-107.4M |
营业利润率FOXASATS
| Q4 25 | 6.2% | -20.5% | ||
| Q3 25 | 21.4% | -460.5% | ||
| Q2 25 | 29.2% | -5.7% | ||
| Q1 25 | 10.8% | -2.3% | ||
| Q4 24 | 10.1% | -1.6% | ||
| Q3 24 | 31.2% | -4.1% | ||
| Q2 24 | 14.6% | -1.7% | ||
| Q1 24 | 27.9% | -0.4% |
净利率FOXASATS
| Q4 25 | 4.8% | -31.8% | ||
| Q3 25 | 16.3% | -353.6% | ||
| Q2 25 | 21.9% | -8.2% | ||
| Q1 25 | 8.1% | -5.2% | ||
| Q4 24 | 7.6% | 8.5% | ||
| Q3 24 | 23.3% | -3.6% | ||
| Q2 24 | 10.3% | -5.2% | ||
| Q1 24 | 20.4% | -2.7% |
每股收益（稀释后）FOXASATS
| Q4 25 | $0.52 | $-4.27 | ||
| Q3 25 | $1.32 | $-44.37 | ||
| Q2 25 | $1.57 | $-1.06 | ||
| Q1 25 | $0.75 | $-0.71 | ||
| Q4 24 | $0.81 | $1.24 | ||
| Q3 24 | $1.78 | $-0.52 | ||
| Q2 24 | $0.68 | $-0.76 | ||
| Q1 24 | $1.40 | $-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 | — | $3.0B |
| 总债务越低越好 | — | $18.7B |
| 股东权益账面价值 | $10.9B | $5.8B |
| 总资产 | $21.5B | $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FOXASATS
| Q4 25 | — | $3.0B | ||
| Q3 25 | — | $3.9B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | $674.4M | ||
| Q2 24 | — | $520.6M | ||
| Q1 24 | — | $766.4M |
总债务FOXASATS
| Q4 25 | — | $18.7B | ||
| Q3 25 | $6.6B | $21.8B | ||
| Q2 25 | $6.6B | $25.4B | ||
| Q1 25 | $7.2B | $25.3B | ||
| Q4 24 | $7.2B | $25.7B | ||
| Q3 24 | $7.2B | — | ||
| Q2 24 | $7.2B | — | ||
| Q1 24 | $7.2B | $951.0M |
股东权益FOXASATS
| Q4 25 | $10.9B | $5.8B | ||
| Q3 25 | $12.2B | $7.0B | ||
| Q2 25 | $12.0B | $19.7B | ||
| Q1 25 | $11.5B | $20.0B | ||
| Q4 24 | $11.5B | $20.2B | ||
| Q3 24 | $11.3B | $19.4B | ||
| Q2 24 | $10.7B | $19.6B | ||
| Q1 24 | $10.6B | $19.8B |
总资产FOXASATS
| Q4 25 | $21.5B | $43.0B | ||
| Q3 25 | $22.8B | $45.3B | ||
| Q2 25 | $23.2B | $59.9B | ||
| Q1 25 | $23.4B | $60.6B | ||
| Q4 24 | $23.0B | $60.9B | ||
| Q3 24 | $22.5B | $57.5B | ||
| Q2 24 | $22.0B | $55.3B | ||
| Q1 24 | $21.7B | $55.6B |
负债/权益比FOXASATS
| Q4 25 | — | 3.24× | ||
| Q3 25 | 0.54× | 3.13× | ||
| Q2 25 | 0.55× | 1.29× | ||
| Q1 25 | 0.62× | 1.27× | ||
| Q4 24 | 0.63× | 1.27× | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.67× | — | ||
| Q1 24 | 0.68× | 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 | $-669.0M | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $-791.0M | $-583.4M |
| 自由现金流率自由现金流/营收 | -15.3% | -15.4% |
| 资本支出强度资本支出/营收 | 2.4% | 4.2% |
| 现金转化率经营现金流/净利润 | -2.71× | — |
| 过去12个月自由现金流最近4个季度 | $2.3B | $-1.1B |
8季度趋势，按日历期对齐
经营现金流FOXASATS
| Q4 25 | $-669.0M | $-425.3M | ||
| Q3 25 | $-130.0M | $111.7M | ||
| Q2 25 | $1.5B | $7.5M | ||
| Q1 25 | $2.0B | $206.8M | ||
| Q4 24 | $-362.0M | $45.6M | ||
| Q3 24 | $158.0M | $276.2M | ||
| Q2 24 | $899.0M | $479.7M | ||
| Q1 24 | $1.5B | $451.3M |
自由现金流FOXASATS
| Q4 25 | $-791.0M | $-583.4M | ||
| Q3 25 | $-234.0M | $-144.4M | ||
| Q2 25 | $1.4B | $-285.7M | ||
| Q1 25 | $1.9B | $-51.7M | ||
| Q4 24 | $-436.0M | $-298.7M | ||
| Q3 24 | $94.0M | $-57.5M | ||
| Q2 24 | $787.0M | $132.4M | ||
| Q1 24 | $1.4B | $-68.4M |
自由现金流率FOXASATS
| Q4 25 | -15.3% | -15.4% | ||
| Q3 25 | -6.3% | -4.0% | ||
| Q2 25 | 42.4% | -7.7% | ||
| Q1 25 | 44.4% | -1.3% | ||
| Q4 24 | -8.6% | -7.5% | ||
| Q3 24 | 2.6% | -1.5% | ||
| Q2 24 | 25.5% | 3.3% | ||
| Q1 24 | 40.4% | -1.7% |
资本支出强度FOXASATS
| Q4 25 | 2.4% | 4.2% | ||
| Q3 25 | 2.8% | 7.1% | ||
| Q2 25 | 3.6% | 7.9% | ||
| Q1 25 | 1.7% | 6.7% | ||
| Q4 24 | 1.5% | 8.7% | ||
| Q3 24 | 1.8% | 8.6% | ||
| Q2 24 | 3.6% | 8.8% | ||
| Q1 24 | 2.4% | 12.9% |
现金转化率FOXASATS
| Q4 25 | -2.71× | — | ||
| Q3 25 | -0.21× | — | ||
| Q2 25 | 2.10× | — | ||
| Q1 25 | 5.69× | — | ||
| Q4 24 | -0.93× | 0.14× | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 2.81× | — | ||
| Q1 24 | 2.10× | — |
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
FOXA
| Television Segment | $2.9B | 57% |
| Distribution | $1.2B | 22% |
| Other | $621.0M | 12% |
| Advertising | $491.0M | 9% |
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% |
