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FuboTV Inc.（FUBO）与明晟（MSCI）财务数据对比。点击上方公司名可切换其他公司
FuboTV Inc.的季度营收约是明晟的1.9倍（$1.5B vs $822.5M），明晟净利率更高（34.6% vs -0.4%，领先35.0%），FuboTV Inc.同比增速更快（249.4% vs 10.6%），明晟自由现金流更多（$488.7M vs $-200.8M），过去两年FuboTV Inc.的营收复合增速更高（94.3% vs 10.0%）
FuboTV Inc.（简称Fubo）是源自美国的互联网体育流媒体服务商，业务覆盖美国、加拿大与西班牙地区。该平台主打各类直播体育内容，可提供英超、NFL、MLB、NBA、NHL、MLS等各大主流顶级体育赛事转播，同时也涵盖新闻、剧集等综合影视娱乐内容。
MSCI（明晟）是总部位于美国纽约的金融服务企业，为全球市场提供股票、固定收益、房地产指数、多资产组合分析工具及ESG、气候金融相关产品，旗下运营MSCI全球指数、MSCI新兴市场指数、MSCI全球所有国家（ACWI）指数等多款知名指数产品。
FUBO vs MSCI — 直观对比
营收规模更大
FUBO
是对方的1.9倍
$822.5M
营收增速更快
FUBO
高出238.7%
10.6%
净利率更高
MSCI
高出35.0%
-0.4%
自由现金流更多
MSCI
多$689.5M
$-200.8M
两年增速更快
FUBO
近两年复合增速
10.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $822.5M |
| 净利润 | $-6.0M | $284.7M |
| 毛利率 | — | — |
| 营业利润率 | -1.3% | 56.4% |
| 净利率 | -0.4% | 34.6% |
| 营收同比 | 249.4% | 10.6% |
| 净利润同比 | 84.5% | -6.8% |
| 每股收益（稀释后） | $-0.02 | $3.81 |
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FUBOMSCI
| Q4 25 | $1.5B | $822.5M | ||
| Q3 25 | $377.2M | $793.4M | ||
| Q2 25 | $380.0M | $772.7M | ||
| Q1 25 | $416.3M | $745.8M | ||
| Q4 24 | — | $743.5M | ||
| Q3 24 | $386.2M | $724.7M | ||
| Q2 24 | $391.0M | $707.9M | ||
| Q1 24 | $402.3M | $680.0M |
净利润FUBOMSCI
| Q4 25 | $-6.0M | $284.7M | ||
| Q3 25 | $-18.9M | $325.4M | ||
| Q2 25 | $-8.0M | $303.6M | ||
| Q1 25 | $188.5M | $288.6M | ||
| Q4 24 | — | $305.5M | ||
| Q3 24 | $-52.4M | $280.9M | ||
| Q2 24 | $-25.3M | $266.8M | ||
| Q1 24 | $-56.0M | $256.0M |
营业利润率FUBOMSCI
| Q4 25 | -1.3% | 56.4% | ||
| Q3 25 | -5.3% | 56.4% | ||
| Q2 25 | -1.6% | 55.0% | ||
| Q1 25 | -6.1% | 50.6% | ||
| Q4 24 | — | 54.5% | ||
| Q3 24 | -15.2% | 55.4% | ||
| Q2 24 | -9.1% | 54.0% | ||
| Q1 24 | -15.7% | 49.9% |
净利率FUBOMSCI
| Q4 25 | -0.4% | 34.6% | ||
| Q3 25 | -5.0% | 41.0% | ||
| Q2 25 | -2.1% | 39.3% | ||
| Q1 25 | 45.3% | 38.7% | ||
| Q4 24 | — | 41.1% | ||
| Q3 24 | -13.6% | 38.8% | ||
| Q2 24 | -6.5% | 37.7% | ||
| Q1 24 | -13.9% | 37.6% |
每股收益（稀释后）FUBOMSCI
| Q4 25 | $-0.02 | $3.81 | ||
| Q3 25 | $-0.06 | $4.25 | ||
| Q2 25 | $-0.02 | $3.92 | ||
| Q1 25 | $0.55 | $3.71 | ||
| Q4 24 | — | $3.89 | ||
| Q3 24 | $-0.16 | $3.57 | ||
| Q2 24 | $-0.08 | $3.37 | ||
| Q1 24 | $-0.19 | $3.22 |
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 | $452.4M | $515.3M |
| 总债务越低越好 | — | $6.2B |
| 股东权益账面价值 | $275.5M | $-2.7B |
| 总资产 | $4.1B | $5.7B |
| 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FUBOMSCI
| Q4 25 | $452.4M | $515.3M | ||
| Q3 25 | — | $400.1M | ||
| Q2 25 | $283.6M | $347.3M | ||
| Q1 25 | $321.6M | $360.7M | ||
| Q4 24 | — | $409.4M | ||
| Q3 24 | $146.2M | $501.0M | ||
| Q2 24 | $155.2M | $451.4M | ||
| Q1 24 | $168.9M | $519.3M |
总债务FUBOMSCI
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.5B | ||
| Q1 24 | — | $4.5B |
股东权益FUBOMSCI
| Q4 25 | $275.5M | $-2.7B | ||
| Q3 25 | $915.3M | $-1.9B | ||
| Q2 25 | $400.4M | $-886.2M | ||
| Q1 25 | $389.0M | $-958.6M | ||
| Q4 24 | — | $-940.0M | ||
| Q3 24 | $905.3M | $-751.0M | ||
| Q2 24 | $254.2M | $-734.5M | ||
| Q1 24 | $236.1M | $-650.5M |
总资产FUBOMSCI
| Q4 25 | $4.1B | $5.7B | ||
| Q3 25 | $1.3B | $5.4B | ||
| Q2 25 | $1.2B | $5.4B | ||
| Q1 25 | $1.2B | $5.3B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | $1.1B | $5.4B | ||
| Q2 24 | $1.1B | $5.5B | ||
| Q1 24 | $1.1B | $5.5B |
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 | $-200.3M | $501.1M |
| 自由现金流经营现金流 - 资本支出 | $-200.8M | $488.7M |
| 自由现金流率自由现金流/营收 | -13.0% | 59.4% |
| 资本支出强度资本支出/营收 | 0.0% | 1.5% |
| 现金转化率经营现金流/净利润 | — | 1.76× |
| 过去12个月自由现金流最近4个季度 | $-81.3M | $1.5B |
8季度趋势，按日历期对齐
经营现金流FUBOMSCI
| Q4 25 | $-200.3M | $501.1M | ||
| Q3 25 | $-6.5M | $449.4M | ||
| Q2 25 | $-34.6M | $336.1M | ||
| Q1 25 | $161.4M | $301.7M | ||
| Q4 24 | — | $430.6M | ||
| Q3 24 | $235.0K | $421.6M | ||
| Q2 24 | $-32.3M | $349.2M | ||
| Q1 24 | $-67.3M | $300.1M |
自由现金流FUBOMSCI
| Q4 25 | $-200.8M | $488.7M | ||
| Q3 25 | $-6.5M | $445.5M | ||
| Q2 25 | $-35.0M | $324.7M | ||
| Q1 25 | $161.1M | $290.2M | ||
| Q4 24 | — | $416.4M | ||
| Q3 24 | $-1.3M | $415.0M | ||
| Q2 24 | $-32.5M | $340.6M | ||
| Q1 24 | $-67.4M | $295.9M |
自由现金流率FUBOMSCI
| Q4 25 | -13.0% | 59.4% | ||
| Q3 25 | -1.7% | 56.2% | ||
| Q2 25 | -9.2% | 42.0% | ||
| Q1 25 | 38.7% | 38.9% | ||
| Q4 24 | — | 56.0% | ||
| Q3 24 | -0.3% | 57.3% | ||
| Q2 24 | -8.3% | 48.1% | ||
| Q1 24 | -16.7% | 43.5% |
资本支出强度FUBOMSCI
| Q4 25 | 0.0% | 1.5% | ||
| Q3 25 | 0.0% | 0.5% | ||
| Q2 25 | 0.1% | 1.5% | ||
| Q1 25 | 0.1% | 1.5% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | 0.4% | 0.9% | ||
| Q2 24 | 0.1% | 1.2% | ||
| Q1 24 | 0.0% | 0.6% |
现金转化率FUBOMSCI
| Q4 25 | — | 1.76× | ||
| Q3 25 | — | 1.38× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | 0.86× | 1.05× | ||
| Q4 24 | — | 1.41× | ||
| Q3 24 | — | 1.50× | ||
| Q2 24 | — | 1.31× | ||
| Q1 24 | — | 1.17× |
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
FUBO
| Related Party | $1.2B | 75% |
| Subscription And Advertising | $377.9M | 24% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
