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GOLDEN ENTERTAINMENT, INC.（GDEN）与StubHub Holdings, Inc.（STUB）财务数据对比。点击上方公司名可切换其他公司
StubHub Holdings, Inc.的季度营收约是GOLDEN ENTERTAINMENT, INC.的3.0倍（$468.1M vs $155.6M）。GOLDEN ENTERTAINMENT, INC.净利率更高（-5.5% vs -276.6%，领先271.1%）。StubHub Holdings, Inc.同比增速更快（7.9% vs -5.2%）。StubHub Holdings, Inc.自由现金流更多（$180.3M vs $-4.4M）
黄金娱乐公司是一家总部位于内华达州恩特普赖斯的美国博彩企业，成立于2015年，由黄金博彩与莱克斯娱乐合并而来。该公司目前在内华达南部运营8家度假赌场，同时也是内华达州规模最大的酒馆运营商，2017年10月曾以8.5亿美元完成对美国赌场娱乐地产公司的收购。
StubHub Holdings是全球领先的在线票务交易平台，提供演唱会、体育赛事、戏剧演出等各类现场娱乐活动的门票转售及直购服务，覆盖北美、欧洲、亚太等核心市场，为消费者、活动主办方和票务卖家提供安全可靠的交易渠道。
GDEN vs STUB — 直观对比
营收规模更大
STUB
是对方的3.0倍
$155.6M
营收增速更快
STUB
高出13.1%
-5.2%
净利率更高
GDEN
高出271.1%
-276.6%
自由现金流更多
STUB
多$184.6M
$-4.4M
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $155.6M | $468.1M |
| 净利润 | $-8.5M | $-1.3B |
| 毛利率 | 92.5% | — |
| 营业利润率 | -1.5% | -292.3% |
| 净利率 | -5.5% | -276.6% |
| 营收同比 | -5.2% | 7.9% |
| 净利润同比 | -386.0% | -3821.6% |
| 每股收益（稀释后） | $-0.31 | $-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GDENSTUB
| Q4 25 | $155.6M | — | ||
| Q3 25 | $154.8M | $468.1M | ||
| Q2 25 | $163.6M | — | ||
| Q1 25 | $160.8M | — | ||
| Q4 24 | $164.2M | — | ||
| Q3 24 | $161.2M | $433.8M | ||
| Q2 24 | $167.3M | — | ||
| Q1 24 | $174.0M | — |
净利润GDENSTUB
| Q4 25 | $-8.5M | — | ||
| Q3 25 | $-4.7M | $-1.3B | ||
| Q2 25 | $4.6M | — | ||
| Q1 25 | $2.5M | — | ||
| Q4 24 | $3.0M | — | ||
| Q3 24 | $5.2M | $-33.0M | ||
| Q2 24 | $623.0K | — | ||
| Q1 24 | $42.0M | — |
毛利率GDENSTUB
| Q4 25 | 92.5% | — | ||
| Q3 25 | 92.8% | — | ||
| Q2 25 | 93.1% | — | ||
| Q1 25 | 92.7% | — | ||
| Q4 24 | 96.3% | — | ||
| Q3 24 | 93.0% | — | ||
| Q2 24 | 93.2% | — | ||
| Q1 24 | 89.9% | — |
营业利润率GDENSTUB
| Q4 25 | -1.5% | — | ||
| Q3 25 | 0.6% | -292.3% | ||
| Q2 25 | 7.3% | — | ||
| Q1 25 | 6.9% | — | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | 4.2% | 2.8% | ||
| Q2 24 | 8.1% | — | ||
| Q1 24 | 46.0% | — |
净利率GDENSTUB
| Q4 25 | -5.5% | — | ||
| Q3 25 | -3.0% | -276.6% | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 1.8% | — | ||
| Q3 24 | 3.2% | -7.6% | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 24.1% | — |
每股收益（稀释后）GDENSTUB
| Q4 25 | $-0.31 | — | ||
| Q3 25 | $-0.18 | $-4.27 | ||
| Q2 25 | $0.17 | — | ||
| Q1 25 | $0.09 | — | ||
| Q4 24 | $0.14 | — | ||
| Q3 24 | $0.18 | $-0.15 | ||
| Q2 24 | $0.02 | — | ||
| Q1 24 | $1.37 | — |
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 | $55.3M | $1.4B |
| 总债务越低越好 | $426.6M | $1.7B |
| 股东权益账面价值 | $420.9M | $1.7B |
| 总资产 | $1.0B | $5.6B |
| 负债/权益比越低杠杆越低 | 1.01× | 0.98× |
8季度趋势，按日历期对齐
现金及短期投资GDENSTUB
| Q4 25 | $55.3M | — | ||
| Q3 25 | $58.3M | $1.4B | ||
| Q2 25 | $52.3M | — | ||
| Q1 25 | $50.5M | — | ||
| Q4 24 | $57.7M | — | ||
| Q3 24 | $68.6M | $1.1B | ||
| Q2 24 | $88.6M | — | ||
| Q1 24 | $404.3M | — |
总债务GDENSTUB
| Q4 25 | $426.6M | — | ||
| Q3 25 | $417.3M | $1.7B | ||
| Q2 25 | $423.3M | — | ||
| Q1 25 | $399.3M | — | ||
| Q4 24 | $405.3M | — | ||
| Q3 24 | $386.3M | — | ||
| Q2 24 | $388.2M | — | ||
| Q1 24 | $660.9M | — |
股东权益GDENSTUB
| Q4 25 | $420.9M | — | ||
| Q3 25 | $434.2M | $1.7B | ||
| Q2 25 | $443.3M | — | ||
| Q1 25 | $462.0M | — | ||
| Q4 24 | $474.2M | — | ||
| Q3 24 | $513.1M | $815.9M | ||
| Q2 24 | $539.0M | — | ||
| Q1 24 | $569.6M | — |
总资产GDENSTUB
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.0B | $5.6B | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.5B | — |
负债/权益比GDENSTUB
| Q4 25 | 1.01× | — | ||
| Q3 25 | 0.96× | 0.98× | ||
| Q2 25 | 0.95× | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.75× | — | ||
| Q2 24 | 0.72× | — | ||
| Q1 24 | 1.16× | — |
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 | $10.2M | $181.4M |
| 自由现金流经营现金流 - 资本支出 | $-4.4M | $180.3M |
| 自由现金流率自由现金流/营收 | -2.8% | 38.5% |
| 资本支出强度资本支出/营收 | 9.4% | 0.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $35.6M | — |
8季度趋势，按日历期对齐
经营现金流GDENSTUB
| Q4 25 | $10.2M | — | ||
| Q3 25 | $26.9M | $181.4M | ||
| Q2 25 | $17.4M | — | ||
| Q1 25 | $28.6M | — | ||
| Q4 24 | $22.5M | — | ||
| Q3 24 | $22.5M | — | ||
| Q2 24 | $21.5M | — | ||
| Q1 24 | $25.8M | — |
自由现金流GDENSTUB
| Q4 25 | $-4.4M | — | ||
| Q3 25 | $19.3M | $180.3M | ||
| Q2 25 | $4.0M | — | ||
| Q1 25 | $16.6M | — | ||
| Q4 24 | $14.3M | — | ||
| Q3 24 | $14.7M | — | ||
| Q2 24 | $3.9M | — | ||
| Q1 24 | $9.5M | — |
自由现金流率GDENSTUB
| Q4 25 | -2.8% | — | ||
| Q3 25 | 12.5% | 38.5% | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 10.4% | — | ||
| Q4 24 | 8.7% | — | ||
| Q3 24 | 9.1% | — | ||
| Q2 24 | 2.3% | — | ||
| Q1 24 | 5.5% | — |
资本支出强度GDENSTUB
| Q4 25 | 9.4% | — | ||
| Q3 25 | 4.9% | 0.2% | ||
| Q2 25 | 8.2% | — | ||
| Q1 25 | 7.4% | — | ||
| Q4 24 | 5.0% | — | ||
| Q3 24 | 4.9% | — | ||
| Q2 24 | 10.5% | — | ||
| Q1 24 | 9.3% | — |
现金转化率GDENSTUB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.76× | — | ||
| Q1 25 | 11.43× | — | ||
| Q4 24 | 7.57× | — | ||
| Q3 24 | 4.36× | — | ||
| Q2 24 | 34.51× | — | ||
| Q1 24 | 0.61× | — |
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
GDEN
| Nevada Casino Resorts | $90.2M | 58% |
| Nevada Locals Casinos | $37.4M | 24% |
| Nevada Taverns | $27.7M | 18% |
STUB
| Transaction Fees | $453.4M | 97% |
| Other | $14.7M | 3% |
