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Globalstar, Inc.（GSAT）与IMAX（IMAX）财务数据对比。点击上方公司名可切换其他公司
IMAX的季度营收约是Globalstar, Inc.的1.7倍（$125.2M vs $72.0M），IMAX净利率更高（0.5% vs -16.1%，领先16.7%），IMAX同比增速更快（35.1% vs 17.6%），过去两年IMAX的营收复合增速更高（25.8% vs 12.9%）
Globalstar Inc.是一家美国电信企业，运营近地轨道卫星星座，可提供卫星电话、低速数据传输及对地观测服务，其第二代卫星星座由25颗卫星组成，相关服务可覆盖全球大部分区域的通信及遥感需求。
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。
GSAT vs IMAX — 直观对比
营收规模更大
IMAX
是对方的1.7倍
$72.0M
营收增速更快
IMAX
高出17.5%
17.6%
净利率更高
IMAX
高出16.7%
-16.1%
两年增速更快
IMAX
近两年复合增速
12.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $72.0M | $125.2M |
| 净利润 | $-11.6M | $637.0K |
| 毛利率 | — | 57.6% |
| 营业利润率 | -0.5% | 19.3% |
| 净利率 | -16.1% | 0.5% |
| 营收同比 | 17.6% | 35.1% |
| 净利润同比 | 76.9% | -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GSATIMAX
| Q4 25 | $72.0M | $125.2M | ||
| Q3 25 | $73.8M | $106.7M | ||
| Q2 25 | $67.1M | $91.7M | ||
| Q1 25 | $60.0M | $86.7M | ||
| Q4 24 | $61.2M | $92.7M | ||
| Q3 24 | $72.3M | $91.5M | ||
| Q2 24 | $60.4M | $89.0M | ||
| Q1 24 | $56.5M | $79.1M |
净利润GSATIMAX
| Q4 25 | $-11.6M | $637.0K | ||
| Q3 25 | $1.1M | $20.7M | ||
| Q2 25 | $19.2M | $11.3M | ||
| Q1 25 | $-17.3M | $2.3M | ||
| Q4 24 | $-50.2M | $5.3M | ||
| Q3 24 | $9.9M | $13.9M | ||
| Q2 24 | $-9.7M | $3.6M | ||
| Q1 24 | $-13.2M | $3.3M |
毛利率GSATIMAX
| 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GSATIMAX
| Q4 25 | -0.5% | 19.3% | ||
| Q3 25 | 13.8% | 27.2% | ||
| Q2 25 | 9.2% | 15.6% | ||
| Q1 25 | -14.2% | 19.3% | ||
| Q4 24 | -6.9% | 10.3% | ||
| Q3 24 | 13.0% | 21.2% | ||
| Q2 24 | -2.4% | 3.2% | ||
| Q1 24 | -8.3% | 15.3% |
净利率GSATIMAX
| Q4 25 | -16.1% | 0.5% | ||
| Q3 25 | 1.5% | 19.4% | ||
| Q2 25 | 28.6% | 12.3% | ||
| Q1 25 | -28.9% | 2.7% | ||
| Q4 24 | -82.1% | 5.7% | ||
| Q3 24 | 13.7% | 15.2% | ||
| Q2 24 | -16.0% | 4.0% | ||
| Q1 24 | -23.4% | 4.1% |
每股收益（稀释后）GSATIMAX
| Q4 25 | $-0.11 | $0.02 | ||
| Q3 25 | $-0.01 | $0.37 | ||
| Q2 25 | $0.13 | $0.20 | ||
| Q1 25 | $-0.16 | $0.04 | ||
| Q4 24 | $-0.57 | $0.09 | ||
| Q3 24 | $0.00 | $0.26 | ||
| Q2 24 | $-0.01 | $0.07 | ||
| Q1 24 | $-0.01 | $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 | $447.5M | $151.2M |
| 总债务越低越好 | $483.8M | — |
| 股东权益账面价值 | $355.7M | $337.9M |
| 总资产 | $2.3B | $894.0M |
| 负债/权益比越低杠杆越低 | 1.36× | — |
8季度趋势，按日历期对齐
现金及短期投资GSATIMAX
| Q4 25 | $447.5M | $151.2M | ||
| Q3 25 | $346.3M | $143.1M | ||
| Q2 25 | $308.2M | $109.3M | ||
| Q1 25 | $241.4M | $97.1M | ||
| Q4 24 | $391.2M | $100.6M | ||
| Q3 24 | $51.9M | $104.5M | ||
| Q2 24 | $64.3M | $91.6M | ||
| Q1 24 | $59.3M | $81.0M |
总债务GSATIMAX
| Q4 25 | $483.8M | — | ||
| Q3 25 | $508.6M | — | ||
| Q2 25 | $491.5M | — | ||
| Q1 25 | $502.7M | — | ||
| Q4 24 | $511.4M | — | ||
| Q3 24 | $394.4M | — | ||
| Q2 24 | $393.1M | — | ||
| Q1 24 | $398.7M | — |
股东权益GSATIMAX
| Q4 25 | $355.7M | $337.9M | ||
| Q3 25 | $364.8M | $349.5M | ||
| Q2 25 | $360.9M | $320.4M | ||
| Q1 25 | $344.3M | $299.5M | ||
| Q4 24 | $358.9M | $299.5M | ||
| Q3 24 | $394.1M | $289.4M | ||
| Q2 24 | $383.0M | $267.2M | ||
| Q1 24 | $377.1M | $258.8M |
总资产GSATIMAX
| Q4 25 | $2.3B | $894.0M | ||
| Q3 25 | $2.2B | $889.6M | ||
| Q2 25 | $1.9B | $868.6M | ||
| Q1 25 | $1.7B | $848.3M | ||
| Q4 24 | $1.7B | $830.4M | ||
| Q3 24 | $917.6M | $847.6M | ||
| Q2 24 | $926.2M | $827.4M | ||
| Q1 24 | $917.0M | $824.1M |
负债/权益比GSATIMAX
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 1.46× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.03× | — | ||
| Q1 24 | 1.06× | — |
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 | $175.9M | $29.4M |
| 自由现金流经营现金流 - 资本支出 | — | $28.0M |
| 自由现金流率自由现金流/营收 | — | 22.3% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 现金转化率经营现金流/净利润 | — | 46.11× |
| 过去12个月自由现金流最近4个季度 | — | $118.9M |
8季度趋势，按日历期对齐
经营现金流GSATIMAX
| Q4 25 | $175.9M | $29.4M | ||
| Q3 25 | $236.0M | $67.5M | ||
| Q2 25 | $157.9M | $23.2M | ||
| Q1 25 | $51.9M | $7.0M | ||
| Q4 24 | $340.7M | $11.5M | ||
| Q3 24 | $32.0M | $35.3M | ||
| Q2 24 | $36.7M | $35.0M | ||
| Q1 24 | $29.8M | $-11.0M |
自由现金流GSATIMAX
| Q4 25 | — | $28.0M | ||
| Q3 25 | — | $64.8M | ||
| Q2 25 | — | $20.9M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $6.9M | ||
| Q3 24 | — | $34.2M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $-12.1M |
自由现金流率GSATIMAX
| Q4 25 | — | 22.3% | ||
| Q3 25 | — | 60.7% | ||
| Q2 25 | — | 22.8% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 7.4% | ||
| Q3 24 | — | 37.3% | ||
| Q2 24 | — | 37.6% | ||
| Q1 24 | — | -15.3% |
资本支出强度GSATIMAX
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 2.6% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.8% | ||
| Q1 24 | — | 1.4% |
现金转化率GSATIMAX
| Q4 25 | — | 46.11× | ||
| Q3 25 | 216.53× | 3.27× | ||
| Q2 25 | 8.22× | 2.06× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | 3.23× | 2.54× | ||
| Q2 24 | — | 9.78× | ||
| Q1 24 | — | -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
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
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% |
