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希尔顿（HLT）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
EchoStar CORP的季度营收约是希尔顿的1.3倍（$3.8B vs $2.9B），希尔顿净利率更高（13.0% vs -31.8%，领先44.8%），希尔顿同比增速更快（9.0% vs -4.3%），过去两年希尔顿的营收复合增速更高（-0.2% vs -2.8%）
希尔顿全球控股是美国跨国酒店管理集团，管理并特许经营涵盖酒店、度假村、分时度假物业在内的多元品牌矩阵。集团由康拉德·希尔顿于1919年5月创立，现任首席执行官为克里斯托弗·J·纳塞塔，总部位于美国弗吉尼亚州泰森斯。
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。
HLT vs SATS — 直观对比
营收规模更大
SATS
是对方的1.3倍
$2.9B
营收增速更快
HLT
高出13.3%
-4.3%
净利率更高
HLT
高出44.8%
-31.8%
两年增速更快
HLT
近两年复合增速
-2.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $3.8B |
| 净利润 | $383.0M | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | 23.1% | -20.5% |
| 净利率 | 13.0% | -31.8% |
| 营收同比 | 9.0% | -4.3% |
| 净利润同比 | 27.7% | -460.1% |
| 每股收益（稀释后） | $1.66 | $-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HLTSATS
| Q1 26 | $2.9B | — | ||
| Q4 25 | $3.1B | $3.8B | ||
| Q3 25 | $3.1B | $3.6B | ||
| Q2 25 | $3.1B | $3.7B | ||
| Q1 25 | $2.7B | $3.9B | ||
| Q4 24 | $2.8B | $4.0B | ||
| Q3 24 | $2.9B | $3.9B | ||
| Q2 24 | $3.0B | $4.0B |
净利润HLTSATS
| Q1 26 | $383.0M | — | ||
| Q4 25 | $297.0M | $-1.2B | ||
| Q3 25 | $420.0M | $-12.8B | ||
| Q2 25 | $440.0M | $-306.1M | ||
| Q1 25 | $300.0M | $-202.7M | ||
| Q4 24 | $505.0M | $335.2M | ||
| Q3 24 | $344.0M | $-141.8M | ||
| Q2 24 | $421.0M | $-205.6M |
营业利润率HLTSATS
| Q1 26 | 23.1% | — | ||
| Q4 25 | 19.5% | -20.5% | ||
| Q3 25 | 24.9% | -460.5% | ||
| Q2 25 | 24.8% | -5.7% | ||
| Q1 25 | 19.9% | -2.3% | ||
| Q4 24 | 17.6% | -1.6% | ||
| Q3 24 | 21.7% | -4.1% | ||
| Q2 24 | 24.6% | -1.7% |
净利率HLTSATS
| Q1 26 | 13.0% | — | ||
| Q4 25 | 9.6% | -31.8% | ||
| Q3 25 | 13.5% | -353.6% | ||
| Q2 25 | 14.0% | -8.2% | ||
| Q1 25 | 11.1% | -5.2% | ||
| Q4 24 | 18.1% | 8.5% | ||
| Q3 24 | 12.0% | -3.6% | ||
| Q2 24 | 14.3% | -5.2% |
每股收益（稀释后）HLTSATS
| Q1 26 | $1.66 | — | ||
| Q4 25 | $1.27 | $-4.27 | ||
| Q3 25 | $1.78 | $-44.37 | ||
| Q2 25 | $1.84 | $-1.06 | ||
| Q1 25 | $1.23 | $-0.71 | ||
| Q4 24 | $2.05 | $1.24 | ||
| Q3 24 | $1.38 | $-0.52 | ||
| Q2 24 | $1.67 | $-0.76 |
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 | $12.4M | $18.7B |
| 股东权益账面价值 | — | $5.8B |
| 总资产 | — | $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HLTSATS
| Q1 26 | — | — | ||
| Q4 25 | $918.0M | $3.0B | ||
| Q3 25 | $1.1B | $3.9B | ||
| Q2 25 | $371.0M | $4.3B | ||
| Q1 25 | $731.0M | $5.1B | ||
| Q4 24 | $1.3B | $5.5B | ||
| Q3 24 | $1.6B | $674.4M | ||
| Q2 24 | $731.0M | $520.6M |
总债务HLTSATS
| Q1 26 | $12.4M | — | ||
| Q4 25 | $12.3B | $18.7B | ||
| Q3 25 | $11.6B | $21.8B | ||
| Q2 25 | $10.9B | $25.4B | ||
| Q1 25 | $10.6B | $25.3B | ||
| Q4 24 | $10.6B | $25.7B | ||
| Q3 24 | $10.6B | — | ||
| Q2 24 | $9.6B | — |
股东权益HLTSATS
| Q1 26 | — | — | ||
| Q4 25 | $-5.4B | $5.8B | ||
| Q3 25 | $-4.9B | $7.0B | ||
| Q2 25 | $-4.6B | $19.7B | ||
| Q1 25 | $-4.4B | $20.0B | ||
| Q4 24 | $-3.7B | $20.2B | ||
| Q3 24 | $-3.5B | $19.4B | ||
| Q2 24 | $-3.1B | $19.6B |
总资产HLTSATS
| Q1 26 | — | — | ||
| Q4 25 | $16.8B | $43.0B | ||
| Q3 25 | $16.6B | $45.3B | ||
| Q2 25 | $15.9B | $59.9B | ||
| Q1 25 | $16.0B | $60.6B | ||
| Q4 24 | $16.5B | $60.9B | ||
| Q3 24 | $16.7B | $57.5B | ||
| Q2 24 | $15.7B | $55.3B |
负债/权益比HLTSATS
| Q1 26 | — | — | ||
| Q4 25 | — | 3.24× | ||
| Q3 25 | — | 3.13× | ||
| Q2 25 | — | 1.29× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | — | $-583.4M |
| 自由现金流率自由现金流/营收 | — | -15.4% |
| 资本支出强度资本支出/营收 | 0.3% | 4.2% |
| 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 | — | $-1.1B |
8季度趋势，按日历期对齐
经营现金流HLTSATS
| Q1 26 | — | — | ||
| Q4 25 | $203.0M | $-425.3M | ||
| Q3 25 | $816.0M | $111.7M | ||
| Q2 25 | $658.0M | $7.5M | ||
| Q1 25 | $452.0M | $206.8M | ||
| Q4 24 | $582.0M | $45.6M | ||
| Q3 24 | $664.0M | $276.2M | ||
| Q2 24 | $421.0M | $479.7M |
自由现金流HLTSATS
| Q1 26 | — | — | ||
| Q4 25 | $173.0M | $-583.4M | ||
| Q3 25 | $787.0M | $-144.4M | ||
| Q2 25 | $635.0M | $-285.7M | ||
| Q1 25 | $433.0M | $-51.7M | ||
| Q4 24 | $534.0M | $-298.7M | ||
| Q3 24 | $647.0M | $-57.5M | ||
| Q2 24 | $406.0M | $132.4M |
自由现金流率HLTSATS
| Q1 26 | — | — | ||
| Q4 25 | 5.6% | -15.4% | ||
| Q3 25 | 25.2% | -4.0% | ||
| Q2 25 | 20.2% | -7.7% | ||
| Q1 25 | 16.1% | -1.3% | ||
| Q4 24 | 19.2% | -7.5% | ||
| Q3 24 | 22.6% | -1.5% | ||
| Q2 24 | 13.8% | 3.3% |
资本支出强度HLTSATS
| Q1 26 | 0.3% | — | ||
| Q4 25 | 1.0% | 4.2% | ||
| Q3 25 | 0.9% | 7.1% | ||
| Q2 25 | 0.7% | 7.9% | ||
| Q1 25 | 0.7% | 6.7% | ||
| Q4 24 | 1.7% | 8.7% | ||
| Q3 24 | 0.6% | 8.6% | ||
| Q2 24 | 0.5% | 8.8% |
现金转化率HLTSATS
| Q1 26 | — | — | ||
| Q4 25 | 0.68× | — | ||
| Q3 25 | 1.94× | — | ||
| Q2 25 | 1.50× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 1.15× | 0.14× | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 1.00× | — |
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
HLT
暂无分部数据
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% |
