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金德摩根（KMI）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
金德摩根的季度营收约是EchoStar CORP的1.3倍（$4.8B vs $3.8B），金德摩根净利率更高（20.7% vs -31.8%，领先52.5%），金德摩根同比增速更快（13.8% vs -4.3%），过去两年金德摩根的营收复合增速更高（22.6% vs -2.8%）
金德摩根是北美规模最大的能源基础设施企业之一，核心业务为油气管道、能源储运终端的持有与运营管理，服务网络覆盖北美主要油气产区及消费市场，为能源产业提供稳定可靠的基础设施配套服务。
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。
KMI vs SATS — 直观对比
营收规模更大
KMI
是对方的1.3倍
$3.8B
营收增速更快
KMI
高出18.1%
-4.3%
净利率更高
KMI
高出52.5%
-31.8%
两年增速更快
KMI
近两年复合增速
-2.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.8B | $3.8B |
| 净利润 | $1.0B | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | 29.9% | -20.5% |
| 净利率 | 20.7% | -31.8% |
| 营收同比 | 13.8% | -4.3% |
| 净利润同比 | 34.7% | -460.1% |
| 每股收益（稀释后） | $0.44 | $-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KMISATS
| Q1 26 | $4.8B | — | ||
| Q4 25 | $4.0B | $3.8B | ||
| Q3 25 | $3.7B | $3.6B | ||
| Q2 25 | $3.6B | $3.7B | ||
| Q1 25 | $3.9B | $3.9B | ||
| Q4 24 | $3.6B | $4.0B | ||
| Q3 24 | $3.3B | $3.9B | ||
| Q2 24 | $3.2B | $4.0B |
净利润KMISATS
| Q1 26 | $1.0B | — | ||
| Q4 25 | $996.0M | $-1.2B | ||
| Q3 25 | $628.0M | $-12.8B | ||
| Q2 25 | $715.0M | $-306.1M | ||
| Q1 25 | $717.0M | $-202.7M | ||
| Q4 24 | $667.0M | $335.2M | ||
| Q3 24 | $625.0M | $-141.8M | ||
| Q2 24 | $575.0M | $-205.6M |
营业利润率KMISATS
| Q1 26 | 29.9% | — | ||
| Q4 25 | 34.0% | -20.5% | ||
| Q3 25 | 28.6% | -460.5% | ||
| Q2 25 | 31.9% | -5.7% | ||
| Q1 25 | 29.6% | -2.3% | ||
| Q4 24 | 31.0% | -1.6% | ||
| Q3 24 | 30.9% | -4.1% | ||
| Q2 24 | 32.3% | -1.7% |
净利率KMISATS
| Q1 26 | 20.7% | — | ||
| Q4 25 | 24.8% | -31.8% | ||
| Q3 25 | 16.9% | -353.6% | ||
| Q2 25 | 19.8% | -8.2% | ||
| Q1 25 | 18.6% | -5.2% | ||
| Q4 24 | 18.7% | 8.5% | ||
| Q3 24 | 19.0% | -3.6% | ||
| Q2 24 | 17.9% | -5.2% |
每股收益（稀释后）KMISATS
| Q1 26 | $0.44 | — | ||
| Q4 25 | $0.45 | $-4.27 | ||
| Q3 25 | $0.28 | $-44.37 | ||
| Q2 25 | $0.32 | $-1.06 | ||
| Q1 25 | $0.32 | $-0.71 | ||
| Q4 24 | $0.30 | $1.24 | ||
| Q3 24 | $0.28 | $-0.52 | ||
| Q2 24 | $0.26 | $-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 | $72.0M | $3.0B |
| 总债务越低越好 | $31.9B | $18.7B |
| 股东权益账面价值 | $32.6B | $5.8B |
| 总资产 | $73.1B | $43.0B |
| 负债/权益比越低杠杆越低 | 0.98× | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资KMISATS
| Q1 26 | $72.0M | — | ||
| Q4 25 | $63.0M | $3.0B | ||
| Q3 25 | $71.0M | $3.9B | ||
| Q2 25 | $82.0M | $4.3B | ||
| Q1 25 | $80.0M | $5.1B | ||
| Q4 24 | $88.0M | $5.5B | ||
| Q3 24 | $108.0M | $674.4M | ||
| Q2 24 | $98.0M | $520.6M |
总债务KMISATS
| Q1 26 | $31.9B | — | ||
| Q4 25 | — | $18.7B | ||
| Q3 25 | — | $21.8B | ||
| Q2 25 | — | $25.4B | ||
| Q1 25 | — | $25.3B | ||
| Q4 24 | — | $25.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益KMISATS
| Q1 26 | $32.6B | — | ||
| Q4 25 | $31.2B | $5.8B | ||
| Q3 25 | $30.7B | $7.0B | ||
| Q2 25 | $30.8B | $19.7B | ||
| Q1 25 | $30.6B | $20.0B | ||
| Q4 24 | $30.5B | $20.2B | ||
| Q3 24 | $30.4B | $19.4B | ||
| Q2 24 | $30.3B | $19.6B |
总资产KMISATS
| Q1 26 | $73.1B | — | ||
| Q4 25 | $72.7B | $43.0B | ||
| Q3 25 | $72.3B | $45.3B | ||
| Q2 25 | $72.4B | $59.9B | ||
| Q1 25 | $72.3B | $60.6B | ||
| Q4 24 | $71.4B | $60.9B | ||
| Q3 24 | $70.9B | $57.5B | ||
| Q2 24 | $70.7B | $55.3B |
负债/权益比KMISATS
| Q1 26 | 0.98× | — | ||
| 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 | 16.7% | 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KMISATS
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $-425.3M | ||
| Q3 25 | $1.4B | $111.7M | ||
| Q2 25 | $1.6B | $7.5M | ||
| Q1 25 | $1.2B | $206.8M | ||
| Q4 24 | $1.5B | $45.6M | ||
| Q3 24 | $1.2B | $276.2M | ||
| Q2 24 | $1.7B | $479.7M |
自由现金流KMISATS
| Q1 26 | — | — | ||
| Q4 25 | $872.0M | $-583.4M | ||
| Q3 25 | $621.0M | $-144.4M | ||
| Q2 25 | $1.0B | $-285.7M | ||
| Q1 25 | $396.0M | $-51.7M | ||
| Q4 24 | $738.0M | $-298.7M | ||
| Q3 24 | $592.0M | $-57.5M | ||
| Q2 24 | $1.1B | $132.4M |
自由现金流率KMISATS
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | -15.4% | ||
| Q3 25 | 16.7% | -4.0% | ||
| Q2 25 | 27.8% | -7.7% | ||
| Q1 25 | 10.3% | -1.3% | ||
| Q4 24 | 20.7% | -7.5% | ||
| Q3 24 | 18.0% | -1.5% | ||
| Q2 24 | 34.4% | 3.3% |
资本支出强度KMISATS
| Q1 26 | 16.7% | — | ||
| Q4 25 | 20.4% | 4.2% | ||
| Q3 25 | 21.3% | 7.1% | ||
| Q2 25 | 17.9% | 7.9% | ||
| Q1 25 | 19.8% | 6.7% | ||
| Q4 24 | 21.6% | 8.7% | ||
| Q3 24 | 20.0% | 8.6% | ||
| Q2 24 | 18.1% | 8.8% |
现金转化率KMISATS
| Q1 26 | — | — | ||
| Q4 25 | 1.70× | — | ||
| Q3 25 | 2.25× | — | ||
| Q2 25 | 2.31× | — | ||
| Q1 25 | 1.62× | — | ||
| Q4 24 | 2.26× | 0.14× | ||
| Q3 24 | 2.00× | — | ||
| Q2 24 | 2.93× | — |
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
KMI
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% |
