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Loews Corporation（L）与Madison Square Garden Entertainment Corp.（MSGE）财务数据对比。点击上方公司名可切换其他公司
Loews Corporation的季度营收约是Madison Square Garden Entertainment Corp.的1.9倍（$827.0M vs $424.8M），Loews Corporation净利率更高（48.6% vs 21.8%，领先26.8%），Madison Square Garden Entertainment Corp.同比增速更快（12.5% vs 4.8%），过去两年Madison Square Garden Entertainment Corp.的营收复合增速更高（48.9% vs 7.9%）
Loews Corporation是一家总部位于美国的多元化综合企业集团，旗下子公司业务覆盖财产保险、天然气管道运输、酒店运营、油气勘探生产等核心领域，主要服务北美市场的商业、消费者及工业客户。
麦迪逊广场花园娱乐公司是总部位于美国纽约的体育控股企业，依托麦迪逊广场花园的核心资源，在体育赛事运营、体育IP管理及相关商业化领域拥有深厚行业积累与广泛影响力。
L vs MSGE — 直观对比
营收规模更大
L
是对方的1.9倍
$424.8M
营收增速更快
MSGE
高出7.7%
4.8%
净利率更高
L
高出26.8%
21.8%
两年增速更快
MSGE
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $827.0M | $424.8M |
| 净利润 | $402.0M | $92.7M |
| 毛利率 | — | — |
| 营业利润率 | 65.4% | 38.6% |
| 净利率 | 48.6% | 21.8% |
| 营收同比 | 4.8% | 12.5% |
| 净利润同比 | 115.0% | 22.2% |
| 每股收益（稀释后） | $1.93 | $1.94 |
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LMSGE
| Q4 25 | $827.0M | $424.8M | ||
| Q3 25 | $732.0M | $154.1M | ||
| Q2 25 | $769.0M | $145.1M | ||
| Q1 25 | $846.0M | $206.0M | ||
| Q4 24 | $789.0M | $377.6M | ||
| Q3 24 | $683.0M | $134.1M | ||
| Q2 24 | $711.0M | $177.6M | ||
| Q1 24 | $710.0M | $191.6M |
净利润LMSGE
| Q4 25 | $402.0M | $92.7M | ||
| Q3 25 | $504.0M | $-21.7M | ||
| Q2 25 | $391.0M | $-27.2M | ||
| Q1 25 | $370.0M | $8.0M | ||
| Q4 24 | $187.0M | $75.9M | ||
| Q3 24 | $401.0M | $-19.3M | ||
| Q2 24 | $369.0M | $66.9M | ||
| Q1 24 | $457.0M | $2.8M |
营业利润率LMSGE
| Q4 25 | 65.4% | 38.6% | ||
| Q3 25 | 94.1% | -19.3% | ||
| Q2 25 | 70.1% | -17.7% | ||
| Q1 25 | 60.8% | 13.3% | ||
| Q4 24 | 23.8% | 36.8% | ||
| Q3 24 | 80.5% | -13.8% | ||
| Q2 24 | 71.3% | -5.0% | ||
| Q1 24 | 88.6% | 8.8% |
净利率LMSGE
| Q4 25 | 48.6% | 21.8% | ||
| Q3 25 | 68.9% | -14.0% | ||
| Q2 25 | 50.8% | -18.7% | ||
| Q1 25 | 43.7% | 3.9% | ||
| Q4 24 | 23.7% | 20.1% | ||
| Q3 24 | 58.7% | -14.4% | ||
| Q2 24 | 51.9% | 37.7% | ||
| Q1 24 | 64.4% | 1.5% |
每股收益（稀释后）LMSGE
| Q4 25 | $1.93 | $1.94 | ||
| Q3 25 | $2.43 | $-0.46 | ||
| Q2 25 | $1.87 | $-0.56 | ||
| Q1 25 | $1.74 | $0.17 | ||
| Q4 24 | $0.87 | $1.56 | ||
| Q3 24 | $1.82 | $-0.40 | ||
| Q2 24 | $1.67 | $1.32 | ||
| Q1 24 | $2.05 | $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 | $6.0B | $157.1M |
| 总债务越低越好 | $8.4B | $554.6M |
| 股东权益账面价值 | $18.7B | $36.0M |
| 总资产 | $86.3B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.45× | 15.40× |
8季度趋势，按日历期对齐
现金及短期投资LMSGE
| Q4 25 | $6.0B | $157.1M | ||
| Q3 25 | $5.4B | $29.9M | ||
| Q2 25 | $4.5B | $43.0M | ||
| Q1 25 | $4.4B | $89.0M | ||
| Q4 24 | $4.6B | $54.9M | ||
| Q3 24 | $5.2B | $37.3M | ||
| Q2 24 | $4.9B | $33.3M | ||
| Q1 24 | $5.4B | $28.0M |
总债务LMSGE
| Q4 25 | $8.4B | $554.6M | ||
| Q3 25 | $8.4B | $581.7M | ||
| Q2 25 | $7.9B | $568.8M | ||
| Q1 25 | $8.4B | $577.4M | ||
| Q4 24 | $8.9B | $584.7M | ||
| Q3 24 | $8.8B | $647.0M | ||
| Q2 24 | $8.6B | $599.2M | ||
| Q1 24 | $8.4B | $602.5M |
股东权益LMSGE
| Q4 25 | $18.7B | $36.0M | ||
| Q3 25 | $18.3B | $-65.8M | ||
| Q2 25 | $17.5B | $-13.3M | ||
| Q1 25 | $17.2B | $9.5M | ||
| Q4 24 | $17.1B | $10.3M | ||
| Q3 24 | $17.4B | $-48.7M | ||
| Q2 24 | $16.4B | $-23.2M | ||
| Q1 24 | $16.2B | $-94.6M |
总资产LMSGE
| Q4 25 | $86.3B | $1.8B | ||
| Q3 25 | $85.9B | $1.7B | ||
| Q2 25 | $84.7B | $1.7B | ||
| Q1 25 | $83.1B | $1.7B | ||
| Q4 24 | $81.9B | $1.6B | ||
| Q3 24 | $83.6B | $1.6B | ||
| Q2 24 | $81.1B | $1.6B | ||
| Q1 24 | $80.9B | $1.5B |
负债/权益比LMSGE
| Q4 25 | 0.45× | 15.40× | ||
| Q3 25 | 0.46× | — | ||
| Q2 25 | 0.45× | — | ||
| Q1 25 | 0.49× | 60.61× | ||
| Q4 24 | 0.52× | 56.61× | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.52× | — | ||
| Q1 24 | 0.52× | — |
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 | $617.0M | $164.4M |
| 自由现金流经营现金流 - 资本支出 | $426.0M | — |
| 自由现金流率自由现金流/营收 | 51.5% | — |
| 资本支出强度资本支出/营收 | 23.1% | — |
| 现金转化率经营现金流/净利润 | 1.53× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $2.7B | — |
8季度趋势，按日历期对齐
经营现金流LMSGE
| Q4 25 | $617.0M | $164.4M | ||
| Q3 25 | $920.0M | $19.8M | ||
| Q2 25 | $1.0B | $-27.0M | ||
| Q1 25 | $736.0M | $56.8M | ||
| Q4 24 | $941.0M | $112.9M | ||
| Q3 24 | $934.0M | $-27.4M | ||
| Q2 24 | $952.0M | $212.0K | ||
| Q1 24 | $198.0M | $5.8M |
自由现金流LMSGE
| Q4 25 | $426.0M | — | ||
| Q3 25 | $764.0M | — | ||
| Q2 25 | $872.0M | — | ||
| Q1 25 | $638.0M | — | ||
| Q4 24 | $767.0M | — | ||
| Q3 24 | $794.0M | — | ||
| Q2 24 | $793.0M | — | ||
| Q1 24 | $39.0M | — |
自由现金流率LMSGE
| Q4 25 | 51.5% | — | ||
| Q3 25 | 104.4% | — | ||
| Q2 25 | 113.4% | — | ||
| Q1 25 | 75.4% | — | ||
| Q4 24 | 97.2% | — | ||
| Q3 24 | 116.3% | — | ||
| Q2 24 | 111.5% | — | ||
| Q1 24 | 5.5% | — |
资本支出强度LMSGE
| Q4 25 | 23.1% | — | ||
| Q3 25 | 21.3% | — | ||
| Q2 25 | 17.4% | — | ||
| Q1 25 | 11.6% | — | ||
| Q4 24 | 22.1% | — | ||
| Q3 24 | 20.5% | — | ||
| Q2 24 | 22.4% | — | ||
| Q1 24 | 22.4% | — |
现金转化率LMSGE
| Q4 25 | 1.53× | 1.77× | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | 2.57× | — | ||
| Q1 25 | 1.99× | 7.07× | ||
| Q4 24 | 5.03× | 1.49× | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 2.58× | 0.00× | ||
| Q1 24 | 0.43× | 2.08× |
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
L
| Transportation And Storage Of Natural Gas And NG Ls And Ethane Supply And Transportation Services | $601.0M | 73% |
| Lodging And Related Services | $226.0M | 27% |
MSGE
| Ticketing And Venue License Fee Revenues | $263.5M | 62% |
| Food Beverage And Merchandise Revenues | $64.3M | 15% |
| Related Party | $43.9M | 10% |
| Arena Licensing Fees And Other Leasing Revenue | $35.2M | 8% |
| Other | $15.9M | 4% |
