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Liberty Broadband Corp（LBRDA）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
Madison Square Garden Entertainment Corp.的季度营收约是Liberty Broadband Corp的1.6倍（$424.8M vs $261.0M），Liberty Broadband Corp净利率更高（146.7% vs 21.8%，领先124.9%），Madison Square Garden Entertainment Corp.同比增速更快（12.5% vs 6.1%），过去两年Madison Square Garden Entertainment Corp.的营收复合增速更高（48.9% vs 4.3%）
本公司是一家覆盖英、荷、美三地的跨国电信企业，注册地为百慕大，在伦敦、阿姆斯特丹、丹佛设有总部，旗下拥有多家对应司法辖区的运营主体，其中英国主体为公开上市实体，2005年由自由媒体国际业务板块与UnitedGlobalCom合并成立。
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。
LBRDA vs MSGE — 直观对比
营收规模更大
MSGE
是对方的1.6倍
$261.0M
营收增速更快
MSGE
高出6.4%
6.1%
净利率更高
LBRDA
高出124.9%
21.8%
两年增速更快
MSGE
近两年复合增速
4.3%
损益表 — Q2 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $261.0M | $424.8M |
| 净利润 | $383.0M | $92.7M |
| 毛利率 | — | — |
| 营业利润率 | 15.7% | 38.6% |
| 净利率 | 146.7% | 21.8% |
| 营收同比 | 6.1% | 12.5% |
| 净利润同比 | 96.4% | 22.2% |
| 每股收益（稀释后） | $2.68 | $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LBRDAMSGE
| Q4 25 | — | $424.8M | ||
| Q3 25 | — | $154.1M | ||
| Q2 25 | $261.0M | $145.1M | ||
| Q1 25 | $266.0M | $206.0M | ||
| Q4 24 | $263.0M | $377.6M | ||
| Q3 24 | $262.0M | $134.1M | ||
| Q2 24 | $246.0M | $177.6M | ||
| Q1 24 | $245.0M | $191.6M |
净利润LBRDAMSGE
| Q4 25 | — | $92.7M | ||
| Q3 25 | — | $-21.7M | ||
| Q2 25 | $383.0M | $-27.2M | ||
| Q1 25 | $268.0M | $8.0M | ||
| Q4 24 | $291.0M | $75.9M | ||
| Q3 24 | $142.0M | $-19.3M | ||
| Q2 24 | $195.0M | $66.9M | ||
| Q1 24 | $241.0M | $2.8M |
营业利润率LBRDAMSGE
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | -19.3% | ||
| Q2 25 | 15.7% | -17.7% | ||
| Q1 25 | 16.2% | 13.3% | ||
| Q4 24 | 4.9% | 36.8% | ||
| Q3 24 | 11.5% | -13.8% | ||
| Q2 24 | 8.5% | -5.0% | ||
| Q1 24 | 11.4% | 8.8% |
净利率LBRDAMSGE
| Q4 25 | — | 21.8% | ||
| Q3 25 | — | -14.0% | ||
| Q2 25 | 146.7% | -18.7% | ||
| Q1 25 | 100.8% | 3.9% | ||
| Q4 24 | 110.6% | 20.1% | ||
| Q3 24 | 54.2% | -14.4% | ||
| Q2 24 | 79.3% | 37.7% | ||
| Q1 24 | 98.4% | 1.5% |
每股收益（稀释后）LBRDAMSGE
| Q4 25 | — | $1.94 | ||
| Q3 25 | — | $-0.46 | ||
| Q2 25 | $2.68 | $-0.56 | ||
| Q1 25 | $1.87 | $0.17 | ||
| Q4 24 | $2.04 | $1.56 | ||
| Q3 24 | $0.99 | $-0.40 | ||
| Q2 24 | $1.36 | $1.32 | ||
| Q1 24 | $1.69 | $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 | $180.0M | $157.1M |
| 总债务越低越好 | $3.1B | $554.6M |
| 股东权益账面价值 | $10.4B | $36.0M |
| 总资产 | $16.6B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.30× | 15.40× |
8季度趋势，按日历期对齐
现金及短期投资LBRDAMSGE
| Q4 25 | — | $157.1M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | $180.0M | $43.0M | ||
| Q1 25 | $226.0M | $89.0M | ||
| Q4 24 | $163.0M | $54.9M | ||
| Q3 24 | $168.0M | $37.3M | ||
| Q2 24 | $73.0M | $33.3M | ||
| Q1 24 | $108.0M | $28.0M |
总债务LBRDAMSGE
| Q4 25 | — | $554.6M | ||
| Q3 25 | — | $581.7M | ||
| Q2 25 | $3.1B | $568.8M | ||
| Q1 25 | $3.8B | $577.4M | ||
| Q4 24 | $3.8B | $584.7M | ||
| Q3 24 | $3.7B | $647.0M | ||
| Q2 24 | $3.6B | $599.2M | ||
| Q1 24 | $3.6B | $602.5M |
股东权益LBRDAMSGE
| Q4 25 | — | $36.0M | ||
| Q3 25 | — | $-65.8M | ||
| Q2 25 | $10.4B | $-13.3M | ||
| Q1 25 | $10.1B | $9.5M | ||
| Q4 24 | $9.8B | $10.3M | ||
| Q3 24 | $9.5B | $-48.7M | ||
| Q2 24 | $9.3B | $-23.2M | ||
| Q1 24 | $9.1B | $-94.6M |
总资产LBRDAMSGE
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | $16.6B | $1.7B | ||
| Q1 25 | $17.0B | $1.7B | ||
| Q4 24 | $16.7B | $1.6B | ||
| Q3 24 | $16.3B | $1.6B | ||
| Q2 24 | $16.0B | $1.6B | ||
| Q1 24 | $15.7B | $1.5B |
负债/权益比LBRDAMSGE
| Q4 25 | — | 15.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | 0.38× | 60.61× | ||
| Q4 24 | 0.38× | 56.61× | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 0.39× | — | ||
| Q1 24 | 0.40× | — |
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 | $91.0M | $164.4M |
| 自由现金流经营现金流 - 资本支出 | $37.0M | — |
| 自由现金流率自由现金流/营收 | 14.2% | — |
| 资本支出强度资本支出/营收 | 20.7% | — |
| 现金转化率经营现金流/净利润 | 0.24× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $-49.0M | — |
8季度趋势，按日历期对齐
经营现金流LBRDAMSGE
| Q4 25 | — | $164.4M | ||
| Q3 25 | — | $19.8M | ||
| Q2 25 | $91.0M | $-27.0M | ||
| Q1 25 | $78.0M | $56.8M | ||
| Q4 24 | $1.0M | $112.9M | ||
| Q3 24 | $24.0M | $-27.4M | ||
| Q2 24 | $27.0M | $212.0K | ||
| Q1 24 | $52.0M | $5.8M |
自由现金流LBRDAMSGE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $37.0M | — | ||
| Q1 25 | $13.0M | — | ||
| Q4 24 | $-63.0M | — | ||
| Q3 24 | $-36.0M | — | ||
| Q2 24 | $-35.0M | — | ||
| Q1 24 | $-9.0M | — |
自由现金流率LBRDAMSGE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 14.2% | — | ||
| Q1 25 | 4.9% | — | ||
| Q4 24 | -24.0% | — | ||
| Q3 24 | -13.7% | — | ||
| Q2 24 | -14.2% | — | ||
| Q1 24 | -3.7% | — |
资本支出强度LBRDAMSGE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 20.7% | — | ||
| Q1 25 | 24.4% | — | ||
| Q4 24 | 24.3% | — | ||
| Q3 24 | 22.9% | — | ||
| Q2 24 | 25.2% | — | ||
| Q1 24 | 24.9% | — |
现金转化率LBRDAMSGE
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.24× | — | ||
| Q1 25 | 0.29× | 7.07× | ||
| Q4 24 | 0.00× | 1.49× | ||
| Q3 24 | 0.17× | — | ||
| Q2 24 | 0.14× | 0.00× | ||
| Q1 24 | 0.22× | 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
LBRDA
暂无分部数据
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% |
