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Masco（MAS）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Masco的2.0倍（$3.8B vs $1.9B），Masco净利率更高（11.9% vs -31.8%，领先43.7%），Masco同比增速更快（6.5% vs -4.3%），过去两年EchoStar CORP的营收复合增速更高（-2.8% vs -4.2%）
美国家居建材企业Masco主营家装及新建住宅市场相关产品，旗下拥有20余家子公司，在全球运营近80座生产工厂，其中美国本土近60座，海外地区超20座。公司1969年于纽交所挂牌上市，后实现快速增长，成功跻身美国财富500强榜单。
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。
MAS vs SATS — 直观对比
营收规模更大
SATS
是对方的2.0倍
$1.9B
营收增速更快
MAS
高出10.8%
-4.3%
净利率更高
MAS
高出43.7%
-31.8%
两年增速更快
SATS
近两年复合增速
-4.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $3.8B |
| 净利润 | $228.0M | $-1.2B |
| 毛利率 | 35.8% | — |
| 营业利润率 | 16.5% | -20.5% |
| 净利率 | 11.9% | -31.8% |
| 营收同比 | 6.5% | -4.3% |
| 净利润同比 | 14.5% | -460.1% |
| 每股收益（稀释后） | — | $-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MASSATS
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.8B | $3.8B | ||
| Q3 25 | $1.9B | $3.6B | ||
| Q2 25 | $2.1B | $3.7B | ||
| Q1 25 | $1.8B | $3.9B | ||
| Q4 24 | $1.8B | $4.0B | ||
| Q3 24 | $2.0B | $3.9B | ||
| Q2 24 | $2.1B | $4.0B |
净利润MASSATS
| Q1 26 | $228.0M | — | ||
| Q4 25 | $165.0M | $-1.2B | ||
| Q3 25 | $189.0M | $-12.8B | ||
| Q2 25 | $270.0M | $-306.1M | ||
| Q1 25 | $186.0M | $-202.7M | ||
| Q4 24 | $182.0M | $335.2M | ||
| Q3 24 | $167.0M | $-141.8M | ||
| Q2 24 | $258.0M | $-205.6M |
毛利率MASSATS
| Q1 26 | 35.8% | — | ||
| Q4 25 | 33.9% | — | ||
| Q3 25 | 34.2% | — | ||
| Q2 25 | 37.6% | — | ||
| Q1 25 | 35.8% | — | ||
| Q4 24 | 34.8% | — | ||
| Q3 24 | 36.6% | — | ||
| Q2 24 | 37.5% | — |
营业利润率MASSATS
| Q1 26 | 16.5% | — | ||
| Q4 25 | 13.8% | -20.5% | ||
| Q3 25 | 15.8% | -460.5% | ||
| Q2 25 | 20.1% | -5.7% | ||
| Q1 25 | 15.9% | -2.3% | ||
| Q4 24 | 15.9% | -1.6% | ||
| Q3 24 | 18.0% | -4.1% | ||
| Q2 24 | 19.0% | -1.7% |
净利率MASSATS
| Q1 26 | 11.9% | — | ||
| Q4 25 | 9.2% | -31.8% | ||
| Q3 25 | 9.9% | -353.6% | ||
| Q2 25 | 13.2% | -8.2% | ||
| Q1 25 | 10.3% | -5.2% | ||
| Q4 24 | 10.0% | 8.5% | ||
| Q3 24 | 8.4% | -3.6% | ||
| Q2 24 | 12.3% | -5.2% |
每股收益（稀释后）MASSATS
| Q1 26 | — | — | ||
| Q4 25 | $0.81 | $-4.27 | ||
| Q3 25 | $0.90 | $-44.37 | ||
| Q2 25 | $1.28 | $-1.06 | ||
| Q1 25 | $0.87 | $-0.71 | ||
| Q4 24 | $0.85 | $1.24 | ||
| Q3 24 | $0.77 | $-0.52 | ||
| Q2 24 | $1.17 | $-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 | $2.9B | $18.7B |
| 股东权益账面价值 | $27.0M | $5.8B |
| 总资产 | $5.2B | $43.0B |
| 负债/权益比越低杠杆越低 | 109.07× | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资MASSATS
| Q1 26 | — | — | ||
| Q4 25 | $647.0M | $3.0B | ||
| Q3 25 | $559.0M | $3.9B | ||
| Q2 25 | $390.0M | $4.3B | ||
| Q1 25 | $377.0M | $5.1B | ||
| Q4 24 | $634.0M | $5.5B | ||
| Q3 24 | $646.0M | $674.4M | ||
| Q2 24 | $398.0M | $520.6M |
总债务MASSATS
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $18.7B | ||
| Q3 25 | — | $21.8B | ||
| Q2 25 | — | $25.4B | ||
| Q1 25 | — | $25.3B | ||
| Q4 24 | $2.9B | $25.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益MASSATS
| Q1 26 | $27.0M | — | ||
| Q4 25 | $-185.0M | $5.8B | ||
| Q3 25 | $-78.0M | $7.0B | ||
| Q2 25 | $-84.0M | $19.7B | ||
| Q1 25 | $-254.0M | $20.0B | ||
| Q4 24 | $-279.0M | $20.2B | ||
| Q3 24 | $-88.0M | $19.4B | ||
| Q2 24 | $-26.0M | $19.6B |
总资产MASSATS
| Q1 26 | $5.2B | — | ||
| Q4 25 | $5.2B | $43.0B | ||
| Q3 25 | $5.3B | $45.3B | ||
| Q2 25 | $5.3B | $59.9B | ||
| Q1 25 | $5.1B | $60.6B | ||
| Q4 24 | $5.0B | $60.9B | ||
| Q3 24 | $5.3B | $57.5B | ||
| Q2 24 | $5.4B | $55.3B |
负债/权益比MASSATS
| Q1 26 | 109.07× | — | ||
| 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 | 1.8% | 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MASSATS
| Q1 26 | — | — | ||
| Q4 25 | $418.0M | $-425.3M | ||
| Q3 25 | $456.0M | $111.7M | ||
| Q2 25 | $306.0M | $7.5M | ||
| Q1 25 | $-158.0M | $206.8M | ||
| Q4 24 | $407.0M | $45.6M | ||
| Q3 24 | $416.0M | $276.2M | ||
| Q2 24 | $346.0M | $479.7M |
自由现金流MASSATS
| Q1 26 | — | — | ||
| Q4 25 | $371.0M | $-583.4M | ||
| Q3 25 | $415.0M | $-144.4M | ||
| Q2 25 | $270.0M | $-285.7M | ||
| Q1 25 | $-190.0M | $-51.7M | ||
| Q4 24 | $351.0M | $-298.7M | ||
| Q3 24 | $378.0M | $-57.5M | ||
| Q2 24 | $303.0M | $132.4M |
自由现金流率MASSATS
| Q1 26 | — | — | ||
| Q4 25 | 20.7% | -15.4% | ||
| Q3 25 | 21.6% | -4.0% | ||
| Q2 25 | 13.2% | -7.7% | ||
| Q1 25 | -10.5% | -1.3% | ||
| Q4 24 | 19.2% | -7.5% | ||
| Q3 24 | 19.1% | -1.5% | ||
| Q2 24 | 14.5% | 3.3% |
资本支出强度MASSATS
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.6% | 4.2% | ||
| Q3 25 | 2.1% | 7.1% | ||
| Q2 25 | 1.8% | 7.9% | ||
| Q1 25 | 1.8% | 6.7% | ||
| Q4 24 | 3.1% | 8.7% | ||
| Q3 24 | 1.9% | 8.6% | ||
| Q2 24 | 2.1% | 8.8% |
现金转化率MASSATS
| Q1 26 | — | — | ||
| Q4 25 | 2.53× | — | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | 1.13× | — | ||
| Q1 25 | -0.85× | — | ||
| Q4 24 | 2.24× | 0.14× | ||
| Q3 24 | 2.49× | — | ||
| Q2 24 | 1.34× | — |
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
MAS
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% |
