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MDU RESOURCES GROUP INC（MDU）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
MDU RESOURCES GROUP INC的季度营收约是Madison Square Garden Entertainment Corp.的1.2倍（$522.6M vs $424.8M），Madison Square Garden Entertainment Corp.净利率更高（21.8% vs 14.6%，领先7.2%），Madison Square Garden Entertainment Corp.同比增速更快（12.5% vs -1.6%），过去两年Madison Square Garden Entertainment Corp.的营收复合增速更高（48.9% vs -5.7%）
MDU资源集团是一家总部位于美国北达科他州俾斯麦的企业，业务涵盖受监管的能源输送供应，以及公用事业相关的建筑材料与服务，业务范围覆盖美国48个州，是当地能源及基建服务领域的重要参与者。
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。
MDU vs MSGE — 直观对比
营收规模更大
MDU
是对方的1.2倍
$424.8M
营收增速更快
MSGE
高出14.1%
-1.6%
净利率更高
MSGE
高出7.2%
14.6%
两年增速更快
MSGE
近两年复合增速
-5.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $522.6M | $424.8M |
| 净利润 | $76.3M | $92.7M |
| 毛利率 | — | — |
| 营业利润率 | 20.5% | 38.6% |
| 净利率 | 14.6% | 21.8% |
| 营收同比 | -1.6% | 12.5% |
| 净利润同比 | 38.4% | 22.2% |
| 每股收益（稀释后） | $0.37 | $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MDUMSGE
| Q4 25 | $522.6M | $424.8M | ||
| Q3 25 | $313.6M | $154.1M | ||
| Q2 25 | $348.7M | $145.1M | ||
| Q1 25 | $678.0M | $206.0M | ||
| Q4 24 | $531.0M | $377.6M | ||
| Q3 24 | $290.7M | $134.1M | ||
| Q2 24 | $343.1M | $177.6M | ||
| Q1 24 | $588.2M | $191.6M |
净利润MDUMSGE
| Q4 25 | $76.3M | $92.7M | ||
| Q3 25 | $18.3M | $-21.7M | ||
| Q2 25 | $13.8M | $-27.2M | ||
| Q1 25 | $82.0M | $8.0M | ||
| Q4 24 | $55.2M | $75.9M | ||
| Q3 24 | $64.6M | $-19.3M | ||
| Q2 24 | $60.4M | $66.9M | ||
| Q1 24 | $100.9M | $2.8M |
营业利润率MDUMSGE
| Q4 25 | 20.5% | 38.6% | ||
| Q3 25 | 12.7% | -19.3% | ||
| Q2 25 | 8.7% | -17.7% | ||
| Q1 25 | 16.6% | 13.3% | ||
| Q4 24 | 17.8% | 36.8% | ||
| Q3 24 | 12.0% | -13.8% | ||
| Q2 24 | 11.5% | -5.0% | ||
| Q1 24 | 16.4% | 8.8% |
净利率MDUMSGE
| Q4 25 | 14.6% | 21.8% | ||
| Q3 25 | 5.8% | -14.0% | ||
| Q2 25 | 4.0% | -18.7% | ||
| Q1 25 | 12.1% | 3.9% | ||
| Q4 24 | 10.4% | 20.1% | ||
| Q3 24 | 22.2% | -14.4% | ||
| Q2 24 | 17.6% | 37.7% | ||
| Q1 24 | 17.2% | 1.5% |
每股收益（稀释后）MDUMSGE
| Q4 25 | $0.37 | $1.94 | ||
| Q3 25 | $0.09 | $-0.46 | ||
| Q2 25 | $0.07 | $-0.56 | ||
| Q1 25 | $0.40 | $0.17 | ||
| Q4 24 | $0.26 | $1.56 | ||
| Q3 24 | $0.32 | $-0.40 | ||
| Q2 24 | $0.30 | $1.32 | ||
| Q1 24 | $0.49 | $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 | $28.2M | $157.1M |
| 总债务越低越好 | $2.7B | $554.6M |
| 股东权益账面价值 | $2.8B | $36.0M |
| 总资产 | $7.6B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.97× | 15.40× |
8季度趋势，按日历期对齐
现金及短期投资MDUMSGE
| Q4 25 | $28.2M | $157.1M | ||
| Q3 25 | $75.9M | $29.9M | ||
| Q2 25 | $58.8M | $43.0M | ||
| Q1 25 | $59.5M | $89.0M | ||
| Q4 24 | $66.9M | $54.9M | ||
| Q3 24 | $88.3M | $37.3M | ||
| Q2 24 | $78.8M | $33.3M | ||
| Q1 24 | $72.7M | $28.0M |
总债务MDUMSGE
| Q4 25 | $2.7B | $554.6M | ||
| Q3 25 | $2.4B | $581.7M | ||
| Q2 25 | $2.2B | $568.8M | ||
| Q1 25 | $2.2B | $577.4M | ||
| Q4 24 | $2.3B | $584.7M | ||
| Q3 24 | $2.3B | $647.0M | ||
| Q2 24 | $2.3B | $599.2M | ||
| Q1 24 | $2.3B | $602.5M |
股东权益MDUMSGE
| Q4 25 | $2.8B | $36.0M | ||
| Q3 25 | $2.7B | $-65.8M | ||
| Q2 25 | $2.7B | $-13.3M | ||
| Q1 25 | $2.7B | $9.5M | ||
| Q4 24 | $2.7B | $10.3M | ||
| Q3 24 | $3.1B | $-48.7M | ||
| Q2 24 | $3.0B | $-23.2M | ||
| Q1 24 | $3.0B | $-94.6M |
总资产MDUMSGE
| Q4 25 | $7.6B | $1.8B | ||
| Q3 25 | $7.2B | $1.7B | ||
| Q2 25 | $6.9B | $1.7B | ||
| Q1 25 | $7.0B | $1.7B | ||
| Q4 24 | $7.0B | $1.6B | ||
| Q3 24 | $8.2B | $1.6B | ||
| Q2 24 | $8.0B | $1.6B | ||
| Q1 24 | $7.8B | $1.5B |
负债/权益比MDUMSGE
| Q4 25 | 0.97× | 15.40× | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.80× | — | ||
| Q1 25 | 0.80× | 60.61× | ||
| Q4 24 | 0.85× | 56.61× | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 0.76× | — |
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 | $80.6M | $164.4M |
| 自由现金流经营现金流 - 资本支出 | $-336.0M | — |
| 自由现金流率自由现金流/营收 | -64.3% | — |
| 资本支出强度资本支出/营收 | 79.7% | — |
| 现金转化率经营现金流/净利润 | 1.06× | 1.77× |
| 过去12个月自由现金流最近4个季度 | $-297.0M | — |
8季度趋势，按日历期对齐
经营现金流MDUMSGE
| Q4 25 | $80.6M | $164.4M | ||
| Q3 25 | $57.9M | $19.8M | ||
| Q2 25 | $117.4M | $-27.0M | ||
| Q1 25 | $217.5M | $56.8M | ||
| Q4 24 | $60.5M | $112.9M | ||
| Q3 24 | $140.2M | $-27.4M | ||
| Q2 24 | $136.5M | $212.0K | ||
| Q1 24 | $165.1M | $5.8M |
自由现金流MDUMSGE
| Q4 25 | $-336.0M | — | ||
| Q3 25 | $-121.9M | — | ||
| Q2 25 | $36.5M | — | ||
| Q1 25 | $124.4M | — | ||
| Q4 24 | $-95.8M | — | ||
| Q3 24 | $673.0K | — | ||
| Q2 24 | $26.5M | — | ||
| Q1 24 | $48.1M | — |
自由现金流率MDUMSGE
| Q4 25 | -64.3% | — | ||
| Q3 25 | -38.9% | — | ||
| Q2 25 | 10.5% | — | ||
| Q1 25 | 18.4% | — | ||
| Q4 24 | -18.0% | — | ||
| Q3 24 | 0.2% | — | ||
| Q2 24 | 7.7% | — | ||
| Q1 24 | 8.2% | — |
资本支出强度MDUMSGE
| Q4 25 | 79.7% | — | ||
| Q3 25 | 57.3% | — | ||
| Q2 25 | 23.2% | — | ||
| Q1 25 | 13.7% | — | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 48.0% | — | ||
| Q2 24 | 32.0% | — | ||
| Q1 24 | 19.9% | — |
现金转化率MDUMSGE
| Q4 25 | 1.06× | 1.77× | ||
| Q3 25 | 3.16× | — | ||
| Q2 25 | 8.52× | — | ||
| Q1 25 | 2.65× | 7.07× | ||
| Q4 24 | 1.10× | 1.49× | ||
| Q3 24 | 2.17× | — | ||
| Q2 24 | 2.26× | 0.00× | ||
| Q1 24 | 1.64× | 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
MDU
| Natural Gas Distribution | $382.8M | 73% |
| Commercial Utility Sales | $42.7M | 8% |
| Residential Utility Sales | $33.7M | 6% |
| Pipelineand Midstream | $31.1M | 6% |
| Natural Gas Transportation | $17.2M | 3% |
| Industrial Utility Sales | $10.1M | 2% |
| Natural Gas Storage | $6.4M | 1% |
| Other Utility Sales | $1.9M | 0% |
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% |
