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Madison Square Garden Entertainment Corp.（MSGE）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是Madison Square Garden Entertainment Corp.的1.6倍（$664.6M vs $424.8M），Madison Square Garden Entertainment Corp.净利率更高（21.8% vs 10.4%，领先11.4%），Ryman Hospitality Properties, Inc.同比增速更快（13.2% vs 12.5%），过去两年Madison Square Garden Entertainment Corp.的营收复合增速更高（48.9% vs 4.1%）
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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
MSGE vs RHP — 直观对比
损益表 — Q2 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $424.8M | $664.6M |
| 净利润 | $92.7M | $69.4M |
| 毛利率 | — | — |
| 营业利润率 | 38.6% | 20.7% |
| 净利率 | 21.8% | 10.4% |
| 营收同比 | 12.5% | 13.2% |
| 净利润同比 | 22.2% | 10.1% |
| 每股收益（稀释后） | $1.94 | $1.03 |
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
| Q1 26 | — | $664.6M | ||
| Q4 25 | $424.8M | $737.8M | ||
| Q3 25 | $154.1M | $592.5M | ||
| Q2 25 | $145.1M | $659.5M | ||
| Q1 25 | $206.0M | $587.3M | ||
| Q4 24 | $377.6M | $647.6M | ||
| Q3 24 | $134.1M | $550.0M | ||
| Q2 24 | $177.6M | $613.3M |
| Q1 26 | — | $69.4M | ||
| Q4 25 | $92.7M | $74.5M | ||
| Q3 25 | $-21.7M | $34.9M | ||
| Q2 25 | $-27.2M | $71.8M | ||
| Q1 25 | $8.0M | $63.0M | ||
| Q4 24 | $75.9M | $72.3M | ||
| Q3 24 | $-19.3M | $59.0M | ||
| Q2 24 | $66.9M | $100.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 41.4% | ||
| Q3 25 | — | 40.9% | ||
| Q2 25 | — | 49.7% | ||
| Q1 25 | — | 44.4% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 43.1% | ||
| Q2 24 | — | 48.4% |
| Q1 26 | — | 20.7% | ||
| Q4 25 | 38.6% | 19.4% | ||
| Q3 25 | -19.3% | 15.0% | ||
| Q2 25 | -17.7% | 21.1% | ||
| Q1 25 | 13.3% | 19.8% | ||
| Q4 24 | 36.8% | 18.6% | ||
| Q3 24 | -13.8% | 19.3% | ||
| Q2 24 | -5.0% | 27.4% |
| Q1 26 | — | 10.4% | ||
| Q4 25 | 21.8% | 10.1% | ||
| Q3 25 | -14.0% | 5.9% | ||
| Q2 25 | -18.7% | 10.9% | ||
| Q1 25 | 3.9% | 10.7% | ||
| Q4 24 | 20.1% | 11.2% | ||
| Q3 24 | -14.4% | 10.7% | ||
| Q2 24 | 37.7% | 16.4% |
| Q1 26 | — | $1.03 | ||
| Q4 25 | $1.94 | $1.12 | ||
| Q3 25 | $-0.46 | $0.53 | ||
| Q2 25 | $-0.56 | $1.12 | ||
| Q1 25 | $0.17 | $1.00 | ||
| Q4 24 | $1.56 | $1.12 | ||
| Q3 24 | $-0.40 | $0.94 | ||
| Q2 24 | $1.32 | $1.65 |
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 | $157.1M | — |
| 总债务越低越好 | $554.6M | — |
| 股东权益账面价值 | $36.0M | $770.8M |
| 总资产 | $1.8B | $6.2B |
| 负债/权益比越低杠杆越低 | 15.40× | — |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $157.1M | $471.4M | ||
| Q3 25 | $29.9M | $483.3M | ||
| Q2 25 | $43.0M | $420.6M | ||
| Q1 25 | $89.0M | $413.9M | ||
| Q4 24 | $54.9M | $477.7M | ||
| Q3 24 | $37.3M | $534.9M | ||
| Q2 24 | $33.3M | $498.4M |
| Q1 26 | — | — | ||
| Q4 25 | $554.6M | — | ||
| Q3 25 | $581.7M | — | ||
| Q2 25 | $568.8M | — | ||
| Q1 25 | $577.4M | — | ||
| Q4 24 | $584.7M | — | ||
| Q3 24 | $647.0M | — | ||
| Q2 24 | $599.2M | — |
| Q1 26 | — | $770.8M | ||
| Q4 25 | $36.0M | $750.2M | ||
| Q3 25 | $-65.8M | $758.5M | ||
| Q2 25 | $-13.3M | $800.4M | ||
| Q1 25 | $9.5M | $531.5M | ||
| Q4 24 | $10.3M | $549.0M | ||
| Q3 24 | $-48.7M | $551.9M | ||
| Q2 24 | $-23.2M | $562.6M |
| Q1 26 | — | $6.2B | ||
| Q4 25 | $1.8B | $6.2B | ||
| Q3 25 | $1.7B | $6.2B | ||
| Q2 25 | $1.7B | $6.1B | ||
| Q1 25 | $1.7B | $5.2B | ||
| Q4 24 | $1.6B | $5.2B | ||
| Q3 24 | $1.6B | $5.2B | ||
| Q2 24 | $1.6B | $5.1B |
| Q1 26 | — | — | ||
| Q4 25 | 15.40× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 60.61× | — | ||
| Q4 24 | 56.61× | — | ||
| 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 | $164.4M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.77× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $164.4M | $164.7M | ||
| Q3 25 | $19.8M | $205.2M | ||
| Q2 25 | $-27.0M | $122.5M | ||
| Q1 25 | $56.8M | $98.2M | ||
| Q4 24 | $112.9M | $166.6M | ||
| Q3 24 | $-27.4M | $218.1M | ||
| Q2 24 | $212.0K | $184.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $58.5M | ||
| Q3 25 | — | $135.4M | ||
| Q2 25 | — | $53.0M | ||
| Q1 25 | — | $-14.5M | ||
| Q4 24 | — | $76.0M | ||
| Q3 24 | — | $85.7M | ||
| Q2 24 | — | $78.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 7.9% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 8.0% | ||
| Q1 25 | — | -2.5% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 15.6% | ||
| Q2 24 | — | 12.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.4% | ||
| Q3 25 | — | 11.8% | ||
| Q2 25 | — | 10.5% | ||
| Q1 25 | — | 19.2% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | — | 24.1% | ||
| Q2 24 | — | 17.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.77× | 2.21× | ||
| Q3 25 | — | 5.88× | ||
| Q2 25 | — | 1.71× | ||
| Q1 25 | 7.07× | 1.56× | ||
| Q4 24 | 1.49× | 2.30× | ||
| Q3 24 | — | 3.70× | ||
| Q2 24 | 0.00× | 1.83× |
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
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% |
RHP
| Food and beverage | $289.3M | 44% |
| Rooms | $223.8M | 34% |
| Entertainment | $79.2M | 12% |
| Other | $72.3M | 11% |
