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Madison Square Garden Entertainment Corp.（MSGE）与Royalty Pharma plc（RPRX）财务数据对比。点击上方公司名可切换其他公司
Royalty Pharma plc的季度营收约是Madison Square Garden Entertainment Corp.的1.5倍（$622.0M vs $424.8M），Royalty Pharma plc净利率更高（34.4% vs 21.8%，领先12.6%），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 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
MSGE vs RPRX — 直观对比
营收规模更大
RPRX
是对方的1.5倍
$424.8M
营收增速更快
MSGE
高出7.7%
4.8%
净利率更高
RPRX
高出12.6%
21.8%
两年增速更快
MSGE
近两年复合增速
4.6%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $424.8M | $622.0M |
| 净利润 | $92.7M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | 38.6% | 62.4% |
| 净利率 | 21.8% | 34.4% |
| 营收同比 | 12.5% | 4.8% |
| 净利润同比 | 22.2% | 2.9% |
| 每股收益（稀释后） | $1.94 | $0.49 |
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MSGERPRX
| Q4 25 | $424.8M | $622.0M | ||
| Q3 25 | $154.1M | $609.3M | ||
| Q2 25 | $145.1M | $578.7M | ||
| Q1 25 | $206.0M | $568.2M | ||
| Q4 24 | $377.6M | $593.6M | ||
| Q3 24 | $134.1M | $564.7M | ||
| Q2 24 | $177.6M | $537.3M | ||
| Q1 24 | $191.6M | $568.0M |
净利润MSGERPRX
| Q4 25 | $92.7M | $214.2M | ||
| Q3 25 | $-21.7M | $288.2M | ||
| Q2 25 | $-27.2M | $30.2M | ||
| Q1 25 | $8.0M | $238.3M | ||
| Q4 24 | $75.9M | $208.2M | ||
| Q3 24 | $-19.3M | $544.0M | ||
| Q2 24 | $66.9M | $102.0M | ||
| Q1 24 | $2.8M | $4.8M |
营业利润率MSGERPRX
| Q4 25 | 38.6% | 62.4% | ||
| Q3 25 | -19.3% | 70.1% | ||
| Q2 25 | -17.7% | 36.3% | ||
| Q1 25 | 13.3% | 94.0% | ||
| Q4 24 | 36.8% | 60.9% | ||
| Q3 24 | -13.8% | — | ||
| Q2 24 | -5.0% | 50.2% | ||
| Q1 24 | 8.8% | -13.0% |
净利率MSGERPRX
| Q4 25 | 21.8% | 34.4% | ||
| Q3 25 | -14.0% | 47.3% | ||
| Q2 25 | -18.7% | 5.2% | ||
| Q1 25 | 3.9% | 41.9% | ||
| Q4 24 | 20.1% | 35.1% | ||
| Q3 24 | -14.4% | 96.3% | ||
| Q2 24 | 37.7% | 19.0% | ||
| Q1 24 | 1.5% | 0.8% |
每股收益（稀释后）MSGERPRX
| Q4 25 | $1.94 | $0.49 | ||
| Q3 25 | $-0.46 | $0.67 | ||
| Q2 25 | $-0.56 | $0.07 | ||
| Q1 25 | $0.17 | $0.55 | ||
| Q4 24 | $1.56 | $0.46 | ||
| Q3 24 | $-0.40 | $1.21 | ||
| Q2 24 | $1.32 | $0.23 | ||
| Q1 24 | $0.06 | $0.01 |
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 | $618.7M |
| 总债务越低越好 | $554.6M | $9.0B |
| 股东权益账面价值 | $36.0M | $9.7B |
| 总资产 | $1.8B | $19.6B |
| 负债/权益比越低杠杆越低 | 15.40× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资MSGERPRX
| Q4 25 | $157.1M | $618.7M | ||
| Q3 25 | $29.9M | $938.9M | ||
| Q2 25 | $43.0M | $631.9M | ||
| Q1 25 | $89.0M | $1.1B | ||
| Q4 24 | $54.9M | $929.0M | ||
| Q3 24 | $37.3M | $950.1M | ||
| Q2 24 | $33.3M | $1.8B | ||
| Q1 24 | $28.0M | $843.0M |
总债务MSGERPRX
| Q4 25 | $554.6M | $9.0B | ||
| Q3 25 | $581.7M | $8.9B | ||
| Q2 25 | $568.8M | $8.0B | ||
| Q1 25 | $577.4M | $7.6B | ||
| Q4 24 | $584.7M | $7.6B | ||
| Q3 24 | $647.0M | $7.6B | ||
| Q2 24 | $599.2M | $7.6B | ||
| Q1 24 | $602.5M | $6.1B |
股东权益MSGERPRX
| Q4 25 | $36.0M | $9.7B | ||
| Q3 25 | $-65.8M | $9.6B | ||
| Q2 25 | $-13.3M | $9.5B | ||
| Q1 25 | $9.5M | $9.8B | ||
| Q4 24 | $10.3M | $10.3B | ||
| Q3 24 | $-48.7M | $10.3B | ||
| Q2 24 | $-23.2M | $9.8B | ||
| Q1 24 | $-94.6M | $9.9B |
总资产MSGERPRX
| Q4 25 | $1.8B | $19.6B | ||
| Q3 25 | $1.7B | $19.3B | ||
| Q2 25 | $1.7B | $18.3B | ||
| Q1 25 | $1.7B | $17.6B | ||
| Q4 24 | $1.6B | $18.2B | ||
| Q3 24 | $1.6B | $18.0B | ||
| Q2 24 | $1.6B | $17.7B | ||
| Q1 24 | $1.5B | $16.1B |
负债/权益比MSGERPRX
| Q4 25 | 15.40× | 0.92× | ||
| Q3 25 | — | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | 60.61× | 0.78× | ||
| Q4 24 | 56.61× | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.62× |
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 | $827.1M |
| 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× | 3.86× |
| 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
经营现金流MSGERPRX
| Q4 25 | $164.4M | $827.1M | ||
| Q3 25 | $19.8M | $702.6M | ||
| Q2 25 | $-27.0M | $364.0M | ||
| Q1 25 | $56.8M | $596.1M | ||
| Q4 24 | $112.9M | $742.5M | ||
| Q3 24 | $-27.4M | $703.6M | ||
| Q2 24 | $212.0K | $658.2M | ||
| Q1 24 | $5.8M | $664.6M |
现金转化率MSGERPRX
| Q4 25 | 1.77× | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | 7.07× | 2.50× | ||
| Q4 24 | 1.49× | 3.57× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | 0.00× | 6.45× | ||
| Q1 24 | 2.08× | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
