vs
Madison Square Garden Entertainment Corp.（MSGE）与EXPRO GROUP HOLDINGS N.V.（XPRO）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EXPRO GROUP HOLDINGS N.V.的1.1倍（$424.8M vs $382.1M），Madison Square Garden Entertainment Corp.净利率更高（21.8% vs 1.5%，领先20.3%），Madison Square Garden Entertainment Corp.同比增速更快（12.5% vs -12.5%），过去两年Madison Square Garden Entertainment Corp.的营收复合增速更高（48.9% vs -0.2%）
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。
Expro是一家能源服务提供商，总部位于美国得克萨斯州休斯敦，主要为油气等能源领域的客户提供相关技术服务与解决方案，业务覆盖全球多个主要能源产区，助力行业实现高效、安全的开发运营。
MSGE vs XPRO — 直观对比
营收规模更大
MSGE
是对方的1.1倍
$382.1M
营收增速更快
MSGE
高出25.0%
-12.5%
净利率更高
MSGE
高出20.3%
1.5%
两年增速更快
MSGE
近两年复合增速
-0.2%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $424.8M | $382.1M |
| 净利润 | $92.7M | $5.8M |
| 毛利率 | — | — |
| 营业利润率 | 38.6% | 3.1% |
| 净利率 | 21.8% | 1.5% |
| 营收同比 | 12.5% | -12.5% |
| 净利润同比 | 22.2% | -74.9% |
| 每股收益（稀释后） | $1.94 | $0.05 |
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MSGEXPRO
| Q4 25 | $424.8M | $382.1M | ||
| Q3 25 | $154.1M | $411.4M | ||
| Q2 25 | $145.1M | $422.7M | ||
| Q1 25 | $206.0M | $390.9M | ||
| Q4 24 | $377.6M | $436.8M | ||
| Q3 24 | $134.1M | $422.8M | ||
| Q2 24 | $177.6M | $469.6M | ||
| Q1 24 | $191.6M | $383.5M |
净利润MSGEXPRO
| Q4 25 | $92.7M | $5.8M | ||
| Q3 25 | $-21.7M | $14.0M | ||
| Q2 25 | $-27.2M | $18.0M | ||
| Q1 25 | $8.0M | $13.9M | ||
| Q4 24 | $75.9M | $23.0M | ||
| Q3 24 | $-19.3M | $16.3M | ||
| Q2 24 | $66.9M | $15.3M | ||
| Q1 24 | $2.8M | $-2.7M |
营业利润率MSGEXPRO
| Q4 25 | 38.6% | 3.1% | ||
| Q3 25 | -19.3% | 6.4% | ||
| Q2 25 | -17.7% | 7.7% | ||
| Q1 25 | 13.3% | 2.6% | ||
| Q4 24 | 36.8% | 7.3% | ||
| Q3 24 | -13.8% | 6.2% | ||
| Q2 24 | -5.0% | 5.9% | ||
| Q1 24 | 8.8% | 2.2% |
净利率MSGEXPRO
| Q4 25 | 21.8% | 1.5% | ||
| Q3 25 | -14.0% | 3.4% | ||
| Q2 25 | -18.7% | 4.3% | ||
| Q1 25 | 3.9% | 3.6% | ||
| Q4 24 | 20.1% | 5.3% | ||
| Q3 24 | -14.4% | 3.8% | ||
| Q2 24 | 37.7% | 3.3% | ||
| Q1 24 | 1.5% | -0.7% |
每股收益（稀释后）MSGEXPRO
| Q4 25 | $1.94 | $0.05 | ||
| Q3 25 | $-0.46 | $0.12 | ||
| Q2 25 | $-0.56 | $0.16 | ||
| Q1 25 | $0.17 | $0.12 | ||
| Q4 24 | $1.56 | $0.20 | ||
| Q3 24 | $-0.40 | $0.14 | ||
| Q2 24 | $1.32 | $0.13 | ||
| Q1 24 | $0.06 | $-0.02 |
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 | $196.1M |
| 总债务越低越好 | $554.6M | $79.1M |
| 股东权益账面价值 | $36.0M | $1.5B |
| 总资产 | $1.8B | $2.3B |
| 负债/权益比越低杠杆越低 | 15.40× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资MSGEXPRO
| Q4 25 | $157.1M | $196.1M | ||
| Q3 25 | $29.9M | $197.9M | ||
| Q2 25 | $43.0M | $206.8M | ||
| Q1 25 | $89.0M | $179.3M | ||
| Q4 24 | $54.9M | $183.0M | ||
| Q3 24 | $37.3M | $165.7M | ||
| Q2 24 | $33.3M | $133.5M | ||
| Q1 24 | $28.0M | $163.2M |
总债务MSGEXPRO
| Q4 25 | $554.6M | $79.1M | ||
| Q3 25 | $581.7M | $99.1M | ||
| Q2 25 | $568.8M | $121.1M | ||
| Q1 25 | $577.4M | $121.1M | ||
| Q4 24 | $584.7M | $121.1M | ||
| Q3 24 | $647.0M | $121.1M | ||
| Q2 24 | $599.2M | $121.1M | ||
| Q1 24 | $602.5M | $40.0M |
股东权益MSGEXPRO
| Q4 25 | $36.0M | $1.5B | ||
| Q3 25 | $-65.8M | $1.5B | ||
| Q2 25 | $-13.3M | $1.5B | ||
| Q1 25 | $9.5M | $1.5B | ||
| Q4 24 | $10.3M | $1.5B | ||
| Q3 24 | $-48.7M | $1.5B | ||
| Q2 24 | $-23.2M | $1.5B | ||
| Q1 24 | $-94.6M | $1.3B |
总资产MSGEXPRO
| Q4 25 | $1.8B | $2.3B | ||
| Q3 25 | $1.7B | $2.3B | ||
| Q2 25 | $1.7B | $2.3B | ||
| Q1 25 | $1.7B | $2.3B | ||
| Q4 24 | $1.6B | $2.3B | ||
| Q3 24 | $1.6B | $2.3B | ||
| Q2 24 | $1.6B | $2.3B | ||
| Q1 24 | $1.5B | $2.0B |
负债/权益比MSGEXPRO
| Q4 25 | 15.40× | 0.05× | ||
| Q3 25 | — | 0.07× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | 60.61× | 0.08× | ||
| Q4 24 | 56.61× | 0.08× | ||
| Q3 24 | — | 0.08× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.03× |
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 | $57.1M |
| 自由现金流经营现金流 - 资本支出 | — | $23.2M |
| 自由现金流率自由现金流/营收 | — | 6.1% |
| 资本支出强度资本支出/营收 | — | 8.9% |
| 现金转化率经营现金流/净利润 | 1.77× | 9.89× |
| 过去12个月自由现金流最近4个季度 | — | $97.8M |
8季度趋势，按日历期对齐
经营现金流MSGEXPRO
| Q4 25 | $164.4M | $57.1M | ||
| Q3 25 | $19.8M | $63.2M | ||
| Q2 25 | $-27.0M | $48.4M | ||
| Q1 25 | $56.8M | $41.5M | ||
| Q4 24 | $112.9M | $97.4M | ||
| Q3 24 | $-27.4M | $55.3M | ||
| Q2 24 | $212.0K | $-13.2M | ||
| Q1 24 | $5.8M | $29.9M |
自由现金流MSGEXPRO
| Q4 25 | — | $23.2M | ||
| Q3 25 | — | $39.0M | ||
| Q2 25 | — | $27.2M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | — | $53.0M | ||
| Q3 24 | — | $23.3M | ||
| Q2 24 | — | $-49.5M | ||
| Q1 24 | — | $-801.0K |
自由现金流率MSGEXPRO
| Q4 25 | — | 6.1% | ||
| Q3 25 | — | 9.5% | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 12.1% | ||
| Q3 24 | — | 5.5% | ||
| Q2 24 | — | -10.5% | ||
| Q1 24 | — | -0.2% |
资本支出强度MSGEXPRO
| Q4 25 | — | 8.9% | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | — | 5.0% | ||
| Q1 25 | — | 8.5% | ||
| Q4 24 | — | 10.2% | ||
| Q3 24 | — | 7.6% | ||
| Q2 24 | — | 7.7% | ||
| Q1 24 | — | 8.0% |
现金转化率MSGEXPRO
| Q4 25 | 1.77× | 9.89× | ||
| Q3 25 | — | 4.52× | ||
| Q2 25 | — | 2.69× | ||
| Q1 25 | 7.07× | 2.98× | ||
| Q4 24 | 1.49× | 4.23× | ||
| Q3 24 | — | 3.40× | ||
| Q2 24 | 0.00× | -0.86× | ||
| Q1 24 | 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
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% |
XPRO
| NLA | $130.3M | 34% |
| ESSA | $116.3M | 30% |
| MENA | $93.0M | 24% |
| Other | $42.5M | 11% |
