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纽蒙特（NEM）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
纽蒙特的季度营收约是EchoStar CORP的1.9倍（$7.3B vs $3.8B），纽蒙特净利率更高（26.0% vs -31.8%，领先57.8%），EchoStar CORP同比增速更快（-4.3% vs -31.4%），纽蒙特自由现金流更多（$1.2B vs $-583.4M），过去两年纽蒙特的营收复合增速更高（28.8% vs -2.8%）
纽蒙特公司是总部位于美国科罗拉多州丹佛市的金矿企业，为全球规模最大的金矿开采集团。公司成立于1921年，在全球十余个国家持有金矿资产，还与巴里克矿业共同持有内华达金矿的部分股权，除黄金外也开采铜、银、锌、铅等多种金属。
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。
NEM vs SATS — 直观对比
营收规模更大
NEM
是对方的1.9倍
$3.8B
营收增速更快
SATS
高出27.1%
-31.4%
净利率更高
NEM
高出57.8%
-31.8%
自由现金流更多
NEM
多$1.8B
$-583.4M
两年增速更快
NEM
近两年复合增速
-2.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $7.3B | $3.8B |
| 净利润 | $1.9B | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | — | -20.5% |
| 净利率 | 26.0% | -31.8% |
| 营收同比 | -31.4% | -4.3% |
| 净利润同比 | -8.3% | -460.1% |
| 每股收益（稀释后） | $1.68 | $-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NEMSATS
| Q1 26 | $7.3B | — | ||
| Q4 25 | $6.8B | $3.8B | ||
| Q3 25 | $5.5B | $3.6B | ||
| Q2 25 | $5.3B | $3.7B | ||
| Q1 25 | $5.0B | $3.9B | ||
| Q4 24 | $5.7B | $4.0B | ||
| Q3 24 | $4.6B | $3.9B | ||
| Q2 24 | $4.4B | $4.0B |
净利润NEMSATS
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.3B | $-1.2B | ||
| Q3 25 | $1.8B | $-12.8B | ||
| Q2 25 | $2.1B | $-306.1M | ||
| Q1 25 | $1.9B | $-202.7M | ||
| Q4 24 | $1.4B | $335.2M | ||
| Q3 24 | $922.0M | $-141.8M | ||
| Q2 24 | $853.0M | $-205.6M |
营业利润率NEMSATS
| Q1 26 | — | — | ||
| Q4 25 | 47.6% | -20.5% | ||
| Q3 25 | 45.4% | -460.5% | ||
| Q2 25 | 58.6% | -5.7% | ||
| Q1 25 | 49.3% | -2.3% | ||
| Q4 24 | 36.3% | -1.6% | ||
| Q3 24 | 23.0% | -4.1% | ||
| Q2 24 | 23.5% | -1.7% |
净利率NEMSATS
| Q1 26 | 26.0% | — | ||
| Q4 25 | 19.1% | -31.8% | ||
| Q3 25 | 33.2% | -353.6% | ||
| Q2 25 | 38.8% | -8.2% | ||
| Q1 25 | 37.7% | -5.2% | ||
| Q4 24 | 24.8% | 8.5% | ||
| Q3 24 | 20.0% | -3.6% | ||
| Q2 24 | 19.4% | -5.2% |
每股收益（稀释后）NEMSATS
| Q1 26 | $1.68 | — | ||
| Q4 25 | $1.19 | $-4.27 | ||
| Q3 25 | $1.67 | $-44.37 | ||
| Q2 25 | $1.85 | $-1.06 | ||
| Q1 25 | $1.68 | $-0.71 | ||
| Q4 24 | $1.23 | $1.24 | ||
| Q3 24 | $0.80 | $-0.52 | ||
| Q2 24 | $0.74 | $-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 | $4.7B | $3.0B |
| 总债务越低越好 | — | $18.7B |
| 股东权益账面价值 | $31.4B | $5.8B |
| 总资产 | $55.5B | $43.0B |
| 负债/权益比越低杠杆越低 | — | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资NEMSATS
| Q1 26 | $4.7B | — | ||
| Q4 25 | $8.2B | $3.0B | ||
| Q3 25 | $6.0B | $3.9B | ||
| Q2 25 | $6.7B | $4.3B | ||
| Q1 25 | $4.7B | $5.1B | ||
| Q4 24 | $3.6B | $5.5B | ||
| Q3 24 | $3.1B | $674.4M | ||
| Q2 24 | $2.7B | $520.6M |
总债务NEMSATS
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | $18.7B | ||
| Q3 25 | $5.2B | $21.8B | ||
| Q2 25 | $7.1B | $25.4B | ||
| Q1 25 | $7.5B | $25.3B | ||
| Q4 24 | $8.5B | $25.7B | ||
| Q3 24 | $8.6B | — | ||
| Q2 24 | $8.7B | — |
股东权益NEMSATS
| Q1 26 | $31.4B | — | ||
| Q4 25 | $33.9B | $5.8B | ||
| Q3 25 | $33.2B | $7.0B | ||
| Q2 25 | $32.1B | $19.7B | ||
| Q1 25 | $31.2B | $20.0B | ||
| Q4 24 | $29.9B | $20.2B | ||
| Q3 24 | $29.7B | $19.4B | ||
| Q2 24 | $29.4B | $19.6B |
总资产NEMSATS
| Q1 26 | $55.5B | — | ||
| Q4 25 | $57.1B | $43.0B | ||
| Q3 25 | $54.7B | $45.3B | ||
| Q2 25 | $55.2B | $59.9B | ||
| Q1 25 | $55.5B | $60.6B | ||
| Q4 24 | $56.3B | $60.9B | ||
| Q3 24 | $56.2B | $57.5B | ||
| Q2 24 | $55.7B | $55.3B |
负债/权益比NEMSATS
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | 3.24× | ||
| Q3 25 | 0.16× | 3.13× | ||
| Q2 25 | 0.22× | 1.29× | ||
| Q1 25 | 0.24× | 1.27× | ||
| Q4 24 | 0.28× | 1.27× | ||
| Q3 24 | 0.29× | — | ||
| Q2 24 | 0.30× | — |
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 | $1.2B | $-583.4M |
| 自由现金流率自由现金流/营收 | 16.5% | -15.4% |
| 资本支出强度资本支出/营收 | 11.3% | 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 | $7.3B | $-1.1B |
8季度趋势，按日历期对齐
经营现金流NEMSATS
| Q1 26 | — | — | ||
| Q4 25 | $3.6B | $-425.3M | ||
| Q3 25 | $2.3B | $111.7M | ||
| Q2 25 | $2.4B | $7.5M | ||
| Q1 25 | $2.0B | $206.8M | ||
| Q4 24 | $2.5B | $45.6M | ||
| Q3 24 | $1.6B | $276.2M | ||
| Q2 24 | $1.4B | $479.7M |
自由现金流NEMSATS
| Q1 26 | $1.2B | — | ||
| Q4 25 | $2.8B | $-583.4M | ||
| Q3 25 | $1.6B | $-144.4M | ||
| Q2 25 | $1.7B | $-285.7M | ||
| Q1 25 | $1.2B | $-51.7M | ||
| Q4 24 | $1.6B | $-298.7M | ||
| Q3 24 | $771.0M | $-57.5M | ||
| Q2 24 | $628.0M | $132.4M |
自由现金流率NEMSATS
| Q1 26 | 16.5% | — | ||
| Q4 25 | 41.3% | -15.4% | ||
| Q3 25 | 28.4% | -4.0% | ||
| Q2 25 | 32.2% | -7.7% | ||
| Q1 25 | 24.1% | -1.3% | ||
| Q4 24 | 28.9% | -7.5% | ||
| Q3 24 | 16.7% | -1.5% | ||
| Q2 24 | 14.3% | 3.3% |
资本支出强度NEMSATS
| Q1 26 | 11.3% | — | ||
| Q4 25 | 11.9% | 4.2% | ||
| Q3 25 | 13.2% | 7.1% | ||
| Q2 25 | 12.7% | 7.9% | ||
| Q1 25 | 16.5% | 6.7% | ||
| Q4 24 | 15.5% | 8.7% | ||
| Q3 24 | 19.0% | 8.6% | ||
| Q2 24 | 18.2% | 8.8% |
现金转化率NEMSATS
| Q1 26 | — | — | ||
| Q4 25 | 2.78× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 1.79× | 0.14× | ||
| Q3 24 | 1.79× | — | ||
| Q2 24 | 1.67× | — |
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
NEM
| Consolidated gold sales, net | $6.0B | 83% |
| Other | $506.0M | 7% |
| Consolidated copper sales, net | $354.0M | 5% |
| Consolidated silver sales, net | $188.0M | 3% |
| Consolidated zinc sales, net | $181.0M | 2% |
| Consolidated lead sales, net | $42.0M | 1% |
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% |
