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新闻集团（NWSA）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
EchoStar CORP的季度营收约是新闻集团的1.6倍（$3.8B vs $2.4B），新闻集团净利率更高（8.2% vs -31.8%，领先40.0%），新闻集团同比增速更快（5.5% vs -4.3%），新闻集团自由现金流更多（$132.0M vs $-583.4M），过去两年新闻集团的营收复合增速更高（-1.3% vs -2.8%）
新闻集团是全球知名的媒体集团，旗下拥有报纸、出版、数字媒体等多项媒体业务，在全球传媒领域拥有广泛影响力，专注于为受众提供及时多元的时事资讯与内容服务。
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。
NWSA vs SATS — 直观对比
营收规模更大
SATS
是对方的1.6倍
$2.4B
营收增速更快
NWSA
高出9.8%
-4.3%
净利率更高
NWSA
高出40.0%
-31.8%
自由现金流更多
NWSA
多$715.4M
$-583.4M
两年增速更快
NWSA
近两年复合增速
-2.8%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.4B | $3.8B |
| 净利润 | $193.0M | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | — | -20.5% |
| 净利率 | 8.2% | -31.8% |
| 营收同比 | 5.5% | -4.3% |
| 净利润同比 | -10.2% | -460.1% |
| 每股收益（稀释后） | $0.34 | $-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NWSASATS
| Q4 25 | $2.4B | $3.8B | ||
| Q3 25 | $2.1B | $3.6B | ||
| Q2 25 | $1.6B | $3.7B | ||
| Q1 25 | $2.0B | $3.9B | ||
| Q4 24 | $2.2B | $4.0B | ||
| Q3 24 | $2.6B | $3.9B | ||
| Q2 24 | $2.6B | $4.0B | ||
| Q1 24 | $2.4B | $4.0B |
净利润NWSASATS
| Q4 25 | $193.0M | $-1.2B | ||
| Q3 25 | $112.0M | $-12.8B | ||
| Q2 25 | $743.0M | $-306.1M | ||
| Q1 25 | $103.0M | $-202.7M | ||
| Q4 24 | $215.0M | $335.2M | ||
| Q3 24 | $119.0M | $-141.8M | ||
| Q2 24 | $50.0M | $-205.6M | ||
| Q1 24 | $30.0M | $-107.4M |
营业利润率NWSASATS
| Q4 25 | — | -20.5% | ||
| Q3 25 | — | -460.5% | ||
| Q2 25 | 8.5% | -5.7% | ||
| Q1 25 | 7.5% | -2.3% | ||
| Q4 24 | 19.2% | -1.6% | ||
| Q3 24 | 7.9% | -4.1% | ||
| Q2 24 | 4.3% | -1.7% | ||
| Q1 24 | 2.6% | -0.4% |
净利率NWSASATS
| Q4 25 | 8.2% | -31.8% | ||
| Q3 25 | 5.2% | -353.6% | ||
| Q2 25 | 45.6% | -8.2% | ||
| Q1 25 | 5.1% | -5.2% | ||
| Q4 24 | 9.6% | 8.5% | ||
| Q3 24 | 4.6% | -3.6% | ||
| Q2 24 | 1.9% | -5.2% | ||
| Q1 24 | 1.2% | -2.7% |
每股收益（稀释后）NWSASATS
| Q4 25 | $0.34 | $-4.27 | ||
| Q3 25 | $0.20 | $-44.37 | ||
| Q2 25 | $1.30 | $-1.06 | ||
| Q1 25 | $0.18 | $-0.71 | ||
| Q4 24 | $0.38 | $1.24 | ||
| Q3 24 | $0.21 | $-0.52 | ||
| Q2 24 | $0.09 | $-0.76 | ||
| Q1 24 | $0.05 | $-0.40 |
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 | $2.1B | $3.0B |
| 总债务越低越好 | $2.0B | $18.7B |
| 股东权益账面价值 | $8.8B | $5.8B |
| 总资产 | $15.5B | $43.0B |
| 负债/权益比越低杠杆越低 | 0.22× | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资NWSASATS
| Q4 25 | $2.1B | $3.0B | ||
| Q3 25 | $2.2B | $3.9B | ||
| Q2 25 | $2.4B | $4.3B | ||
| Q1 25 | $2.1B | $5.1B | ||
| Q4 24 | $1.8B | $5.5B | ||
| Q3 24 | $1.8B | $674.4M | ||
| Q2 24 | $2.0B | $520.6M | ||
| Q1 24 | $1.9B | $766.4M |
总债务NWSASATS
| Q4 25 | $2.0B | $18.7B | ||
| Q3 25 | $2.0B | $21.8B | ||
| Q2 25 | $2.0B | $25.4B | ||
| Q1 25 | $2.0B | $25.3B | ||
| Q4 24 | $2.0B | $25.7B | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.9B | — | ||
| Q1 24 | $2.9B | $951.0M |
股东权益NWSASATS
| Q4 25 | $8.8B | $5.8B | ||
| Q3 25 | $8.7B | $7.0B | ||
| Q2 25 | $8.8B | $19.7B | ||
| Q1 25 | $8.2B | $20.0B | ||
| Q4 24 | $8.1B | $20.2B | ||
| Q3 24 | $8.3B | $19.4B | ||
| Q2 24 | $8.1B | $19.6B | ||
| Q1 24 | $8.1B | $19.8B |
总资产NWSASATS
| Q4 25 | $15.5B | $43.0B | ||
| Q3 25 | $15.3B | $45.3B | ||
| Q2 25 | $15.5B | $59.9B | ||
| Q1 25 | $16.6B | $60.6B | ||
| Q4 24 | $16.2B | $60.9B | ||
| Q3 24 | $16.9B | $57.5B | ||
| Q2 24 | $16.7B | $55.3B | ||
| Q1 24 | $16.5B | $55.6B |
负债/权益比NWSASATS
| Q4 25 | 0.22× | 3.24× | ||
| Q3 25 | 0.22× | 3.13× | ||
| Q2 25 | 0.22× | 1.29× | ||
| Q1 25 | 0.24× | 1.27× | ||
| Q4 24 | 0.24× | 1.27× | ||
| Q3 24 | 0.35× | — | ||
| Q2 24 | 0.36× | — | ||
| Q1 24 | 0.36× | 0.05× |
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 | $231.0M | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $132.0M | $-583.4M |
| 自由现金流率自由现金流/营收 | 5.6% | -15.4% |
| 资本支出强度资本支出/营收 | 4.2% | 4.2% |
| 现金转化率经营现金流/净利润 | 1.20× | — |
| 过去12个月自由现金流最近4个季度 | $586.0M | $-1.1B |
8季度趋势，按日历期对齐
经营现金流NWSASATS
| Q4 25 | $231.0M | $-425.3M | ||
| Q3 25 | $85.0M | $111.7M | ||
| Q2 25 | $189.0M | $7.5M | ||
| Q1 25 | $511.0M | $206.8M | ||
| Q4 24 | $252.0M | $45.6M | ||
| Q3 24 | $64.0M | $276.2M | ||
| Q2 24 | $254.0M | $479.7M | ||
| Q1 24 | $539.0M | $451.3M |
自由现金流NWSASATS
| Q4 25 | $132.0M | $-583.4M | ||
| Q3 25 | $4.0M | $-144.4M | ||
| Q2 25 | $32.0M | $-285.7M | ||
| Q1 25 | $418.0M | $-51.7M | ||
| Q4 24 | $190.0M | $-298.7M | ||
| Q3 24 | $-31.0M | $-57.5M | ||
| Q2 24 | $111.0M | $132.4M | ||
| Q1 24 | $422.0M | $-68.4M |
自由现金流率NWSASATS
| Q4 25 | 5.6% | -15.4% | ||
| Q3 25 | 0.2% | -4.0% | ||
| Q2 25 | 2.0% | -7.7% | ||
| Q1 25 | 20.8% | -1.3% | ||
| Q4 24 | 8.5% | -7.5% | ||
| Q3 24 | -1.2% | -1.5% | ||
| Q2 24 | 4.3% | 3.3% | ||
| Q1 24 | 17.4% | -1.7% |
资本支出强度NWSASATS
| Q4 25 | 4.2% | 4.2% | ||
| Q3 25 | 3.8% | 7.1% | ||
| Q2 25 | 9.6% | 7.9% | ||
| Q1 25 | 4.6% | 6.7% | ||
| Q4 24 | 2.8% | 8.7% | ||
| Q3 24 | 3.7% | 8.6% | ||
| Q2 24 | 5.5% | 8.8% | ||
| Q1 24 | 4.8% | 12.9% |
现金转化率NWSASATS
| Q4 25 | 1.20× | — | ||
| Q3 25 | 0.76× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 4.96× | — | ||
| Q4 24 | 1.17× | 0.14× | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 5.08× | — | ||
| Q1 24 | 17.97× | — |
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
NWSA
| Book Publishing Segment | $633.0M | 27% |
| Consumer | $607.0M | 26% |
| News And Information Services Segment | $570.0M | 24% |
| Real Estate | $401.0M | 17% |
| Other Product Or Service | $173.0M | 7% |
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% |
