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Paramount Skydance Corporation（PSKY）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
Paramount Skydance Corporation的季度营收约是EchoStar CORP的1.1倍（$4.1B vs $3.8B），Paramount Skydance Corporation净利率更高（-0.3% vs -31.8%，领先31.5%），EchoStar CORP同比增速更快（-4.3% vs -38.8%），Paramount Skydance Corporation自由现金流更多（$222.0M vs $-583.4M）
派拉蒙天空之舞是美国跨国传媒娱乐集团，总部坐落于加利福尼亚州洛杉矶市好莱坞的派拉蒙影业园区内，旗下多家派拉蒙业务分支、子公司及核心办公会议场所均设于纽约阿斯特广场一号的原派拉蒙全球总部大楼。
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。
PSKY vs SATS — 直观对比
营收规模更大
PSKY
是对方的1.1倍
$3.8B
营收增速更快
SATS
高出34.5%
-38.8%
净利率更高
PSKY
高出31.5%
-31.8%
自由现金流更多
PSKY
多$805.4M
$-583.4M
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $4.1B | $3.8B |
| 净利润 | $-13.0M | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | 5.9% | -20.5% |
| 净利率 | -0.3% | -31.8% |
| 营收同比 | -38.8% | -4.3% |
| 净利润同比 | -1400.0% | -460.1% |
| 每股收益（稀释后） | $-0.01 | $-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PSKYSATS
| Q4 25 | — | $3.8B | ||
| Q3 25 | $4.1B | $3.6B | ||
| Q2 25 | $0 | $3.7B | ||
| Q1 25 | $0 | $3.9B | ||
| Q4 24 | — | $4.0B | ||
| Q3 24 | $6.7B | $3.9B | ||
| Q2 24 | $0 | $4.0B | ||
| Q1 24 | — | $4.0B |
净利润PSKYSATS
| Q4 25 | — | $-1.2B | ||
| Q3 25 | $-13.0M | $-12.8B | ||
| Q2 25 | $0 | $-306.1M | ||
| Q1 25 | $0 | $-202.7M | ||
| Q4 24 | — | $335.2M | ||
| Q3 24 | $1.0M | $-141.8M | ||
| Q2 24 | $0 | $-205.6M | ||
| Q1 24 | — | $-107.4M |
营业利润率PSKYSATS
| Q4 25 | — | -20.5% | ||
| Q3 25 | 5.9% | -460.5% | ||
| Q2 25 | — | -5.7% | ||
| Q1 25 | — | -2.3% | ||
| Q4 24 | — | -1.6% | ||
| Q3 24 | 5.0% | -4.1% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | — | -0.4% |
净利率PSKYSATS
| Q4 25 | — | -31.8% | ||
| Q3 25 | -0.3% | -353.6% | ||
| Q2 25 | — | -8.2% | ||
| Q1 25 | — | -5.2% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | 0.0% | -3.6% | ||
| Q2 24 | — | -5.2% | ||
| Q1 24 | — | -2.7% |
每股收益（稀释后）PSKYSATS
| Q4 25 | — | $-4.27 | ||
| Q3 25 | $-0.01 | $-44.37 | ||
| Q2 25 | $0.00 | $-1.06 | ||
| Q1 25 | $0.00 | $-0.71 | ||
| Q4 24 | — | $1.24 | ||
| Q3 24 | $0.00 | $-0.52 | ||
| Q2 24 | $0.00 | $-0.76 | ||
| Q1 24 | — | $-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 | $3.3B | $3.0B |
| 总债务越低越好 | $13.3B | $18.7B |
| 股东权益账面价值 | $12.0B | $5.8B |
| 总资产 | $43.2B | $43.0B |
| 负债/权益比越低杠杆越低 | 1.11× | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资PSKYSATS
| Q4 25 | — | $3.0B | ||
| Q3 25 | $3.3B | $3.9B | ||
| Q2 25 | — | $4.3B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $5.5B | ||
| Q3 24 | — | $674.4M | ||
| Q2 24 | — | $520.6M | ||
| Q1 24 | — | $766.4M |
总债务PSKYSATS
| Q4 25 | — | $18.7B | ||
| Q3 25 | $13.3B | $21.8B | ||
| Q2 25 | — | $25.4B | ||
| Q1 25 | — | $25.3B | ||
| Q4 24 | — | $25.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $951.0M |
股东权益PSKYSATS
| Q4 25 | — | $5.8B | ||
| Q3 25 | $12.0B | $7.0B | ||
| Q2 25 | $0 | $19.7B | ||
| Q1 25 | $0 | $20.0B | ||
| Q4 24 | — | $20.2B | ||
| Q3 24 | $17.1B | $19.4B | ||
| Q2 24 | $0 | $19.6B | ||
| Q1 24 | — | $19.8B |
总资产PSKYSATS
| Q4 25 | — | $43.0B | ||
| Q3 25 | $43.2B | $45.3B | ||
| Q2 25 | $0 | $59.9B | ||
| Q1 25 | $0 | $60.6B | ||
| Q4 24 | — | $60.9B | ||
| Q3 24 | — | $57.5B | ||
| Q2 24 | — | $55.3B | ||
| Q1 24 | — | $55.6B |
负债/权益比PSKYSATS
| Q4 25 | — | 3.24× | ||
| Q3 25 | 1.11× | 3.13× | ||
| Q2 25 | — | 1.29× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 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 | $268.0M | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $222.0M | $-583.4M |
| 自由现金流率自由现金流/营收 | 5.4% | -15.4% |
| 资本支出强度资本支出/营收 | 1.1% | 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 | — | $-1.1B |
8季度趋势，按日历期对齐
经营现金流PSKYSATS
| Q4 25 | — | $-425.3M | ||
| Q3 25 | $268.0M | $111.7M | ||
| Q2 25 | $0 | $7.5M | ||
| Q1 25 | $0 | $206.8M | ||
| Q4 24 | — | $45.6M | ||
| Q3 24 | — | $276.2M | ||
| Q2 24 | $0 | $479.7M | ||
| Q1 24 | — | $451.3M |
自由现金流PSKYSATS
| Q4 25 | — | $-583.4M | ||
| Q3 25 | $222.0M | $-144.4M | ||
| Q2 25 | — | $-285.7M | ||
| Q1 25 | — | $-51.7M | ||
| Q4 24 | — | $-298.7M | ||
| Q3 24 | — | $-57.5M | ||
| Q2 24 | — | $132.4M | ||
| Q1 24 | — | $-68.4M |
自由现金流率PSKYSATS
| Q4 25 | — | -15.4% | ||
| Q3 25 | 5.4% | -4.0% | ||
| Q2 25 | — | -7.7% | ||
| Q1 25 | — | -1.3% | ||
| Q4 24 | — | -7.5% | ||
| Q3 24 | — | -1.5% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | -1.7% |
资本支出强度PSKYSATS
| Q4 25 | — | 4.2% | ||
| Q3 25 | 1.1% | 7.1% | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | 6.7% | ||
| Q4 24 | — | 8.7% | ||
| Q3 24 | — | 8.6% | ||
| Q2 24 | — | 8.8% | ||
| Q1 24 | — | 12.9% |
现金转化率PSKYSATS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
PSKY
| Affiliate And Subscription | $2.0B | 49% |
| Advertising | $1.3B | 31% |
| Licensing And Other | $775.0M | 19% |
| Related Party | $40.0M | 1% |
| Theatrical | $39.0M | 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% |
