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EchoStar CORP（SATS）与Smurfit Westrock（SW）财务数据对比。点击上方公司名可切换其他公司
Smurfit Westrock的季度营收约是EchoStar CORP的2.0倍（$7.7B vs $3.8B），Smurfit Westrock净利率更高（0.8% vs -31.8%，领先32.6%），Smurfit Westrock同比增速更快（0.7% vs -4.3%），过去两年Smurfit Westrock的营收复合增速更高（61.2% vs -2.8%）
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。
Smurfit Westrock plc是总部位于爱尔兰都柏林的企业，核心业务为生产瓦楞包装及各类纸制包装产品，公司股票同时在纽约证券交易所和伦敦证券交易所挂牌上市。
SATS vs SW — 直观对比
营收规模更大
SW
是对方的2.0倍
$3.8B
营收增速更快
SW
高出5.0%
-4.3%
净利率更高
SW
高出32.6%
-31.8%
两年增速更快
SW
近两年复合增速
-2.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $7.7B |
| 净利润 | $-1.2B | $63.0M |
| 毛利率 | — | 16.4% |
| 营业利润率 | -20.5% | 3.3% |
| 净利率 | -31.8% | 0.8% |
| 营收同比 | -4.3% | 0.7% |
| 净利润同比 | -460.1% | 0.0% |
| 每股收益（稀释后） | $-4.27 | $0.12 |
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SATSSW
| Q1 26 | — | $7.7B | ||
| Q4 25 | $3.8B | $7.6B | ||
| Q3 25 | $3.6B | $8.0B | ||
| Q2 25 | $3.7B | $7.9B | ||
| Q1 25 | $3.9B | $7.7B | ||
| Q4 24 | $4.0B | $7.5B | ||
| Q3 24 | $3.9B | $7.7B | ||
| Q2 24 | $4.0B | $3.0B |
净利润SATSSW
| Q1 26 | — | $63.0M | ||
| Q4 25 | $-1.2B | $97.0M | ||
| Q3 25 | $-12.8B | $246.0M | ||
| Q2 25 | $-306.1M | $-28.0M | ||
| Q1 25 | $-202.7M | $384.0M | ||
| Q4 24 | $335.2M | $146.0M | ||
| Q3 24 | $-141.8M | $-150.0M | ||
| Q2 24 | $-205.6M | $132.0M |
毛利率SATSSW
| Q1 26 | — | 16.4% | ||
| Q4 25 | — | 18.2% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 20.6% | ||
| Q4 24 | — | 19.1% | ||
| Q3 24 | — | 17.6% | ||
| Q2 24 | — | 23.3% |
营业利润率SATSSW
| Q1 26 | — | 3.3% | ||
| Q4 25 | -20.5% | 5.1% | ||
| Q3 25 | -460.5% | 6.6% | ||
| Q2 25 | -5.7% | 3.2% | ||
| Q1 25 | -2.3% | 7.2% | ||
| Q4 24 | -1.6% | 5.3% | ||
| Q3 24 | -4.1% | 0.7% | ||
| Q2 24 | -1.7% | 8.2% |
净利率SATSSW
| Q1 26 | — | 0.8% | ||
| Q4 25 | -31.8% | 1.3% | ||
| Q3 25 | -353.6% | 3.1% | ||
| Q2 25 | -8.2% | -0.4% | ||
| Q1 25 | -5.2% | 5.0% | ||
| Q4 24 | 8.5% | 1.9% | ||
| Q3 24 | -3.6% | -2.0% | ||
| Q2 24 | -5.2% | 4.4% |
每股收益（稀释后）SATSSW
| Q1 26 | — | $0.12 | ||
| Q4 25 | $-4.27 | $0.18 | ||
| Q3 25 | $-44.37 | $0.47 | ||
| Q2 25 | $-1.06 | $-0.05 | ||
| Q1 25 | $-0.71 | $0.73 | ||
| Q4 24 | $1.24 | $-0.12 | ||
| Q3 24 | $-0.52 | $-0.30 | ||
| Q2 24 | $-0.76 | $0.51 |
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 | $3.0B | — |
| 总债务越低越好 | $18.7B | $980.0M |
| 股东权益账面价值 | $5.8B | $18.1B |
| 总资产 | $43.0B | $45.2B |
| 负债/权益比越低杠杆越低 | 3.24× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资SATSSW
| Q1 26 | — | — | ||
| Q4 25 | $3.0B | $892.0M | ||
| Q3 25 | $3.9B | $851.0M | ||
| Q2 25 | $4.3B | $778.0M | ||
| Q1 25 | $5.1B | $797.0M | ||
| Q4 24 | $5.5B | $855.0M | ||
| Q3 24 | $674.4M | — | ||
| Q2 24 | $520.6M | $26.8K |
总债务SATSSW
| Q1 26 | — | $980.0M | ||
| Q4 25 | $18.7B | $13.4B | ||
| Q3 25 | $21.8B | $13.3B | ||
| Q2 25 | $25.4B | $13.3B | ||
| Q1 25 | $25.3B | $12.9B | ||
| Q4 24 | $25.7B | $12.5B | ||
| Q3 24 | — | $13.2B | ||
| Q2 24 | — | — |
股东权益SATSSW
| Q1 26 | — | $18.1B | ||
| Q4 25 | $5.8B | $18.3B | ||
| Q3 25 | $7.0B | $18.4B | ||
| Q2 25 | $19.7B | $18.3B | ||
| Q1 25 | $20.0B | $17.9B | ||
| Q4 24 | $20.2B | $17.4B | ||
| Q3 24 | $19.4B | $18.0B | ||
| Q2 24 | $19.6B | $14.5K |
总资产SATSSW
| Q1 26 | — | $45.2B | ||
| Q4 25 | $43.0B | $45.2B | ||
| Q3 25 | $45.3B | $45.6B | ||
| Q2 25 | $59.9B | $45.7B | ||
| Q1 25 | $60.6B | $44.6B | ||
| Q4 24 | $60.9B | $43.8B | ||
| Q3 24 | $57.5B | $45.0B | ||
| Q2 24 | $55.3B | $26.8K |
负债/权益比SATSSW
| Q1 26 | — | 0.05× | ||
| Q4 25 | 3.24× | 0.73× | ||
| Q3 25 | 3.13× | 0.72× | ||
| Q2 25 | 1.29× | 0.73× | ||
| Q1 25 | 1.27× | 0.72× | ||
| Q4 24 | 1.27× | 0.72× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | — |
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 | $204.0M |
| 自由现金流经营现金流 - 资本支出 | $-583.4M | — |
| 自由现金流率自由现金流/营收 | -15.4% | — |
| 资本支出强度资本支出/营收 | 4.2% | — |
| 现金转化率经营现金流/净利润 | — | 3.24× |
| 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SATSSW
| Q1 26 | — | $204.0M | ||
| Q4 25 | $-425.3M | $1.2B | ||
| Q3 25 | $111.7M | $1.1B | ||
| Q2 25 | $7.5M | $829.0M | ||
| Q1 25 | $206.8M | $235.0M | ||
| Q4 24 | $45.6M | $781.0M | ||
| Q3 24 | $276.2M | $320.0M | ||
| Q2 24 | $479.7M | $340.0M |
自由现金流SATSSW
| Q1 26 | — | — | ||
| Q4 25 | $-583.4M | $612.0M | ||
| Q3 25 | $-144.4M | $523.0M | ||
| Q2 25 | $-285.7M | $307.0M | ||
| Q1 25 | $-51.7M | $-242.0M | ||
| Q4 24 | $-298.7M | $212.0M | ||
| Q3 24 | $-57.5M | $-192.0M | ||
| Q2 24 | $132.4M | $163.0M |
自由现金流率SATSSW
| Q1 26 | — | — | ||
| Q4 25 | -15.4% | 8.1% | ||
| Q3 25 | -4.0% | 6.5% | ||
| Q2 25 | -7.7% | 3.9% | ||
| Q1 25 | -1.3% | -3.2% | ||
| Q4 24 | -7.5% | 2.8% | ||
| Q3 24 | -1.5% | -2.5% | ||
| Q2 24 | 3.3% | 5.5% |
资本支出强度SATSSW
| Q1 26 | — | — | ||
| Q4 25 | 4.2% | 7.7% | ||
| Q3 25 | 7.1% | 7.6% | ||
| Q2 25 | 7.9% | 6.6% | ||
| Q1 25 | 6.7% | 6.2% | ||
| Q4 24 | 8.7% | 7.5% | ||
| Q3 24 | 8.6% | 6.7% | ||
| Q2 24 | 8.8% | 6.0% |
现金转化率SATSSW
| Q1 26 | — | 3.24× | ||
| Q4 25 | — | 12.32× | ||
| Q3 25 | — | 4.61× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | 0.14× | 5.35× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.58× |
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
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% |
SW
暂无分部数据
