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EchoStar CORP（SATS）与史丹利百得（SWK）财务数据对比。点击上方公司名可切换其他公司
EchoStar CORP的季度营收约是史丹利百得的1.0倍（$3.8B vs $3.8B），史丹利百得净利率更高（1.4% vs -31.8%，领先33.2%），史丹利百得同比增速更快（0.1% vs -4.3%），史丹利百得自由现金流更多（$155.3M vs $-583.4M），过去两年史丹利百得的营收复合增速更高（0.3% 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。
史丹利百得是美国知名的工业工具、家用五金产品制造商，同时提供安防类产品，前身为史丹利工具有限公司，由史丹利与百得于2010年3月12日合并而来，总部位于康涅狄格州大哈特福德地区的新不列颠市。
SATS vs SWK — 直观对比
营收规模更大
SATS
是对方的1.0倍
$3.8B
营收增速更快
SWK
高出4.4%
-4.3%
净利率更高
SWK
高出33.2%
-31.8%
自由现金流更多
SWK
多$738.7M
$-583.4M
两年增速更快
SWK
近两年复合增速
-2.8%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.8B | $3.8B |
| 净利润 | $-1.2B | $51.4M |
| 毛利率 | — | 31.4% |
| 营业利润率 | -20.5% | — |
| 净利率 | -31.8% | 1.4% |
| 营收同比 | -4.3% | 0.1% |
| 净利润同比 | -460.1% | -43.6% |
| 每股收益（稀释后） | $-4.27 | $0.34 |
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SATSSWK
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.6B | $3.8B | ||
| Q2 25 | $3.7B | $3.9B | ||
| Q1 25 | $3.9B | $3.7B | ||
| Q4 24 | $4.0B | $3.7B | ||
| Q3 24 | $3.9B | $3.8B | ||
| Q2 24 | $4.0B | $4.0B | ||
| Q1 24 | $4.0B | $3.9B |
净利润SATSSWK
| Q4 25 | $-1.2B | — | ||
| Q3 25 | $-12.8B | $51.4M | ||
| Q2 25 | $-306.1M | $101.9M | ||
| Q1 25 | $-202.7M | $90.4M | ||
| Q4 24 | $335.2M | $194.9M | ||
| Q3 24 | $-141.8M | $91.1M | ||
| Q2 24 | $-205.6M | $-11.2M | ||
| Q1 24 | $-107.4M | $19.5M |
毛利率SATSSWK
| Q4 25 | — | — | ||
| Q3 25 | — | 31.4% | ||
| Q2 25 | — | 27.0% | ||
| Q1 25 | — | 29.9% | ||
| Q4 24 | — | 30.8% | ||
| Q3 24 | — | 29.9% | ||
| Q2 24 | — | 28.4% | ||
| Q1 24 | — | 28.6% |
营业利润率SATSSWK
| Q4 25 | -20.5% | — | ||
| Q3 25 | -460.5% | — | ||
| Q2 25 | -5.7% | — | ||
| Q1 25 | -2.3% | — | ||
| Q4 24 | -1.6% | 3.4% | ||
| Q3 24 | -4.1% | 10.6% | ||
| Q2 24 | -1.7% | 9.5% | ||
| Q1 24 | -0.4% | 8.3% |
净利率SATSSWK
| Q4 25 | -31.8% | — | ||
| Q3 25 | -353.6% | 1.4% | ||
| Q2 25 | -8.2% | 2.6% | ||
| Q1 25 | -5.2% | 2.4% | ||
| Q4 24 | 8.5% | 5.2% | ||
| Q3 24 | -3.6% | 2.4% | ||
| Q2 24 | -5.2% | -0.3% | ||
| Q1 24 | -2.7% | 0.5% |
每股收益（稀释后）SATSSWK
| Q4 25 | $-4.27 | — | ||
| Q3 25 | $-44.37 | $0.34 | ||
| Q2 25 | $-1.06 | $0.67 | ||
| Q1 25 | $-0.71 | $0.60 | ||
| Q4 24 | $1.24 | $1.29 | ||
| Q3 24 | $-0.52 | $0.60 | ||
| Q2 24 | $-0.76 | $-0.07 | ||
| Q1 24 | $-0.40 | $0.13 |
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 | $268.3M |
| 总债务越低越好 | $18.7B | $5.3B |
| 股东权益账面价值 | $5.8B | $9.0B |
| 总资产 | $43.0B | $21.8B |
| 负债/权益比越低杠杆越低 | 3.24× | 0.59× |
8季度趋势，按日历期对齐
现金及短期投资SATSSWK
| Q4 25 | $3.0B | — | ||
| Q3 25 | $3.9B | $268.3M | ||
| Q2 25 | $4.3B | $311.8M | ||
| Q1 25 | $5.1B | $344.8M | ||
| Q4 24 | $5.5B | $290.5M | ||
| Q3 24 | $674.4M | $298.7M | ||
| Q2 24 | $520.6M | $318.5M | ||
| Q1 24 | $766.4M | $476.6M |
总债务SATSSWK
| Q4 25 | $18.7B | — | ||
| Q3 25 | $21.8B | $5.3B | ||
| Q2 25 | $25.4B | $5.6B | ||
| Q1 25 | $25.3B | $5.6B | ||
| Q4 24 | $25.7B | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B | ||
| Q1 24 | $951.0M | $6.1B |
股东权益SATSSWK
| Q4 25 | $5.8B | — | ||
| Q3 25 | $7.0B | $9.0B | ||
| Q2 25 | $19.7B | $9.1B | ||
| Q1 25 | $20.0B | $8.8B | ||
| Q4 24 | $20.2B | $8.7B | ||
| Q3 24 | $19.4B | $8.9B | ||
| Q2 24 | $19.6B | $8.7B | ||
| Q1 24 | $19.8B | $8.9B |
总资产SATSSWK
| Q4 25 | $43.0B | — | ||
| Q3 25 | $45.3B | $21.8B | ||
| Q2 25 | $59.9B | $22.5B | ||
| Q1 25 | $60.6B | $22.5B | ||
| Q4 24 | $60.9B | $21.8B | ||
| Q3 24 | $57.5B | $22.5B | ||
| Q2 24 | $55.3B | $22.5B | ||
| Q1 24 | $55.6B | $23.9B |
负债/权益比SATSSWK
| Q4 25 | 3.24× | — | ||
| Q3 25 | 3.13× | 0.59× | ||
| Q2 25 | 1.29× | 0.62× | ||
| Q1 25 | 1.27× | 0.63× | ||
| Q4 24 | 1.27× | 0.70× | ||
| Q3 24 | — | 0.69× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | 0.05× | 0.69× |
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 | $221.2M |
| 自由现金流经营现金流 - 资本支出 | $-583.4M | $155.3M |
| 自由现金流率自由现金流/营收 | -15.4% | 4.1% |
| 资本支出强度资本支出/营收 | 4.2% | 1.8% |
| 现金转化率经营现金流/净利润 | — | 4.30× |
| 过去12个月自由现金流最近4个季度 | $-1.1B | $369.6M |
8季度趋势，按日历期对齐
经营现金流SATSSWK
| Q4 25 | $-425.3M | — | ||
| Q3 25 | $111.7M | $221.2M | ||
| Q2 25 | $7.5M | $214.3M | ||
| Q1 25 | $206.8M | $-420.0M | ||
| Q4 24 | $45.6M | $679.1M | ||
| Q3 24 | $276.2M | $285.8M | ||
| Q2 24 | $479.7M | $573.0M | ||
| Q1 24 | $451.3M | $-431.0M |
自由现金流SATSSWK
| Q4 25 | $-583.4M | — | ||
| Q3 25 | $-144.4M | $155.3M | ||
| Q2 25 | $-285.7M | $134.7M | ||
| Q1 25 | $-51.7M | $-485.0M | ||
| Q4 24 | $-298.7M | $564.6M | ||
| Q3 24 | $-57.5M | $199.3M | ||
| Q2 24 | $132.4M | $485.8M | ||
| Q1 24 | $-68.4M | $-496.7M |
自由现金流率SATSSWK
| Q4 25 | -15.4% | — | ||
| Q3 25 | -4.0% | 4.1% | ||
| Q2 25 | -7.7% | 3.4% | ||
| Q1 25 | -1.3% | -13.0% | ||
| Q4 24 | -7.5% | 15.2% | ||
| Q3 24 | -1.5% | 5.3% | ||
| Q2 24 | 3.3% | 12.1% | ||
| Q1 24 | -1.7% | -12.8% |
资本支出强度SATSSWK
| Q4 25 | 4.2% | — | ||
| Q3 25 | 7.1% | 1.8% | ||
| Q2 25 | 7.9% | 2.0% | ||
| Q1 25 | 6.7% | 1.7% | ||
| Q4 24 | 8.7% | 3.1% | ||
| Q3 24 | 8.6% | 2.3% | ||
| Q2 24 | 8.8% | 2.2% | ||
| Q1 24 | 12.9% | 1.7% |
现金转化率SATSSWK
| Q4 25 | — | — | ||
| Q3 25 | — | 4.30× | ||
| Q2 25 | — | 2.10× | ||
| Q1 25 | — | -4.65× | ||
| Q4 24 | 0.14× | 3.48× | ||
| Q3 24 | — | 3.14× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -22.10× |
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% |
SWK
| Tools And Outdoor Segment | $3.3B | 87% |
| Engineered Fastening Segment | $500.5M | 13% |
