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SIRIUS XM HOLDINGS INC.（SIRI）与惠而浦（WHR）财务数据对比。点击上方公司名可切换其他公司
惠而浦的季度营收约是SIRIUS XM HOLDINGS INC.的1.9倍（$4.1B vs $2.2B），SIRIUS XM HOLDINGS INC.净利率更高（4.5% vs 2.7%，领先1.9%），SIRIUS XM HOLDINGS INC.同比增速更快（0.2% vs -0.9%），惠而浦自由现金流更多（$989.0M vs $536.0M），过去两年SIRIUS XM HOLDINGS INC.的营收复合增速更高（0.7% vs -4.5%）
天狼星XM控股旗下的XM卫星广播是美国及加拿大三大卫星与在线广播服务商之一，采用类似付费有线电视的订阅制模式运营。平台拥有73个音乐频道、39个新闻、体育、访谈及娱乐频道，另设21个区域交通气象频道与23个体育赛事直播频道，服务覆盖北美大量付费用户。
惠而浦是总部位于美国密歇根州本顿特许镇的跨国家电研发、生产及销售企业，位列《财富》世界500强。2023年集团年销售额约190亿美元，全球员工规模近5.9万人，在世界各地布局超55座生产及技术研发中心。
SIRI vs WHR — 直观对比
营收规模更大
WHR
是对方的1.9倍
$2.2B
营收增速更快
SIRI
高出1.1%
-0.9%
净利率更高
SIRI
高出1.9%
2.7%
自由现金流更多
WHR
多$453.0M
$536.0M
两年增速更快
SIRI
近两年复合增速
-4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.2B | $4.1B |
| 净利润 | $99.0M | $109.0M |
| 毛利率 | 53.1% | 14.0% |
| 营业利润率 | 10.3% | 6.0% |
| 净利率 | 4.5% | 2.7% |
| 营收同比 | 0.2% | -0.9% |
| 净利润同比 | -55.4% | 127.8% |
| 每股收益（稀释后） | $0.23 | $1.92 |
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SIRIWHR
| Q4 25 | $2.2B | $4.1B | ||
| Q3 25 | $2.2B | $4.0B | ||
| Q2 25 | $2.1B | $3.8B | ||
| Q1 25 | $2.1B | $3.6B | ||
| Q4 24 | $2.2B | $4.1B | ||
| Q3 24 | $2.2B | $4.0B | ||
| Q2 24 | $2.2B | $4.0B | ||
| Q1 24 | $2.2B | $4.5B |
净利润SIRIWHR
| Q4 25 | $99.0M | $109.0M | ||
| Q3 25 | $297.0M | $73.0M | ||
| Q2 25 | $205.0M | $65.0M | ||
| Q1 25 | $204.0M | $71.0M | ||
| Q4 24 | $222.0M | $-392.0M | ||
| Q3 24 | $-2.5B | $109.0M | ||
| Q2 24 | $304.0M | $219.0M | ||
| Q1 24 | $265.0M | $-259.0M |
毛利率SIRIWHR
| Q4 25 | 53.1% | 14.0% | ||
| Q3 25 | 52.2% | 14.7% | ||
| Q2 25 | 52.4% | 16.2% | ||
| Q1 25 | 52.0% | 16.8% | ||
| Q4 24 | 52.9% | 16.2% | ||
| Q3 24 | 53.2% | 16.1% | ||
| Q2 24 | 53.5% | 15.7% | ||
| Q1 24 | 52.5% | 14.3% |
营业利润率SIRIWHR
| Q4 25 | 10.3% | 6.0% | ||
| Q3 25 | 22.8% | 5.1% | ||
| Q2 25 | 17.1% | 5.4% | ||
| Q1 25 | 18.7% | 5.1% | ||
| Q4 24 | 20.2% | -3.3% | ||
| Q3 24 | -133.6% | 6.6% | ||
| Q2 24 | 23.2% | 3.3% | ||
| Q1 24 | 20.2% | -2.6% |
净利率SIRIWHR
| Q4 25 | 4.5% | 2.7% | ||
| Q3 25 | 13.8% | 1.8% | ||
| Q2 25 | 9.6% | 1.7% | ||
| Q1 25 | 9.9% | 2.0% | ||
| Q4 24 | 10.1% | -9.5% | ||
| Q3 24 | -113.1% | 2.7% | ||
| Q2 24 | 14.0% | 5.5% | ||
| Q1 24 | 12.3% | -5.8% |
每股收益（稀释后）SIRIWHR
| Q4 25 | $0.23 | $1.92 | ||
| Q3 25 | $0.84 | $1.29 | ||
| Q2 25 | $0.57 | $1.17 | ||
| Q1 25 | $0.59 | $1.28 | ||
| Q4 24 | $2.45 | $-7.11 | ||
| Q3 24 | $-8.74 | $2.00 | ||
| Q2 24 | $0.08 | $3.96 | ||
| Q1 24 | $0.07 | $-4.72 |
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 | $94.0M | $669.0M |
| 总债务越低越好 | $8.6B | $6.2B |
| 股东权益账面价值 | $11.6B | $2.7B |
| 总资产 | $27.2B | $16.0B |
| 负债/权益比越低杠杆越低 | 0.75× | 2.26× |
8季度趋势，按日历期对齐
现金及短期投资SIRIWHR
| Q4 25 | $94.0M | $669.0M | ||
| Q3 25 | $79.0M | $934.0M | ||
| Q2 25 | $92.0M | $1.1B | ||
| Q1 25 | $127.0M | $1.0B | ||
| Q4 24 | $162.0M | $1.3B | ||
| Q3 24 | $127.0M | $1.1B | ||
| Q2 24 | $100.0M | $1.2B | ||
| Q1 24 | $71.0M | $1.2B |
总债务SIRIWHR
| Q4 25 | $8.6B | $6.2B | ||
| Q3 25 | $9.0B | — | ||
| Q2 25 | $10.1B | — | ||
| Q1 25 | $10.4B | — | ||
| Q4 24 | $10.3B | $6.6B | ||
| Q3 24 | $10.1B | — | ||
| Q2 24 | $9.0B | — | ||
| Q1 24 | $8.7B | — |
股东权益SIRIWHR
| Q4 25 | $11.6B | $2.7B | ||
| Q3 25 | $11.6B | $2.6B | ||
| Q2 25 | $11.3B | $2.6B | ||
| Q1 25 | $11.2B | $2.6B | ||
| Q4 24 | $11.1B | $2.7B | ||
| Q3 24 | $10.9B | $3.0B | ||
| Q2 24 | $-2.1B | $3.1B | ||
| Q1 24 | $-2.4B | $2.4B |
总资产SIRIWHR
| Q4 25 | $27.2B | $16.0B | ||
| Q3 25 | $27.4B | $16.9B | ||
| Q2 25 | $27.3B | $16.8B | ||
| Q1 25 | $27.4B | $16.5B | ||
| Q4 24 | $27.5B | $16.3B | ||
| Q3 24 | $27.5B | $17.2B | ||
| Q2 24 | $11.2B | $17.3B | ||
| Q1 24 | $11.2B | $17.4B |
负债/权益比SIRIWHR
| Q4 25 | 0.75× | 2.26× | ||
| Q3 25 | 0.78× | — | ||
| Q2 25 | 0.89× | — | ||
| Q1 25 | 0.93× | — | ||
| Q4 24 | 0.93× | 2.46× | ||
| Q3 24 | 0.93× | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $680.0M | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $536.0M | $989.0M |
| 自由现金流率自由现金流/营收 | 24.4% | 24.1% |
| 资本支出强度资本支出/营收 | 6.6% | 3.7% |
| 现金转化率经营现金流/净利润 | 6.87× | 10.45× |
| 过去12个月自由现金流最近4个季度 | $1.2B | $81.0M |
8季度趋势，按日历期对齐
经营现金流SIRIWHR
| Q4 25 | $680.0M | $1.1B | ||
| Q3 25 | $430.0M | $33.0M | ||
| Q2 25 | $546.0M | $19.0M | ||
| Q1 25 | $242.0M | $-721.0M | ||
| Q4 24 | $679.0M | $1.1B | ||
| Q3 24 | $240.0M | $214.0M | ||
| Q2 24 | $514.0M | $388.0M | ||
| Q1 24 | $308.0M | $-873.0M |
自由现金流SIRIWHR
| Q4 25 | $536.0M | $989.0M | ||
| Q3 25 | $255.0M | $-52.0M | ||
| Q2 25 | $401.0M | $-63.0M | ||
| Q1 25 | $53.0M | $-793.0M | ||
| Q4 24 | $514.0M | $970.0M | ||
| Q3 24 | $24.0M | $127.0M | ||
| Q2 24 | $341.0M | $275.0M | ||
| Q1 24 | $134.0M | $-988.0M |
自由现金流率SIRIWHR
| Q4 25 | 24.4% | 24.1% | ||
| Q3 25 | 11.8% | -1.3% | ||
| Q2 25 | 18.8% | -1.7% | ||
| Q1 25 | 2.6% | -21.9% | ||
| Q4 24 | 23.5% | 23.5% | ||
| Q3 24 | 1.1% | 3.2% | ||
| Q2 24 | 15.7% | 6.9% | ||
| Q1 24 | 6.2% | -22.0% |
资本支出强度SIRIWHR
| Q4 25 | 6.6% | 3.7% | ||
| Q3 25 | 8.1% | 2.1% | ||
| Q2 25 | 6.8% | 2.2% | ||
| Q1 25 | 9.1% | 2.0% | ||
| Q4 24 | 7.5% | 3.3% | ||
| Q3 24 | 9.9% | 2.2% | ||
| Q2 24 | 7.9% | 2.8% | ||
| Q1 24 | 8.0% | 2.6% |
现金转化率SIRIWHR
| Q4 25 | 6.87× | 10.45× | ||
| Q3 25 | 1.45× | 0.45× | ||
| Q2 25 | 2.66× | 0.29× | ||
| Q1 25 | 1.19× | -10.15× | ||
| Q4 24 | 3.06× | — | ||
| Q3 24 | — | 1.96× | ||
| Q2 24 | 1.69× | 1.77× | ||
| Q1 24 | 1.16× | — |
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
SIRI
| Subscription And Circulation | $1.6B | 74% |
| Advertising | $491.0M | 22% |
| Cost Of Sales Equipment Products And Services | $48.0M | 2% |
| Other Revenue | $28.0M | 1% |
WHR
| Refrigeration | $1.2B | 30% |
| Laundry | $1.1B | 27% |
| Cooking | $1.1B | 26% |
| Dishwashing | $299.0M | 7% |
| Other | $266.0M | 6% |
| Spare Parts And Warranties | $139.0M | 3% |
