vs
null（SWIM）与Townsquare Media, Inc.（TSQ）财务数据对比。点击上方公司名可切换其他公司
Townsquare Media, Inc.的季度营收约是null的1.1倍（$106.5M vs $100.0M），Townsquare Media, Inc.净利率更高（-4.9% vs -7.0%，领先2.1%），null同比增速更快（14.5% vs -9.6%），null自由现金流更多（$14.1M vs $9.2M），过去两年Townsquare Media, Inc.的营收复合增速更高（3.4% vs -4.9%）
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
Townsquare Media是总部位于美国纽约州帕切斯的广播电台网络与传媒企业，该公司起步于广播业务，在2000年代末通过收购MOG音乐网络，逐步拓展数字媒体业务。截至2024年6月，Townsquare Media是美国第三大调幅调频广播运营商，在全国74个市场共拥有349家电台。
SWIM vs TSQ — 直观对比
营收规模更大
TSQ
是对方的1.1倍
$100.0M
营收增速更快
SWIM
高出24.1%
-9.6%
净利率更高
TSQ
高出2.1%
-7.0%
自由现金流更多
SWIM
多$4.9M
$9.2M
两年增速更快
TSQ
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $100.0M | $106.5M |
| 净利润 | $-7.0M | $-5.2M |
| 毛利率 | 28.0% | 24.1% |
| 营业利润率 | -10.7% | 9.5% |
| 净利率 | -7.0% | -4.9% |
| 营收同比 | 14.5% | -9.6% |
| 净利润同比 | 76.0% | -121.2% |
| 每股收益（稀释后） | $-0.06 | — |
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SWIMTSQ
| Q4 25 | $100.0M | $106.5M | ||
| Q3 25 | $161.9M | $106.8M | ||
| Q2 25 | $172.6M | $115.4M | ||
| Q1 25 | $111.4M | $98.7M | ||
| Q4 24 | $87.3M | $117.8M | ||
| Q3 24 | $150.5M | $115.3M | ||
| Q2 24 | $160.1M | $118.2M | ||
| Q1 24 | $110.6M | $99.6M |
净利润SWIMTSQ
| Q4 25 | $-7.0M | $-5.2M | ||
| Q3 25 | $8.1M | $-5.9M | ||
| Q2 25 | $16.0M | $1.6M | ||
| Q1 25 | $-6.0M | $-2.0M | ||
| Q4 24 | $-29.2M | $24.6M | ||
| Q3 24 | $5.9M | $10.8M | ||
| Q2 24 | $13.3M | $-49.2M | ||
| Q1 24 | $-7.9M | $1.1M |
毛利率SWIMTSQ
| Q4 25 | 28.0% | 24.1% | ||
| Q3 25 | 35.4% | 26.2% | ||
| Q2 25 | 37.1% | 28.3% | ||
| Q1 25 | 29.5% | 23.2% | ||
| Q4 24 | 24.6% | 31.6% | ||
| Q3 24 | 32.4% | 27.3% | ||
| Q2 24 | 33.1% | 27.7% | ||
| Q1 24 | 27.7% | 22.8% |
营业利润率SWIMTSQ
| Q4 25 | -10.7% | 9.5% | ||
| Q3 25 | 13.3% | 5.6% | ||
| Q2 25 | 14.3% | 18.2% | ||
| Q1 25 | -4.4% | 7.2% | ||
| Q4 24 | -14.9% | 18.1% | ||
| Q3 24 | 8.9% | 13.1% | ||
| Q2 24 | 12.5% | -18.1% | ||
| Q1 24 | -1.9% | 6.7% |
净利率SWIMTSQ
| Q4 25 | -7.0% | -4.9% | ||
| Q3 25 | 5.0% | -5.5% | ||
| Q2 25 | 9.3% | 1.4% | ||
| Q1 25 | -5.4% | -2.0% | ||
| Q4 24 | -33.4% | 20.8% | ||
| Q3 24 | 3.9% | 9.4% | ||
| Q2 24 | 8.3% | -41.7% | ||
| Q1 24 | -7.1% | 1.1% |
每股收益（稀释后）SWIMTSQ
| Q4 25 | $-0.06 | — | ||
| Q3 25 | $0.07 | $-0.36 | ||
| Q2 25 | $0.13 | $0.09 | ||
| Q1 25 | $-0.05 | $-0.12 | ||
| Q4 24 | $-0.24 | $1.76 | ||
| Q3 24 | $0.05 | $0.63 | ||
| Q2 24 | $0.11 | $-3.26 | ||
| Q1 24 | $-0.07 | $0.06 |
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 | — | $4.8M |
| 总债务越低越好 | $279.8M | $433.0M |
| 股东权益账面价值 | $405.9M | $-41.0M |
| 总资产 | $823.2M | $528.6M |
| 负债/权益比越低杠杆越低 | 0.69× | — |
8季度趋势，按日历期对齐
现金及短期投资SWIMTSQ
| Q4 25 | — | $4.8M | ||
| Q3 25 | — | $3.2M | ||
| Q2 25 | — | $3.2M | ||
| Q1 25 | — | $5.5M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $21.8M | ||
| Q2 24 | — | $28.5M | ||
| Q1 24 | — | $56.6M |
总债务SWIMTSQ
| Q4 25 | $279.8M | $433.0M | ||
| Q3 25 | $281.1M | $437.6M | ||
| Q2 25 | $281.5M | $439.7M | ||
| Q1 25 | $306.9M | $448.4M | ||
| Q4 24 | $281.5M | $465.8M | ||
| Q3 24 | $282.8M | $476.7M | ||
| Q2 24 | $282.4M | $487.1M | ||
| Q1 24 | $282.8M | $500.1M |
股东权益SWIMTSQ
| Q4 25 | $405.9M | $-41.0M | ||
| Q3 25 | $408.4M | $-34.0M | ||
| Q2 25 | $398.4M | $-27.1M | ||
| Q1 25 | $381.1M | $-26.8M | ||
| Q4 24 | $387.2M | $-28.4M | ||
| Q3 24 | $416.6M | $-52.5M | ||
| Q2 24 | $408.1M | $-64.1M | ||
| Q1 24 | $391.8M | $1.8M |
总资产SWIMTSQ
| Q4 25 | $823.2M | $528.6M | ||
| Q3 25 | $844.4M | $539.2M | ||
| Q2 25 | $822.1M | $545.7M | ||
| Q1 25 | $824.6M | $544.5M | ||
| Q4 24 | $794.2M | $580.4M | ||
| Q3 24 | $853.4M | $565.4M | ||
| Q2 24 | $830.0M | $579.6M | ||
| Q1 24 | $808.6M | $636.7M |
负债/权益比SWIMTSQ
| Q4 25 | 0.69× | — | ||
| Q3 25 | 0.69× | — | ||
| Q2 25 | 0.71× | — | ||
| Q1 25 | 0.81× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.69× | — | ||
| Q1 24 | 0.72× | 271.80× |
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 | $23.3M | $12.6M |
| 自由现金流经营现金流 - 资本支出 | $14.1M | $9.2M |
| 自由现金流率自由现金流/营收 | 14.1% | 8.6% |
| 资本支出强度资本支出/营收 | 9.2% | 3.2% |
| 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 | $38.0M | $15.4M |
8季度趋势，按日历期对齐
经营现金流SWIMTSQ
| Q4 25 | $23.3M | $12.6M | ||
| Q3 25 | $51.0M | $7.9M | ||
| Q2 25 | $36.0M | $10.2M | ||
| Q1 25 | $-46.9M | $-66.0K | ||
| Q4 24 | $6.2M | $28.2M | ||
| Q3 24 | $37.2M | $9.9M | ||
| Q2 24 | $52.4M | $9.0M | ||
| Q1 24 | $-34.5M | $1.7M |
自由现金流SWIMTSQ
| Q4 25 | $14.1M | $9.2M | ||
| Q3 25 | $45.2M | $4.3M | ||
| Q2 25 | $29.1M | $6.4M | ||
| Q1 25 | $-50.3M | $-4.5M | ||
| Q4 24 | $-98.0K | $24.5M | ||
| Q3 24 | $33.2M | $4.8M | ||
| Q2 24 | $47.9M | $4.8M | ||
| Q1 24 | $-39.9M | $-2.8M |
自由现金流率SWIMTSQ
| Q4 25 | 14.1% | 8.6% | ||
| Q3 25 | 27.9% | 4.1% | ||
| Q2 25 | 16.8% | 5.5% | ||
| Q1 25 | -45.2% | -4.6% | ||
| Q4 24 | -0.1% | 20.8% | ||
| Q3 24 | 22.1% | 4.1% | ||
| Q2 24 | 29.9% | 4.0% | ||
| Q1 24 | -36.0% | -2.8% |
资本支出强度SWIMTSQ
| Q4 25 | 9.2% | 3.2% | ||
| Q3 25 | 3.6% | 3.3% | ||
| Q2 25 | 4.0% | 3.3% | ||
| Q1 25 | 3.1% | 4.5% | ||
| Q4 24 | 7.2% | 3.1% | ||
| Q3 24 | 2.7% | 4.4% | ||
| Q2 24 | 2.8% | 3.6% | ||
| Q1 24 | 4.8% | 4.4% |
现金转化率SWIMTSQ
| Q4 25 | — | — | ||
| Q3 25 | 6.29× | — | ||
| Q2 25 | 2.25× | 6.51× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | 6.32× | 0.91× | ||
| Q2 24 | 3.95× | — | ||
| Q1 24 | — | 1.47× |
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
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
TSQ
| Broadcast Advertising Segment | $46.4M | 44% |
| Digital Advertising Segment | $41.7M | 39% |
| Subscription Digital Marketing Solutions Segment | $18.4M | 17% |
