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TKO Group Holdings（TKO）与微博公司（WB）财务数据对比。点击上方公司名可切换其他公司
微博公司的季度营收约是TKO Group Holdings的1.2倍（$1.3B vs $1.0B），微博公司净利率更高（35.7% vs -0.2%，领先35.9%），过去两年TKO Group Holdings的营收复合增速更高（28.4% vs 22.6%）
TKO Group Holdings是美国体育及体育娱乐上市企业，成立于2023年9月12日，由奋进集团（Endeavor）子公司、终极格斗冠军赛（UFC）母公司Zuffa与职业摔跤品牌世界摔角娱乐（WWE）合并组建，主营综合格斗、职业摔跤赛事运营及相关娱乐内容业务。
微博公司是中国知名的社交网络企业，旗下运营的新浪微博是国内极具影响力的微博客平台，公司总部位于中国北京，为数以亿计的用户提供社交互动、资讯传播、内容创作等多元互联网服务。
TKO vs WB — 直观对比
营收规模更大
WB
是对方的1.2倍
$1.0B
净利率更高
WB
高出35.9%
-0.2%
两年增速更快
TKO
近两年复合增速
22.6%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.3B |
| 净利润 | $-2.4M | $458.3M |
| 毛利率 | — | — |
| 营业利润率 | 5.5% | 29.1% |
| 净利率 | -0.2% | 35.7% |
| 营收同比 | 61.6% | — |
| 净利润同比 | -107.7% | — |
| 每股收益（稀释后） | $-0.07 | — |
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TKOWB
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $1.3B | $841.7M | ||
| Q1 25 | $1.3B | $396.9M | ||
| Q4 24 | $642.2M | — | ||
| Q3 24 | $681.3M | $1.3B | ||
| Q2 24 | $851.2M | $833.4M | ||
| Q1 24 | $629.7M | $395.5M |
净利润TKOWB
| Q4 25 | $-2.4M | — | ||
| Q3 25 | $41.0M | $458.3M | ||
| Q2 25 | $98.4M | $234.8M | ||
| Q1 25 | $58.4M | $108.1M | ||
| Q4 24 | $31.0M | — | ||
| Q3 24 | $23.1M | $297.4M | ||
| Q2 24 | $59.1M | $164.6M | ||
| Q1 24 | $-103.8M | $51.1M |
营业利润率TKOWB
| Q4 25 | 5.5% | — | ||
| Q3 25 | 15.4% | 29.1% | ||
| Q2 25 | 28.1% | 30.4% | ||
| Q1 25 | 18.7% | 27.8% | ||
| Q4 24 | 15.9% | — | ||
| Q3 24 | 20.0% | 29.0% | ||
| Q2 24 | 30.0% | 28.2% | ||
| Q1 24 | -33.4% | 25.2% |
净利率TKOWB
| Q4 25 | -0.2% | — | ||
| Q3 25 | 3.7% | 35.7% | ||
| Q2 25 | 7.5% | 27.9% | ||
| Q1 25 | 4.6% | 27.2% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 3.4% | 22.9% | ||
| Q2 24 | 6.9% | 19.8% | ||
| Q1 24 | -16.5% | 12.9% |
每股收益（稀释后）TKOWB
| Q4 25 | $-0.07 | — | ||
| Q3 25 | $0.47 | — | ||
| Q2 25 | $1.17 | — | ||
| Q1 25 | $0.69 | — | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $0.28 | — | ||
| Q2 24 | $0.72 | — | ||
| Q1 24 | $-1.26 | — |
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 | $831.1M | $1.1B |
| 总债务越低越好 | $3.8B | — |
| 股东权益账面价值 | $3.7B | $3.9B |
| 总资产 | $15.5B | $6.9B |
| 负债/权益比越低杠杆越低 | 1.01× | — |
8季度趋势，按日历期对齐
现金及短期投资TKOWB
| Q4 25 | $831.1M | — | ||
| Q3 25 | $861.4M | $1.1B | ||
| Q2 25 | $535.1M | $1.2B | ||
| Q1 25 | $470.9M | $1.2B | ||
| Q4 24 | $525.6M | — | ||
| Q3 24 | $457.4M | — | ||
| Q2 24 | $277.5M | $1.9B | ||
| Q1 24 | $245.8M | $2.1B |
总债务TKOWB
| Q4 25 | $3.8B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $2.7B | — | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $2.7B | — |
股东权益TKOWB
| Q4 25 | $3.7B | — | ||
| Q3 25 | $3.8B | $3.9B | ||
| Q2 25 | $4.3B | $3.6B | ||
| Q1 25 | $4.2B | $3.5B | ||
| Q4 24 | $4.1B | — | ||
| Q3 24 | $4.0B | — | ||
| Q2 24 | $4.0B | $3.4B | ||
| Q1 24 | $4.0B | $3.3B |
总资产TKOWB
| Q4 25 | $15.5B | — | ||
| Q3 25 | $15.5B | $6.9B | ||
| Q2 25 | $15.3B | $6.5B | ||
| Q1 25 | $15.0B | $6.7B | ||
| Q4 24 | $12.7B | — | ||
| Q3 24 | $12.8B | — | ||
| Q2 24 | $12.7B | $7.1B | ||
| Q1 24 | $12.7B | $7.3B |
负债/权益比TKOWB
| Q4 25 | 1.01× | — | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 0.64× | — | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 0.67× | — | ||
| Q3 24 | 0.67× | — | ||
| Q2 24 | 0.68× | — | ||
| Q1 24 | 0.68× | — |
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 | $309.9M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流TKOWB
| Q4 25 | $309.9M | — | ||
| Q3 25 | $416.8M | — | ||
| Q2 25 | $396.2M | — | ||
| Q1 25 | $162.8M | — | ||
| Q4 24 | $56.8M | — | ||
| Q3 24 | $236.5M | — | ||
| Q2 24 | $230.7M | — | ||
| Q1 24 | $59.3M | — |
现金转化率TKOWB
| Q4 25 | — | — | ||
| Q3 25 | 10.16× | — | ||
| Q2 25 | 4.03× | — | ||
| Q1 25 | 2.79× | — | ||
| Q4 24 | 1.83× | — | ||
| Q3 24 | 10.22× | — | ||
| Q2 24 | 3.90× | — | ||
| 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
TKO
| World Wrestling Entertainment Segment | $359.6M | 35% |
| IMG Segment | $247.6M | 24% |
| Media Rights Production And Content | $222.6M | 21% |
| Partnerships And Marketing | $93.3M | 9% |
| Live Events And Hospitality | $72.2M | 7% |
| Other | $29.4M | 3% |
| Consumer Products Licensing And Other | $13.2M | 1% |
WB
| Income from operations | $373.2M | 29% |
| Shares used in computing diluted net income per share attributable to Weibos shareholders | $268.1M | 21% |
| Shares used in computing basic net income per share attributable to Weibos shareholders | $238.6M | 19% |
| Value-added services | $186.1M | 14% |
| Less: Income tax expenses | $113.2M | 9% |
| Investment related income, net | $45.0M | 4% |
| Product development | $16.7M | 1% |
| General and administrative | $10.6M | 1% |
| Sales and marketing | $7.1M | 1% |
| Accretion to redeemable non-controlling interests | $3.0M | 0% |
