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亚玛芬体育（AS）与PINTEREST, INC.（PINS）财务数据对比。点击上方公司名可切换其他公司
PINTEREST, INC.的季度营收约是亚玛芬体育的1.3倍（$1.3B vs $1.1B），PINTEREST, INC.净利率更高（21.0% vs 1.8%，领先19.2%），PINTEREST, INC.自由现金流更多（$380.4M vs $92.2M）
亚玛芬体育是芬兰跨国运动装备企业，总部位于赫尔辛基，成立于1950年。早年为涉足烟草贸易、航运、出版等领域的多元化工业集团，后逐步转型专注于体育用品的生产与营销，现有员工超9700人，2018年起成为中国安踏体育旗下子公司。
Pinterest是美国社交媒体服务商，主打数字图板形式的信息发布与发现功能，用户可通过图片分享获取食谱、家居、穿搭、创意灵感等多元内容。公司由本·西尔伯曼、保罗·夏拉、埃文·夏普联合创立，总部位于旧金山。
AS vs PINS — 直观对比
营收规模更大
PINS
是对方的1.3倍
$1.1B
净利率更高
PINS
高出19.2%
1.8%
自由现金流更多
PINS
多$288.2M
$92.2M
损益表 — Q1 FY2024 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.3B |
| 净利润 | $19.0M | $277.1M |
| 毛利率 | 52.8% | 82.8% |
| 营业利润率 | 12.4% | 22.8% |
| 净利率 | 1.8% | 21.0% |
| 营收同比 | — | 14.3% |
| 净利润同比 | — | -85.0% |
| 每股收益（稀释后） | $0.05 | $0.41 |
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ASPINS
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $998.2M | ||
| Q1 25 | — | $855.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $898.4M | ||
| Q2 24 | — | $853.7M | ||
| Q1 24 | $1.1B | $740.0M |
净利润ASPINS
| Q4 25 | — | $277.1M | ||
| Q3 25 | — | $92.1M | ||
| Q2 25 | — | $38.8M | ||
| Q1 25 | — | $8.9M | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $30.6M | ||
| Q2 24 | — | $8.9M | ||
| Q1 24 | $19.0M | $-24.8M |
毛利率ASPINS
| Q4 25 | — | 82.8% | ||
| Q3 25 | — | 79.8% | ||
| Q2 25 | — | 79.7% | ||
| Q1 25 | — | 76.7% | ||
| Q4 24 | — | 82.9% | ||
| Q3 24 | — | 79.1% | ||
| Q2 24 | — | 78.3% | ||
| Q1 24 | 52.8% | 75.5% |
营业利润率ASPINS
| Q4 25 | — | 22.8% | ||
| Q3 25 | — | 5.6% | ||
| Q2 25 | — | -0.4% | ||
| Q1 25 | — | -4.1% | ||
| Q4 24 | — | 22.7% | ||
| Q3 24 | — | -0.7% | ||
| Q2 24 | — | -2.5% | ||
| Q1 24 | 12.4% | -7.4% |
净利率ASPINS
| Q4 25 | — | 21.0% | ||
| Q3 25 | — | 8.8% | ||
| Q2 25 | — | 3.9% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 160.1% | ||
| Q3 24 | — | 3.4% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | 1.8% | -3.4% |
每股收益（稀释后）ASPINS
| Q4 25 | — | $0.41 | ||
| Q3 25 | — | $0.13 | ||
| Q2 25 | — | $0.06 | ||
| Q1 25 | — | $0.01 | ||
| Q4 24 | — | $2.66 | ||
| Q3 24 | — | $0.04 | ||
| Q2 24 | — | $0.01 | ||
| Q1 24 | $0.05 | $-0.04 |
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 | — | $969.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $4.7B |
| 总资产 | — | $5.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ASPINS
| Q4 25 | — | $969.3M | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.6B |
股东权益ASPINS
| Q4 25 | — | $4.7B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $4.7B | ||
| Q4 24 | — | $4.8B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $3.2B | ||
| Q1 24 | — | $3.1B |
总资产ASPINS
| Q4 25 | — | $5.5B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.4B | ||
| Q1 25 | — | $5.3B | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | — | $3.5B | ||
| Q2 24 | — | $3.7B | ||
| Q1 24 | — | $3.7B |
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 | $114.3M | $391.2M |
| 自由现金流经营现金流 - 资本支出 | $92.2M | $380.4M |
| 自由现金流率自由现金流/营收 | 8.8% | 28.8% |
| 资本支出强度资本支出/营收 | 2.1% | 0.8% |
| 现金转化率经营现金流/净利润 | 6.02× | 1.41× |
| 过去12个月自由现金流最近4个季度 | — | $1.3B |
8季度趋势，按日历期对齐
经营现金流ASPINS
| Q4 25 | — | $391.2M | ||
| Q3 25 | — | $321.7M | ||
| Q2 25 | — | $207.7M | ||
| Q1 25 | — | $363.7M | ||
| Q4 24 | — | $254.0M | ||
| Q3 24 | — | $248.0M | ||
| Q2 24 | — | $106.4M | ||
| Q1 24 | $114.3M | $356.1M |
自由现金流ASPINS
| Q4 25 | — | $380.4M | ||
| Q3 25 | — | $318.4M | ||
| Q2 25 | — | $196.7M | ||
| Q1 25 | — | $356.4M | ||
| Q4 24 | — | $250.2M | ||
| Q3 24 | — | $244.1M | ||
| Q2 24 | — | $101.6M | ||
| Q1 24 | $92.2M | $344.0M |
自由现金流率ASPINS
| Q4 25 | — | 28.8% | ||
| Q3 25 | — | 30.3% | ||
| Q2 25 | — | 19.7% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | — | 21.7% | ||
| Q3 24 | — | 27.2% | ||
| Q2 24 | — | 11.9% | ||
| Q1 24 | 8.8% | 46.5% |
资本支出强度ASPINS
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 0.6% | ||
| Q1 24 | 2.1% | 1.6% |
现金转化率ASPINS
| Q4 25 | — | 1.41× | ||
| Q3 25 | — | 3.49× | ||
| Q2 25 | — | 5.36× | ||
| Q1 25 | — | 40.77× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 8.12× | ||
| Q2 24 | — | 11.98× | ||
| Q1 24 | 6.02× | — |
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
AS
| Americas2 | $409.6M | 39% |
| EMEA1 | $356.9M | 34% |
| Greater China3 | $205.6M | 20% |
| Asia Pacific4 | $78.2M | 7% |
PINS
| United States And Canada | $944.3M | 72% |
| Other | $375.0M | 28% |
