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亚什兰（ASH）与Penumbra Inc（PEN）财务数据对比。点击上方公司名可切换其他公司
亚什兰的季度营收约是Penumbra Inc的1.0倍（$386.0M vs $385.4M），Penumbra Inc净利率更高（12.3% vs -3.1%，领先15.4%），Penumbra Inc同比增速更快（22.1% vs -4.7%），亚什兰自由现金流更多（$111.0M vs $68.0M），过去两年Penumbra Inc的营收复合增速更高（17.6% vs -18.1%）
亚什兰是一家总部位于美国特拉华州威尔明顿的化工企业，1924年始创于肯塔基州亚什兰市，最初以炼油业务起家，1994年迁至现总部。公司拥有多个业务板块，覆盖化工中间体与溶剂、复合材料、工业特种化学品、个人及家居护理、制药、食品饮料以及农业相关领域，2017年之前曾是胜牌润滑油的主要生产商。
Penumbra Inc是2004年由Arani Bose与Adam Elsesser联合创立的美国医疗器械企业，总部位于加利福尼亚州阿拉米达，核心业务为研发、生产中风、动脉瘤等血管疾病介入治疗所用的专业医疗设备，产品已在全球多个国家的临床诊疗场景中投入使用。
ASH vs PEN — 直观对比
营收规模更大
ASH
是对方的1.0倍
$385.4M
营收增速更快
PEN
高出26.8%
-4.7%
净利率更高
PEN
高出15.4%
-3.1%
自由现金流更多
ASH
多$43.0M
$68.0M
两年增速更快
PEN
近两年复合增速
-18.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $386.0M | $385.4M |
| 净利润 | $-12.0M | $47.3M |
| 毛利率 | 27.2% | 68.0% |
| 营业利润率 | -1.6% | 15.4% |
| 净利率 | -3.1% | 12.3% |
| 营收同比 | -4.7% | 22.1% |
| 净利润同比 | 92.7% | 40.6% |
| 每股收益（稀释后） | $-0.26 | $1.20 |
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ASHPEN
| Q4 25 | $386.0M | $385.4M | ||
| Q3 25 | $477.0M | $354.7M | ||
| Q2 25 | $463.0M | $339.5M | ||
| Q1 25 | $479.0M | $324.1M | ||
| Q4 24 | $405.0M | $315.5M | ||
| Q3 24 | $521.0M | $301.0M | ||
| Q2 24 | $544.0M | $299.4M | ||
| Q1 24 | $575.0M | $278.7M |
净利润ASHPEN
| Q4 25 | $-12.0M | $47.3M | ||
| Q3 25 | $31.0M | $45.9M | ||
| Q2 25 | $-742.0M | $45.3M | ||
| Q1 25 | $31.0M | $39.2M | ||
| Q4 24 | $-165.0M | $33.7M | ||
| Q3 24 | $17.0M | $29.5M | ||
| Q2 24 | $6.0M | $-60.2M | ||
| Q1 24 | $120.0M | $11.0M |
毛利率ASHPEN
| Q4 25 | 27.2% | 68.0% | ||
| Q3 25 | 33.3% | 67.8% | ||
| Q2 25 | 28.5% | 66.0% | ||
| Q1 25 | 30.7% | 66.6% | ||
| Q4 24 | 27.4% | 66.8% | ||
| Q3 24 | 33.2% | 66.5% | ||
| Q2 24 | 34.2% | 54.4% | ||
| Q1 24 | 28.0% | 65.0% |
营业利润率ASHPEN
| Q4 25 | -1.6% | 15.4% | ||
| Q3 25 | 12.8% | 13.8% | ||
| Q2 25 | -152.9% | 12.0% | ||
| Q1 25 | 10.6% | 12.4% | ||
| Q4 24 | -44.2% | 13.6% | ||
| Q3 24 | 6.1% | 11.7% | ||
| Q2 24 | -11.2% | -27.0% | ||
| Q1 24 | 3.7% | 4.3% |
净利率ASHPEN
| Q4 25 | -3.1% | 12.3% | ||
| Q3 25 | 6.5% | 12.9% | ||
| Q2 25 | -160.3% | 13.3% | ||
| Q1 25 | 6.5% | 12.1% | ||
| Q4 24 | -40.7% | 10.7% | ||
| Q3 24 | 3.3% | 9.8% | ||
| Q2 24 | 1.1% | -20.1% | ||
| Q1 24 | 20.9% | 3.9% |
每股收益（稀释后）ASHPEN
| Q4 25 | $-0.26 | $1.20 | ||
| Q3 25 | $0.83 | $1.17 | ||
| Q2 25 | $-16.21 | $1.15 | ||
| Q1 25 | $0.65 | $1.00 | ||
| Q4 24 | $-3.50 | $0.88 | ||
| Q3 24 | $0.34 | $0.75 | ||
| Q2 24 | $0.12 | $-1.55 | ||
| Q1 24 | $2.39 | $0.28 |
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 | $304.0M | $186.9M |
| 总债务越低越好 | $1.4B | — |
| 股东权益账面价值 | $1.9B | $1.4B |
| 总资产 | $4.5B | $1.8B |
| 负债/权益比越低杠杆越低 | 0.74× | — |
8季度趋势，按日历期对齐
现金及短期投资ASHPEN
| Q4 25 | $304.0M | $186.9M | ||
| Q3 25 | $215.0M | $321.0M | ||
| Q2 25 | $207.0M | $421.8M | ||
| Q1 25 | $168.0M | $376.1M | ||
| Q4 24 | $219.0M | $324.4M | ||
| Q3 24 | $300.0M | $280.5M | ||
| Q2 24 | $399.0M | $288.3M | ||
| Q1 24 | $439.0M | $223.1M |
总债务ASHPEN
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
股东权益ASHPEN
| Q4 25 | $1.9B | $1.4B | ||
| Q3 25 | $1.9B | $1.4B | ||
| Q2 25 | $1.9B | $1.3B | ||
| Q1 25 | $2.6B | $1.2B | ||
| Q4 24 | $2.6B | $1.2B | ||
| Q3 24 | $2.9B | $1.1B | ||
| Q2 24 | $3.0B | $1.2B | ||
| Q1 24 | $3.1B | $1.2B |
总资产ASHPEN
| Q4 25 | $4.5B | $1.8B | ||
| Q3 25 | $4.6B | $1.7B | ||
| Q2 25 | $4.6B | $1.7B | ||
| Q1 25 | $5.2B | $1.6B | ||
| Q4 24 | $5.2B | $1.5B | ||
| Q3 24 | $5.6B | $1.5B | ||
| Q2 24 | $5.7B | $1.5B | ||
| Q1 24 | $5.9B | $1.6B |
负债/权益比ASHPEN
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.52× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.42× | — |
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 | $125.0M | $86.5M |
| 自由现金流经营现金流 - 资本支出 | $111.0M | $68.0M |
| 自由现金流率自由现金流/营收 | 28.8% | 17.7% |
| 资本支出强度资本支出/营收 | 3.6% | 4.8% |
| 现金转化率经营现金流/净利润 | — | 1.83× |
| 过去12个月自由现金流最近4个季度 | $200.0M | $174.9M |
8季度趋势，按日历期对齐
经营现金流ASHPEN
| Q4 25 | $125.0M | $86.5M | ||
| Q3 25 | $40.0M | $58.3M | ||
| Q2 25 | $115.0M | $44.9M | ||
| Q1 25 | $9.0M | $49.0M | ||
| Q4 24 | $-30.0M | $51.1M | ||
| Q3 24 | $80.0M | $56.5M | ||
| Q2 24 | $127.0M | $22.6M | ||
| Q1 24 | $54.0M | $38.3M |
自由现金流ASHPEN
| Q4 25 | $111.0M | $68.0M | ||
| Q3 25 | $6.0M | $42.0M | ||
| Q2 25 | $95.0M | $29.4M | ||
| Q1 25 | $-12.0M | $35.5M | ||
| Q4 24 | $-53.0M | $45.7M | ||
| Q3 24 | $42.0M | $51.0M | ||
| Q2 24 | $98.0M | $18.1M | ||
| Q1 24 | $20.0M | $32.5M |
自由现金流率ASHPEN
| Q4 25 | 28.8% | 17.7% | ||
| Q3 25 | 1.3% | 11.8% | ||
| Q2 25 | 20.5% | 8.7% | ||
| Q1 25 | -2.5% | 11.0% | ||
| Q4 24 | -13.1% | 14.5% | ||
| Q3 24 | 8.1% | 16.9% | ||
| Q2 24 | 18.0% | 6.0% | ||
| Q1 24 | 3.5% | 11.7% |
资本支出强度ASHPEN
| Q4 25 | 3.6% | 4.8% | ||
| Q3 25 | 7.1% | 4.6% | ||
| Q2 25 | 4.3% | 4.6% | ||
| Q1 25 | 4.4% | 4.2% | ||
| Q4 24 | 5.7% | 1.7% | ||
| Q3 24 | 7.3% | 1.8% | ||
| Q2 24 | 5.3% | 1.5% | ||
| Q1 24 | 5.9% | 2.1% |
现金转化率ASHPEN
| Q4 25 | — | 1.83× | ||
| Q3 25 | 1.29× | 1.27× | ||
| Q2 25 | — | 0.99× | ||
| Q1 25 | 0.29× | 1.25× | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | 4.71× | 1.91× | ||
| Q2 24 | 21.17× | — | ||
| Q1 24 | 0.45× | 3.48× |
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
ASH
| Personal Care And Household | $123.0M | 32% |
| Other | $120.0M | 31% |
| Specialty Additives | $36.0M | 9% |
| Intermediates And Solvents | $31.0M | 8% |
| Personal Care | $30.0M | 8% |
| Life Sciences | $27.0M | 7% |
| Intermediates | $19.0M | 5% |
PEN
| Thrombectomy | $254.7M | 66% |
| Other | $130.7M | 34% |
