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贝壳控股（BEKE）与PENN Entertainment, Inc.（PENN）财务数据对比。点击上方公司名可切换其他公司
贝壳控股的季度营收约是PENN Entertainment, Inc.的1.8倍（$3.2B vs $1.8B），贝壳控股净利率更高（3.2% vs -0.2%，领先3.4%），过去两年贝壳控股的营收复合增速更高（9.8% vs 3.4%）
贝壳控股是中国领先的线上线下一体化居住服务平台，旗下运营贝壳找房等品牌，业务覆盖二手房交易经纪、新房代理销售、房屋租赁、家装改造及居住相关金融咨询服务，可满足消费者全周期居住需求。
Penn Entertainment, Inc.（前称宾州国家博彩）是美国知名娱乐企业，业务涵盖综合娱乐运营、体育内容供给及赌场博彩服务，旗下运营好莱坞赌场、Ameristar、Boomtown等品牌，在全美20个州拥有43处经营场所，同时持有加拿大数字媒体企业Score Media and Gaming的所有权。
BEKE vs PENN — 直观对比
营收规模更大
BEKE
是对方的1.8倍
$1.8B
净利率更高
BEKE
高出3.4%
-0.2%
两年增速更快
BEKE
近两年复合增速
3.4%
损益表 — Q3 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.2B | $1.8B |
| 净利润 | $104.9M | $-2.8M |
| 毛利率 | 21.4% | — |
| 营业利润率 | 2.6% | 5.5% |
| 净利率 | 3.2% | -0.2% |
| 营收同比 | — | 6.4% |
| 净利润同比 | — | 66.7% |
| 每股收益（稀释后） | — | $-0.02 |
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BEKEPENN
| Q1 26 | — | $1.8B | ||
| Q4 25 | $3.2B | $1.8B | ||
| Q3 25 | $3.6B | $1.7B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | $3.2B | $1.7B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $3.2B | $1.6B | ||
| Q2 24 | $3.2B | $1.7B |
净利润BEKEPENN
| Q1 26 | — | $-2.8M | ||
| Q4 25 | $104.9M | $-72.9M | ||
| Q3 25 | $182.4M | $-864.6M | ||
| Q2 25 | — | $-17.4M | ||
| Q1 25 | $117.9M | $111.8M | ||
| Q4 24 | — | $-133.3M | ||
| Q3 24 | $166.5M | $-36.7M | ||
| Q2 24 | $261.5M | $-26.8M |
毛利率BEKEPENN
| Q1 26 | — | — | ||
| Q4 25 | 21.4% | — | ||
| Q3 25 | 21.9% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 20.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 22.7% | — | ||
| Q2 24 | 27.9% | — |
营业利润率BEKEPENN
| Q1 26 | — | 5.5% | ||
| Q4 25 | 2.6% | -1.0% | ||
| Q3 25 | 4.1% | -45.2% | ||
| Q2 25 | — | 4.4% | ||
| Q1 25 | 2.5% | 2.6% | ||
| Q4 24 | — | -2.9% | ||
| Q3 24 | 3.2% | 4.1% | ||
| Q2 24 | 8.6% | 4.5% |
净利率BEKEPENN
| Q1 26 | — | -0.2% | ||
| Q4 25 | 3.2% | -4.0% | ||
| Q3 25 | 5.0% | -50.3% | ||
| Q2 25 | — | -1.0% | ||
| Q1 25 | 3.7% | 6.7% | ||
| Q4 24 | — | -8.0% | ||
| Q3 24 | 5.2% | -2.2% | ||
| Q2 24 | 8.1% | -1.6% |
每股收益（稀释后）BEKEPENN
| Q1 26 | — | $-0.02 | ||
| Q4 25 | — | $-0.36 | ||
| Q3 25 | — | $-6.03 | ||
| Q2 25 | — | $-0.12 | ||
| Q1 25 | — | $0.68 | ||
| Q4 24 | — | $-0.87 | ||
| Q3 24 | — | $-0.24 | ||
| Q2 24 | — | $-0.18 |
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 | $1.3B | $708.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | — |
| 总资产 | $16.8B | — |
| 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BEKEPENN
| Q1 26 | — | $708.0M | ||
| Q4 25 | $1.3B | $686.6M | ||
| Q3 25 | $1.6B | $660.1M | ||
| Q2 25 | — | $671.6M | ||
| Q1 25 | $1.8B | $591.6M | ||
| Q4 24 | — | $706.6M | ||
| Q3 24 | $1.4B | $834.0M | ||
| Q2 24 | $1.3B | $877.6M |
总债务BEKEPENN
| Q1 26 | — | — | ||
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.8B |
股东权益BEKEPENN
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | $9.6B | $2.0B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | $9.5B | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $10.1B | $3.1B | ||
| Q2 24 | $9.7B | $3.1B |
总资产BEKEPENN
| Q1 26 | — | — | ||
| Q4 25 | $16.8B | $14.3B | ||
| Q3 25 | $17.3B | $14.3B | ||
| Q2 25 | — | $15.2B | ||
| Q1 25 | $18.0B | $15.1B | ||
| Q4 24 | — | $15.3B | ||
| Q3 24 | $17.5B | $15.5B | ||
| Q2 24 | $16.9B | $15.5B |
负债/权益比BEKEPENN
| Q1 26 | — | — | ||
| Q4 25 | — | 1.58× | ||
| Q3 25 | — | 1.46× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.89× | ||
| Q4 24 | — | 0.98× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | — | 0.91× |
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
BEKE
| New home transaction services | $932.6M | 29% |
| Existing home transaction services | $841.5M | 26% |
| Home rental services | $804.4M | 25% |
| Home renovation and furnishing | $604.0M | 19% |
| Emerging and other services | $55.6M | 2% |
PENN
| Northeast segment (1) | $687.1M | 39% |
| Interactive (5) | $290.1M | 16% |
| South segment (2) | $288.3M | 16% |
| Midwest segment (4) | $282.9M | 16% |
| West segment (3) | $129.7M | 7% |
| Other | $101.0M | 6% |
