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六旗（FUN）与Penumbra Inc（PEN）财务数据对比。点击上方公司名可切换其他公司
Penumbra Inc的季度营收约是六旗的1.7倍（$385.4M vs $225.6M），Penumbra Inc净利率更高（12.3% vs -119.0%，领先131.3%），Penumbra Inc同比增速更快（22.1% vs 11.7%）
六旗娱乐是总部位于美国北卡罗来纳州夏洛特的游乐园运营企业，由雪松会与原六旗公司于2024年7月1日对等合并而成，是全球最大的区域性游乐园运营商。旗下共运营42个场地，包含27座游乐园、15座水上乐园，配套9处 onsite 度假物业。
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。
FUN vs PEN — 直观对比
营收规模更大
PEN
是对方的1.7倍
$225.6M
营收增速更快
PEN
高出10.5%
11.7%
净利率更高
PEN
高出131.3%
-119.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $385.4M |
| 净利润 | $-268.6M | $47.3M |
| 毛利率 | — | 68.0% |
| 营业利润率 | — | 15.4% |
| 净利率 | -119.0% | 12.3% |
| 营收同比 | 11.7% | 22.1% |
| 净利润同比 | -22.2% | 40.6% |
| 每股收益（稀释后） | — | $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FUNPEN
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | $385.4M | ||
| Q3 25 | $1.3B | $354.7M | ||
| Q2 25 | $930.4M | $339.5M | ||
| Q1 25 | $202.1M | $324.1M | ||
| Q4 24 | — | $315.5M | ||
| Q3 24 | $1.3B | $301.0M | ||
| Q2 24 | $571.6M | $299.4M |
净利润FUNPEN
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | $47.3M | ||
| Q3 25 | $-1.2B | $45.9M | ||
| Q2 25 | $-99.6M | $45.3M | ||
| Q1 25 | $-219.7M | $39.2M | ||
| Q4 24 | — | $33.7M | ||
| Q3 24 | $111.0M | $29.5M | ||
| Q2 24 | $55.6M | $-60.2M |
毛利率FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | 68.0% | ||
| Q3 25 | 91.6% | 67.8% | ||
| Q2 25 | 91.3% | 66.0% | ||
| Q1 25 | 89.3% | 66.6% | ||
| Q4 24 | — | 66.8% | ||
| Q3 24 | 91.9% | 66.5% | ||
| Q2 24 | 90.7% | 54.4% |
营业利润率FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | 15.4% | ||
| Q3 25 | -83.7% | 13.8% | ||
| Q2 25 | 8.0% | 12.0% | ||
| Q1 25 | -158.9% | 12.4% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | 19.5% | 11.7% | ||
| Q2 24 | 21.6% | -27.0% |
净利率FUNPEN
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | 12.3% | ||
| Q3 25 | -90.1% | 12.9% | ||
| Q2 25 | -10.7% | 13.3% | ||
| Q1 25 | -108.7% | 12.1% | ||
| Q4 24 | — | 10.7% | ||
| Q3 24 | 8.2% | 9.8% | ||
| Q2 24 | 9.7% | -20.1% |
每股收益（稀释后）FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $1.20 | ||
| Q3 25 | $-11.77 | $1.17 | ||
| Q2 25 | $-0.99 | $1.15 | ||
| Q1 25 | $-2.20 | $1.00 | ||
| Q4 24 | — | $0.88 | ||
| Q3 24 | $1.10 | $0.75 | ||
| Q2 24 | — | $-1.55 |
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 | $116.5M | $186.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $279.2M | $1.4B |
| 总资产 | $7.7B | $1.8B |
| 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FUNPEN
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | $186.9M | ||
| Q3 25 | $70.7M | $321.0M | ||
| Q2 25 | $107.4M | $421.8M | ||
| Q1 25 | $61.5M | $376.1M | ||
| Q4 24 | — | $324.4M | ||
| Q3 24 | $89.7M | $280.5M | ||
| Q2 24 | $52.9M | $288.3M |
总债务FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | — |
股东权益FUNPEN
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $1.4B | ||
| Q3 25 | $614.3M | $1.4B | ||
| Q2 25 | $1.8B | $1.3B | ||
| Q1 25 | $1.8B | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $2.3B | $1.1B | ||
| Q2 24 | — | $1.2B |
总资产FUNPEN
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $1.8B | ||
| Q3 25 | $7.9B | $1.7B | ||
| Q2 25 | $9.5B | $1.7B | ||
| Q1 25 | $9.2B | $1.6B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $9.4B | $1.5B | ||
| Q2 24 | $2.3B | $1.5B |
负债/权益比FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | — | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.95× | — | ||
| Q2 24 | — | — |
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 | — | $86.5M |
| 自由现金流经营现金流 - 资本支出 | — | $68.0M |
| 自由现金流率自由现金流/营收 | — | 17.7% |
| 资本支出强度资本支出/营收 | — | 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 | — | $174.9M |
8季度趋势，按日历期对齐
经营现金流FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $86.5M | ||
| Q3 25 | $356.2M | $58.3M | ||
| Q2 25 | $187.0M | $44.9M | ||
| Q1 25 | $-178.0M | $49.0M | ||
| Q4 24 | — | $51.1M | ||
| Q3 24 | $337.4M | $56.5M | ||
| Q2 24 | — | $22.6M |
自由现金流FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $68.0M | ||
| Q3 25 | $256.2M | $42.0M | ||
| Q2 25 | $18.8M | $29.4M | ||
| Q1 25 | $-318.0M | $35.5M | ||
| Q4 24 | — | $45.7M | ||
| Q3 24 | $227.7M | $51.0M | ||
| Q2 24 | — | $18.1M |
自由现金流率FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | 17.7% | ||
| Q3 25 | 19.4% | 11.8% | ||
| Q2 25 | 2.0% | 8.7% | ||
| Q1 25 | -157.4% | 11.0% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | 16.9% | 16.9% | ||
| Q2 24 | — | 6.0% |
资本支出强度FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 4.8% | ||
| Q3 25 | 7.6% | 4.6% | ||
| Q2 25 | 18.1% | 4.6% | ||
| Q1 25 | 69.3% | 4.2% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | 8.1% | 1.8% | ||
| Q2 24 | — | 1.5% |
现金转化率FUNPEN
| Q1 26 | — | — | ||
| Q4 25 | — | 1.83× | ||
| Q3 25 | — | 1.27× | ||
| Q2 25 | — | 0.99× | ||
| Q1 25 | — | 1.25× | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | 3.04× | 1.91× | ||
| Q2 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
FUN
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
PEN
| Thrombectomy | $254.7M | 66% |
| Other | $130.7M | 34% |
