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GLAUKOS Corp（GKOS）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GLAUKOS Corp的2.7倍（$385.4M vs $143.1M）。Penumbra Inc净利率更高（12.3% vs -93.4%，领先105.7%）。GLAUKOS Corp同比增速更快（35.7% vs 22.1%）。Penumbra Inc自由现金流更多（$68.0M vs $3.9M）。过去两年GLAUKOS Corp的营收复合增速更高（29.3% vs 17.6%）
Glaukos Corp是一家专注于眼科领域的医疗科技企业，开发并商业化用于治疗青光眼、角膜疾病等眼部病症的微创手术器械、处方药物及消费级产品，主要市场覆盖北美、欧洲及亚太地区，为全球医院、眼科诊所及患者提供服务。
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。
GKOS vs PEN — 直观对比
营收规模更大
PEN
是对方的2.7倍
$143.1M
营收增速更快
GKOS
高出13.5%
22.1%
净利率更高
PEN
高出105.7%
-93.4%
自由现金流更多
PEN
多$64.1M
$3.9M
两年增速更快
GKOS
近两年复合增速
17.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $143.1M | $385.4M |
| 净利润 | $-133.7M | $47.3M |
| 毛利率 | -1.1% | 68.0% |
| 营业利润率 | -97.7% | 15.4% |
| 净利率 | -93.4% | 12.3% |
| 营收同比 | 35.7% | 22.1% |
| 净利润同比 | -298.0% | 40.6% |
| 每股收益（稀释后） | $-2.34 | $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GKOSPEN
| Q4 25 | $143.1M | $385.4M | ||
| Q3 25 | $133.5M | $354.7M | ||
| Q2 25 | $124.1M | $339.5M | ||
| Q1 25 | $106.7M | $324.1M | ||
| Q4 24 | $105.5M | $315.5M | ||
| Q3 24 | $96.7M | $301.0M | ||
| Q2 24 | $95.7M | $299.4M | ||
| Q1 24 | $85.6M | $278.7M |
净利润GKOSPEN
| Q4 25 | $-133.7M | $47.3M | ||
| Q3 25 | $-16.2M | $45.9M | ||
| Q2 25 | $-19.7M | $45.3M | ||
| Q1 25 | $-18.1M | $39.2M | ||
| Q4 24 | $-33.6M | $33.7M | ||
| Q3 24 | $-21.4M | $29.5M | ||
| Q2 24 | $-50.5M | $-60.2M | ||
| Q1 24 | $-40.8M | $11.0M |
毛利率GKOSPEN
| Q4 25 | -1.1% | 68.0% | ||
| Q3 25 | 78.4% | 67.8% | ||
| Q2 25 | 78.3% | 66.0% | ||
| Q1 25 | 77.2% | 66.6% | ||
| Q4 24 | 72.9% | 66.8% | ||
| Q3 24 | 76.6% | 66.5% | ||
| Q2 24 | 76.4% | 54.4% | ||
| Q1 24 | 76.3% | 65.0% |
营业利润率GKOSPEN
| Q4 25 | -97.7% | 15.4% | ||
| Q3 25 | -12.3% | 13.8% | ||
| Q2 25 | -18.3% | 12.0% | ||
| Q1 25 | -19.4% | 12.4% | ||
| Q4 24 | -27.2% | 13.6% | ||
| Q3 24 | -25.5% | 11.7% | ||
| Q2 24 | -31.3% | -27.0% | ||
| Q1 24 | -45.6% | 4.3% |
净利率GKOSPEN
| Q4 25 | -93.4% | 12.3% | ||
| Q3 25 | -12.2% | 12.9% | ||
| Q2 25 | -15.8% | 13.3% | ||
| Q1 25 | -17.0% | 12.1% | ||
| Q4 24 | -31.8% | 10.7% | ||
| Q3 24 | -22.1% | 9.8% | ||
| Q2 24 | -52.8% | -20.1% | ||
| Q1 24 | -47.7% | 3.9% |
每股收益（稀释后）GKOSPEN
| Q4 25 | $-2.34 | $1.20 | ||
| Q3 25 | $-0.28 | $1.17 | ||
| Q2 25 | $-0.34 | $1.15 | ||
| Q1 25 | $-0.32 | $1.00 | ||
| Q4 24 | $-0.56 | $0.88 | ||
| Q3 24 | $-0.39 | $0.75 | ||
| Q2 24 | $-1.00 | $-1.55 | ||
| Q1 24 | $-0.82 | $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 | $90.8M | $186.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $656.2M | $1.4B |
| 总资产 | $893.5M | $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GKOSPEN
| Q4 25 | $90.8M | $186.9M | ||
| Q3 25 | $98.2M | $321.0M | ||
| Q2 25 | $100.8M | $421.8M | ||
| Q1 25 | $114.3M | $376.1M | ||
| Q4 24 | $169.6M | $324.4M | ||
| Q3 24 | $100.1M | $280.5M | ||
| Q2 24 | $68.1M | $288.3M | ||
| Q1 24 | $42.5M | $223.1M |
股东权益GKOSPEN
| Q4 25 | $656.2M | $1.4B | ||
| Q3 25 | $769.5M | $1.4B | ||
| Q2 25 | $765.1M | $1.3B | ||
| Q1 25 | $764.0M | $1.2B | ||
| Q4 24 | $766.9M | $1.2B | ||
| Q3 24 | $668.5M | $1.1B | ||
| Q2 24 | $665.2M | $1.2B | ||
| Q1 24 | $450.7M | $1.2B |
总资产GKOSPEN
| Q4 25 | $893.5M | $1.8B | ||
| Q3 25 | $999.4M | $1.7B | ||
| Q2 25 | $987.0M | $1.7B | ||
| Q1 25 | $966.2M | $1.6B | ||
| Q4 24 | $974.8M | $1.5B | ||
| Q3 24 | $926.5M | $1.5B | ||
| Q2 24 | $919.7M | $1.5B | ||
| Q1 24 | $933.3M | $1.6B |
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 | $6.8M | $86.5M |
| 自由现金流经营现金流 - 资本支出 | $3.9M | $68.0M |
| 自由现金流率自由现金流/营收 | 2.7% | 17.7% |
| 资本支出强度资本支出/营收 | 2.0% | 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 | $-22.5M | $174.9M |
8季度趋势，按日历期对齐
经营现金流GKOSPEN
| Q4 25 | $6.8M | $86.5M | ||
| Q3 25 | $-10.1M | $58.3M | ||
| Q2 25 | $7.0M | $44.9M | ||
| Q1 25 | $-18.5M | $49.0M | ||
| Q4 24 | $507.0K | $51.1M | ||
| Q3 24 | $-9.6M | $56.5M | ||
| Q2 24 | $-18.4M | $22.6M | ||
| Q1 24 | $-33.9M | $38.3M |
自由现金流GKOSPEN
| Q4 25 | $3.9M | $68.0M | ||
| Q3 25 | $-11.7M | $42.0M | ||
| Q2 25 | $5.8M | $29.4M | ||
| Q1 25 | $-20.5M | $35.5M | ||
| Q4 24 | $-1.2M | $45.7M | ||
| Q3 24 | $-11.0M | $51.0M | ||
| Q2 24 | $-20.5M | $18.1M | ||
| Q1 24 | $-34.8M | $32.5M |
自由现金流率GKOSPEN
| Q4 25 | 2.7% | 17.7% | ||
| Q3 25 | -8.8% | 11.8% | ||
| Q2 25 | 4.7% | 8.7% | ||
| Q1 25 | -19.2% | 11.0% | ||
| Q4 24 | -1.2% | 14.5% | ||
| Q3 24 | -11.4% | 16.9% | ||
| Q2 24 | -21.4% | 6.0% | ||
| Q1 24 | -40.7% | 11.7% |
资本支出强度GKOSPEN
| Q4 25 | 2.0% | 4.8% | ||
| Q3 25 | 1.2% | 4.6% | ||
| Q2 25 | 0.9% | 4.6% | ||
| Q1 25 | 1.8% | 4.2% | ||
| Q4 24 | 1.6% | 1.7% | ||
| Q3 24 | 1.5% | 1.8% | ||
| Q2 24 | 2.2% | 1.5% | ||
| Q1 24 | 1.1% | 2.1% |
现金转化率GKOSPEN
| Q4 25 | — | 1.83× | ||
| Q3 25 | — | 1.27× | ||
| Q2 25 | — | 0.99× | ||
| Q1 25 | — | 1.25× | ||
| Q4 24 | — | 1.52× | ||
| Q3 24 | — | 1.91× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 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
GKOS
| Glaucoma | $86.4M | 60% |
| Other | $35.1M | 25% |
| Corneal Health | $21.6M | 15% |
PEN
暂无分部数据
