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Acushnet Holdings Corp.（GOLF）与PELOTON INTERACTIVE, INC.（PTON）财务数据对比。点击上方公司名可切换其他公司
PELOTON INTERACTIVE, INC.的季度营收约是Acushnet Holdings Corp.的1.4倍（$656.5M vs $477.2M）。PELOTON INTERACTIVE, INC.净利率更高（-5.9% vs -7.3%，领先1.4%）。Acushnet Holdings Corp.同比增速更快（7.2% vs -2.6%）。PELOTON INTERACTIVE, INC.自由现金流更多（$71.0M vs $-23.3M）
Acushnet Holdings Corp.是一家专注于高尔夫赛道的美国企业，旗下运营多个知名品牌，产品品类覆盖高尔夫专业器材、运动服饰及相关配件，为全球高尔夫运动爱好者提供多元化的相关产品选择。
派乐腾（Peloton Interactive）是总部位于美国纽约的健身设备与媒体服务商，主打搭载联网触控屏的动感单车、跑步机、室内划船器等产品，用户付费订阅即可观看直播和录播健身课程，设备内置传感器可追踪运动功率等数据，为用户提供实时运动表现反馈，还支持排行榜功能与其他用户互动比拼。
GOLF vs PTON — 直观对比
营收规模更大
PTON
是对方的1.4倍
$477.2M
营收增速更快
GOLF
高出9.8%
-2.6%
净利率更高
PTON
高出1.4%
-7.3%
自由现金流更多
PTON
多$94.3M
$-23.3M
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $477.2M | $656.5M |
| 净利润 | $-34.9M | $-38.8M |
| 毛利率 | 44.1% | 50.5% |
| 营业利润率 | -3.8% | -2.2% |
| 净利率 | -7.3% | -5.9% |
| 营收同比 | 7.2% | -2.6% |
| 净利润同比 | -3027.3% | 57.8% |
| 每股收益（稀释后） | $-0.57 | $-0.09 |
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GOLFPTON
| Q4 25 | $477.2M | $656.5M | ||
| Q3 25 | $657.7M | $550.8M | ||
| Q2 25 | $720.5M | — | ||
| Q1 25 | $703.4M | — | ||
| Q4 24 | $445.2M | — | ||
| Q3 24 | $620.5M | — | ||
| Q2 24 | $683.9M | — | ||
| Q1 24 | $707.6M | — |
净利润GOLFPTON
| Q4 25 | $-34.9M | $-38.8M | ||
| Q3 25 | $48.5M | $13.9M | ||
| Q2 25 | $75.6M | — | ||
| Q1 25 | $99.4M | — | ||
| Q4 24 | $-1.1M | — | ||
| Q3 24 | $56.2M | — | ||
| Q2 24 | $71.4M | — | ||
| Q1 24 | $87.8M | — |
毛利率GOLFPTON
| Q4 25 | 44.1% | 50.5% | ||
| Q3 25 | 48.5% | 51.5% | ||
| Q2 25 | 49.2% | — | ||
| Q1 25 | 47.9% | — | ||
| Q4 24 | 22.6% | — | ||
| Q3 24 | 54.4% | — | ||
| Q2 24 | 54.4% | — | ||
| Q1 24 | 53.4% | — |
营业利润率GOLFPTON
| Q4 25 | -3.8% | -2.2% | ||
| Q3 25 | 14.1% | 7.5% | ||
| Q2 25 | 15.2% | — | ||
| Q1 25 | 16.3% | — | ||
| Q4 24 | -1.2% | — | ||
| Q3 24 | 13.2% | — | ||
| Q2 24 | 15.5% | — | ||
| Q1 24 | 17.2% | — |
净利率GOLFPTON
| Q4 25 | -7.3% | -5.9% | ||
| Q3 25 | 7.4% | 2.5% | ||
| Q2 25 | 10.5% | — | ||
| Q1 25 | 14.1% | — | ||
| Q4 24 | -0.3% | — | ||
| Q3 24 | 9.1% | — | ||
| Q2 24 | 10.4% | — | ||
| Q1 24 | 12.4% | — |
每股收益（稀释后）GOLFPTON
| Q4 25 | $-0.57 | $-0.09 | ||
| Q3 25 | $0.81 | $0.03 | ||
| Q2 25 | $1.25 | — | ||
| Q1 25 | $1.62 | — | ||
| Q4 24 | $0.02 | — | ||
| Q3 24 | $0.89 | — | ||
| Q2 24 | $1.11 | — | ||
| Q1 24 | $1.35 | — |
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 | — | $1.2B |
| 总债务越低越好 | $926.2M | $1.5B |
| 股东权益账面价值 | $783.6M | $-326.7M |
| 总资产 | $2.3B | $2.2B |
| 负债/权益比越低杠杆越低 | 1.18× | — |
8季度趋势，按日历期对齐
现金及短期投资GOLFPTON
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务GOLFPTON
| Q4 25 | $926.2M | $1.5B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $753.1M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益GOLFPTON
| Q4 25 | $783.6M | $-326.7M | ||
| Q3 25 | $852.3M | $-347.0M | ||
| Q2 25 | $808.5M | — | ||
| Q1 25 | $780.3M | — | ||
| Q4 24 | $765.2M | — | ||
| Q3 24 | $863.9M | — | ||
| Q2 24 | $863.7M | — | ||
| Q1 24 | $883.7M | — |
总资产GOLFPTON
| Q4 25 | $2.3B | $2.2B | ||
| Q3 25 | $2.4B | $2.2B | ||
| Q2 25 | $2.4B | — | ||
| Q1 25 | $2.4B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | $2.4B | — |
负债/权益比GOLFPTON
| Q4 25 | 1.18× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-338.0K | $71.9M |
| 自由现金流经营现金流 - 资本支出 | $-23.3M | $71.0M |
| 自由现金流率自由现金流/营收 | -4.9% | 10.8% |
| 资本支出强度资本支出/营收 | 4.8% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $120.0M | — |
8季度趋势，按日历期对齐
经营现金流GOLFPTON
| Q4 25 | $-338.0K | $71.9M | ||
| Q3 25 | $163.1M | $71.9M | ||
| Q2 25 | $151.9M | — | ||
| Q1 25 | $-120.3M | — | ||
| Q4 24 | $-1.1M | — | ||
| Q3 24 | $144.1M | — | ||
| Q2 24 | $211.6M | — | ||
| Q1 24 | $-109.5M | — |
自由现金流GOLFPTON
| Q4 25 | $-23.3M | $71.0M | ||
| Q3 25 | $136.9M | $67.4M | ||
| Q2 25 | $138.0M | — | ||
| Q1 25 | $-131.5M | — | ||
| Q4 24 | $-33.2M | — | ||
| Q3 24 | $123.7M | — | ||
| Q2 24 | $196.8M | — | ||
| Q1 24 | $-116.8M | — |
自由现金流率GOLFPTON
| Q4 25 | -4.9% | 10.8% | ||
| Q3 25 | 20.8% | 12.2% | ||
| Q2 25 | 19.2% | — | ||
| Q1 25 | -18.7% | — | ||
| Q4 24 | -7.5% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 28.8% | — | ||
| Q1 24 | -16.5% | — |
资本支出强度GOLFPTON
| Q4 25 | 4.8% | 0.1% | ||
| Q3 25 | 4.0% | 0.8% | ||
| Q2 25 | 1.9% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 7.2% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 1.0% | — |
现金转化率GOLFPTON
| Q4 25 | — | — | ||
| Q3 25 | 3.36× | 5.17× | ||
| Q2 25 | 2.01× | — | ||
| Q1 25 | -1.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.56× | — | ||
| Q2 24 | 2.96× | — | ||
| Q1 24 | -1.25× | — |
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
GOLF
| Titleist Golf Equipment | $293.8M | 62% |
| Footjoy Golf Wear | $102.0M | 21% |
| Other | $45.3M | 9% |
| Golf Gear | $36.1M | 8% |
PTON
| Subscription And Circulation | $412.6M | 63% |
| Connected Fitness Products Segment | $243.9M | 37% |
| Product Warranty | $4.0M | 1% |
