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HAEMONETICS CORP（HAE）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HAEMONETICS CORP的1.1倍（$385.4M vs $339.0M），HAEMONETICS CORP净利率更高（13.2% vs 12.3%，领先0.9%），Penumbra Inc同比增速更快（22.1% vs -2.7%），HAEMONETICS CORP自由现金流更多（$87.2M vs $68.0M），过去两年Penumbra Inc的营收复合增速更高（17.6% vs 0.4%）
豪洛捷（Haemonetics）是全球血液与血浆供应及服务提供商，于20世纪70年代由艾伦·（杰克）·莱瑟姆博士在马萨诸塞州内蒂克创立，业务围绕血液相关产品及配套服务展开，为全球医疗领域提供血液管理相关的专业解决方案。
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。
HAE vs PEN — 直观对比
营收规模更大
PEN
是对方的1.1倍
$339.0M
营收增速更快
PEN
高出24.9%
-2.7%
净利率更高
HAE
高出0.9%
12.3%
自由现金流更多
HAE
多$19.2M
$68.0M
两年增速更快
PEN
近两年复合增速
0.4%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $339.0M | $385.4M |
| 净利润 | $44.7M | $47.3M |
| 毛利率 | 59.7% | 68.0% |
| 营业利润率 | 19.9% | 15.4% |
| 净利率 | 13.2% | 12.3% |
| 营收同比 | -2.7% | 22.1% |
| 净利润同比 | 19.3% | 40.6% |
| 每股收益（稀释后） | $0.95 | $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HAEPEN
| Q4 25 | $339.0M | $385.4M | ||
| Q3 25 | $327.3M | $354.7M | ||
| Q2 25 | $321.4M | $339.5M | ||
| Q1 25 | $330.6M | $324.1M | ||
| Q4 24 | $348.5M | $315.5M | ||
| Q3 24 | $345.5M | $301.0M | ||
| Q2 24 | $336.2M | $299.4M | ||
| Q1 24 | — | $278.7M |
净利润HAEPEN
| Q4 25 | $44.7M | $47.3M | ||
| Q3 25 | $38.7M | $45.9M | ||
| Q2 25 | $34.0M | $45.3M | ||
| Q1 25 | $58.0M | $39.2M | ||
| Q4 24 | $37.5M | $33.7M | ||
| Q3 24 | $33.8M | $29.5M | ||
| Q2 24 | $38.4M | $-60.2M | ||
| Q1 24 | — | $11.0M |
毛利率HAEPEN
| Q4 25 | 59.7% | 68.0% | ||
| Q3 25 | 59.5% | 67.8% | ||
| Q2 25 | 59.8% | 66.0% | ||
| Q1 25 | 58.4% | 66.6% | ||
| Q4 24 | 55.5% | 66.8% | ||
| Q3 24 | 54.2% | 66.5% | ||
| Q2 24 | 52.0% | 54.4% | ||
| Q1 24 | — | 65.0% |
营业利润率HAEPEN
| Q4 25 | 19.9% | 15.4% | ||
| Q3 25 | 17.9% | 13.8% | ||
| Q2 25 | 16.8% | 12.0% | ||
| Q1 25 | 21.6% | 12.4% | ||
| Q4 24 | 16.9% | 13.6% | ||
| Q3 24 | 15.0% | 11.7% | ||
| Q2 24 | 11.8% | -27.0% | ||
| Q1 24 | — | 4.3% |
净利率HAEPEN
| Q4 25 | 13.2% | 12.3% | ||
| Q3 25 | 11.8% | 12.9% | ||
| Q2 25 | 10.6% | 13.3% | ||
| Q1 25 | 17.5% | 12.1% | ||
| Q4 24 | 10.8% | 10.7% | ||
| Q3 24 | 9.8% | 9.8% | ||
| Q2 24 | 11.4% | -20.1% | ||
| Q1 24 | — | 3.9% |
每股收益（稀释后）HAEPEN
| Q4 25 | $0.95 | $1.20 | ||
| Q3 25 | $0.81 | $1.17 | ||
| Q2 25 | $0.70 | $1.15 | ||
| Q1 25 | $1.17 | $1.00 | ||
| Q4 24 | $0.74 | $0.88 | ||
| Q3 24 | $0.66 | $0.75 | ||
| Q2 24 | $0.74 | $-1.55 | ||
| Q1 24 | — | $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 | $363.4M | $186.9M |
| 总债务越低越好 | $1.2B | — |
| 股东权益账面价值 | $911.5M | $1.4B |
| 总资产 | $2.5B | $1.8B |
| 负债/权益比越低杠杆越低 | 1.34× | — |
8季度趋势，按日历期对齐
现金及短期投资HAEPEN
| Q4 25 | $363.4M | $186.9M | ||
| Q3 25 | $296.4M | $321.0M | ||
| Q2 25 | $292.9M | $421.8M | ||
| Q1 25 | $306.8M | $376.1M | ||
| Q4 24 | $320.8M | $324.4M | ||
| Q3 24 | $299.3M | $280.5M | ||
| Q2 24 | $344.4M | $288.3M | ||
| Q1 24 | — | $223.1M |
总债务HAEPEN
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益HAEPEN
| Q4 25 | $911.5M | $1.4B | ||
| Q3 25 | $849.2M | $1.4B | ||
| Q2 25 | $882.3M | $1.3B | ||
| Q1 25 | $820.8M | $1.2B | ||
| Q4 24 | $906.9M | $1.2B | ||
| Q3 24 | $878.9M | $1.1B | ||
| Q2 24 | $905.4M | $1.2B | ||
| Q1 24 | — | $1.2B |
总资产HAEPEN
| Q4 25 | $2.5B | $1.8B | ||
| Q3 25 | $2.4B | $1.7B | ||
| Q2 25 | $2.5B | $1.7B | ||
| Q1 25 | $2.5B | $1.6B | ||
| Q4 24 | $2.5B | $1.5B | ||
| Q3 24 | $2.5B | $1.5B | ||
| Q2 24 | $2.5B | $1.5B | ||
| Q1 24 | — | $1.6B |
负债/权益比HAEPEN
| Q4 25 | 1.34× | — | ||
| Q3 25 | 1.44× | — | ||
| Q2 25 | 1.39× | — | ||
| Q1 25 | 1.49× | — | ||
| Q4 24 | — | — | ||
| 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 | $93.6M | $86.5M |
| 自由现金流经营现金流 - 资本支出 | $87.2M | $68.0M |
| 自由现金流率自由现金流/营收 | 25.7% | 17.7% |
| 资本支出强度资本支出/营收 | 1.9% | 4.8% |
| 现金转化率经营现金流/净利润 | 2.09× | 1.83× |
| 过去12个月自由现金流最近4个季度 | $308.1M | $174.9M |
8季度趋势，按日历期对齐
经营现金流HAEPEN
| Q4 25 | $93.6M | $86.5M | ||
| Q3 25 | $111.3M | $58.3M | ||
| Q2 25 | $17.4M | $44.9M | ||
| Q1 25 | $116.6M | $49.0M | ||
| Q4 24 | $43.8M | $51.1M | ||
| Q3 24 | $48.8M | $56.5M | ||
| Q2 24 | $-27.4M | $22.6M | ||
| Q1 24 | — | $38.3M |
自由现金流HAEPEN
| Q4 25 | $87.2M | $68.0M | ||
| Q3 25 | $106.3M | $42.0M | ||
| Q2 25 | $13.6M | $29.4M | ||
| Q1 25 | $100.9M | $35.5M | ||
| Q4 24 | $35.2M | $45.7M | ||
| Q3 24 | $39.4M | $51.0M | ||
| Q2 24 | $-33.1M | $18.1M | ||
| Q1 24 | — | $32.5M |
自由现金流率HAEPEN
| Q4 25 | 25.7% | 17.7% | ||
| Q3 25 | 32.5% | 11.8% | ||
| Q2 25 | 4.2% | 8.7% | ||
| Q1 25 | 30.5% | 11.0% | ||
| Q4 24 | 10.1% | 14.5% | ||
| Q3 24 | 11.4% | 16.9% | ||
| Q2 24 | -9.8% | 6.0% | ||
| Q1 24 | — | 11.7% |
资本支出强度HAEPEN
| Q4 25 | 1.9% | 4.8% | ||
| Q3 25 | 1.5% | 4.6% | ||
| Q2 25 | 1.2% | 4.6% | ||
| Q1 25 | 4.7% | 4.2% | ||
| Q4 24 | 2.5% | 1.7% | ||
| Q3 24 | 2.7% | 1.8% | ||
| Q2 24 | 1.7% | 1.5% | ||
| Q1 24 | — | 2.1% |
现金转化率HAEPEN
| Q4 25 | 2.09× | 1.83× | ||
| Q3 25 | 2.88× | 1.27× | ||
| Q2 25 | 0.51× | 0.99× | ||
| Q1 25 | 2.01× | 1.25× | ||
| Q4 24 | 1.17× | 1.52× | ||
| Q3 24 | 1.44× | 1.91× | ||
| Q2 24 | -0.71× | — | ||
| 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
HAE
| Hospital | $143.5M | 42% |
| Plasma Productsand Services | $138.9M | 41% |
| Blood Center Productsand Services | $56.6M | 17% |
PEN
| Thrombectomy | $254.7M | 66% |
| Other | $130.7M | 34% |
