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孩之宝（HAS）与PTC Inc.（PTC）财务数据对比。点击上方公司名可切换其他公司
孩之宝的季度营收约是PTC Inc.的1.9倍（$1.4B vs $774.3M），PTC Inc.净利率更高（76.3% vs 13.9%，领先62.3%），孩之宝同比增速更快（31.3% vs 21.7%），孩之宝自由现金流更多（$389.5M vs $318.0M），过去两年孩之宝的营收复合增速更高（38.2% vs 22.2%）
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
PTC是1985年成立的美国计算机软件与服务企业，总部位于马萨诸塞州波士顿。公司1988年率先推出参数化关联特征驱动的三维CAD建模软件，1998年发布基于互联网的产品生命周期管理（PLM）产品，目前面向合作伙伴与开发者提供物联网、增强现实（AR）平台及相关产品服务。
HAS vs PTC — 直观对比
营收规模更大
HAS
是对方的1.9倍
$774.3M
营收增速更快
HAS
高出9.6%
21.7%
净利率更高
PTC
高出62.3%
13.9%
自由现金流更多
HAS
多$71.5M
$318.0M
两年增速更快
HAS
近两年复合增速
22.2%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $774.3M |
| 净利润 | $201.6M | $590.7M |
| 毛利率 | 68.7% | 99.1% |
| 营业利润率 | 20.6% | 38.2% |
| 净利率 | 13.9% | 76.3% |
| 营收同比 | 31.3% | 21.7% |
| 净利润同比 | 687.8% | 141.2% |
| 每股收益（稀释后） | $1.46 | $4.98 |
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HASPTC
| Q1 26 | — | $774.3M | ||
| Q4 25 | $1.4B | $685.8M | ||
| Q3 25 | $1.4B | $893.8M | ||
| Q2 25 | $980.8M | $643.9M | ||
| Q1 25 | $887.1M | $636.4M | ||
| Q4 24 | $1.1B | $565.1M | ||
| Q3 24 | $1.3B | $626.5M | ||
| Q2 24 | $995.3M | $518.6M |
净利润HASPTC
| Q1 26 | — | $590.7M | ||
| Q4 25 | $201.6M | $166.5M | ||
| Q3 25 | $233.2M | $347.8M | ||
| Q2 25 | $-855.8M | $141.3M | ||
| Q1 25 | $98.6M | $162.6M | ||
| Q4 24 | $-34.3M | $82.2M | ||
| Q3 24 | $223.2M | $126.5M | ||
| Q2 24 | $138.5M | $69.0M |
毛利率HASPTC
| Q1 26 | — | 99.1% | ||
| Q4 25 | 68.7% | 82.8% | ||
| Q3 25 | 70.1% | 86.9% | ||
| Q2 25 | 77.0% | 82.9% | ||
| Q1 25 | 76.9% | 83.3% | ||
| Q4 24 | 67.4% | 80.2% | ||
| Q3 24 | 70.4% | 82.0% | ||
| Q2 24 | 76.1% | 78.4% |
营业利润率HASPTC
| Q1 26 | — | 38.2% | ||
| Q4 25 | 20.6% | 32.2% | ||
| Q3 25 | 24.6% | 48.5% | ||
| Q2 25 | -81.4% | 32.6% | ||
| Q1 25 | 19.2% | 35.1% | ||
| Q4 24 | 5.4% | 20.4% | ||
| Q3 24 | 23.6% | 31.0% | ||
| Q2 24 | 21.3% | 18.5% |
净利率HASPTC
| Q1 26 | — | 76.3% | ||
| Q4 25 | 13.9% | 24.3% | ||
| Q3 25 | 16.8% | 38.9% | ||
| Q2 25 | -87.3% | 21.9% | ||
| Q1 25 | 11.1% | 25.6% | ||
| Q4 24 | -3.1% | 14.6% | ||
| Q3 24 | 17.4% | 20.2% | ||
| Q2 24 | 13.9% | 13.3% |
每股收益（稀释后）HASPTC
| Q1 26 | — | $4.98 | ||
| Q4 25 | $1.46 | $1.39 | ||
| Q3 25 | $1.64 | $2.88 | ||
| Q2 25 | $-6.10 | $1.17 | ||
| Q1 25 | $0.70 | $1.35 | ||
| Q4 24 | $-0.25 | $0.68 | ||
| Q3 24 | $1.59 | $1.05 | ||
| Q2 24 | $0.99 | $0.57 |
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 | — | $439.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $565.5M | $3.9B |
| 总资产 | $5.6B | $6.5B |
| 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HASPTC
| Q1 26 | — | $439.1M | ||
| Q4 25 | — | $209.7M | ||
| Q3 25 | — | $184.4M | ||
| Q2 25 | — | $199.3M | ||
| Q1 25 | — | $235.2M | ||
| Q4 24 | — | $196.3M | ||
| Q3 24 | — | $265.8M | ||
| Q2 24 | — | $247.7M |
总债务HASPTC
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.3B |
股东权益HASPTC
| Q1 26 | — | $3.9B | ||
| Q4 25 | $565.5M | $3.8B | ||
| Q3 25 | $433.8M | $3.8B | ||
| Q2 25 | $269.7M | $3.5B | ||
| Q1 25 | $1.2B | $3.4B | ||
| Q4 24 | $1.2B | $3.2B | ||
| Q3 24 | $1.3B | $3.2B | ||
| Q2 24 | $1.2B | $3.0B |
总资产HASPTC
| Q1 26 | — | $6.5B | ||
| Q4 25 | $5.6B | $6.4B | ||
| Q3 25 | $5.5B | $6.6B | ||
| Q2 25 | $5.2B | $6.2B | ||
| Q1 25 | $6.0B | $6.2B | ||
| Q4 24 | $6.3B | $6.1B | ||
| Q3 24 | $7.2B | $6.4B | ||
| Q2 24 | $6.9B | $6.1B |
负债/权益比HASPTC
| Q1 26 | — | — | ||
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 0.34× | ||
| Q1 25 | — | 0.40× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.43× |
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 | $403.2M | $320.9M |
| 自由现金流经营现金流 - 资本支出 | $389.5M | $318.0M |
| 自由现金流率自由现金流/营收 | 26.9% | 41.1% |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | 2.00× | 0.54× |
| 过去12个月自由现金流最近4个季度 | $829.9M | $927.9M |
8季度趋势，按日历期对齐
经营现金流HASPTC
| Q1 26 | — | $320.9M | ||
| Q4 25 | $403.2M | $269.7M | ||
| Q3 25 | $280.6M | $104.0M | ||
| Q2 25 | $71.3M | $243.9M | ||
| Q1 25 | $138.1M | $281.3M | ||
| Q4 24 | $259.8M | $238.4M | ||
| Q3 24 | $222.5M | $98.1M | ||
| Q2 24 | $187.3M | $213.8M |
自由现金流HASPTC
| Q1 26 | — | $318.0M | ||
| Q4 25 | $389.5M | $267.4M | ||
| Q3 25 | $260.9M | $100.5M | ||
| Q2 25 | $55.2M | $242.0M | ||
| Q1 25 | $124.3M | $278.5M | ||
| Q4 24 | $200.8M | $235.7M | ||
| Q3 24 | $174.0M | $93.6M | ||
| Q2 24 | $135.4M | $212.2M |
自由现金流率HASPTC
| Q1 26 | — | 41.1% | ||
| Q4 25 | 26.9% | 39.0% | ||
| Q3 25 | 18.8% | 11.2% | ||
| Q2 25 | 5.6% | 37.6% | ||
| Q1 25 | 14.0% | 43.8% | ||
| Q4 24 | 18.2% | 41.7% | ||
| Q3 24 | 13.6% | 14.9% | ||
| Q2 24 | 13.6% | 40.9% |
资本支出强度HASPTC
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | 0.3% | ||
| Q3 25 | 1.4% | 0.4% | ||
| Q2 25 | 1.6% | 0.3% | ||
| Q1 25 | 1.6% | 0.4% | ||
| Q4 24 | 5.4% | 0.5% | ||
| Q3 24 | 3.8% | 0.7% | ||
| Q2 24 | 5.2% | 0.3% |
现金转化率HASPTC
| Q1 26 | — | 0.54× | ||
| Q4 25 | 2.00× | 1.62× | ||
| Q3 25 | 1.20× | 0.30× | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | 1.40× | 1.73× | ||
| Q4 24 | — | 2.90× | ||
| Q3 24 | 1.00× | 0.78× | ||
| Q2 24 | 1.35× | 3.10× |
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
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
PTC
| Recurring revenue | $743.4M | 96% |
| Other | $24.0M | 3% |
| Perpetual license | $6.9M | 1% |
