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Penumbra Inc（PEN）与Ryman Hospitality Properties, Inc.（RHP）财务数据对比。点击上方公司名可切换其他公司
Ryman Hospitality Properties, Inc.的季度营收约是Penumbra Inc的1.9倍（$737.8M vs $385.4M），Penumbra Inc净利率更高（12.3% vs 10.1%，领先2.2%），Penumbra Inc同比增速更快（22.1% vs 13.9%），Penumbra Inc自由现金流更多（$68.0M vs $58.5M），过去两年Ryman Hospitality Properties, Inc.的营收复合增速更高（18.2% vs 17.6%）
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。
莱曼酒店地产是一家主营酒店、度假村、娱乐及媒体业务的企业，得名于旗下位于田纳西州纳什维尔的国家历史地标莱曼礼堂。公司历史可追溯至曾为俄克拉荷马出版公司子公司时期，1983年收购WSM公司后奠定现代业务基础，同时将知名演出IP大奥普里等核心资产纳入麾下。
PEN vs RHP — 直观对比
营收规模更大
RHP
是对方的1.9倍
$385.4M
营收增速更快
PEN
高出8.2%
13.9%
净利率更高
PEN
高出2.2%
10.1%
自由现金流更多
PEN
多$9.5M
$58.5M
两年增速更快
RHP
近两年复合增速
17.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $385.4M | $737.8M |
| 净利润 | $47.3M | $74.5M |
| 毛利率 | 68.0% | 41.4% |
| 营业利润率 | 15.4% | 19.4% |
| 净利率 | 12.3% | 10.1% |
| 营收同比 | 22.1% | 13.9% |
| 净利润同比 | 40.6% | 3.0% |
| 每股收益（稀释后） | $1.20 | $1.12 |
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PENRHP
| Q4 25 | $385.4M | $737.8M | ||
| Q3 25 | $354.7M | $592.5M | ||
| Q2 25 | $339.5M | $659.5M | ||
| Q1 25 | $324.1M | $587.3M | ||
| Q4 24 | $315.5M | $647.6M | ||
| Q3 24 | $301.0M | $550.0M | ||
| Q2 24 | $299.4M | $613.3M | ||
| Q1 24 | $278.7M | $528.3M |
净利润PENRHP
| Q4 25 | $47.3M | $74.5M | ||
| Q3 25 | $45.9M | $34.9M | ||
| Q2 25 | $45.3M | $71.8M | ||
| Q1 25 | $39.2M | $63.0M | ||
| Q4 24 | $33.7M | $72.3M | ||
| Q3 24 | $29.5M | $59.0M | ||
| Q2 24 | $-60.2M | $100.8M | ||
| Q1 24 | $11.0M | $42.8M |
毛利率PENRHP
| Q4 25 | 68.0% | 41.4% | ||
| Q3 25 | 67.8% | 40.9% | ||
| Q2 25 | 66.0% | 49.7% | ||
| Q1 25 | 66.6% | 44.4% | ||
| Q4 24 | 66.8% | 40.4% | ||
| Q3 24 | 66.5% | 43.1% | ||
| Q2 24 | 54.4% | 48.4% | ||
| Q1 24 | 65.0% | 41.5% |
营业利润率PENRHP
| Q4 25 | 15.4% | 19.4% | ||
| Q3 25 | 13.8% | 15.0% | ||
| Q2 25 | 12.0% | 21.1% | ||
| Q1 25 | 12.4% | 19.8% | ||
| Q4 24 | 13.6% | 18.6% | ||
| Q3 24 | 11.7% | 19.3% | ||
| Q2 24 | -27.0% | 27.4% | ||
| Q1 24 | 4.3% | 18.2% |
净利率PENRHP
| Q4 25 | 12.3% | 10.1% | ||
| Q3 25 | 12.9% | 5.9% | ||
| Q2 25 | 13.3% | 10.9% | ||
| Q1 25 | 12.1% | 10.7% | ||
| Q4 24 | 10.7% | 11.2% | ||
| Q3 24 | 9.8% | 10.7% | ||
| Q2 24 | -20.1% | 16.4% | ||
| Q1 24 | 3.9% | 8.1% |
每股收益（稀释后）PENRHP
| Q4 25 | $1.20 | $1.12 | ||
| Q3 25 | $1.17 | $0.53 | ||
| Q2 25 | $1.15 | $1.12 | ||
| Q1 25 | $1.00 | $1.00 | ||
| Q4 24 | $0.88 | $1.12 | ||
| Q3 24 | $0.75 | $0.94 | ||
| Q2 24 | $-1.55 | $1.65 | ||
| Q1 24 | $0.28 | $0.67 |
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 | $186.9M | $471.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $750.2M |
| 总资产 | $1.8B | $6.2B |
| 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PENRHP
| Q4 25 | $186.9M | $471.4M | ||
| Q3 25 | $321.0M | $483.3M | ||
| Q2 25 | $421.8M | $420.6M | ||
| Q1 25 | $376.1M | $413.9M | ||
| Q4 24 | $324.4M | $477.7M | ||
| Q3 24 | $280.5M | $534.9M | ||
| Q2 24 | $288.3M | $498.4M | ||
| Q1 24 | $223.1M | $465.3M |
股东权益PENRHP
| Q4 25 | $1.4B | $750.2M | ||
| Q3 25 | $1.4B | $758.5M | ||
| Q2 25 | $1.3B | $800.4M | ||
| Q1 25 | $1.2B | $531.5M | ||
| Q4 24 | $1.2B | $549.0M | ||
| Q3 24 | $1.1B | $551.9M | ||
| Q2 24 | $1.2B | $562.6M | ||
| Q1 24 | $1.2B | $529.9M |
总资产PENRHP
| Q4 25 | $1.8B | $6.2B | ||
| Q3 25 | $1.7B | $6.2B | ||
| Q2 25 | $1.7B | $6.1B | ||
| Q1 25 | $1.6B | $5.2B | ||
| Q4 24 | $1.5B | $5.2B | ||
| Q3 24 | $1.5B | $5.2B | ||
| Q2 24 | $1.5B | $5.1B | ||
| Q1 24 | $1.6B | $5.1B |
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 | $164.7M |
| 自由现金流经营现金流 - 资本支出 | $68.0M | $58.5M |
| 自由现金流率自由现金流/营收 | 17.7% | 7.9% |
| 资本支出强度资本支出/营收 | 4.8% | 14.4% |
| 现金转化率经营现金流/净利润 | 1.83× | 2.21× |
| 过去12个月自由现金流最近4个季度 | $174.9M | $232.4M |
8季度趋势，按日历期对齐
经营现金流PENRHP
| Q4 25 | $86.5M | $164.7M | ||
| Q3 25 | $58.3M | $205.2M | ||
| Q2 25 | $44.9M | $122.5M | ||
| Q1 25 | $49.0M | $98.2M | ||
| Q4 24 | $51.1M | $166.6M | ||
| Q3 24 | $56.5M | $218.1M | ||
| Q2 24 | $22.6M | $184.3M | ||
| Q1 24 | $38.3M | $7.5M |
自由现金流PENRHP
| Q4 25 | $68.0M | $58.5M | ||
| Q3 25 | $42.0M | $135.4M | ||
| Q2 25 | $29.4M | $53.0M | ||
| Q1 25 | $35.5M | $-14.5M | ||
| Q4 24 | $45.7M | $76.0M | ||
| Q3 24 | $51.0M | $85.7M | ||
| Q2 24 | $18.1M | $78.8M | ||
| Q1 24 | $32.5M | $-72.0M |
自由现金流率PENRHP
| Q4 25 | 17.7% | 7.9% | ||
| Q3 25 | 11.8% | 22.9% | ||
| Q2 25 | 8.7% | 8.0% | ||
| Q1 25 | 11.0% | -2.5% | ||
| Q4 24 | 14.5% | 11.7% | ||
| Q3 24 | 16.9% | 15.6% | ||
| Q2 24 | 6.0% | 12.9% | ||
| Q1 24 | 11.7% | -13.6% |
资本支出强度PENRHP
| Q4 25 | 4.8% | 14.4% | ||
| Q3 25 | 4.6% | 11.8% | ||
| Q2 25 | 4.6% | 10.5% | ||
| Q1 25 | 4.2% | 19.2% | ||
| Q4 24 | 1.7% | 14.0% | ||
| Q3 24 | 1.8% | 24.1% | ||
| Q2 24 | 1.5% | 17.2% | ||
| Q1 24 | 2.1% | 15.0% |
现金转化率PENRHP
| Q4 25 | 1.83× | 2.21× | ||
| Q3 25 | 1.27× | 5.88× | ||
| Q2 25 | 0.99× | 1.71× | ||
| Q1 25 | 1.25× | 1.56× | ||
| Q4 24 | 1.52× | 2.30× | ||
| Q3 24 | 1.91× | 3.70× | ||
| Q2 24 | — | 1.83× | ||
| Q1 24 | 3.48× | 0.17× |
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
PEN
| Thrombectomy | $254.7M | 66% |
| Other | $130.7M | 34% |
RHP
| Hotel Other | $157.7M | 21% |
| Gaylord Opryland | $147.4M | 20% |
| Hotel Transient Rooms | $93.6M | 13% |
| Hotel Food And Beverage Outlets | $92.2M | 12% |
| Gaylord Palms | $88.2M | 12% |
| Jw Marriott Hill Country | $53.7M | 7% |
| Entertainment Admissions And Ticketing | $43.1M | 6% |
| Entertainment Food And Beverage | $38.1M | 5% |
| Entertainment Retail And Other | $28.3M | 4% |
| Ac Hotel | $2.4M | 0% |
