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Penumbra Inc（PEN）与BOSTON BEER CO INC（SAM）财务数据对比。点击上方公司名可切换其他公司
BOSTON BEER CO INC的季度营收约是Penumbra Inc的1.2倍（$461.6M vs $385.4M），Penumbra Inc同比增速更快（22.1% vs -4.1%），过去两年Penumbra Inc的营收复合增速更高（17.6% vs -10.7%）
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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
PEN vs SAM — 直观对比
营收规模更大
SAM
是对方的1.2倍
$385.4M
营收增速更快
PEN
高出26.3%
-4.1%
两年增速更快
PEN
近两年复合增速
-10.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $385.4M | $461.6M |
| 净利润 | $47.3M | — |
| 毛利率 | 68.0% | 46.4% |
| 营业利润率 | 15.4% | 12.4% |
| 净利率 | 12.3% | — |
| 营收同比 | 22.1% | -4.1% |
| 净利润同比 | 40.6% | — |
| 每股收益（稀释后） | $1.20 | $2.16 |
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PENSAM
| Q1 26 | — | $461.6M | ||
| Q4 25 | $385.4M | $385.7M | ||
| Q3 25 | $354.7M | $537.5M | ||
| Q2 25 | $339.5M | $587.9M | ||
| Q1 25 | $324.1M | $453.9M | ||
| Q4 24 | $315.5M | $402.3M | ||
| Q3 24 | $301.0M | $605.5M | ||
| Q2 24 | $299.4M | $579.1M |
净利润PENSAM
| Q1 26 | — | — | ||
| Q4 25 | $47.3M | $-22.5M | ||
| Q3 25 | $45.9M | $46.2M | ||
| Q2 25 | $45.3M | $60.4M | ||
| Q1 25 | $39.2M | $24.4M | ||
| Q4 24 | $33.7M | $-38.8M | ||
| Q3 24 | $29.5M | $33.5M | ||
| Q2 24 | $-60.2M | $52.3M |
毛利率PENSAM
| Q1 26 | — | 46.4% | ||
| Q4 25 | 68.0% | 43.5% | ||
| Q3 25 | 67.8% | 50.8% | ||
| Q2 25 | 66.0% | 49.8% | ||
| Q1 25 | 66.6% | 48.3% | ||
| Q4 24 | 66.8% | 39.9% | ||
| Q3 24 | 66.5% | 46.3% | ||
| Q2 24 | 54.4% | 46.0% |
营业利润率PENSAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | 15.4% | -8.6% | ||
| Q3 25 | 13.8% | 11.5% | ||
| Q2 25 | 12.0% | 14.0% | ||
| Q1 25 | 12.4% | 7.4% | ||
| Q4 24 | 13.6% | -13.9% | ||
| Q3 24 | 11.7% | 7.6% | ||
| Q2 24 | -27.0% | 12.2% |
净利率PENSAM
| Q1 26 | — | — | ||
| Q4 25 | 12.3% | -5.8% | ||
| Q3 25 | 12.9% | 8.6% | ||
| Q2 25 | 13.3% | 10.3% | ||
| Q1 25 | 12.1% | 5.4% | ||
| Q4 24 | 10.7% | -9.6% | ||
| Q3 24 | 9.8% | 5.5% | ||
| Q2 24 | -20.1% | 9.0% |
每股收益（稀释后）PENSAM
| Q1 26 | — | $2.16 | ||
| Q4 25 | $1.20 | $-1.97 | ||
| Q3 25 | $1.17 | $4.25 | ||
| Q2 25 | $1.15 | $5.45 | ||
| Q1 25 | $1.00 | $2.16 | ||
| Q4 24 | $0.88 | $-3.23 | ||
| Q3 24 | $0.75 | $2.86 | ||
| Q2 24 | $-1.55 | $4.39 |
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 | $164.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $682.6M |
| 总资产 | $1.8B | $1.2B |
| 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PENSAM
| Q1 26 | — | $164.1M | ||
| Q4 25 | $186.9M | $223.4M | ||
| Q3 25 | $321.0M | $250.5M | ||
| Q2 25 | $421.8M | $212.4M | ||
| Q1 25 | $376.1M | $152.5M | ||
| Q4 24 | $324.4M | $211.8M | ||
| Q3 24 | $280.5M | $255.6M | ||
| Q2 24 | $288.3M | $219.3M |
股东权益PENSAM
| Q1 26 | — | $682.6M | ||
| Q4 25 | $1.4B | $846.3M | ||
| Q3 25 | $1.4B | $911.0M | ||
| Q2 25 | $1.3B | $912.3M | ||
| Q1 25 | $1.2B | $897.0M | ||
| Q4 24 | $1.2B | $916.2M | ||
| Q3 24 | $1.1B | $1.0B | ||
| Q2 24 | $1.2B | $1.0B |
总资产PENSAM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | $1.7B | $1.3B | ||
| Q1 25 | $1.6B | $1.2B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $1.5B | $1.4B | ||
| Q2 24 | $1.5B | $1.4B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $68.0M | — |
| 自由现金流率自由现金流/营收 | 17.7% | — |
| 资本支出强度资本支出/营收 | 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 | $174.9M | — |
8季度趋势，按日历期对齐
经营现金流PENSAM
| Q1 26 | — | — | ||
| Q4 25 | $86.5M | $39.9M | ||
| Q3 25 | $58.3M | $101.8M | ||
| Q2 25 | $44.9M | $126.5M | ||
| Q1 25 | $49.0M | $1.9M | ||
| Q4 24 | $51.1M | $41.9M | ||
| Q3 24 | $56.5M | $115.9M | ||
| Q2 24 | $22.6M | $96.0M |
自由现金流PENSAM
| Q1 26 | — | — | ||
| Q4 25 | $68.0M | $22.1M | ||
| Q3 25 | $42.0M | $89.2M | ||
| Q2 25 | $29.4M | $112.2M | ||
| Q1 25 | $35.5M | $-8.0M | ||
| Q4 24 | $45.7M | $18.4M | ||
| Q3 24 | $51.0M | $99.2M | ||
| Q2 24 | $18.1M | $75.6M |
自由现金流率PENSAM
| Q1 26 | — | — | ||
| Q4 25 | 17.7% | 5.7% | ||
| Q3 25 | 11.8% | 16.6% | ||
| Q2 25 | 8.7% | 19.1% | ||
| Q1 25 | 11.0% | -1.8% | ||
| Q4 24 | 14.5% | 4.6% | ||
| Q3 24 | 16.9% | 16.4% | ||
| Q2 24 | 6.0% | 13.1% |
资本支出强度PENSAM
| Q1 26 | — | — | ||
| Q4 25 | 4.8% | 4.6% | ||
| Q3 25 | 4.6% | 2.3% | ||
| Q2 25 | 4.6% | 2.4% | ||
| Q1 25 | 4.2% | 2.2% | ||
| Q4 24 | 1.7% | 5.8% | ||
| Q3 24 | 1.8% | 2.8% | ||
| Q2 24 | 1.5% | 3.5% |
现金转化率PENSAM
| Q1 26 | — | — | ||
| Q4 25 | 1.83× | — | ||
| Q3 25 | 1.27× | 2.21× | ||
| Q2 25 | 0.99× | 2.09× | ||
| Q1 25 | 1.25× | 0.08× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 1.91× | 3.46× | ||
| Q2 24 | — | 1.83× |
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% |
SAM
暂无分部数据
