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Penumbra Inc（PEN）与世纪互联（VNET）财务数据对比。点击上方公司名可切换其他公司
Penumbra Inc的季度营收约是世纪互联的1.1倍（$385.4M vs $362.7M），Penumbra Inc净利率更高（12.3% vs -10.7%，领先22.9%），Penumbra Inc自由现金流更多（$68.0M vs $-193.1M），过去两年Penumbra Inc的营收复合增速更高（17.6% vs 17.4%）
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。
VNET Group即世纪互联，是中国领先的第三方中立数据中心服务商，提供机柜托管、云基础设施、混合云部署及网络管理等解决方案，服务覆盖科技、金融、零售等多领域企业客户，为企业数字化运营提供稳定的算力与网络支撑。
PEN vs VNET — 直观对比
营收规模更大
PEN
是对方的1.1倍
$362.7M
净利率更高
PEN
高出22.9%
-10.7%
自由现金流更多
PEN
多$261.1M
$-193.1M
两年增速更快
PEN
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $385.4M | $362.7M |
| 净利润 | $47.3M | $-38.7M |
| 毛利率 | 68.0% | 20.9% |
| 营业利润率 | 15.4% | 0.5% |
| 净利率 | 12.3% | -10.7% |
| 营收同比 | 22.1% | — |
| 净利润同比 | 40.6% | — |
| 每股收益（稀释后） | $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PENVNET
| Q4 25 | $385.4M | — | ||
| Q3 25 | $354.7M | $362.7M | ||
| Q2 25 | $339.5M | — | ||
| Q1 25 | $324.1M | $309.5M | ||
| Q4 24 | $315.5M | — | ||
| Q3 24 | $301.0M | $302.2M | ||
| Q2 24 | $299.4M | $274.4M | ||
| Q1 24 | $278.7M | $262.9M |
净利润PENVNET
| Q4 25 | $47.3M | — | ||
| Q3 25 | $45.9M | $-38.7M | ||
| Q2 25 | $45.3M | — | ||
| Q1 25 | $39.2M | $-2.4M | ||
| Q4 24 | $33.7M | — | ||
| Q3 24 | $29.5M | $-2.1M | ||
| Q2 24 | $-60.2M | $-1.1M | ||
| Q1 24 | $11.0M | $-22.0M |
毛利率PENVNET
| Q4 25 | 68.0% | — | ||
| Q3 25 | 67.8% | 20.9% | ||
| Q2 25 | 66.0% | — | ||
| Q1 25 | 66.6% | 25.2% | ||
| Q4 24 | 66.8% | — | ||
| Q3 24 | 66.5% | 23.2% | ||
| Q2 24 | 54.4% | 21.3% | ||
| Q1 24 | 65.0% | 21.6% |
营业利润率PENVNET
| Q4 25 | 15.4% | — | ||
| Q3 25 | 13.8% | 0.5% | ||
| Q2 25 | 12.0% | — | ||
| Q1 25 | 12.4% | 0.1% | ||
| Q4 24 | 13.6% | — | ||
| Q3 24 | 11.7% | 24.5% | ||
| Q2 24 | -27.0% | 0.2% | ||
| Q1 24 | 4.3% | 0.2% |
净利率PENVNET
| Q4 25 | 12.3% | — | ||
| Q3 25 | 12.9% | -10.7% | ||
| Q2 25 | 13.3% | — | ||
| Q1 25 | 12.1% | -0.8% | ||
| Q4 24 | 10.7% | — | ||
| Q3 24 | 9.8% | -0.7% | ||
| Q2 24 | -20.1% | -0.4% | ||
| Q1 24 | 3.9% | -8.4% |
每股收益（稀释后）PENVNET
| Q4 25 | $1.20 | — | ||
| Q3 25 | $1.17 | — | ||
| Q2 25 | $1.15 | — | ||
| Q1 25 | $1.00 | — | ||
| Q4 24 | $0.88 | — | ||
| Q3 24 | $0.75 | — | ||
| Q2 24 | $-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 | $186.9M | $492.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.4B | $890.8M |
| 总资产 | $1.8B | $6.1B |
| 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PENVNET
| Q4 25 | $186.9M | — | ||
| Q3 25 | $321.0M | $492.1M | ||
| Q2 25 | $421.8M | — | ||
| Q1 25 | $376.1M | $544.3M | ||
| Q4 24 | $324.4M | — | ||
| Q3 24 | $280.5M | $219.5M | ||
| Q2 24 | $288.3M | $247.2M | ||
| Q1 24 | $223.1M | $246.9M |
总债务PENVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益PENVNET
| Q4 25 | $1.4B | — | ||
| Q3 25 | $1.4B | $890.8M | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.2B | $927.8M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.1B | $902.9M | ||
| Q2 24 | $1.2B | $900.6M | ||
| Q1 24 | $1.2B | $895.1M |
总资产PENVNET
| Q4 25 | $1.8B | — | ||
| Q3 25 | $1.7B | $6.1B | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.6B | $5.4B | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | $4.3B | ||
| Q2 24 | $1.5B | $4.0B | ||
| Q1 24 | $1.6B | $3.9B |
负债/权益比PENVNET
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.28× | ||
| 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 | $86.5M | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $68.0M | $-193.1M |
| 自由现金流率自由现金流/营收 | 17.7% | -53.2% |
| 资本支出强度资本支出/营收 | 4.8% | 84.6% |
| 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 | $-589.7M |
8季度趋势，按日历期对齐
经营现金流PENVNET
| Q4 25 | $86.5M | — | ||
| Q3 25 | $58.3M | $113.8M | ||
| Q2 25 | $44.9M | — | ||
| Q1 25 | $49.0M | $27.0M | ||
| Q4 24 | $51.1M | — | ||
| Q3 24 | $56.5M | $108.3M | ||
| Q2 24 | $22.6M | $55.8M | ||
| Q1 24 | $38.3M | $37.1M |
自由现金流PENVNET
| Q4 25 | $68.0M | — | ||
| Q3 25 | $42.0M | $-193.1M | ||
| Q2 25 | $29.4M | — | ||
| Q1 25 | $35.5M | $-220.0M | ||
| Q4 24 | $45.7M | — | ||
| Q3 24 | $51.0M | $-95.0M | ||
| Q2 24 | $18.1M | $-81.6M | ||
| Q1 24 | $32.5M | $-102.2M |
自由现金流率PENVNET
| Q4 25 | 17.7% | — | ||
| Q3 25 | 11.8% | -53.2% | ||
| Q2 25 | 8.7% | — | ||
| Q1 25 | 11.0% | -71.1% | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 16.9% | -31.4% | ||
| Q2 24 | 6.0% | -29.8% | ||
| Q1 24 | 11.7% | -38.9% |
资本支出强度PENVNET
| Q4 25 | 4.8% | — | ||
| Q3 25 | 4.6% | 84.6% | ||
| Q2 25 | 4.6% | — | ||
| Q1 25 | 4.2% | 79.8% | ||
| Q4 24 | 1.7% | — | ||
| Q3 24 | 1.8% | 67.3% | ||
| Q2 24 | 1.5% | 50.1% | ||
| Q1 24 | 2.1% | 53.0% |
现金转化率PENVNET
| Q4 25 | 1.83× | — | ||
| Q3 25 | 1.27× | — | ||
| Q2 25 | 0.99× | — | ||
| Q1 25 | 1.25× | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 1.91× | — | ||
| Q2 24 | — | — | ||
| 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
PEN
| Thrombectomy | $254.7M | 66% |
| Other | $130.7M | 34% |
VNET
暂无分部数据
