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PENN Entertainment, Inc.（PENN）与Solventum（SOLV）财务数据对比。点击上方公司名可切换其他公司
Solventum的季度营收约是PENN Entertainment, Inc.的1.1倍（$2.0B vs $1.8B），Solventum净利率更高（3.2% vs -0.2%，领先3.3%），PENN Entertainment, Inc.同比增速更快（6.4% vs -3.7%），过去两年PENN Entertainment, Inc.的营收复合增速更高（3.4% vs -0.4%）
Penn Entertainment, Inc.（前称宾州国家博彩）是美国知名娱乐企业，业务涵盖综合娱乐运营、体育内容供给及赌场博彩服务，旗下运营好莱坞赌场、Ameristar、Boomtown等品牌，在全美20个州拥有43处经营场所，同时持有加拿大数字媒体企业Score Media and Gaming的所有权。
Solventum是一家总部位于美国的医疗健康企业，于2024年4月1日正式从全球知名多元化工业集团3M分拆后独立运营，继承了原3M旗下医疗板块的技术积累与业务资源，面向全球市场提供专业医疗相关产品及服务。
PENN vs SOLV — 直观对比
营收规模更大
SOLV
是对方的1.1倍
$1.8B
营收增速更快
PENN
高出10.1%
-3.7%
净利率更高
SOLV
高出3.3%
-0.2%
两年增速更快
PENN
近两年复合增速
-0.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $2.0B |
| 净利润 | $-2.8M | $63.0M |
| 毛利率 | — | 51.4% |
| 营业利润率 | 5.5% | 6.3% |
| 净利率 | -0.2% | 3.2% |
| 营收同比 | 6.4% | -3.7% |
| 净利润同比 | 66.7% | 103.2% |
| 每股收益（稀释后） | $-0.02 | $0.37 |
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PENNSOLV
| Q1 26 | $1.8B | — | ||
| Q4 25 | $1.8B | $2.0B | ||
| Q3 25 | $1.7B | $2.1B | ||
| Q2 25 | $1.8B | $2.2B | ||
| Q1 25 | $1.7B | $2.1B | ||
| Q4 24 | $1.7B | $2.1B | ||
| Q3 24 | $1.6B | $2.1B | ||
| Q2 24 | $1.7B | $2.1B |
净利润PENNSOLV
| Q1 26 | $-2.8M | — | ||
| Q4 25 | $-72.9M | $63.0M | ||
| Q3 25 | $-864.6M | $1.3B | ||
| Q2 25 | $-17.4M | $90.0M | ||
| Q1 25 | $111.8M | $137.0M | ||
| Q4 24 | $-133.3M | $31.0M | ||
| Q3 24 | $-36.7M | $122.0M | ||
| Q2 24 | $-26.8M | $89.0M |
毛利率PENNSOLV
| Q1 26 | — | — | ||
| Q4 25 | — | 51.4% | ||
| Q3 25 | — | 54.2% | ||
| Q2 25 | — | 54.4% | ||
| Q1 25 | — | 53.8% | ||
| Q4 24 | — | 53.9% | ||
| Q3 24 | — | 56.0% | ||
| Q2 24 | — | 54.6% |
营业利润率PENNSOLV
| Q1 26 | 5.5% | — | ||
| Q4 25 | -1.0% | 6.3% | ||
| Q3 25 | -45.2% | 80.6% | ||
| Q2 25 | 4.4% | 9.9% | ||
| Q1 25 | 2.6% | 7.3% | ||
| Q4 24 | -2.9% | 6.6% | ||
| Q3 24 | 4.1% | 13.2% | ||
| Q2 24 | 4.5% | 11.7% |
净利率PENNSOLV
| Q1 26 | -0.2% | — | ||
| Q4 25 | -4.0% | 3.2% | ||
| Q3 25 | -50.3% | 60.4% | ||
| Q2 25 | -1.0% | 4.2% | ||
| Q1 25 | 6.7% | 6.6% | ||
| Q4 24 | -8.0% | 1.5% | ||
| Q3 24 | -2.2% | 5.9% | ||
| Q2 24 | -1.6% | 4.3% |
每股收益（稀释后）PENNSOLV
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $-0.36 | $0.37 | ||
| Q3 25 | $-6.03 | $7.22 | ||
| Q2 25 | $-0.12 | $0.51 | ||
| Q1 25 | $0.68 | $0.78 | ||
| Q4 24 | $-0.87 | $0.18 | ||
| Q3 24 | $-0.24 | $0.70 | ||
| Q2 24 | $-0.18 | $0.51 |
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 | $708.0M | $878.0M |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | — | $5.0B |
| 总资产 | — | $14.3B |
| 负债/权益比越低杠杆越低 | — | 1.00× |
8季度趋势，按日历期对齐
现金及短期投资PENNSOLV
| Q1 26 | $708.0M | — | ||
| Q4 25 | $686.6M | $878.0M | ||
| Q3 25 | $660.1M | $1.6B | ||
| Q2 25 | $671.6M | $492.0M | ||
| Q1 25 | $591.6M | $534.0M | ||
| Q4 24 | $706.6M | $762.0M | ||
| Q3 24 | $834.0M | $772.0M | ||
| Q2 24 | $877.6M | $897.0M |
总债务PENNSOLV
| Q1 26 | — | — | ||
| Q4 25 | $2.9B | $5.0B | ||
| Q3 25 | $2.9B | $5.1B | ||
| Q2 25 | $2.8B | $7.8B | ||
| Q1 25 | $2.6B | $7.9B | ||
| Q4 24 | $2.8B | $8.0B | ||
| Q3 24 | $2.8B | $8.1B | ||
| Q2 24 | $2.8B | $8.3B |
股东权益PENNSOLV
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $5.0B | ||
| Q3 25 | $2.0B | $5.0B | ||
| Q2 25 | $3.0B | $3.6B | ||
| Q1 25 | $3.0B | $3.3B | ||
| Q4 24 | $2.9B | $3.0B | ||
| Q3 24 | $3.1B | $3.2B | ||
| Q2 24 | $3.1B | $2.9B |
总资产PENNSOLV
| Q1 26 | — | — | ||
| Q4 25 | $14.3B | $14.3B | ||
| Q3 25 | $14.3B | $14.0B | ||
| Q2 25 | $15.2B | $15.1B | ||
| Q1 25 | $15.1B | $14.5B | ||
| Q4 24 | $15.3B | $14.5B | ||
| Q3 24 | $15.5B | $14.7B | ||
| Q2 24 | $15.5B | $14.6B |
负债/权益比PENNSOLV
| Q1 26 | — | — | ||
| Q4 25 | 1.58× | 1.00× | ||
| Q3 25 | 1.46× | 1.03× | ||
| Q2 25 | 0.94× | 2.14× | ||
| Q1 25 | 0.89× | 2.43× | ||
| Q4 24 | 0.98× | 2.71× | ||
| Q3 24 | 0.91× | 2.54× | ||
| Q2 24 | 0.91× | 2.90× |
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 | — | $95.0M |
| 自由现金流经营现金流 - 资本支出 | — | $32.0M |
| 自由现金流率自由现金流/营收 | — | 1.6% |
| 资本支出强度资本支出/营收 | 5.3% | 3.2% |
| 现金转化率经营现金流/净利润 | — | 1.51× |
| 过去12个月自由现金流最近4个季度 | — | $-10.0M |
8季度趋势，按日历期对齐
经营现金流PENNSOLV
| Q1 26 | — | — | ||
| Q4 25 | $107.2M | $95.0M | ||
| Q3 25 | $180.9M | $76.0M | ||
| Q2 25 | $178.2M | $169.0M | ||
| Q1 25 | $41.9M | $29.0M | ||
| Q4 24 | $102.9M | $219.0M | ||
| Q3 24 | $174.7M | $169.0M | ||
| Q2 24 | $150.4M | $355.0M |
自由现金流PENNSOLV
| Q1 26 | — | — | ||
| Q4 25 | $-83.2M | $32.0M | ||
| Q3 25 | $8.2M | $-21.0M | ||
| Q2 25 | $18.8M | $59.0M | ||
| Q1 25 | $-83.3M | $-80.0M | ||
| Q4 24 | $-118.1M | $92.0M | ||
| Q3 24 | $42.6M | $76.0M | ||
| Q2 24 | $62.2M | $297.0M |
自由现金流率PENNSOLV
| Q1 26 | — | — | ||
| Q4 25 | -4.6% | 1.6% | ||
| Q3 25 | 0.5% | -1.0% | ||
| Q2 25 | 1.1% | 2.7% | ||
| Q1 25 | -5.0% | -3.9% | ||
| Q4 24 | -7.1% | 4.4% | ||
| Q3 24 | 2.6% | 3.7% | ||
| Q2 24 | 3.7% | 14.3% |
资本支出强度PENNSOLV
| Q1 26 | 5.3% | — | ||
| Q4 25 | 10.5% | 3.2% | ||
| Q3 25 | 10.1% | 4.6% | ||
| Q2 25 | 9.0% | 5.1% | ||
| Q1 25 | 7.5% | 5.3% | ||
| Q4 24 | 13.2% | 6.1% | ||
| Q3 24 | 8.1% | 4.5% | ||
| Q2 24 | 5.3% | 2.8% |
现金转化率PENNSOLV
| Q1 26 | — | — | ||
| Q4 25 | — | 1.51× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 1.88× | ||
| Q1 25 | 0.37× | 0.21× | ||
| Q4 24 | — | 7.06× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | — | 3.99× |
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
PENN
| Northeast segment (1) | $687.1M | 39% |
| Interactive (5) | $290.1M | 16% |
| South segment (2) | $288.3M | 16% |
| Midwest segment (4) | $282.9M | 16% |
| West segment (3) | $129.7M | 7% |
| Other | $101.0M | 6% |
SOLV
| Infection Prevention And Surgical Solutions | $752.0M | 38% |
| Cost Of Software And Rentals | $508.0M | 25% |
| Health Information Systems Segment | $347.0M | 17% |
| Dental Solutions Segment | $343.0M | 17% |
| Related Party | $14.0M | 1% |
