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PENN Entertainment, Inc.（PENN）与Travel & Leisure Co.（TNL）财务数据对比。点击上方公司名可切换其他公司
PENN Entertainment, Inc.的季度营收约是Travel & Leisure Co.的1.9倍（$1.8B vs $961.0M），Travel & Leisure Co.净利率更高（8.2% vs -0.2%，领先8.4%），PENN Entertainment, Inc.同比增速更快（6.4% vs 2.9%），过去两年PENN Entertainment, Inc.的营收复合增速更高（3.4% vs -1.2%）
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。
Travel + Leisure Co.是一家总部位于美国佛罗里达州奥兰多的分时度假企业，旗下运营温德姆俱乐部、温德姆WorldMark、玛格丽塔维尔度假俱乐部、雅高度假俱乐部等多个度假所有权品牌，开发、销售并管理分时度假物业，同时主要通过RCI提供分时度假交换服务，还运营Travel + Leisure GO等旅行俱乐部。
PENN vs TNL — 直观对比
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $961.0M |
| 净利润 | $-2.8M | $79.0M |
| 毛利率 | — | — |
| 营业利润率 | 5.5% | 16.5% |
| 净利率 | -0.2% | 8.2% |
| 营收同比 | 6.4% | 2.9% |
| 净利润同比 | 66.7% | 8.2% |
| 每股收益（稀释后） | $-0.02 | $1.22 |
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
| Q1 26 | $1.8B | $961.0M | ||
| Q4 25 | $1.8B | $1.0B | ||
| Q3 25 | $1.7B | $1.0B | ||
| Q2 25 | $1.8B | $1.0B | ||
| Q1 25 | $1.7B | $934.0M | ||
| Q4 24 | $1.7B | $970.0M | ||
| Q3 24 | $1.6B | $993.0M | ||
| Q2 24 | $1.7B | $985.0M |
| Q1 26 | $-2.8M | $79.0M | ||
| Q4 25 | $-72.9M | $-62.0M | ||
| Q3 25 | $-864.6M | $111.0M | ||
| Q2 25 | $-17.4M | $108.0M | ||
| Q1 25 | $111.8M | $73.0M | ||
| Q4 24 | $-133.3M | $119.0M | ||
| Q3 24 | $-36.7M | $97.0M | ||
| Q2 24 | $-26.8M | $129.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 78.9% | ||
| Q3 25 | — | 98.8% | ||
| Q2 25 | — | 97.9% | ||
| Q1 25 | — | 97.5% | ||
| Q4 24 | — | 99.0% | ||
| Q3 24 | — | 97.3% | ||
| Q2 24 | — | 97.9% |
| Q1 26 | 5.5% | 16.5% | ||
| Q4 25 | -1.0% | -2.2% | ||
| Q3 25 | -45.2% | 20.5% | ||
| Q2 25 | 4.4% | 20.2% | ||
| Q1 25 | 2.6% | 16.7% | ||
| Q4 24 | -2.9% | 21.1% | ||
| Q3 24 | 4.1% | 19.0% | ||
| Q2 24 | 4.5% | 19.2% |
| Q1 26 | -0.2% | 8.2% | ||
| Q4 25 | -4.0% | -6.0% | ||
| Q3 25 | -50.3% | 10.6% | ||
| Q2 25 | -1.0% | 10.6% | ||
| Q1 25 | 6.7% | 7.8% | ||
| Q4 24 | -8.0% | 12.3% | ||
| Q3 24 | -2.2% | 9.8% | ||
| Q2 24 | -1.6% | 13.1% |
| Q1 26 | $-0.02 | $1.22 | ||
| Q4 25 | $-0.36 | $-0.92 | ||
| Q3 25 | $-6.03 | $1.67 | ||
| Q2 25 | $-0.12 | $1.62 | ||
| Q1 25 | $0.68 | $1.07 | ||
| Q4 24 | $-0.87 | $1.70 | ||
| Q3 24 | $-0.24 | $1.39 | ||
| Q2 24 | $-0.18 | $1.81 |
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 | $254.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | — |
| 总资产 | — | $6.8B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q1 26 | $708.0M | $254.0M | ||
| Q4 25 | $686.6M | $271.0M | ||
| Q3 25 | $660.1M | $240.0M | ||
| Q2 25 | $671.6M | $212.0M | ||
| Q1 25 | $591.6M | $188.0M | ||
| Q4 24 | $706.6M | $185.0M | ||
| Q3 24 | $834.0M | $194.0M | ||
| Q2 24 | $877.6M | $166.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.9B | $5.6B | ||
| Q3 25 | $2.9B | $5.6B | ||
| Q2 25 | $2.8B | $5.6B | ||
| Q1 25 | $2.6B | $5.7B | ||
| Q4 24 | $2.8B | $5.6B | ||
| Q3 24 | $2.8B | $5.6B | ||
| Q2 24 | $2.8B | $5.6B |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $-981.0M | ||
| Q3 25 | $2.0B | $-821.0M | ||
| Q2 25 | $3.0B | $-852.0M | ||
| Q1 25 | $3.0B | $-903.0M | ||
| Q4 24 | $2.9B | $-881.0M | ||
| Q3 24 | $3.1B | $-862.0M | ||
| Q2 24 | $3.1B | $-885.0M |
| Q1 26 | — | $6.8B | ||
| Q4 25 | $14.3B | $6.8B | ||
| Q3 25 | $14.3B | $6.9B | ||
| Q2 25 | $15.2B | $6.8B | ||
| Q1 25 | $15.1B | $6.8B | ||
| Q4 24 | $15.3B | $6.7B | ||
| Q3 24 | $15.5B | $6.7B | ||
| Q2 24 | $15.5B | $6.7B |
| Q1 26 | — | — | ||
| Q4 25 | 1.58× | — | ||
| Q3 25 | 1.46× | — | ||
| Q2 25 | 0.94× | — | ||
| Q1 25 | 0.89× | — | ||
| Q4 24 | 0.98× | — | ||
| Q3 24 | 0.91× | — | ||
| Q2 24 | 0.91× | — |
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 | — | $38.0M |
| 自由现金流经营现金流 - 资本支出 | — | $0 |
| 自由现金流率自由现金流/营收 | — | 0.0% |
| 资本支出强度资本支出/营收 | 5.3% | — |
| 现金转化率经营现金流/净利润 | — | 0.48× |
| 过去12个月自由现金流最近4个季度 | — | $423.0M |
8季度趋势，按日历期对齐
| Q1 26 | — | $38.0M | ||
| Q4 25 | $107.2M | $124.0M | ||
| Q3 25 | $180.9M | $163.0M | ||
| Q2 25 | $178.2M | $232.0M | ||
| Q1 25 | $41.9M | $121.0M | ||
| Q4 24 | $102.9M | $98.0M | ||
| Q3 24 | $174.7M | $145.0M | ||
| Q2 24 | $150.4M | $174.0M |
| Q1 26 | — | $0 | ||
| Q4 25 | $-83.2M | $92.0M | ||
| Q3 25 | $8.2M | $136.0M | ||
| Q2 25 | $18.8M | $195.0M | ||
| Q1 25 | $-83.3M | $100.0M | ||
| Q4 24 | $-118.1M | $75.0M | ||
| Q3 24 | $42.6M | $125.0M | ||
| Q2 24 | $62.2M | $153.0M |
| Q1 26 | — | 0.0% | ||
| Q4 25 | -4.6% | 9.0% | ||
| Q3 25 | 0.5% | 13.0% | ||
| Q2 25 | 1.1% | 19.2% | ||
| Q1 25 | -5.0% | 10.7% | ||
| Q4 24 | -7.1% | 7.7% | ||
| Q3 24 | 2.6% | 12.6% | ||
| Q2 24 | 3.7% | 15.5% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 10.5% | 3.1% | ||
| Q3 25 | 10.1% | 2.6% | ||
| Q2 25 | 9.0% | 3.6% | ||
| Q1 25 | 7.5% | 2.2% | ||
| Q4 24 | 13.2% | 2.4% | ||
| Q3 24 | 8.1% | 2.0% | ||
| Q2 24 | 5.3% | 2.1% |
| Q1 26 | — | 0.48× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | — | 2.15× | ||
| Q1 25 | 0.37× | 1.66× | ||
| Q4 24 | — | 0.82× | ||
| Q3 24 | — | 1.49× | ||
| Q2 24 | — | 1.35× |
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% |
TNL
| Other | $452.0M | 47% |
| Service and membership fees | $396.0M | 41% |
| Consumer financing | $113.0M | 12% |
