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PENN Entertainment, Inc.（PENN）与Tennessee Valley Authority（TVE）财务数据对比。点击上方公司名可切换其他公司
Tennessee Valley Authority的季度营收约是PENN Entertainment, Inc.的1.7倍（$3.0B vs $1.8B），Tennessee Valley Authority净利率更高（8.7% vs -0.2%，领先8.9%），PENN Entertainment, Inc.同比增速更快（6.4% vs 4.4%），过去两年PENN Entertainment, Inc.的营收复合增速更高（3.4% vs -1.7%）
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。
田纳西河流域管理局（TVA）是美国联邦政府所有的电力公用事业企业，服务范围覆盖田纳西州全境，以及阿拉巴马州、密西西比州、肯塔基州的部分区域，还涵盖佐治亚州、北卡罗来纳州、弗吉尼亚州的小块区域。该企业虽归属联邦政府，但不依赖纳税人资金运营，运营模式与私营盈利企业类似，总部位于田纳西州诺克斯维尔。
PENN vs TVE — 直观对比
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $3.0B |
| 净利润 | $-2.8M | $266.0M |
| 毛利率 | — | — |
| 营业利润率 | 5.5% | 18.1% |
| 净利率 | -0.2% | 8.7% |
| 营收同比 | 6.4% | 4.4% |
| 净利润同比 | 66.7% | 112.8% |
| 每股收益（稀释后） | $-0.02 | — |
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 | — | ||
| Q4 25 | $1.8B | $3.0B | ||
| Q3 25 | $1.7B | $3.9B | ||
| Q2 25 | $1.8B | $3.3B | ||
| Q1 25 | $1.7B | $3.5B | ||
| Q4 24 | $1.7B | $2.9B | ||
| Q3 24 | $1.6B | $3.5B | ||
| Q2 24 | $1.7B | $2.9B |
| Q1 26 | $-2.8M | — | ||
| Q4 25 | $-72.9M | $266.0M | ||
| Q3 25 | $-864.6M | $615.0M | ||
| Q2 25 | $-17.4M | $212.0M | ||
| Q1 25 | $111.8M | $408.0M | ||
| Q4 24 | $-133.3M | $125.0M | ||
| Q3 24 | $-36.7M | $520.0M | ||
| Q2 24 | $-26.8M | $181.0M |
| Q1 26 | 5.5% | — | ||
| Q4 25 | -1.0% | 18.1% | ||
| Q3 25 | -45.2% | 23.6% | ||
| Q2 25 | 4.4% | 15.6% | ||
| Q1 25 | 2.6% | 20.3% | ||
| Q4 24 | -2.9% | 14.1% | ||
| Q3 24 | 4.1% | 22.7% | ||
| Q2 24 | 4.5% | 15.9% |
| Q1 26 | -0.2% | — | ||
| Q4 25 | -4.0% | 8.7% | ||
| Q3 25 | -50.3% | 15.7% | ||
| Q2 25 | -1.0% | 6.4% | ||
| Q1 25 | 6.7% | 11.6% | ||
| Q4 24 | -8.0% | 4.3% | ||
| Q3 24 | -2.2% | 14.8% | ||
| Q2 24 | -1.6% | 6.3% |
| Q1 26 | $-0.02 | — | ||
| Q4 25 | $-0.36 | — | ||
| Q3 25 | $-6.03 | — | ||
| Q2 25 | $-0.12 | — | ||
| Q1 25 | $0.68 | — | ||
| Q4 24 | $-0.87 | — | ||
| Q3 24 | $-0.24 | — | ||
| Q2 24 | $-0.18 | — |
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 | $501.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | — |
| 总资产 | — | $59.5B |
| 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 | — | ||
| Q4 25 | $686.6M | $501.0M | ||
| Q3 25 | $660.1M | $1.6B | ||
| Q2 25 | $671.6M | $501.0M | ||
| Q1 25 | $591.6M | $502.0M | ||
| Q4 24 | $706.6M | $507.0M | ||
| Q3 24 | $834.0M | $502.0M | ||
| Q2 24 | $877.6M | $501.0M |
| Q1 26 | — | — | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | $2.9B | $22.1B | ||
| Q2 25 | $2.8B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | $2.8B | $19.1B | ||
| Q2 24 | $2.8B | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $2.9B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — |
| Q1 26 | — | — | ||
| Q4 25 | $14.3B | $59.5B | ||
| Q3 25 | $14.3B | $60.9B | ||
| Q2 25 | $15.2B | $59.9B | ||
| Q1 25 | $15.1B | $59.3B | ||
| Q4 24 | $15.3B | $58.4B | ||
| Q3 24 | $15.5B | $57.7B | ||
| Q2 24 | $15.5B | $56.2B |
| 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 | — | $330.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-814.0M |
| 自由现金流率自由现金流/营收 | — | -26.7% |
| 资本支出强度资本支出/营收 | 5.3% | 37.5% |
| 现金转化率经营现金流/净利润 | — | 1.24× |
| 过去12个月自由现金流最近4个季度 | — | $-1.2B |
8季度趋势，按日历期对齐
| Q1 26 | — | — | ||
| Q4 25 | $107.2M | $330.0M | ||
| Q3 25 | $180.9M | $1.2B | ||
| Q2 25 | $178.2M | $615.0M | ||
| Q1 25 | $41.9M | $1.0B | ||
| Q4 24 | $102.9M | $450.0M | ||
| Q3 24 | $174.7M | $1.1B | ||
| Q2 24 | $150.4M | $508.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-83.2M | $-814.0M | ||
| Q3 25 | $8.2M | $233.0M | ||
| Q2 25 | $18.8M | $-431.0M | ||
| Q1 25 | $-83.3M | $-176.0M | ||
| Q4 24 | $-118.1M | $-759.0M | ||
| Q3 24 | $42.6M | $164.0M | ||
| Q2 24 | $62.2M | $-248.0M |
| Q1 26 | — | — | ||
| Q4 25 | -4.6% | -26.7% | ||
| Q3 25 | 0.5% | 6.0% | ||
| Q2 25 | 1.1% | -13.0% | ||
| Q1 25 | -5.0% | -5.0% | ||
| Q4 24 | -7.1% | -26.0% | ||
| Q3 24 | 2.6% | 4.7% | ||
| Q2 24 | 3.7% | -8.6% |
| Q1 26 | 5.3% | — | ||
| Q4 25 | 10.5% | 37.5% | ||
| Q3 25 | 10.1% | 25.9% | ||
| Q2 25 | 9.0% | 31.6% | ||
| Q1 25 | 7.5% | 33.6% | ||
| Q4 24 | 13.2% | 41.4% | ||
| Q3 24 | 8.1% | 25.6% | ||
| Q2 24 | 5.3% | 26.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.24× | ||
| Q3 25 | — | 2.03× | ||
| Q2 25 | — | 2.90× | ||
| Q1 25 | 0.37× | 2.48× | ||
| Q4 24 | — | 3.60× | ||
| Q3 24 | — | 2.05× | ||
| Q2 24 | — | 2.81× |
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% |
TVE
| TN | $2.0B | 65% |
| AL | $449.0M | 15% |
| MS | $266.0M | 9% |
| KY | $193.0M | 6% |
| GA | $75.0M | 2% |
| Federal Agencies And Other | $29.0M | 1% |
| NC | $23.0M | 1% |
| VA | $12.0M | 0% |
| Off System Sales Member | $2.0M | 0% |
