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PennyMac Financial Services, Inc.（PFSI）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
PennyMac Financial Services, Inc.的季度营收约是BOSTON BEER CO INC的1.2倍（$538.0M vs $461.6M），PennyMac Financial Services, Inc.同比增速更快（14.4% vs -4.1%），过去两年PennyMac Financial Services, Inc.的营收复合增速更高（32.7% vs -10.7%）
PennyMac Financial Services是总部位于美国加利福尼亚州西湖村的住宅抵押贷款企业，核心业务涵盖美国抵押贷款的发放、贷后服务，以及抵押贷款市场相关投资管理。公司下设两家子公司，其中PNMAC资本管理有限公司负责运营旗下的抵押贷款不动产投资信托（REIT）PennyMac Mortgage Investment Trust。
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。
PFSI vs SAM — 直观对比
营收规模更大
PFSI
是对方的1.2倍
$461.6M
营收增速更快
PFSI
高出18.6%
-4.1%
两年增速更快
PFSI
近两年复合增速
-10.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $538.0M | $461.6M |
| 净利润 | $106.8M | — |
| 毛利率 | — | 46.4% |
| 营业利润率 | 25.0% | 12.4% |
| 净利率 | 1752.5% | — |
| 营收同比 | 14.4% | -4.1% |
| 净利润同比 | 2.2% | — |
| 每股收益（稀释后） | $1.97 | $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PFSISAM
| Q1 26 | — | $461.6M | ||
| Q4 25 | $538.0M | $385.7M | ||
| Q3 25 | $632.9M | $537.5M | ||
| Q2 25 | $444.7M | $587.9M | ||
| Q1 25 | $430.9M | $453.9M | ||
| Q4 24 | $470.1M | $402.3M | ||
| Q3 24 | $411.8M | $605.5M | ||
| Q2 24 | $406.1M | $579.1M |
净利润PFSISAM
| Q1 26 | — | — | ||
| Q4 25 | $106.8M | $-22.5M | ||
| Q3 25 | $181.5M | $46.2M | ||
| Q2 25 | $136.5M | $60.4M | ||
| Q1 25 | $76.3M | $24.4M | ||
| Q4 24 | $104.5M | $-38.8M | ||
| Q3 24 | $69.4M | $33.5M | ||
| Q2 24 | $98.3M | $52.3M |
毛利率PFSISAM
| Q1 26 | — | 46.4% | ||
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 50.8% | ||
| Q2 25 | — | 49.8% | ||
| Q1 25 | — | 48.3% | ||
| Q4 24 | — | 39.9% | ||
| Q3 24 | — | 46.3% | ||
| Q2 24 | — | 46.0% |
营业利润率PFSISAM
| Q1 26 | — | 12.4% | ||
| Q4 25 | 25.0% | -8.6% | ||
| Q3 25 | 37.3% | 11.5% | ||
| Q2 25 | 17.2% | 14.0% | ||
| Q1 25 | 24.2% | 7.4% | ||
| Q4 24 | 27.5% | -13.9% | ||
| Q3 24 | 22.8% | 7.6% | ||
| Q2 24 | 33.0% | 12.2% |
净利率PFSISAM
| Q1 26 | — | — | ||
| Q4 25 | 1752.5% | -5.8% | ||
| Q3 25 | 28.7% | 8.6% | ||
| Q2 25 | 30.7% | 10.3% | ||
| Q1 25 | 17.7% | 5.4% | ||
| Q4 24 | 2559.8% | -9.6% | ||
| Q3 24 | 16.8% | 5.5% | ||
| Q2 24 | 24.2% | 9.0% |
每股收益（稀释后）PFSISAM
| Q1 26 | — | $2.16 | ||
| Q4 25 | $1.97 | $-1.97 | ||
| Q3 25 | $3.37 | $4.25 | ||
| Q2 25 | $2.54 | $5.45 | ||
| Q1 25 | $1.42 | $2.16 | ||
| Q4 24 | $1.95 | $-3.23 | ||
| Q3 24 | $1.30 | $2.86 | ||
| Q2 24 | $1.85 | $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 | $410.0M | $164.1M |
| 总债务越低越好 | $6.2B | — |
| 股东权益账面价值 | $4.3B | $682.6M |
| 总资产 | $29.4B | $1.2B |
| 负债/权益比越低杠杆越低 | 1.45× | — |
8季度趋势，按日历期对齐
现金及短期投资PFSISAM
| Q1 26 | — | $164.1M | ||
| Q4 25 | $410.0M | $223.4M | ||
| Q3 25 | $62.2M | $250.5M | ||
| Q2 25 | $462.3M | $212.4M | ||
| Q1 25 | $443.4M | $152.5M | ||
| Q4 24 | $420.6M | $211.8M | ||
| Q3 24 | $667.9M | $255.6M | ||
| Q2 24 | $188.8M | $219.3M |
总债务PFSISAM
| Q1 26 | — | — | ||
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $5.6B | — | ||
| Q1 25 | $5.8B | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $4.9B | — | ||
| Q2 24 | $4.9B | — |
股东权益PFSISAM
| Q1 26 | — | $682.6M | ||
| Q4 25 | $4.3B | $846.3M | ||
| Q3 25 | $4.2B | $911.0M | ||
| Q2 25 | $4.0B | $912.3M | ||
| Q1 25 | $3.9B | $897.0M | ||
| Q4 24 | $3.8B | $916.2M | ||
| Q3 24 | $3.7B | $1.0B | ||
| Q2 24 | $3.7B | $1.0B |
总资产PFSISAM
| Q1 26 | — | $1.2B | ||
| Q4 25 | $29.4B | $1.2B | ||
| Q3 25 | $25.4B | $1.2B | ||
| Q2 25 | $24.2B | $1.3B | ||
| Q1 25 | $23.9B | $1.2B | ||
| Q4 24 | $26.1B | $1.3B | ||
| Q3 24 | $22.9B | $1.4B | ||
| Q2 24 | $21.6B | $1.4B |
负债/权益比PFSISAM
| Q1 26 | — | — | ||
| Q4 25 | 1.45× | — | ||
| Q3 25 | 1.48× | — | ||
| Q2 25 | 1.38× | — | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.37× | — | ||
| Q3 24 | 1.32× | — | ||
| Q2 24 | 1.35× | — |
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 | $-1.7B | — |
| 自由现金流经营现金流 - 资本支出 | $-1.7B | — |
| 自由现金流率自由现金流/营收 | -309.3% | — |
| 资本支出强度资本支出/营收 | 2.2% | — |
| 现金转化率经营现金流/净利润 | -15.46× | — |
| 过去12个月自由现金流最近4个季度 | $-1.4B | — |
8季度趋势，按日历期对齐
经营现金流PFSISAM
| Q1 26 | — | — | ||
| Q4 25 | $-1.7B | $39.9M | ||
| Q3 25 | $-697.4M | $101.8M | ||
| Q2 25 | $-131.3M | $126.5M | ||
| Q1 25 | $1.1B | $1.9M | ||
| Q4 24 | $-4.5B | $41.9M | ||
| Q3 24 | $-393.7M | $115.9M | ||
| Q2 24 | $-1.1B | $96.0M |
自由现金流PFSISAM
| Q1 26 | — | — | ||
| Q4 25 | $-1.7B | $22.1M | ||
| Q3 25 | $-699.4M | $89.2M | ||
| Q2 25 | $-132.6M | $112.2M | ||
| Q1 25 | $1.1B | $-8.0M | ||
| Q4 24 | $-4.5B | $18.4M | ||
| Q3 24 | $-393.9M | $99.2M | ||
| Q2 24 | $-1.1B | $75.6M |
自由现金流率PFSISAM
| Q1 26 | — | — | ||
| Q4 25 | -309.3% | 5.7% | ||
| Q3 25 | -110.5% | 16.6% | ||
| Q2 25 | -29.8% | 19.1% | ||
| Q1 25 | 247.3% | -1.8% | ||
| Q4 24 | -964.7% | 4.6% | ||
| Q3 24 | -95.6% | 16.4% | ||
| Q2 24 | -269.2% | 13.1% |
资本支出强度PFSISAM
| Q1 26 | — | — | ||
| Q4 25 | 2.2% | 4.6% | ||
| Q3 25 | 0.3% | 2.3% | ||
| Q2 25 | 0.3% | 2.4% | ||
| Q1 25 | 0.1% | 2.2% | ||
| Q4 24 | 0.4% | 5.8% | ||
| Q3 24 | 0.0% | 2.8% | ||
| Q2 24 | 0.1% | 3.5% |
现金转化率PFSISAM
| Q1 26 | — | — | ||
| Q4 25 | -15.46× | — | ||
| Q3 25 | -3.84× | 2.21× | ||
| Q2 25 | -0.96× | 2.09× | ||
| Q1 25 | 13.97× | 0.08× | ||
| Q4 24 | -43.39× | — | ||
| Q3 24 | -5.68× | 3.46× | ||
| Q2 24 | -11.12× | 1.83× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
