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PennyMac Financial Services, Inc.（PFSI）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
PennyMac Financial Services, Inc.的季度营收约是世纪互联的1.5倍（$538.0M vs $362.7M），PennyMac Financial Services, Inc.净利率更高（1752.5% vs -10.7%，领先1763.1%），世纪互联自由现金流更多（$-193.1M vs $-1.7B），过去两年PennyMac Financial Services, Inc.的营收复合增速更高（32.7% vs 17.4%）
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。
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。
PFSI vs VNET — 直观对比
营收规模更大
PFSI
是对方的1.5倍
$362.7M
净利率更高
PFSI
高出1763.1%
-10.7%
自由现金流更多
VNET
多$1.5B
$-1.7B
两年增速更快
PFSI
近两年复合增速
17.4%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $538.0M | $362.7M |
| 净利润 | $106.8M | $-38.7M |
| 毛利率 | — | 20.9% |
| 营业利润率 | 25.0% | 0.5% |
| 净利率 | 1752.5% | -10.7% |
| 营收同比 | 14.4% | — |
| 净利润同比 | 2.2% | — |
| 每股收益（稀释后） | $1.97 | — |
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PFSIVNET
| Q4 25 | $538.0M | — | ||
| Q3 25 | $632.9M | $362.7M | ||
| Q2 25 | $444.7M | — | ||
| Q1 25 | $430.9M | $309.5M | ||
| Q4 24 | $470.1M | — | ||
| Q3 24 | $411.8M | $302.2M | ||
| Q2 24 | $406.1M | $274.4M | ||
| Q1 24 | $305.7M | $262.9M |
净利润PFSIVNET
| Q4 25 | $106.8M | — | ||
| Q3 25 | $181.5M | $-38.7M | ||
| Q2 25 | $136.5M | — | ||
| Q1 25 | $76.3M | $-2.4M | ||
| Q4 24 | $104.5M | — | ||
| Q3 24 | $69.4M | $-2.1M | ||
| Q2 24 | $98.3M | $-1.1M | ||
| Q1 24 | $39.3M | $-22.0M |
毛利率PFSIVNET
| Q4 25 | — | — | ||
| Q3 25 | — | 20.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 25.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 21.3% | ||
| Q1 24 | — | 21.6% |
营业利润率PFSIVNET
| Q4 25 | 25.0% | — | ||
| Q3 25 | 37.3% | 0.5% | ||
| Q2 25 | 17.2% | — | ||
| Q1 25 | 24.2% | 0.1% | ||
| Q4 24 | 27.5% | — | ||
| Q3 24 | 22.8% | 24.5% | ||
| Q2 24 | 33.0% | 0.2% | ||
| Q1 24 | 14.4% | 0.2% |
净利率PFSIVNET
| Q4 25 | 1752.5% | — | ||
| Q3 25 | 28.7% | -10.7% | ||
| Q2 25 | 30.7% | — | ||
| Q1 25 | 17.7% | -0.8% | ||
| Q4 24 | 2559.8% | — | ||
| Q3 24 | 16.8% | -0.7% | ||
| Q2 24 | 24.2% | -0.4% | ||
| Q1 24 | 12.9% | -8.4% |
每股收益（稀释后）PFSIVNET
| Q4 25 | $1.97 | — | ||
| Q3 25 | $3.37 | — | ||
| Q2 25 | $2.54 | — | ||
| Q1 25 | $1.42 | — | ||
| Q4 24 | $1.95 | — | ||
| Q3 24 | $1.30 | — | ||
| Q2 24 | $1.85 | — | ||
| Q1 24 | $0.74 | — |
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 | $492.1M |
| 总债务越低越好 | $6.2B | — |
| 股东权益账面价值 | $4.3B | $890.8M |
| 总资产 | $29.4B | $6.1B |
| 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PFSIVNET
| Q4 25 | $410.0M | — | ||
| Q3 25 | $62.2M | $492.1M | ||
| Q2 25 | $462.3M | — | ||
| Q1 25 | $443.4M | $544.3M | ||
| Q4 24 | $420.6M | — | ||
| Q3 24 | $667.9M | $219.5M | ||
| Q2 24 | $188.8M | $247.2M | ||
| Q1 24 | $69.0K | $246.9M |
总债务PFSIVNET
| Q4 25 | $6.2B | — | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $5.6B | — | ||
| Q1 25 | $5.8B | — | ||
| Q4 24 | $5.3B | — | ||
| Q3 24 | $4.9B | $1.2B | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $4.5B | — |
股东权益PFSIVNET
| Q4 25 | $4.3B | — | ||
| Q3 25 | $4.2B | $890.8M | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $3.9B | $927.8M | ||
| Q4 24 | $3.8B | — | ||
| Q3 24 | $3.7B | $902.9M | ||
| Q2 24 | $3.7B | $900.6M | ||
| Q1 24 | $3.6B | $895.1M |
总资产PFSIVNET
| Q4 25 | $29.4B | — | ||
| Q3 25 | $25.4B | $6.1B | ||
| Q2 25 | $24.2B | — | ||
| Q1 25 | $23.9B | $5.4B | ||
| Q4 24 | $26.1B | — | ||
| Q3 24 | $22.9B | $4.3B | ||
| Q2 24 | $21.6B | $4.0B | ||
| Q1 24 | $19.8B | $3.9B |
负债/权益比PFSIVNET
| Q4 25 | 1.45× | — | ||
| Q3 25 | 1.48× | — | ||
| Q2 25 | 1.38× | — | ||
| Q1 25 | 1.48× | — | ||
| Q4 24 | 1.37× | — | ||
| Q3 24 | 1.32× | 1.28× | ||
| Q2 24 | 1.35× | — | ||
| Q1 24 | 1.27× | — |
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 | $113.8M |
| 自由现金流经营现金流 - 资本支出 | $-1.7B | $-193.1M |
| 自由现金流率自由现金流/营收 | -309.3% | -53.2% |
| 资本支出强度资本支出/营收 | 2.2% | 84.6% |
| 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 | $-589.7M |
8季度趋势，按日历期对齐
经营现金流PFSIVNET
| Q4 25 | $-1.7B | — | ||
| Q3 25 | $-697.4M | $113.8M | ||
| Q2 25 | $-131.3M | — | ||
| Q1 25 | $1.1B | $27.0M | ||
| Q4 24 | $-4.5B | — | ||
| Q3 24 | $-393.7M | $108.3M | ||
| Q2 24 | $-1.1B | $55.8M | ||
| Q1 24 | $-897.9M | $37.1M |
自由现金流PFSIVNET
| Q4 25 | $-1.7B | — | ||
| Q3 25 | $-699.4M | $-193.1M | ||
| Q2 25 | $-132.6M | — | ||
| Q1 25 | $1.1B | $-220.0M | ||
| Q4 24 | $-4.5B | — | ||
| Q3 24 | $-393.9M | $-95.0M | ||
| Q2 24 | $-1.1B | $-81.6M | ||
| Q1 24 | $-898.9M | $-102.2M |
自由现金流率PFSIVNET
| Q4 25 | -309.3% | — | ||
| Q3 25 | -110.5% | -53.2% | ||
| Q2 25 | -29.8% | — | ||
| Q1 25 | 247.3% | -71.1% | ||
| Q4 24 | -964.7% | — | ||
| Q3 24 | -95.6% | -31.4% | ||
| Q2 24 | -269.2% | -29.8% | ||
| Q1 24 | -294.1% | -38.9% |
资本支出强度PFSIVNET
| Q4 25 | 2.2% | — | ||
| Q3 25 | 0.3% | 84.6% | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.1% | 79.8% | ||
| Q4 24 | 0.4% | — | ||
| Q3 24 | 0.0% | 67.3% | ||
| Q2 24 | 0.1% | 50.1% | ||
| Q1 24 | 0.3% | 53.0% |
现金转化率PFSIVNET
| Q4 25 | -15.46× | — | ||
| Q3 25 | -3.84× | — | ||
| Q2 25 | -0.96× | — | ||
| Q1 25 | 13.97× | — | ||
| Q4 24 | -43.39× | — | ||
| Q3 24 | -5.68× | — | ||
| Q2 24 | -11.12× | — | ||
| Q1 24 | -22.84× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
