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滨特尔（PNR）与SELECT MEDICAL HOLDINGS CORP（SEM）财务数据对比。点击上方公司名可切换其他公司
SELECT MEDICAL HOLDINGS CORP的季度营收约是滨特尔的1.3倍（$1.4B vs $1.0B），滨特尔净利率更高（16.6% vs 1.4%，领先15.2%），SELECT MEDICAL HOLDINGS CORP同比增速更快（6.4% vs 2.6%），SELECT MEDICAL HOLDINGS CORP自由现金流更多（$5.2M vs $-85.7M），过去两年SELECT MEDICAL HOLDINGS CORP的营收复合增速更高（2.8% vs -2.9%）
滨特尔（股票代码PNR）是知名水处理企业，注册地位于爱尔兰，税务居民身份归属英国，美国区总部设于明尼苏达州金谷市。品牌起源于美国，2017年数据显示其65%的营收来自美国和加拿大，2014年集团完成架构重组，注册地由瑞士变更为爱尔兰。
Select Medical是总部位于美国宾夕法尼亚州的医疗健康企业，业务涵盖长期急症护理、住院康复医院运营，同时开设有职业健康与物理治疗诊所，母公司Select Medical Holdings在纽约证券交易所挂牌上市。
PNR vs SEM — 直观对比
营收规模更大
SEM
是对方的1.3倍
$1.0B
营收增速更快
SEM
高出3.8%
2.6%
净利率更高
PNR
高出15.2%
1.4%
自由现金流更多
SEM
多$90.9M
$-85.7M
两年增速更快
SEM
近两年复合增速
-2.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.4B |
| 净利润 | $172.4M | $20.2M |
| 毛利率 | 41.8% | — |
| 营业利润率 | 20.3% | 4.6% |
| 净利率 | 16.6% | 1.4% |
| 营收同比 | 2.6% | 6.4% |
| 净利润同比 | 11.3% | 225.7% |
| 每股收益（稀释后） | — | $0.17 |
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PNRSEM
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.0B | $1.4B | ||
| Q3 25 | $1.0B | $1.4B | ||
| Q2 25 | $1.1B | $1.3B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $972.9M | $1.3B | ||
| Q3 24 | $993.4M | $1.3B | ||
| Q2 24 | $1.1B | $1.3B |
净利润PNRSEM
| Q1 26 | $172.4M | — | ||
| Q4 25 | $166.1M | $20.2M | ||
| Q3 25 | $184.3M | $28.8M | ||
| Q2 25 | $148.5M | $40.6M | ||
| Q1 25 | $154.9M | $56.7M | ||
| Q4 24 | $166.4M | $-16.1M | ||
| Q3 24 | $139.6M | $55.6M | ||
| Q2 24 | $186.1M | $77.6M |
毛利率PNRSEM
| Q1 26 | 41.8% | — | ||
| Q4 25 | 40.4% | — | ||
| Q3 25 | 41.0% | — | ||
| Q2 25 | 40.7% | — | ||
| Q1 25 | 39.9% | — | ||
| Q4 24 | 38.8% | — | ||
| Q3 24 | 39.6% | — | ||
| Q2 24 | 39.8% | — |
营业利润率PNRSEM
| Q1 26 | 20.3% | — | ||
| Q4 25 | 20.1% | 4.6% | ||
| Q3 25 | 22.7% | 5.4% | ||
| Q2 25 | 19.4% | 6.5% | ||
| Q1 25 | 20.1% | 8.3% | ||
| Q4 24 | 20.1% | 1.6% | ||
| Q3 24 | 18.1% | 4.3% | ||
| Q2 24 | 22.6% | 5.8% |
净利率PNRSEM
| Q1 26 | 16.6% | — | ||
| Q4 25 | 16.3% | 1.4% | ||
| Q3 25 | 18.0% | 2.1% | ||
| Q2 25 | 13.2% | 3.0% | ||
| Q1 25 | 15.3% | 4.2% | ||
| Q4 24 | 17.1% | -1.2% | ||
| Q3 24 | 14.1% | 4.4% | ||
| Q2 24 | 16.9% | 6.1% |
每股收益（稀释后）PNRSEM
| Q1 26 | — | — | ||
| Q4 25 | $1.01 | $0.17 | ||
| Q3 25 | $1.12 | $0.23 | ||
| Q2 25 | $0.90 | $0.32 | ||
| Q1 25 | $0.93 | $0.44 | ||
| Q4 24 | $0.99 | $-0.12 | ||
| Q3 24 | $0.84 | $0.43 | ||
| Q2 24 | $1.11 | $0.60 |
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 | $67.7M | $26.5M |
| 总债务越低越好 | $1.9B | $1.8B |
| 股东权益账面价值 | $3.8B | $1.7B |
| 总资产 | $7.1B | $5.9B |
| 负债/权益比越低杠杆越低 | 0.51× | 1.06× |
8季度趋势，按日历期对齐
现金及短期投资PNRSEM
| Q1 26 | $67.7M | — | ||
| Q4 25 | — | $26.5M | ||
| Q3 25 | $128.4M | $60.1M | ||
| Q2 25 | $143.0M | $52.3M | ||
| Q1 25 | $140.6M | $53.2M | ||
| Q4 24 | $118.7M | $59.7M | ||
| Q3 24 | $218.1M | $191.5M | ||
| Q2 24 | $214.3M | $111.2M |
总债务PNRSEM
| Q1 26 | $1.9B | — | ||
| Q4 25 | $1.6B | $1.8B | ||
| Q3 25 | $1.6B | $1.7B | ||
| Q2 25 | $1.4B | $1.8B | ||
| Q1 25 | $1.8B | $1.8B | ||
| Q4 24 | $1.6B | $1.7B | ||
| Q3 24 | — | $3.1B | ||
| Q2 24 | $1.8B | $3.6B |
股东权益PNRSEM
| Q1 26 | $3.8B | — | ||
| Q4 25 | $3.9B | $1.7B | ||
| Q3 25 | $3.8B | $1.7B | ||
| Q2 25 | $3.7B | $1.7B | ||
| Q1 25 | $3.6B | $1.7B | ||
| Q4 24 | $3.6B | $1.7B | ||
| Q3 24 | $3.5B | $1.9B | ||
| Q2 24 | $3.4B | $1.4B |
总资产PNRSEM
| Q1 26 | $7.1B | — | ||
| Q4 25 | $6.9B | $5.9B | ||
| Q3 25 | $6.8B | $5.7B | ||
| Q2 25 | $6.5B | $5.7B | ||
| Q1 25 | $6.7B | $5.7B | ||
| Q4 24 | $6.4B | $5.6B | ||
| Q3 24 | $6.5B | $8.0B | ||
| Q2 24 | $6.5B | $7.9B |
负债/权益比PNRSEM
| Q1 26 | 0.51× | — | ||
| Q4 25 | 0.42× | 1.06× | ||
| Q3 25 | 0.42× | 1.03× | ||
| Q2 25 | 0.38× | 1.10× | ||
| Q1 25 | 0.51× | 1.03× | ||
| Q4 24 | 0.46× | 1.01× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | 0.51× | 2.54× |
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 | — | $64.3M |
| 自由现金流经营现金流 - 资本支出 | $-85.7M | $5.2M |
| 自由现金流率自由现金流/营收 | -8.3% | 0.4% |
| 资本支出强度资本支出/营收 | 1.8% | 4.2% |
| 现金转化率经营现金流/净利润 | — | 3.19× |
| 过去12个月自由现金流最近4个季度 | $716.0M | $117.2M |
8季度趋势，按日历期对齐
经营现金流PNRSEM
| Q1 26 | — | — | ||
| Q4 25 | $50.8M | $64.3M | ||
| Q3 25 | $196.3M | $175.3M | ||
| Q2 25 | $606.6M | $110.3M | ||
| Q1 25 | $-38.9M | $-3.5M | ||
| Q4 24 | $86.5M | $125.4M | ||
| Q3 24 | $248.6M | $181.0M | ||
| Q2 24 | $539.2M | $278.2M |
自由现金流PNRSEM
| Q1 26 | $-85.7M | — | ||
| Q4 25 | $27.1M | $5.2M | ||
| Q3 25 | $178.9M | $122.2M | ||
| Q2 25 | $595.7M | $45.6M | ||
| Q1 25 | $-55.7M | $-55.8M | ||
| Q4 24 | $63.8M | $62.0M | ||
| Q3 24 | $233.2M | $130.3M | ||
| Q2 24 | $522.2M | $222.6M |
自由现金流率PNRSEM
| Q1 26 | -8.3% | — | ||
| Q4 25 | 2.7% | 0.4% | ||
| Q3 25 | 17.5% | 9.0% | ||
| Q2 25 | 53.0% | 3.4% | ||
| Q1 25 | -5.5% | -4.1% | ||
| Q4 24 | 6.6% | 4.7% | ||
| Q3 24 | 23.5% | 10.2% | ||
| Q2 24 | 47.5% | 17.4% |
资本支出强度PNRSEM
| Q1 26 | 1.8% | — | ||
| Q4 25 | 2.3% | 4.2% | ||
| Q3 25 | 1.7% | 3.9% | ||
| Q2 25 | 1.0% | 4.8% | ||
| Q1 25 | 1.7% | 3.9% | ||
| Q4 24 | 2.3% | 4.8% | ||
| Q3 24 | 1.6% | 4.0% | ||
| Q2 24 | 1.5% | 4.3% |
现金转化率PNRSEM
| Q1 26 | — | — | ||
| Q4 25 | 0.31× | 3.19× | ||
| Q3 25 | 1.07× | 6.09× | ||
| Q2 25 | 4.08× | 2.72× | ||
| Q1 25 | -0.25× | -0.06× | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 1.78× | 3.25× | ||
| Q2 24 | 2.90× | 3.59× |
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
PNR
| Water Solutions | $391.0M | 38% |
| Pool | $387.1M | 37% |
| Flow | $258.1M | 25% |
SEM
| Critical Illness Recovery Hospitals | $629.7M | 45% |
| Health Care Patient Service Non Medicare | $428.6M | 31% |
| Rehabilitation Hospitals | $339.2M | 24% |
