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欧特克（ADSK）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
欧特克的季度营收约是Sunrun Inc.的1.7倍（$2.0B vs $1.2B），欧特克净利率更高（16.1% vs 8.9%，领先7.2%），Sunrun Inc.同比增速更快（123.5% vs 19.4%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 17.5%）
欧特克是美国跨国软件企业，总部位于加利福尼亚州旧金山，在全球各地设有办事处，美国境内亦于俄勒冈、科罗拉多、得克萨斯、密歇根等多州布局办公网点，为建筑、工程、施工、制造、传媒、教育、娱乐等多领域客户提供专业软件产品及配套服务。
Sunrun Inc.是美国知名的光伏系统及电池储能产品供应商，业务以服务住宅客户为主，2007年成立，总部位于加利福尼亚州旧金山，致力于为家庭用户提供高效的清洁能源解决方案。
ADSK vs RUN — 直观对比
营收规模更大
ADSK
是对方的1.7倍
$1.2B
营收增速更快
RUN
高出104.1%
19.4%
净利率更高
ADSK
高出7.2%
8.9%
两年增速更快
RUN
近两年复合增速
17.5%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $316.0M | $103.6M |
| 毛利率 | 91.5% | — |
| 营业利润率 | 22.0% | 8.4% |
| 净利率 | 16.1% | 8.9% |
| 营收同比 | 19.4% | 123.5% |
| 净利润同比 | 4.3% | 103.7% |
| 每股收益（稀释后） | $1.47 | $0.38 |
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ADSKRUN
| Q1 26 | $2.0B | — | ||
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $1.8B | $724.6M | ||
| Q2 25 | $1.6B | $569.3M | ||
| Q1 25 | $1.6B | $504.3M | ||
| Q4 24 | $1.6B | $518.5M | ||
| Q3 24 | $1.5B | $537.2M | ||
| Q2 24 | $1.4B | $523.9M |
净利润ADSKRUN
| Q1 26 | $316.0M | — | ||
| Q4 25 | $343.0M | $103.6M | ||
| Q3 25 | $313.0M | $16.6M | ||
| Q2 25 | $152.0M | $279.8M | ||
| Q1 25 | $303.0M | $50.0M | ||
| Q4 24 | $275.0M | $-2.8B | ||
| Q3 24 | $282.0M | $-83.8M | ||
| Q2 24 | $252.0M | $139.1M |
毛利率ADSKRUN
| Q1 26 | 91.5% | — | ||
| Q4 25 | 91.1% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 90.2% | — | ||
| Q1 25 | 90.6% | — | ||
| Q4 24 | 90.6% | — | ||
| Q3 24 | 90.7% | — | ||
| Q2 24 | 90.3% | — |
营业利润率ADSKRUN
| Q1 26 | 22.0% | — | ||
| Q4 25 | 25.4% | 8.4% | ||
| Q3 25 | 25.2% | 0.5% | ||
| Q2 25 | 14.3% | -19.7% | ||
| Q1 25 | 22.3% | -22.8% | ||
| Q4 24 | 22.0% | -628.0% | ||
| Q3 24 | 22.8% | -23.8% | ||
| Q2 24 | 21.1% | -24.4% |
净利率ADSKRUN
| Q1 26 | 16.1% | — | ||
| Q4 25 | 18.5% | 8.9% | ||
| Q3 25 | 17.8% | 2.3% | ||
| Q2 25 | 9.3% | 49.1% | ||
| Q1 25 | 18.5% | 9.9% | ||
| Q4 24 | 17.5% | -542.7% | ||
| Q3 24 | 18.7% | -15.6% | ||
| Q2 24 | 17.8% | 26.5% |
每股收益（稀释后）ADSKRUN
| Q1 26 | $1.47 | — | ||
| Q4 25 | $1.60 | $0.38 | ||
| Q3 25 | $1.46 | $0.06 | ||
| Q2 25 | $0.70 | $1.07 | ||
| Q1 25 | $1.39 | $0.20 | ||
| Q4 24 | $1.27 | $-12.59 | ||
| Q3 24 | $1.30 | $-0.37 | ||
| Q2 24 | $1.16 | $0.55 |
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 | $2.6B | — |
| 总债务越低越好 | $2.5B | $14.7B |
| 股东权益账面价值 | $3.0B | $3.1B |
| 总资产 | $12.5B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.82× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资ADSKRUN
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $2.0B | — |
总债务ADSKRUN
| Q1 26 | $2.5B | — | ||
| Q4 25 | $2.5B | $14.7B | ||
| Q3 25 | $2.5B | $14.6B | ||
| Q2 25 | $2.3B | $14.0B | ||
| Q1 25 | $2.3B | $13.6B | ||
| Q4 24 | $2.3B | $12.9B | ||
| Q3 24 | $2.3B | $12.5B | ||
| Q2 24 | $2.3B | $12.0B |
股东权益ADSKRUN
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $3.1B | ||
| Q3 25 | $2.7B | $3.0B | ||
| Q2 25 | $2.6B | $2.9B | ||
| Q1 25 | $2.6B | $2.6B | ||
| Q4 24 | $2.6B | $2.6B | ||
| Q3 24 | $2.5B | $5.3B | ||
| Q2 24 | $2.2B | $5.4B |
总资产ADSKRUN
| Q1 26 | $12.5B | — | ||
| Q4 25 | $11.2B | $22.6B | ||
| Q3 25 | $10.9B | $22.2B | ||
| Q2 25 | $10.6B | $21.2B | ||
| Q1 25 | $10.8B | $20.4B | ||
| Q4 24 | $10.1B | $19.9B | ||
| Q3 24 | $10.0B | $22.1B | ||
| Q2 24 | $9.8B | $21.4B |
负债/权益比ADSKRUN
| Q1 26 | 0.82× | — | ||
| Q4 25 | 0.86× | 4.69× | ||
| Q3 25 | 0.92× | 4.90× | ||
| Q2 25 | 0.88× | 4.80× | ||
| Q1 25 | 0.88× | 5.19× | ||
| Q4 24 | 0.88× | 5.05× | ||
| Q3 24 | 0.93× | 2.36× | ||
| Q2 24 | 1.06× | 2.23× |
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 | $989.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $972.0M | — |
| 自由现金流率自由现金流/营收 | 49.7% | — |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | 3.13× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $2.4B | — |
8季度趋势，按日历期对齐
经营现金流ADSKRUN
| Q1 26 | $989.0M | — | ||
| Q4 25 | $439.0M | $96.9M | ||
| Q3 25 | $460.0M | $-121.5M | ||
| Q2 25 | $564.0M | $-292.7M | ||
| Q1 25 | $692.0M | $-104.2M | ||
| Q4 24 | $209.0M | $-258.4M | ||
| Q3 24 | $212.0M | $-156.2M | ||
| Q2 24 | $494.0M | $-208.5M |
自由现金流ADSKRUN
| Q1 26 | $972.0M | — | ||
| Q4 25 | $430.0M | — | ||
| Q3 25 | $451.0M | — | ||
| Q2 25 | $556.0M | — | ||
| Q1 25 | $678.0M | — | ||
| Q4 24 | $199.0M | — | ||
| Q3 24 | $203.0M | $-156.4M | ||
| Q2 24 | $487.0M | — |
自由现金流率ADSKRUN
| Q1 26 | 49.7% | — | ||
| Q4 25 | 23.2% | — | ||
| Q3 25 | 25.6% | — | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 41.4% | — | ||
| Q4 24 | 12.7% | — | ||
| Q3 24 | 13.5% | -29.1% | ||
| Q2 24 | 34.4% | — |
资本支出强度ADSKRUN
| Q1 26 | 0.9% | — | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.6% | 0.0% | ||
| Q2 24 | 0.5% | — |
现金转化率ADSKRUN
| Q1 26 | 3.13× | — | ||
| Q4 25 | 1.28× | 0.94× | ||
| Q3 25 | 1.47× | -7.33× | ||
| Q2 25 | 3.71× | -1.05× | ||
| Q1 25 | 2.28× | -2.08× | ||
| Q4 24 | 0.76× | — | ||
| Q3 24 | 0.75× | — | ||
| Q2 24 | 1.96× | -1.50× |
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
ADSK
| Sales Channel Through Intermediary | $602.0M | 31% |
| Auto CA Dand Auto CADLT Family | $478.0M | 24% |
| Manufacturing | $381.0M | 19% |
| Make | $218.0M | 11% |
| Other | $130.0M | 7% |
| Other Research And Development | $129.0M | 7% |
| Maintenance | $8.0M | 0% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
