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Ameren（AEE）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
Ameren的季度营收约是Sunrun Inc.的1.5倍（$1.8B vs $1.2B），Ameren净利率更高（14.2% vs 8.9%，领先5.3%），Sunrun Inc.同比增速更快（123.5% vs -8.2%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -0.9%）
Ameren Corporation是美国公共事业控股企业，下设Ameren密苏里、伊利诺伊州配电、伊利诺伊州天然气、输电四大业务板块，主营受费率监管的发电、输电、配电业务，以及受监管的天然气输配业务，电力生产主要采用煤炭、核电等能源。
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。
AEE vs RUN — 直观对比
营收规模更大
AEE
是对方的1.5倍
$1.2B
营收增速更快
RUN
高出131.7%
-8.2%
净利率更高
AEE
高出5.3%
8.9%
两年增速更快
RUN
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $253.0M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 20.2% | 8.4% |
| 净利率 | 14.2% | 8.9% |
| 营收同比 | -8.2% | 123.5% |
| 净利润同比 | 21.6% | 103.7% |
| 每股收益（稀释后） | $0.92 | $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AEERUN
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $2.7B | $724.6M | ||
| Q2 25 | $2.2B | $569.3M | ||
| Q1 25 | $2.1B | $504.3M | ||
| Q4 24 | $1.9B | $518.5M | ||
| Q3 24 | $2.2B | $537.2M | ||
| Q2 24 | $1.7B | $523.9M | ||
| Q1 24 | $1.8B | $458.2M |
净利润AEERUN
| Q4 25 | $253.0M | $103.6M | ||
| Q3 25 | $641.0M | $16.6M | ||
| Q2 25 | $277.0M | $279.8M | ||
| Q1 25 | $290.0M | $50.0M | ||
| Q4 24 | $208.0M | $-2.8B | ||
| Q3 24 | $457.0M | $-83.8M | ||
| Q2 24 | $260.0M | $139.1M | ||
| Q1 24 | $262.0M | $-87.8M |
营业利润率AEERUN
| Q4 25 | 20.2% | 8.4% | ||
| Q3 25 | 30.6% | 0.5% | ||
| Q2 25 | 18.5% | -19.7% | ||
| Q1 25 | 20.5% | -22.8% | ||
| Q4 24 | 10.2% | -628.0% | ||
| Q3 24 | 27.0% | -23.8% | ||
| Q2 24 | 21.3% | -24.4% | ||
| Q1 24 | 20.4% | -40.0% |
净利率AEERUN
| Q4 25 | 14.2% | 8.9% | ||
| Q3 25 | 23.7% | 2.3% | ||
| Q2 25 | 12.5% | 49.1% | ||
| Q1 25 | 13.8% | 9.9% | ||
| Q4 24 | 10.7% | -542.7% | ||
| Q3 24 | 21.0% | -15.6% | ||
| Q2 24 | 15.4% | 26.5% | ||
| Q1 24 | 14.4% | -19.2% |
每股收益（稀释后）AEERUN
| Q4 25 | $0.92 | $0.38 | ||
| Q3 25 | $2.35 | $0.06 | ||
| Q2 25 | $1.01 | $1.07 | ||
| Q1 25 | $1.07 | $0.20 | ||
| Q4 24 | $0.77 | $-12.59 | ||
| Q3 24 | $1.70 | $-0.37 | ||
| Q2 24 | $0.97 | $0.55 | ||
| Q1 24 | $0.98 | $-0.40 |
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 | $13.0M | — |
| 总债务越低越好 | $19.4B | $14.7B |
| 股东权益账面价值 | $13.4B | $3.1B |
| 总资产 | $48.5B | $22.6B |
| 负债/权益比越低杠杆越低 | 1.45× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资AEERUN
| Q4 25 | $13.0M | — | ||
| Q3 25 | $9.0M | — | ||
| Q2 25 | $11.0M | — | ||
| Q1 25 | $23.0M | — | ||
| Q4 24 | $7.0M | — | ||
| Q3 24 | $17.0M | — | ||
| Q2 24 | $19.0M | — | ||
| Q1 24 | $85.0M | — |
总债务AEERUN
| Q4 25 | $19.4B | $14.7B | ||
| Q3 25 | — | $14.6B | ||
| Q2 25 | — | $14.0B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | $17.8B | $12.9B | ||
| Q3 24 | — | $12.5B | ||
| Q2 24 | — | $12.0B | ||
| Q1 24 | — | $11.1B |
股东权益AEERUN
| Q4 25 | $13.4B | $3.1B | ||
| Q3 25 | $12.8B | $3.0B | ||
| Q2 25 | $12.3B | $2.9B | ||
| Q1 25 | $12.2B | $2.6B | ||
| Q4 24 | $12.1B | $2.6B | ||
| Q3 24 | $11.8B | $5.3B | ||
| Q2 24 | $11.5B | $5.4B | ||
| Q1 24 | $11.4B | $5.2B |
总资产AEERUN
| Q4 25 | $48.5B | $22.6B | ||
| Q3 25 | $47.4B | $22.2B | ||
| Q2 25 | $46.6B | $21.2B | ||
| Q1 25 | $45.7B | $20.4B | ||
| Q4 24 | $44.6B | $19.9B | ||
| Q3 24 | $43.3B | $22.1B | ||
| Q2 24 | $42.3B | $21.4B | ||
| Q1 24 | $41.3B | $20.8B |
负债/权益比AEERUN
| Q4 25 | 1.45× | 4.69× | ||
| Q3 25 | — | 4.90× | ||
| Q2 25 | — | 4.80× | ||
| Q1 25 | — | 5.19× | ||
| Q4 24 | 1.47× | 5.05× | ||
| Q3 24 | — | 2.36× | ||
| Q2 24 | — | 2.23× | ||
| Q1 24 | — | 2.15× |
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 | $956.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $-54.0M | — |
| 自由现金流率自由现金流/营收 | -3.0% | — |
| 资本支出强度资本支出/营收 | 56.7% | — |
| 现金转化率经营现金流/净利润 | 3.78× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $-775.0M | — |
8季度趋势，按日历期对齐
经营现金流AEERUN
| Q4 25 | $956.0M | $96.9M | ||
| Q3 25 | $1.1B | $-121.5M | ||
| Q2 25 | $862.0M | $-292.7M | ||
| Q1 25 | $431.0M | $-104.2M | ||
| Q4 24 | $817.0M | $-258.4M | ||
| Q3 24 | $897.0M | $-156.2M | ||
| Q2 24 | $557.0M | $-208.5M | ||
| Q1 24 | $492.0M | $-143.1M |
自由现金流AEERUN
| Q4 25 | $-54.0M | — | ||
| Q3 25 | $116.0M | — | ||
| Q2 25 | $-204.0M | — | ||
| Q1 25 | $-633.0M | — | ||
| Q4 24 | $-473.0M | — | ||
| Q3 24 | $-240.0M | $-156.4M | ||
| Q2 24 | $-445.0M | — | ||
| Q1 24 | $-398.0M | — |
自由现金流率AEERUN
| Q4 25 | -3.0% | — | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | -9.2% | — | ||
| Q1 25 | -30.2% | — | ||
| Q4 24 | -24.4% | — | ||
| Q3 24 | -11.0% | -29.1% | ||
| Q2 24 | -26.3% | — | ||
| Q1 24 | -21.9% | — |
资本支出强度AEERUN
| Q4 25 | 56.7% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 48.0% | — | ||
| Q1 25 | 50.7% | — | ||
| Q4 24 | 66.5% | — | ||
| Q3 24 | 52.3% | 0.0% | ||
| Q2 24 | 59.2% | — | ||
| Q1 24 | 49.0% | — |
现金转化率AEERUN
| Q4 25 | 3.78× | 0.94× | ||
| Q3 25 | 1.72× | -7.33× | ||
| Q2 25 | 3.11× | -1.05× | ||
| Q1 25 | 1.49× | -2.08× | ||
| Q4 24 | 3.93× | — | ||
| Q3 24 | 1.96× | — | ||
| Q2 24 | 2.14× | -1.50× | ||
| Q1 24 | 1.88× | — |
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
AEE
暂无分部数据
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
