vs
美国鹰（AEO）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
美国鹰的季度营收约是Sunrun Inc.的1.2倍（$1.4B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs 6.7%，领先2.2%），Sunrun Inc.同比增速更快（123.5% vs 5.7%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 2.3%）
American Eagle Outfitters是美国知名服饰及配饰零售商，总部位于宾夕法尼亚州匹兹堡市南区工业园。品牌1977年由杰里·西尔弗曼与马克·西尔弗曼兄弟创立，最初为零售风险投资公司的子公司，旗下还运营西尔弗曼男装。1980年创始人向肖滕斯坦家族出售一半股权，1991年售罄剩余股份，目前旗下拥有Aerie、Unsubscribed等多个品牌。
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。
AEO vs RUN — 直观对比
营收规模更大
AEO
是对方的1.2倍
$1.2B
营收增速更快
RUN
高出117.8%
5.7%
净利率更高
RUN
高出2.2%
6.7%
两年增速更快
RUN
近两年复合增速
2.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $91.3M | $103.6M |
| 毛利率 | 40.5% | — |
| 营业利润率 | 8.3% | 8.4% |
| 净利率 | 6.7% | 8.9% |
| 营收同比 | 5.7% | 123.5% |
| 净利润同比 | 14.2% | 103.7% |
| 每股收益（稀释后） | $0.53 | $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AEORUN
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.3B | $724.6M | ||
| Q2 25 | $1.1B | $569.3M | ||
| Q1 25 | — | $504.3M | ||
| Q4 24 | $1.3B | $518.5M | ||
| Q3 24 | $1.3B | $537.2M | ||
| Q2 24 | $1.1B | $523.9M | ||
| Q1 24 | $1.7B | $458.2M |
净利润AEORUN
| Q4 25 | $91.3M | $103.6M | ||
| Q3 25 | $77.6M | $16.6M | ||
| Q2 25 | $-64.9M | $279.8M | ||
| Q1 25 | — | $50.0M | ||
| Q4 24 | $80.0M | $-2.8B | ||
| Q3 24 | $77.3M | $-83.8M | ||
| Q2 24 | $67.8M | $139.1M | ||
| Q1 24 | $6.3M | $-87.8M |
毛利率AEORUN
| Q4 25 | 40.5% | — | ||
| Q3 25 | 38.9% | — | ||
| Q2 25 | 29.6% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 40.9% | — | ||
| Q3 24 | 38.6% | — | ||
| Q2 24 | 40.6% | — | ||
| Q1 24 | 36.6% | — |
营业利润率AEORUN
| Q4 25 | 8.3% | 8.4% | ||
| Q3 25 | 8.0% | 0.5% | ||
| Q2 25 | -7.8% | -19.7% | ||
| Q1 25 | — | -22.8% | ||
| Q4 24 | 8.2% | -628.0% | ||
| Q3 24 | 7.8% | -23.8% | ||
| Q2 24 | 6.8% | -24.4% | ||
| Q1 24 | 0.6% | -40.0% |
净利率AEORUN
| Q4 25 | 6.7% | 8.9% | ||
| Q3 25 | 6.0% | 2.3% | ||
| Q2 25 | -6.0% | 49.1% | ||
| Q1 25 | — | 9.9% | ||
| Q4 24 | 6.2% | -542.7% | ||
| Q3 24 | 6.0% | -15.6% | ||
| Q2 24 | 5.9% | 26.5% | ||
| Q1 24 | 0.4% | -19.2% |
每股收益（稀释后）AEORUN
| Q4 25 | $0.53 | $0.38 | ||
| Q3 25 | $0.45 | $0.06 | ||
| Q2 25 | $-0.36 | $1.07 | ||
| Q1 25 | — | $0.20 | ||
| Q4 24 | $0.41 | $-12.59 | ||
| Q3 24 | $0.39 | $-0.37 | ||
| Q2 24 | $0.34 | $0.55 | ||
| Q1 24 | $0.03 | $-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 | $112.8M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $1.6B | $3.1B |
| 总资产 | $4.2B | $22.6B |
| 负债/权益比越低杠杆越低 | — | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资AEORUN
| Q4 25 | $112.8M | — | ||
| Q3 25 | $126.8M | — | ||
| Q2 25 | $87.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $160.2M | — | ||
| Q3 24 | $191.8M | — | ||
| Q2 24 | $300.5M | — | ||
| Q1 24 | $454.1M | — |
总债务AEORUN
| Q4 25 | — | $14.7B | ||
| Q3 25 | — | $14.6B | ||
| Q2 25 | — | $14.0B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | $0 | $12.9B | ||
| Q3 24 | $0 | $12.5B | ||
| Q2 24 | $0 | $12.0B | ||
| Q1 24 | $0 | $11.1B |
股东权益AEORUN
| Q4 25 | $1.6B | $3.1B | ||
| Q3 25 | $1.5B | $3.0B | ||
| Q2 25 | $1.5B | $2.9B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | $1.7B | $2.6B | ||
| Q3 24 | $1.7B | $5.3B | ||
| Q2 24 | $1.8B | $5.4B | ||
| Q1 24 | $1.7B | $5.2B |
总资产AEORUN
| Q4 25 | $4.2B | $22.6B | ||
| Q3 25 | $4.1B | $22.2B | ||
| Q2 25 | $3.8B | $21.2B | ||
| Q1 25 | — | $20.4B | ||
| Q4 24 | $3.7B | $19.9B | ||
| Q3 24 | $3.5B | $22.1B | ||
| Q2 24 | $3.6B | $21.4B | ||
| Q1 24 | $3.6B | $20.8B |
负债/权益比AEORUN
| Q4 25 | — | 4.69× | ||
| Q3 25 | — | 4.90× | ||
| Q2 25 | — | 4.80× | ||
| Q1 25 | — | 5.19× | ||
| Q4 24 | 0.00× | 5.05× | ||
| Q3 24 | 0.00× | 2.36× | ||
| Q2 24 | 0.00× | 2.23× | ||
| Q1 24 | 0.00× | 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 | $67.1M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $-2.5M | — |
| 自由现金流率自由现金流/营收 | -0.2% | — |
| 资本支出强度资本支出/营收 | 5.1% | — |
| 现金转化率经营现金流/净利润 | 0.74× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $-169.8M | — |
8季度趋势，按日历期对齐
经营现金流AEORUN
| Q4 25 | $67.1M | $96.9M | ||
| Q3 25 | $27.8M | $-121.5M | ||
| Q2 25 | $-54.7M | $-292.7M | ||
| Q1 25 | — | $-104.2M | ||
| Q4 24 | $52.9M | $-258.4M | ||
| Q3 24 | $78.3M | $-156.2M | ||
| Q2 24 | $-38.1M | $-208.5M | ||
| Q1 24 | $296.4M | $-143.1M |
自由现金流AEORUN
| Q4 25 | $-2.5M | — | ||
| Q3 25 | $-43.1M | — | ||
| Q2 25 | $-116.3M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-7.8M | — | ||
| Q3 24 | $17.5M | $-156.4M | ||
| Q2 24 | $-74.3M | — | ||
| Q1 24 | $256.8M | — |
自由现金流率AEORUN
| Q4 25 | -0.2% | — | ||
| Q3 25 | -3.4% | — | ||
| Q2 25 | -10.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.6% | — | ||
| Q3 24 | 1.4% | -29.1% | ||
| Q2 24 | -6.5% | — | ||
| Q1 24 | 15.3% | — |
资本支出强度AEORUN
| Q4 25 | 5.1% | — | ||
| Q3 25 | 5.5% | — | ||
| Q2 25 | 5.7% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.7% | — | ||
| Q3 24 | 4.7% | 0.0% | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 2.4% | — |
现金转化率AEORUN
| Q4 25 | 0.74× | 0.94× | ||
| Q3 25 | 0.36× | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | -0.56× | -1.50× | ||
| Q1 24 | 46.93× | — |
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
AEO
| American Eagle Brand | $800.4M | 59% |
| Aerie Brand | $429.1M | 31% |
| Other | $133.2M | 10% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
