vs
雅保（ALB）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
雅保的季度营收约是Sunrun Inc.的1.2倍（$1.4B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs -29.0%，领先37.9%），Sunrun Inc.同比增速更快（123.5% vs 15.9%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 2.4%）
雅保是全球知名的特种化学品企业，业务覆盖研发、生产与全球销售，下设锂、溴、催化剂三大板块。锂业务线供应碳酸锂、氢氧化锂、氯化锂等锂化合物及相关试剂，产品广泛应用于消费电子、电动汽车锂电池、高性能润滑脂、热塑性弹性体等领域。
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。
ALB vs RUN — 直观对比
营收规模更大
ALB
是对方的1.2倍
$1.2B
营收增速更快
RUN
高出107.6%
15.9%
净利率更高
RUN
高出37.9%
-29.0%
两年增速更快
RUN
近两年复合增速
2.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.4B | $1.2B |
| 净利润 | $-414.2M | $103.6M |
| 毛利率 | 13.9% | — |
| 营业利润率 | -15.2% | 8.4% |
| 净利率 | -29.0% | 8.9% |
| 营收同比 | 15.9% | 123.5% |
| 净利润同比 | -650.1% | 103.7% |
| 每股收益（稀释后） | $-3.88 | $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ALBRUN
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.3B | $724.6M | ||
| Q2 25 | $1.3B | $569.3M | ||
| Q1 25 | $1.1B | $504.3M | ||
| Q4 24 | $1.2B | $518.5M | ||
| Q3 24 | $1.4B | $537.2M | ||
| Q2 24 | $1.4B | $523.9M | ||
| Q1 24 | $1.4B | $458.2M |
净利润ALBRUN
| Q4 25 | $-414.2M | $103.6M | ||
| Q3 25 | $-160.7M | $16.6M | ||
| Q2 25 | $22.9M | $279.8M | ||
| Q1 25 | $41.3M | $50.0M | ||
| Q4 24 | $75.3M | $-2.8B | ||
| Q3 24 | $-1.1B | $-83.8M | ||
| Q2 24 | $-188.2M | $139.1M | ||
| Q1 24 | $2.4M | $-87.8M |
毛利率ALBRUN
| Q4 25 | 13.9% | — | ||
| Q3 25 | 9.0% | — | ||
| Q2 25 | 14.8% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 11.2% | — | ||
| Q3 24 | -7.7% | — | ||
| Q2 24 | -0.7% | — | ||
| Q1 24 | 2.9% | — |
营业利润率ALBRUN
| Q4 25 | -15.2% | 8.4% | ||
| Q3 25 | -16.6% | 0.5% | ||
| Q2 25 | 3.6% | -19.7% | ||
| Q1 25 | 1.8% | -22.8% | ||
| Q4 24 | 0.4% | -628.0% | ||
| Q3 24 | -81.9% | -23.8% | ||
| Q2 24 | -34.4% | -24.4% | ||
| Q1 24 | -13.2% | -40.0% |
净利率ALBRUN
| Q4 25 | -29.0% | 8.9% | ||
| Q3 25 | -12.3% | 2.3% | ||
| Q2 25 | 1.7% | 49.1% | ||
| Q1 25 | 3.8% | 9.9% | ||
| Q4 24 | 6.1% | -542.7% | ||
| Q3 24 | -78.9% | -15.6% | ||
| Q2 24 | -13.2% | 26.5% | ||
| Q1 24 | 0.2% | -19.2% |
每股收益（稀释后）ALBRUN
| Q4 25 | $-3.88 | $0.38 | ||
| Q3 25 | $-1.72 | $0.06 | ||
| Q2 25 | $-0.16 | $1.07 | ||
| Q1 25 | $0.00 | $0.20 | ||
| Q4 24 | $0.29 | $-12.59 | ||
| Q3 24 | $-9.45 | $-0.37 | ||
| Q2 24 | $-1.96 | $0.55 | ||
| Q1 24 | $-0.08 | $-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 | — | — |
| 总债务越低越好 | $3.2B | $14.7B |
| 股东权益账面价值 | $9.5B | $3.1B |
| 总资产 | $16.4B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.33× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资ALBRUN
| Q4 25 | — | — | ||
| Q3 25 | $1.9B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.7B | — | ||
| Q2 24 | $1.8B | — | ||
| Q1 24 | $2.1B | — |
总债务ALBRUN
| Q4 25 | $3.2B | $14.7B | ||
| Q3 25 | $3.6B | $14.6B | ||
| Q2 25 | $3.6B | $14.0B | ||
| Q1 25 | $3.5B | $13.6B | ||
| Q4 24 | $3.5B | $12.9B | ||
| Q3 24 | $3.6B | $12.5B | ||
| Q2 24 | $3.5B | $12.0B | ||
| Q1 24 | $3.5B | $11.1B |
股东权益ALBRUN
| Q4 25 | $9.5B | $3.1B | ||
| Q3 25 | $10.0B | $3.0B | ||
| Q2 25 | $10.2B | $2.9B | ||
| Q1 25 | $10.0B | $2.6B | ||
| Q4 24 | $10.0B | $2.6B | ||
| Q3 24 | $10.2B | $5.3B | ||
| Q2 24 | $11.2B | $5.4B | ||
| Q1 24 | $11.5B | $5.2B |
总资产ALBRUN
| Q4 25 | $16.4B | $22.6B | ||
| Q3 25 | $17.1B | $22.2B | ||
| Q2 25 | $17.3B | $21.2B | ||
| Q1 25 | $17.0B | $20.4B | ||
| Q4 24 | $16.6B | $19.9B | ||
| Q3 24 | $17.5B | $22.1B | ||
| Q2 24 | $18.4B | $21.4B | ||
| Q1 24 | $19.0B | $20.8B |
负债/权益比ALBRUN
| Q4 25 | 0.33× | 4.69× | ||
| Q3 25 | 0.36× | 4.90× | ||
| Q2 25 | 0.35× | 4.80× | ||
| Q1 25 | 0.35× | 5.19× | ||
| Q4 24 | 0.35× | 5.05× | ||
| Q3 24 | 0.35× | 2.36× | ||
| Q2 24 | 0.31× | 2.23× | ||
| Q1 24 | 0.31× | 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 | $388.5M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $233.1M | — |
| 自由现金流率自由现金流/营收 | 16.3% | — |
| 资本支出强度资本支出/营收 | 10.9% | — |
| 现金转化率经营现金流/净利润 | — | 0.94× |
| 过去12个月自由现金流最近4个季度 | $692.5M | — |
8季度趋势，按日历期对齐
经营现金流ALBRUN
| Q4 25 | $388.5M | $96.9M | ||
| Q3 25 | $355.6M | $-121.5M | ||
| Q2 25 | $-7.2M | $-292.7M | ||
| Q1 25 | $545.4M | $-104.2M | ||
| Q4 24 | $674.0K | $-258.4M | ||
| Q3 24 | $240.5M | $-156.2M | ||
| Q2 24 | $362.9M | $-208.5M | ||
| Q1 24 | $98.0M | $-143.1M |
自由现金流ALBRUN
| Q4 25 | $233.1M | — | ||
| Q3 25 | $223.4M | — | ||
| Q2 25 | $-126.8M | — | ||
| Q1 25 | $362.8M | — | ||
| Q4 24 | $-355.1M | — | ||
| Q3 24 | $-62.6M | $-156.4M | ||
| Q2 24 | $-84.7M | — | ||
| Q1 24 | $-481.4M | — |
自由现金流率ALBRUN
| Q4 25 | 16.3% | — | ||
| Q3 25 | 17.1% | — | ||
| Q2 25 | -9.5% | — | ||
| Q1 25 | 33.7% | — | ||
| Q4 24 | -28.8% | — | ||
| Q3 24 | -4.6% | -29.1% | ||
| Q2 24 | -5.9% | — | ||
| Q1 24 | -35.4% | — |
资本支出强度ALBRUN
| Q4 25 | 10.9% | — | ||
| Q3 25 | 10.1% | — | ||
| Q2 25 | 9.0% | — | ||
| Q1 25 | 17.0% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 22.4% | 0.0% | ||
| Q2 24 | 31.3% | — | ||
| Q1 24 | 42.6% | — |
现金转化率ALBRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | -0.31× | -1.05× | ||
| Q1 25 | 13.19× | -2.08× | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | 40.01× | — |
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
ALB
| Energy Storage | $759.1M | 53% |
| Specialties | $348.9M | 24% |
| Ketjen | $320.1M | 22% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
