vs
亚朵集团（ATAT）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
Sunrun Inc.的季度营收约是亚朵集团的1.5倍（$1.2B vs $789.6M），亚朵集团净利率更高（17.6% vs 8.9%，领先8.7%），亚朵集团同比增速更快（252.5% vs 123.5%）
亚朵生活控股是中国领先的文旅生活服务企业，主营中高端连锁酒店运营业务，面向商旅及休闲出行人群提供高品质住宿服务，同时配套布局生活文创零售、场景体验等多元业务，覆盖国内核心城市及部分海外市场。
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。
ATAT vs RUN — 直观对比
营收规模更大
RUN
是对方的1.5倍
$789.6M
营收增速更快
ATAT
高出129.0%
123.5%
净利率更高
ATAT
高出8.7%
8.9%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $789.6M | $1.2B |
| 净利润 | $139.1M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 22.5% | 8.4% |
| 净利率 | 17.6% | 8.9% |
| 营收同比 | 252.5% | 123.5% |
| 净利润同比 | 322.2% | 103.7% |
| 每股收益（稀释后） | $0.33 | $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ATATRUN
| Q4 25 | — | $1.2B | ||
| Q3 25 | $789.6M | $724.6M | ||
| Q2 25 | — | $569.3M | ||
| Q1 25 | — | $504.3M | ||
| Q4 24 | — | $518.5M | ||
| Q3 24 | $224.0M | $537.2M | ||
| Q2 24 | — | $523.9M | ||
| Q1 24 | $203.4M | $458.2M |
净利润ATATRUN
| Q4 25 | — | $103.6M | ||
| Q3 25 | $139.1M | $16.6M | ||
| Q2 25 | — | $279.8M | ||
| Q1 25 | — | $50.0M | ||
| Q4 24 | — | $-2.8B | ||
| Q3 24 | $33.0M | $-83.8M | ||
| Q2 24 | — | $139.1M | ||
| Q1 24 | $35.6M | $-87.8M |
营业利润率ATATRUN
| Q4 25 | — | 8.4% | ||
| Q3 25 | 22.5% | 0.5% | ||
| Q2 25 | — | -19.7% | ||
| Q1 25 | — | -22.8% | ||
| Q4 24 | — | -628.0% | ||
| Q3 24 | 14.7% | -23.8% | ||
| Q2 24 | — | -24.4% | ||
| Q1 24 | 22.1% | -40.0% |
净利率ATATRUN
| Q4 25 | — | 8.9% | ||
| Q3 25 | 17.6% | 2.3% | ||
| Q2 25 | — | 49.1% | ||
| Q1 25 | — | 9.9% | ||
| Q4 24 | — | -542.7% | ||
| Q3 24 | 14.7% | -15.6% | ||
| Q2 24 | — | 26.5% | ||
| Q1 24 | 17.5% | -19.2% |
每股收益（稀释后）ATATRUN
| Q4 25 | — | $0.38 | ||
| Q3 25 | $0.33 | $0.06 | ||
| Q2 25 | — | $1.07 | ||
| Q1 25 | — | $0.20 | ||
| Q4 24 | — | $-12.59 | ||
| Q3 24 | $0.08 | $-0.37 | ||
| Q2 24 | — | $0.55 | ||
| Q1 24 | $0.09 | $-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 | $669.2M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $405.0M | $3.1B |
| 总资产 | $1.1B | $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ATATRUN
| Q4 25 | — | — | ||
| Q3 25 | $669.2M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $506.0M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $520.7M | — |
总债务ATATRUN
| Q4 25 | — | $14.7B | ||
| Q3 25 | — | $14.6B | ||
| Q2 25 | — | $14.0B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | — | $12.9B | ||
| Q3 24 | — | $12.5B | ||
| Q2 24 | — | $12.0B | ||
| Q1 24 | $277.0K | $11.1B |
股东权益ATATRUN
| Q4 25 | — | $3.1B | ||
| Q3 25 | $405.0M | $3.0B | ||
| Q2 25 | — | $2.9B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | $291.3M | $5.3B | ||
| Q2 24 | — | $5.4B | ||
| Q1 24 | $323.5M | $5.2B |
总资产ATATRUN
| Q4 25 | — | $22.6B | ||
| Q3 25 | $1.1B | $22.2B | ||
| Q2 25 | — | $21.2B | ||
| Q1 25 | — | $20.4B | ||
| Q4 24 | — | $19.9B | ||
| Q3 24 | $927.8M | $22.1B | ||
| Q2 24 | — | $21.4B | ||
| Q1 24 | $936.3M | $20.8B |
负债/权益比ATATRUN
| Q4 25 | — | 4.69× | ||
| Q3 25 | — | 4.90× | ||
| Q2 25 | — | 4.80× | ||
| Q1 25 | — | 5.19× | ||
| Q4 24 | — | 5.05× | ||
| Q3 24 | — | 2.36× | ||
| Q2 24 | — | 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 | $216.6M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $210.7M | — |
| 自由现金流率自由现金流/营收 | 26.7% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 现金转化率经营现金流/净利润 | 1.56× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $359.6M | — |
8季度趋势，按日历期对齐
经营现金流ATATRUN
| Q4 25 | — | $96.9M | ||
| Q3 25 | $216.6M | $-121.5M | ||
| Q2 25 | — | $-292.7M | ||
| Q1 25 | — | $-104.2M | ||
| Q4 24 | — | $-258.4M | ||
| Q3 24 | $84.8M | $-156.2M | ||
| Q2 24 | — | $-208.5M | ||
| Q1 24 | $19.8M | $-143.1M |
自由现金流ATATRUN
| Q4 25 | — | — | ||
| Q3 25 | $210.7M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $83.3M | $-156.4M | ||
| Q2 24 | — | — | ||
| Q1 24 | $18.1M | — |
自由现金流率ATATRUN
| Q4 25 | — | — | ||
| Q3 25 | 26.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 37.2% | -29.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.9% | — |
资本支出强度ATATRUN
| Q4 25 | — | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.7% | 0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.9% | — |
现金转化率ATATRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | 1.56× | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.57× | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | 0.56× | — |
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
ATAT
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% |
