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AvalonBay Communities（AVB）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AvalonBay Communities的1.5倍（$1.2B vs $767.9M），AvalonBay Communities净利率更高（9040.6% vs 8.9%，领先9031.6%），Sunrun Inc.同比增速更快（123.5% vs 3.7%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 3.8%）
AvalonBay Communities是一家公开上市的房地产投资信托（REIT），核心业务聚焦公寓类不动产的投资与运营，旗下持有并管理大量区位优质的公寓项目，为租户提供高品质居住服务，在北美住宅地产投资领域拥有较高知名度。
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。
AVB vs RUN — 直观对比
营收规模更大
RUN
是对方的1.5倍
$767.9M
营收增速更快
RUN
高出119.8%
3.7%
净利率更高
AVB
高出9031.6%
8.9%
两年增速更快
RUN
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $767.9M | $1.2B |
| 净利润 | $166.0M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 64.2% | 8.4% |
| 净利率 | 9040.6% | 8.9% |
| 营收同比 | 3.7% | 123.5% |
| 净利润同比 | -41.2% | 103.7% |
| 每股收益（稀释后） | $1.18 | $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AVBRUN
| Q4 25 | $767.9M | $1.2B | ||
| Q3 25 | $766.8M | $724.6M | ||
| Q2 25 | $760.2M | $569.3M | ||
| Q1 25 | $745.9M | $504.3M | ||
| Q4 24 | $740.5M | $518.5M | ||
| Q3 24 | $734.3M | $537.2M | ||
| Q2 24 | $726.0M | $523.9M | ||
| Q1 24 | $712.9M | $458.2M |
净利润AVBRUN
| Q4 25 | $166.0M | $103.6M | ||
| Q3 25 | $381.3M | $16.6M | ||
| Q2 25 | $268.7M | $279.8M | ||
| Q1 25 | $236.6M | $50.0M | ||
| Q4 24 | $282.1M | $-2.8B | ||
| Q3 24 | $372.5M | $-83.8M | ||
| Q2 24 | $253.9M | $139.1M | ||
| Q1 24 | $173.4M | $-87.8M |
营业利润率AVBRUN
| Q4 25 | 64.2% | 8.4% | ||
| Q3 25 | 65.7% | 0.5% | ||
| Q2 25 | 67.6% | -19.7% | ||
| Q1 25 | 68.5% | -22.8% | ||
| Q4 24 | 63.1% | -628.0% | ||
| Q3 24 | 65.4% | -23.8% | ||
| Q2 24 | 66.6% | -24.4% | ||
| Q1 24 | 67.2% | -40.0% |
净利率AVBRUN
| Q4 25 | 9040.6% | 8.9% | ||
| Q3 25 | 49.7% | 2.3% | ||
| Q2 25 | 35.3% | 49.1% | ||
| Q1 25 | 31.7% | 9.9% | ||
| Q4 24 | 38.1% | -542.7% | ||
| Q3 24 | 50.7% | -15.6% | ||
| Q2 24 | 35.0% | 26.5% | ||
| Q1 24 | 24.3% | -19.2% |
每股收益（稀释后）AVBRUN
| Q4 25 | $1.18 | $0.38 | ||
| Q3 25 | $2.68 | $0.06 | ||
| Q2 25 | $1.88 | $1.07 | ||
| Q1 25 | $1.66 | $0.20 | ||
| Q4 24 | $1.99 | $-12.59 | ||
| Q3 24 | $2.61 | $-0.37 | ||
| Q2 24 | $1.78 | $0.55 | ||
| Q1 24 | $1.22 | $-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 | $187.2M | — |
| 总债务越低越好 | $9.3B | $14.7B |
| 股东权益账面价值 | $11.6B | $3.1B |
| 总资产 | $22.2B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.80× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资AVBRUN
| Q4 25 | $187.2M | — | ||
| Q3 25 | $123.3M | — | ||
| Q2 25 | $102.8M | — | ||
| Q1 25 | $53.3M | — | ||
| Q4 24 | $108.6M | — | ||
| Q3 24 | $552.4M | — | ||
| Q2 24 | $545.8M | — | ||
| Q1 24 | $287.9M | — |
总债务AVBRUN
| Q4 25 | $9.3B | $14.7B | ||
| Q3 25 | $8.7B | $14.6B | ||
| Q2 25 | $8.7B | $14.0B | ||
| Q1 25 | $8.3B | $13.6B | ||
| Q4 24 | $8.1B | $12.9B | ||
| Q3 24 | $8.4B | $12.5B | ||
| Q2 24 | $8.4B | $12.0B | ||
| Q1 24 | $8.0B | $11.1B |
股东权益AVBRUN
| Q4 25 | $11.6B | $3.1B | ||
| Q3 25 | $11.9B | $3.0B | ||
| Q2 25 | $11.9B | $2.9B | ||
| Q1 25 | $11.9B | $2.6B | ||
| Q4 24 | $11.9B | $2.6B | ||
| Q3 24 | $11.9B | $5.3B | ||
| Q2 24 | $11.7B | $5.4B | ||
| Q1 24 | $11.7B | $5.2B |
总资产AVBRUN
| Q4 25 | $22.2B | $22.6B | ||
| Q3 25 | $21.9B | $22.2B | ||
| Q2 25 | $21.8B | $21.2B | ||
| Q1 25 | $21.2B | $20.4B | ||
| Q4 24 | $21.0B | $19.9B | ||
| Q3 24 | $21.3B | $22.1B | ||
| Q2 24 | $21.0B | $21.4B | ||
| Q1 24 | $20.6B | $20.8B |
负债/权益比AVBRUN
| Q4 25 | 0.80× | 4.69× | ||
| Q3 25 | 0.73× | 4.90× | ||
| Q2 25 | 0.72× | 4.80× | ||
| Q1 25 | 0.70× | 5.19× | ||
| Q4 24 | 0.68× | 5.05× | ||
| Q3 24 | 0.70× | 2.36× | ||
| Q2 24 | 0.71× | 2.23× | ||
| Q1 24 | 0.68× | 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 | $1.7B | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $1.4B | — |
| 自由现金流率自由现金流/营收 | 183.5% | — |
| 资本支出强度资本支出/营收 | 34.1% | — |
| 现金转化率经营现金流/净利润 | 10.07× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $2.5B | — |
8季度趋势，按日历期对齐
经营现金流AVBRUN
| Q4 25 | $1.7B | $96.9M | ||
| Q3 25 | $477.0M | $-121.5M | ||
| Q2 25 | $377.8M | $-292.7M | ||
| Q1 25 | $415.9M | $-104.2M | ||
| Q4 24 | $1.6B | $-258.4M | ||
| Q3 24 | $486.2M | $-156.2M | ||
| Q2 24 | $380.0M | $-208.5M | ||
| Q1 24 | $412.9M | $-143.1M |
自由现金流AVBRUN
| Q4 25 | $1.4B | — | ||
| Q3 25 | $402.2M | — | ||
| Q2 25 | $317.1M | — | ||
| Q1 25 | $367.5M | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $434.2M | $-156.4M | ||
| Q2 24 | $333.0M | — | ||
| Q1 24 | $375.4M | — |
自由现金流率AVBRUN
| Q4 25 | 183.5% | — | ||
| Q3 25 | 52.5% | — | ||
| Q2 25 | 41.7% | — | ||
| Q1 25 | 49.3% | — | ||
| Q4 24 | 191.0% | — | ||
| Q3 24 | 59.1% | -29.1% | ||
| Q2 24 | 45.9% | — | ||
| Q1 24 | 52.7% | — |
资本支出强度AVBRUN
| Q4 25 | 34.1% | — | ||
| Q3 25 | 9.8% | — | ||
| Q2 25 | 8.0% | — | ||
| Q1 25 | 6.5% | — | ||
| Q4 24 | 26.1% | — | ||
| Q3 24 | 7.1% | 0.0% | ||
| Q2 24 | 6.5% | — | ||
| Q1 24 | 5.3% | — |
现金转化率AVBRUN
| Q4 25 | 10.07× | 0.94× | ||
| Q3 25 | 1.25× | -7.33× | ||
| Q2 25 | 1.41× | -1.05× | ||
| Q1 25 | 1.76× | -2.08× | ||
| Q4 24 | 5.70× | — | ||
| Q3 24 | 1.31× | — | ||
| Q2 24 | 1.50× | -1.50× | ||
| Q1 24 | 2.38× | — |
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
AVB
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% |
