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Bath & Body Works, Inc.（BBWI）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
Bath & Body Works, Inc.的季度营收约是Sunrun Inc.的1.4倍（$1.6B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs 4.8%，领先4.1%），Sunrun Inc.同比增速更快（123.5% vs -1.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -26.0%）
Bath & Body Works, Inc.是总部位于美国俄亥俄州哥伦布市的特色零售企业，旗下拥有同名身体护理及家居香氛零售品牌Bath & Body Works，2023年营收达74亿美元，在2024年《财富》美国500强榜单中位列第481位。
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。
BBWI vs RUN — 直观对比
营收规模更大
BBWI
是对方的1.4倍
$1.2B
营收增速更快
RUN
高出124.5%
-1.0%
净利率更高
RUN
高出4.1%
4.8%
两年增速更快
RUN
近两年复合增速
-26.0%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $77.0M | $103.6M |
| 毛利率 | 41.3% | — |
| 营业利润率 | 10.1% | 8.4% |
| 净利率 | 4.8% | 8.9% |
| 营收同比 | -1.0% | 123.5% |
| 净利润同比 | -27.4% | 103.7% |
| 每股收益（稀释后） | $0.37 | $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BBWIRUN
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.5B | $724.6M | ||
| Q2 25 | $1.4B | $569.3M | ||
| Q1 25 | $2.8B | $504.3M | ||
| Q4 24 | $1.6B | $518.5M | ||
| Q3 24 | $1.5B | $537.2M | ||
| Q2 24 | $1.4B | $523.9M | ||
| Q1 24 | $2.9B | $458.2M |
净利润BBWIRUN
| Q4 25 | $77.0M | $103.6M | ||
| Q3 25 | $64.0M | $16.6M | ||
| Q2 25 | $105.0M | $279.8M | ||
| Q1 25 | $453.0M | $50.0M | ||
| Q4 24 | $106.0M | $-2.8B | ||
| Q3 24 | $152.0M | $-83.8M | ||
| Q2 24 | $87.0M | $139.1M | ||
| Q1 24 | $579.0M | $-87.8M |
毛利率BBWIRUN
| Q4 25 | 41.3% | — | ||
| Q3 25 | 41.3% | — | ||
| Q2 25 | 45.4% | — | ||
| Q1 25 | 46.7% | — | ||
| Q4 24 | 43.5% | — | ||
| Q3 24 | 41.0% | — | ||
| Q2 24 | 43.8% | — | ||
| Q1 24 | 45.9% | — |
营业利润率BBWIRUN
| Q4 25 | 10.1% | 8.4% | ||
| Q3 25 | 10.1% | 0.5% | ||
| Q2 25 | 14.7% | -19.7% | ||
| Q1 25 | 24.3% | -22.8% | ||
| Q4 24 | 13.5% | -628.0% | ||
| Q3 24 | 12.0% | -23.8% | ||
| Q2 24 | 13.5% | -24.4% | ||
| Q1 24 | 23.9% | -40.0% |
净利率BBWIRUN
| Q4 25 | 4.8% | 8.9% | ||
| Q3 25 | 4.1% | 2.3% | ||
| Q2 25 | 7.4% | 49.1% | ||
| Q1 25 | 16.3% | 9.9% | ||
| Q4 24 | 6.6% | -542.7% | ||
| Q3 24 | 10.0% | -15.6% | ||
| Q2 24 | 6.3% | 26.5% | ||
| Q1 24 | 19.9% | -19.2% |
每股收益（稀释后）BBWIRUN
| Q4 25 | $0.37 | $0.38 | ||
| Q3 25 | $0.30 | $0.06 | ||
| Q2 25 | $0.49 | $1.07 | ||
| Q1 25 | $2.06 | $0.20 | ||
| Q4 24 | $0.49 | $-12.59 | ||
| Q3 24 | $0.68 | $-0.37 | ||
| Q2 24 | $0.38 | $0.55 | ||
| Q1 24 | $2.54 | $-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 | $236.0M | — |
| 总债务越低越好 | $3.9B | $14.7B |
| 股东权益账面价值 | $-1.6B | $3.1B |
| 总资产 | $5.0B | $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BBWIRUN
| Q4 25 | $236.0M | — | ||
| Q3 25 | $364.0M | — | ||
| Q2 25 | $636.0M | — | ||
| Q1 25 | $674.0M | — | ||
| Q4 24 | $191.0M | — | ||
| Q3 24 | $514.0M | — | ||
| Q2 24 | $855.0M | — | ||
| Q1 24 | $1.1B | — |
总债务BBWIRUN
| Q4 25 | $3.9B | $14.7B | ||
| Q3 25 | $3.9B | $14.6B | ||
| Q2 25 | $3.9B | $14.0B | ||
| Q1 25 | $3.9B | $13.6B | ||
| Q4 24 | $4.2B | $12.9B | ||
| Q3 24 | $4.2B | $12.5B | ||
| Q2 24 | $4.3B | $12.0B | ||
| Q1 24 | $4.4B | $11.1B |
股东权益BBWIRUN
| Q4 25 | $-1.6B | $3.1B | ||
| Q3 25 | $-1.5B | $3.0B | ||
| Q2 25 | $-1.5B | $2.9B | ||
| Q1 25 | $-1.4B | $2.6B | ||
| Q4 24 | $-1.7B | $2.6B | ||
| Q3 24 | $-1.7B | $5.3B | ||
| Q2 24 | $-1.7B | $5.4B | ||
| Q1 24 | $-1.6B | $5.2B |
总资产BBWIRUN
| Q4 25 | $5.0B | $22.6B | ||
| Q3 25 | $4.8B | $22.2B | ||
| Q2 25 | $4.9B | $21.2B | ||
| Q1 25 | $4.9B | $20.4B | ||
| Q4 24 | $5.0B | $19.9B | ||
| Q3 24 | $4.9B | $22.1B | ||
| Q2 24 | $5.2B | $21.4B | ||
| Q1 24 | $5.5B | $20.8B |
负债/权益比BBWIRUN
| 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 | — | 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 | $80.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $-1.0M | — |
| 自由现金流率自由现金流/营收 | -0.1% | — |
| 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 | 1.04× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $946.0M | — |
8季度趋势，按日历期对齐
经营现金流BBWIRUN
| Q4 25 | $80.0M | $96.9M | ||
| Q3 25 | $-43.0M | $-121.5M | ||
| Q2 25 | $188.0M | $-292.7M | ||
| Q1 25 | $955.0M | $-104.2M | ||
| Q4 24 | $-99.0M | $-258.4M | ||
| Q3 24 | $-46.0M | $-156.2M | ||
| Q2 24 | $76.0M | $-208.5M | ||
| Q1 24 | $926.0M | $-143.1M |
自由现金流BBWIRUN
| Q4 25 | $-1.0M | — | ||
| Q3 25 | $-99.0M | — | ||
| Q2 25 | $151.0M | — | ||
| Q1 25 | $895.0M | — | ||
| Q4 24 | $-164.0M | — | ||
| Q3 24 | $-101.0M | $-156.4M | ||
| Q2 24 | $30.0M | — | ||
| Q1 24 | $878.0M | — |
自由现金流率BBWIRUN
| Q4 25 | -0.1% | — | ||
| Q3 25 | -6.4% | — | ||
| Q2 25 | 10.6% | — | ||
| Q1 25 | 32.1% | — | ||
| Q4 24 | -10.2% | — | ||
| Q3 24 | -6.6% | -29.1% | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 30.2% | — |
资本支出强度BBWIRUN
| Q4 25 | 5.1% | — | ||
| Q3 25 | 3.6% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 3.6% | 0.0% | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | 1.6% | — |
现金转化率BBWIRUN
| Q4 25 | 1.04× | 0.94× | ||
| Q3 25 | -0.67× | -7.33× | ||
| Q2 25 | 1.79× | -1.05× | ||
| Q1 25 | 2.11× | -2.08× | ||
| Q4 24 | -0.93× | — | ||
| Q3 24 | -0.30× | — | ||
| Q2 24 | 0.87× | -1.50× | ||
| Q1 24 | 1.60× | — |
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
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
