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BRIGHT HORIZONS FAMILY SOLUTIONS INC.（BFAM）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BRIGHT HORIZONS FAMILY SOLUTIONS INC.的1.6倍（$1.2B vs $733.7M），Sunrun Inc.同比增速更快（123.5% vs 8.8%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 8.5%）
Bright Horizons Family Solutions总部位于美国马萨诸塞州牛顿市，是美国规模最大的雇主赞助育儿服务运营商，除核心育儿服务外，还提供备用育儿、老人照护、学费项目管理、教育咨询、学生贷款偿还方案等多元服务，覆盖企业员工福利及教育支持领域。
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。
BFAM vs RUN — 直观对比
营收规模更大
RUN
是对方的1.6倍
$733.7M
营收增速更快
RUN
高出114.7%
8.8%
两年增速更快
RUN
近两年复合增速
8.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $733.7M | $1.2B |
| 净利润 | — | $103.6M |
| 毛利率 | 19.3% | — |
| 营业利润率 | 6.2% | 8.4% |
| 净利率 | — | 8.9% |
| 营收同比 | 8.8% | 123.5% |
| 净利润同比 | — | 103.7% |
| 每股收益（稀释后） | $0.38 | $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BFAMRUN
| Q4 25 | $733.7M | $1.2B | ||
| Q3 25 | $802.8M | $724.6M | ||
| Q2 25 | $731.6M | $569.3M | ||
| Q1 25 | $665.5M | $504.3M | ||
| Q4 24 | $674.1M | $518.5M | ||
| Q3 24 | $719.1M | $537.2M | ||
| Q2 24 | $670.1M | $523.9M | ||
| Q1 24 | $622.7M | $458.2M |
净利润BFAMRUN
| Q4 25 | — | $103.6M | ||
| Q3 25 | $78.6M | $16.6M | ||
| Q2 25 | $54.8M | $279.8M | ||
| Q1 25 | $38.0M | $50.0M | ||
| Q4 24 | — | $-2.8B | ||
| Q3 24 | $54.9M | $-83.8M | ||
| Q2 24 | $39.2M | $139.1M | ||
| Q1 24 | $17.0M | $-87.8M |
毛利率BFAMRUN
| Q4 25 | 19.3% | — | ||
| Q3 25 | 27.0% | — | ||
| Q2 25 | 25.0% | — | ||
| Q1 25 | 23.4% | — | ||
| Q4 24 | 20.8% | — | ||
| Q3 24 | 25.2% | — | ||
| Q2 24 | 24.2% | — | ||
| Q1 24 | 21.7% | — |
营业利润率BFAMRUN
| Q4 25 | 6.2% | 8.4% | ||
| Q3 25 | 15.1% | 0.5% | ||
| Q2 25 | 11.8% | -19.7% | ||
| Q1 25 | 9.4% | -22.8% | ||
| Q4 24 | 7.2% | -628.0% | ||
| Q3 24 | 12.4% | -23.8% | ||
| Q2 24 | 10.3% | -24.4% | ||
| Q1 24 | 6.4% | -40.0% |
净利率BFAMRUN
| Q4 25 | — | 8.9% | ||
| Q3 25 | 9.8% | 2.3% | ||
| Q2 25 | 7.5% | 49.1% | ||
| Q1 25 | 5.7% | 9.9% | ||
| Q4 24 | — | -542.7% | ||
| Q3 24 | 7.6% | -15.6% | ||
| Q2 24 | 5.8% | 26.5% | ||
| Q1 24 | 2.7% | -19.2% |
每股收益（稀释后）BFAMRUN
| Q4 25 | $0.38 | $0.38 | ||
| Q3 25 | $1.37 | $0.06 | ||
| Q2 25 | $0.95 | $1.07 | ||
| Q1 25 | $0.66 | $0.20 | ||
| Q4 24 | $0.50 | $-12.59 | ||
| Q3 24 | $0.94 | $-0.37 | ||
| Q2 24 | $0.67 | $0.55 | ||
| Q1 24 | $0.29 | $-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 | $140.1M | — |
| 总债务越低越好 | $747.6M | $14.7B |
| 股东权益账面价值 | $1.3B | $3.1B |
| 总资产 | $3.9B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.56× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资BFAMRUN
| Q4 25 | $140.1M | — | ||
| Q3 25 | $116.6M | — | ||
| Q2 25 | $179.2M | — | ||
| Q1 25 | $112.0M | — | ||
| Q4 24 | $110.3M | — | ||
| Q3 24 | $109.9M | — | ||
| Q2 24 | $140.2M | — | ||
| Q1 24 | $63.7M | — |
总债务BFAMRUN
| Q4 25 | $747.6M | $14.7B | ||
| Q3 25 | $747.5M | $14.6B | ||
| Q2 25 | $797.0M | $14.0B | ||
| Q1 25 | $872.7M | $13.6B | ||
| Q4 24 | $918.4M | $12.9B | ||
| Q3 24 | $925.7M | $12.5B | ||
| Q2 24 | $931.9M | $12.0B | ||
| Q1 24 | $938.1M | $11.1B |
股东权益BFAMRUN
| Q4 25 | $1.3B | $3.1B | ||
| Q3 25 | $1.4B | $3.0B | ||
| Q2 25 | $1.4B | $2.9B | ||
| Q1 25 | $1.3B | $2.6B | ||
| Q4 24 | $1.3B | $2.6B | ||
| Q3 24 | $1.4B | $5.3B | ||
| Q2 24 | $1.3B | $5.4B | ||
| Q1 24 | $1.2B | $5.2B |
总资产BFAMRUN
| Q4 25 | $3.9B | $22.6B | ||
| Q3 25 | $3.9B | $22.2B | ||
| Q2 25 | $3.9B | $21.2B | ||
| Q1 25 | $3.8B | $20.4B | ||
| Q4 24 | $3.9B | $19.9B | ||
| Q3 24 | $3.9B | $22.1B | ||
| Q2 24 | $3.8B | $21.4B | ||
| Q1 24 | $3.8B | $20.8B |
负债/权益比BFAMRUN
| Q4 25 | 0.56× | 4.69× | ||
| Q3 25 | 0.52× | 4.90× | ||
| Q2 25 | 0.57× | 4.80× | ||
| Q1 25 | 0.66× | 5.19× | ||
| Q4 24 | 0.72× | 5.05× | ||
| Q3 24 | 0.66× | 2.36× | ||
| Q2 24 | 0.73× | 2.23× | ||
| Q1 24 | 0.76× | 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 | $350.7M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $258.5M | — |
| 自由现金流率自由现金流/营收 | 35.2% | — |
| 资本支出强度资本支出/营收 | 12.6% | — |
| 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 | $402.4M | — |
8季度趋势，按日历期对齐
经营现金流BFAMRUN
| Q4 25 | $350.7M | $96.9M | ||
| Q3 25 | $-17.6M | $-121.5M | ||
| Q2 25 | $134.2M | $-292.7M | ||
| Q1 25 | $86.2M | $-104.2M | ||
| Q4 24 | $337.5M | $-258.4M | ||
| Q3 24 | $-8.9M | $-156.2M | ||
| Q2 24 | $109.4M | $-208.5M | ||
| Q1 24 | $116.3M | $-143.1M |
自由现金流BFAMRUN
| Q4 25 | $258.5M | — | ||
| Q3 25 | $-42.4M | — | ||
| Q2 25 | $115.4M | — | ||
| Q1 25 | $70.9M | — | ||
| Q4 24 | $240.2M | — | ||
| Q3 24 | $-32.2M | $-156.4M | ||
| Q2 24 | $86.8M | — | ||
| Q1 24 | $96.9M | — |
自由现金流率BFAMRUN
| Q4 25 | 35.2% | — | ||
| Q3 25 | -5.3% | — | ||
| Q2 25 | 15.8% | — | ||
| Q1 25 | 10.7% | — | ||
| Q4 24 | 35.6% | — | ||
| Q3 24 | -4.5% | -29.1% | ||
| Q2 24 | 13.0% | — | ||
| Q1 24 | 15.6% | — |
资本支出强度BFAMRUN
| Q4 25 | 12.6% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 2.3% | — | ||
| Q4 24 | 14.4% | — | ||
| Q3 24 | 3.2% | 0.0% | ||
| Q2 24 | 3.4% | — | ||
| Q1 24 | 3.1% | — |
现金转化率BFAMRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | -0.22× | -7.33× | ||
| Q2 25 | 2.45× | -1.05× | ||
| Q1 25 | 2.26× | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.16× | — | ||
| Q2 24 | 2.79× | -1.50× | ||
| Q1 24 | 6.85× | — |
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
BFAM
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% |
