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BENCHMARK ELECTRONICS INC（BHE）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BENCHMARK ELECTRONICS INC的1.7倍（$1.2B vs $677.3M），Sunrun Inc.净利率更高（8.9% vs 1.9%，领先7.0%），Sunrun Inc.同比增速更快（123.5% vs 11.4%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -0.7%）
Benchmark Electronics Inc是总部位于美国亚利桑那州坦佩市的电子制造服务（EMS）、原始设计制造（ODM）及原始设备制造（OEM）企业，为客户提供专业的合同制造服务，业务覆盖全球多个区域的电子产业链需求。
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。
BHE vs RUN — 直观对比
营收规模更大
RUN
是对方的1.7倍
$677.3M
营收增速更快
RUN
高出112.1%
11.4%
净利率更高
RUN
高出7.0%
1.9%
两年增速更快
RUN
近两年复合增速
-0.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $677.3M | $1.2B |
| 净利润 | $13.0M | $103.6M |
| 毛利率 | 10.2% | — |
| 营业利润率 | 3.2% | 8.4% |
| 净利率 | 1.9% | 8.9% |
| 营收同比 | 11.4% | 123.5% |
| 净利润同比 | 257.4% | 103.7% |
| 每股收益（稀释后） | $0.17 | $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BHERUN
| Q1 26 | $677.3M | — | ||
| Q4 25 | $725.8M | $1.2B | ||
| Q3 25 | $702.6M | $724.6M | ||
| Q2 25 | $665.7M | $569.3M | ||
| Q1 25 | $654.6M | $504.3M | ||
| Q4 24 | $683.6M | $518.5M | ||
| Q3 24 | $680.0M | $537.2M | ||
| Q2 24 | $686.7M | $523.9M |
净利润BHERUN
| Q1 26 | $13.0M | — | ||
| Q4 25 | — | $103.6M | ||
| Q3 25 | $14.3M | $16.6M | ||
| Q2 25 | $972.0K | $279.8M | ||
| Q1 25 | $3.6M | $50.0M | ||
| Q4 24 | — | $-2.8B | ||
| Q3 24 | $15.4M | $-83.8M | ||
| Q2 24 | $15.5M | $139.1M |
毛利率BHERUN
| Q1 26 | 10.2% | — | ||
| Q4 25 | 10.2% | — | ||
| Q3 25 | 9.7% | — | ||
| Q2 25 | 9.7% | — | ||
| Q1 25 | 9.7% | — | ||
| Q4 24 | 9.9% | — | ||
| Q3 24 | 9.8% | — | ||
| Q2 24 | 9.9% | — |
营业利润率BHERUN
| Q1 26 | 3.2% | — | ||
| Q4 25 | 2.8% | 8.4% | ||
| Q3 25 | 3.4% | 0.5% | ||
| Q2 25 | 3.1% | -19.7% | ||
| Q1 25 | 1.8% | -22.8% | ||
| Q4 24 | 4.2% | -628.0% | ||
| Q3 24 | 4.1% | -23.8% | ||
| Q2 24 | 4.0% | -24.4% |
净利率BHERUN
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | 8.9% | ||
| Q3 25 | 2.0% | 2.3% | ||
| Q2 25 | 0.1% | 49.1% | ||
| Q1 25 | 0.6% | 9.9% | ||
| Q4 24 | — | -542.7% | ||
| Q3 24 | 2.3% | -15.6% | ||
| Q2 24 | 2.3% | 26.5% |
每股收益（稀释后）BHERUN
| Q1 26 | $0.17 | — | ||
| Q4 25 | $0.16 | $0.38 | ||
| Q3 25 | $0.39 | $0.06 | ||
| Q2 25 | $0.03 | $1.07 | ||
| Q1 25 | $0.10 | $0.20 | ||
| Q4 24 | $0.43 | $-12.59 | ||
| Q3 24 | $0.42 | $-0.37 | ||
| Q2 24 | $0.43 | $0.55 |
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 | $324.9M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | — | $3.1B |
| 总资产 | $2.1B | $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BHERUN
| Q1 26 | $324.9M | — | ||
| Q4 25 | $322.1M | — | ||
| Q3 25 | $285.4M | — | ||
| Q2 25 | $264.6M | — | ||
| Q1 25 | $355.3M | — | ||
| Q4 24 | $315.2M | — | ||
| Q3 24 | $324.4M | — | ||
| Q2 24 | $309.3M | — |
总债务BHERUN
| Q1 26 | — | — | ||
| Q4 25 | $206.8M | $14.7B | ||
| Q3 25 | $212.6M | $14.6B | ||
| Q2 25 | $203.4M | $14.0B | ||
| Q1 25 | $268.9M | $13.6B | ||
| Q4 24 | $250.5M | $12.9B | ||
| Q3 24 | $272.0M | $12.5B | ||
| Q2 24 | $283.6M | $12.0B |
股东权益BHERUN
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $3.1B | ||
| Q3 25 | $1.1B | $3.0B | ||
| Q2 25 | $1.1B | $2.9B | ||
| Q1 25 | $1.1B | $2.6B | ||
| Q4 24 | $1.1B | $2.6B | ||
| Q3 24 | $1.1B | $5.3B | ||
| Q2 24 | $1.1B | $5.4B |
总资产BHERUN
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $22.6B | ||
| Q3 25 | $2.1B | $22.2B | ||
| Q2 25 | $2.0B | $21.2B | ||
| Q1 25 | $2.1B | $20.4B | ||
| Q4 24 | $2.1B | $19.9B | ||
| Q3 24 | $2.1B | $22.1B | ||
| Q2 24 | $2.2B | $21.4B |
负债/权益比BHERUN
| Q1 26 | — | — | ||
| Q4 25 | 0.19× | 4.69× | ||
| Q3 25 | 0.19× | 4.90× | ||
| Q2 25 | 0.18× | 4.80× | ||
| Q1 25 | 0.24× | 5.19× | ||
| Q4 24 | 0.23× | 5.05× | ||
| Q3 24 | 0.25× | 2.36× | ||
| Q2 24 | 0.26× | 2.23× |
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 | $47.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $48.1M | — |
| 自由现金流率自由现金流/营收 | 7.1% | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 3.61× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $108.3M | — |
8季度趋势，按日历期对齐
经营现金流BHERUN
| Q1 26 | $47.0M | — | ||
| Q4 25 | $58.7M | $96.9M | ||
| Q3 25 | $36.6M | $-121.5M | ||
| Q2 25 | $-2.8M | $-292.7M | ||
| Q1 25 | $31.5M | $-104.2M | ||
| Q4 24 | $45.9M | $-258.4M | ||
| Q3 24 | $39.0M | $-156.2M | ||
| Q2 24 | $55.8M | $-208.5M |
自由现金流BHERUN
| Q1 26 | $48.1M | — | ||
| Q4 25 | $48.2M | — | ||
| Q3 25 | $25.8M | — | ||
| Q2 25 | $-13.8M | — | ||
| Q1 25 | $28.1M | — | ||
| Q4 24 | $37.2M | — | ||
| Q3 24 | $29.2M | $-156.4M | ||
| Q2 24 | $48.2M | — |
自由现金流率BHERUN
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.6% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | -2.1% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 4.3% | -29.1% | ||
| Q2 24 | 7.0% | — |
资本支出强度BHERUN
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 1.4% | 0.0% | ||
| Q2 24 | 1.1% | — |
现金转化率BHERUN
| Q1 26 | 3.61× | — | ||
| Q4 25 | — | 0.94× | ||
| Q3 25 | 2.57× | -7.33× | ||
| Q2 25 | -2.90× | -1.05× | ||
| Q1 25 | 8.65× | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.54× | — | ||
| Q2 24 | 3.59× | -1.50× |
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
BHE
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% |
