vs
Barnes & Noble Education, Inc.（BNED）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Barnes & Noble Education, Inc.的1.9倍（$1.2B vs $598.2M），Sunrun Inc.净利率更高（8.9% vs 4.2%，领先4.8%），Sunrun Inc.同比增速更快（123.5% vs 6.9%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 20.0%）
巴诺教育旗下的巴诺书店是美国门店数量最多的图书零售商，目前在美国各地经营着七百多家线下实体门店，是美国本土颇具影响力的线下图书零售企业，深耕图书零售领域多年。
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。
BNED vs RUN — 直观对比
营收规模更大
RUN
是对方的1.9倍
$598.2M
营收增速更快
RUN
高出116.6%
6.9%
净利率更高
RUN
高出4.8%
4.2%
两年增速更快
RUN
近两年复合增速
20.0%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $598.2M | $1.2B |
| 净利润 | $25.0M | $103.6M |
| 毛利率 | 21.7% | — |
| 营业利润率 | 6.8% | 8.4% |
| 净利率 | 4.2% | 8.9% |
| 营收同比 | 6.9% | 123.5% |
| 净利润同比 | -49.7% | 103.7% |
| 每股收益（稀释后） | $0.72 | $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BNEDRUN
| Q4 25 | $598.2M | $1.2B | ||
| Q3 25 | $274.2M | $724.6M | ||
| Q2 25 | $233.0M | $569.3M | ||
| Q1 25 | $419.7M | $504.3M | ||
| Q4 24 | $559.7M | $518.5M | ||
| Q3 24 | $250.9M | $537.2M | ||
| Q2 24 | $192.7M | $523.9M | ||
| Q1 24 | $415.4M | $458.2M |
净利润BNEDRUN
| Q4 25 | $25.0M | $103.6M | ||
| Q3 25 | $-18.3M | $16.6M | ||
| Q2 25 | $-23.0M | $279.8M | ||
| Q1 25 | $17.9M | $50.0M | ||
| Q4 24 | $43.2M | $-2.8B | ||
| Q3 24 | $-103.9M | $-83.8M | ||
| Q2 24 | $-41.9M | $139.1M | ||
| Q1 24 | $-9.3M | $-87.8M |
毛利率BNEDRUN
| Q4 25 | 21.7% | — | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 30.3% | — | ||
| Q1 25 | 22.3% | — | ||
| Q4 24 | 23.0% | — | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 28.7% | — | ||
| Q1 24 | 24.2% | — |
营业利润率BNEDRUN
| Q4 25 | 6.8% | 8.4% | ||
| Q3 25 | -8.4% | 0.5% | ||
| Q2 25 | -4.9% | -19.7% | ||
| Q1 25 | 4.5% | -22.8% | ||
| Q4 24 | 8.4% | -628.0% | ||
| Q3 24 | -15.4% | -23.8% | ||
| Q2 24 | -16.3% | -24.4% | ||
| Q1 24 | 0.4% | -40.0% |
净利率BNEDRUN
| Q4 25 | 4.2% | 8.9% | ||
| Q3 25 | -6.7% | 2.3% | ||
| Q2 25 | -9.9% | 49.1% | ||
| Q1 25 | 4.3% | 9.9% | ||
| Q4 24 | 7.7% | -542.7% | ||
| Q3 24 | -41.4% | -15.6% | ||
| Q2 24 | -21.7% | 26.5% | ||
| Q1 24 | -2.2% | -19.2% |
每股收益（稀释后）BNEDRUN
| Q4 25 | $0.72 | $0.38 | ||
| Q3 25 | $-0.54 | $0.06 | ||
| Q2 25 | $2.97 | $1.07 | ||
| Q1 25 | $0.59 | $0.20 | ||
| Q4 24 | $1.63 | $-12.59 | ||
| Q3 24 | $-7.69 | $-0.37 | ||
| Q2 24 | $-15.68 | $0.55 | ||
| Q1 24 | $-3.49 | $-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 | $11.7M | — |
| 总债务越低越好 | $122.5M | $14.7B |
| 股东权益账面价值 | $283.2M | $3.1B |
| 总资产 | $1.1B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.43× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资BNEDRUN
| Q4 25 | $11.7M | — | ||
| Q3 25 | $7.3M | — | ||
| Q2 25 | $9.1M | — | ||
| Q1 25 | $9.2M | — | ||
| Q4 24 | $11.6M | — | ||
| Q3 24 | $8.2M | — | ||
| Q2 24 | $10.5M | — | ||
| Q1 24 | $8.1M | — |
总债务BNEDRUN
| Q4 25 | $122.5M | $14.7B | ||
| Q3 25 | $170.0M | $14.6B | ||
| Q2 25 | $103.1M | $14.0B | ||
| Q1 25 | $141.2M | $13.6B | ||
| Q4 24 | $177.6M | $12.9B | ||
| Q3 24 | $221.9M | $12.5B | ||
| Q2 24 | $196.3M | $12.0B | ||
| Q1 24 | $30.2M | $11.1B |
股东权益BNEDRUN
| Q4 25 | $283.2M | $3.1B | ||
| Q3 25 | $256.5M | $3.0B | ||
| Q2 25 | $272.2M | $2.9B | ||
| Q1 25 | $292.9M | $2.6B | ||
| Q4 24 | $211.4M | $2.6B | ||
| Q3 24 | $149.8M | $5.3B | ||
| Q2 24 | $80.4M | $5.4B | ||
| Q1 24 | $121.5M | $5.2B |
总资产BNEDRUN
| Q4 25 | $1.1B | $22.6B | ||
| Q3 25 | $950.8M | $22.2B | ||
| Q2 25 | $790.3M | $21.2B | ||
| Q1 25 | $1.1B | $20.4B | ||
| Q4 24 | $1.0B | $19.9B | ||
| Q3 24 | $973.2M | $22.1B | ||
| Q2 24 | $909.9M | $21.4B | ||
| Q1 24 | $1.2B | $20.8B |
负债/权益比BNEDRUN
| Q4 25 | 0.43× | 4.69× | ||
| Q3 25 | 0.66× | 4.90× | ||
| Q2 25 | 0.38× | 4.80× | ||
| Q1 25 | 0.48× | 5.19× | ||
| Q4 24 | 0.84× | 5.05× | ||
| Q3 24 | 1.48× | 2.36× | ||
| Q2 24 | 2.44× | 2.23× | ||
| Q1 24 | 0.25× | 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 | $66.2M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $61.9M | — |
| 自由现金流率自由现金流/营收 | 10.4% | — |
| 资本支出强度资本支出/营收 | 0.7% | — |
| 现金转化率经营现金流/净利润 | 2.65× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $-4.6M | — |
8季度趋势，按日历期对齐
经营现金流BNEDRUN
| Q4 25 | $66.2M | $96.9M | ||
| Q3 25 | $-67.6M | $-121.5M | ||
| Q2 25 | $52.6M | $-292.7M | ||
| Q1 25 | $-41.9M | $-104.2M | ||
| Q4 24 | $47.4M | $-258.4M | ||
| Q3 24 | $-143.5M | $-156.2M | ||
| Q2 24 | $81.7M | $-208.5M | ||
| Q1 24 | $-35.8M | $-143.1M |
自由现金流BNEDRUN
| Q4 25 | $61.9M | — | ||
| Q3 25 | $-71.3M | — | ||
| Q2 25 | $49.5M | — | ||
| Q1 25 | $-44.7M | — | ||
| Q4 24 | $44.4M | — | ||
| Q3 24 | $-147.5M | $-156.4M | ||
| Q2 24 | $79.1M | — | ||
| Q1 24 | $-39.0M | — |
自由现金流率BNEDRUN
| Q4 25 | 10.4% | — | ||
| Q3 25 | -26.0% | — | ||
| Q2 25 | 21.3% | — | ||
| Q1 25 | -10.7% | — | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | -58.8% | -29.1% | ||
| Q2 24 | 41.1% | — | ||
| Q1 24 | -9.4% | — |
资本支出强度BNEDRUN
| Q4 25 | 0.7% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 1.6% | 0.0% | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 0.8% | — |
现金转化率BNEDRUN
| Q4 25 | 2.65× | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | -2.34× | -2.08× | ||
| Q4 24 | 1.10× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | — | — |
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
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
