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BrightView Holdings, Inc.（BV）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BrightView Holdings, Inc.的1.9倍（$1.2B vs $614.7M），Sunrun Inc.净利率更高（8.9% vs -2.5%，领先11.4%），Sunrun Inc.同比增速更快（123.5% vs 2.6%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -4.4%）
BrightView Holdings是美国领先的商业景观服务提供商，业务涵盖景观设计、施工、日常养护、灌溉系统管理、除雪除冰等，服务客户覆盖企业园区、商业中心、住宅社区及公共部门等场景。
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。
BV vs RUN — 直观对比
营收规模更大
RUN
是对方的1.9倍
$614.7M
营收增速更快
RUN
高出120.9%
2.6%
净利率更高
RUN
高出11.4%
-2.5%
两年增速更快
RUN
近两年复合增速
-4.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.7M | $1.2B |
| 净利润 | $-15.2M | $103.6M |
| 毛利率 | 18.6% | — |
| 营业利润率 | -1.2% | 8.4% |
| 净利率 | -2.5% | 8.9% |
| 营收同比 | 2.6% | 123.5% |
| 净利润同比 | -46.2% | 103.7% |
| 每股收益（稀释后） | $-0.26 | $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BVRUN
| Q4 25 | $614.7M | $1.2B | ||
| Q3 25 | $702.7M | $724.6M | ||
| Q2 25 | $708.3M | $569.3M | ||
| Q1 25 | $662.6M | $504.3M | ||
| Q4 24 | $599.2M | $518.5M | ||
| Q3 24 | $728.7M | $537.2M | ||
| Q2 24 | $738.8M | $523.9M | ||
| Q1 24 | $672.9M | $458.2M |
净利润BVRUN
| Q4 25 | $-15.2M | $103.6M | ||
| Q3 25 | $27.7M | $16.6M | ||
| Q2 25 | $32.3M | $279.8M | ||
| Q1 25 | $6.4M | $50.0M | ||
| Q4 24 | $-10.4M | $-2.8B | ||
| Q3 24 | $25.6M | $-83.8M | ||
| Q2 24 | $23.5M | $139.1M | ||
| Q1 24 | $33.7M | $-87.8M |
毛利率BVRUN
| Q4 25 | 18.6% | — | ||
| Q3 25 | 25.1% | — | ||
| Q2 25 | 24.1% | — | ||
| Q1 25 | 22.3% | — | ||
| Q4 24 | 21.2% | — | ||
| Q3 24 | 25.0% | — | ||
| Q2 24 | 24.0% | — | ||
| Q1 24 | 22.6% | — |
营业利润率BVRUN
| Q4 25 | -1.2% | 8.4% | ||
| Q3 25 | 7.9% | 0.5% | ||
| Q2 25 | 8.1% | -19.7% | ||
| Q1 25 | 3.4% | -22.8% | ||
| Q4 24 | -0.1% | -628.0% | ||
| Q3 24 | 7.1% | -23.8% | ||
| Q2 24 | 6.6% | -24.4% | ||
| Q1 24 | 9.2% | -40.0% |
净利率BVRUN
| Q4 25 | -2.5% | 8.9% | ||
| Q3 25 | 3.9% | 2.3% | ||
| Q2 25 | 4.6% | 49.1% | ||
| Q1 25 | 1.0% | 9.9% | ||
| Q4 24 | -1.7% | -542.7% | ||
| Q3 24 | 3.5% | -15.6% | ||
| Q2 24 | 3.2% | 26.5% | ||
| Q1 24 | 5.0% | -19.2% |
每股收益（稀释后）BVRUN
| Q4 25 | $-0.26 | $0.38 | ||
| Q3 25 | $0.21 | $0.06 | ||
| Q2 25 | $0.15 | $1.07 | ||
| Q1 25 | $-0.03 | $0.20 | ||
| Q4 24 | $-0.20 | $-12.59 | ||
| Q3 24 | $0.20 | $-0.37 | ||
| Q2 24 | $0.10 | $0.55 | ||
| Q1 24 | $0.17 | $-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 | $37.0M | — |
| 总债务越低越好 | $801.1M | $14.7B |
| 股东权益账面价值 | $1.3B | $3.1B |
| 总资产 | $3.3B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.64× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资BVRUN
| Q4 25 | $37.0M | — | ||
| Q3 25 | $74.5M | — | ||
| Q2 25 | $79.1M | — | ||
| Q1 25 | $141.3M | — | ||
| Q4 24 | $98.3M | — | ||
| Q3 24 | $140.4M | — | ||
| Q2 24 | $115.9M | — | ||
| Q1 24 | $177.3M | — |
总债务BVRUN
| Q4 25 | $801.1M | $14.7B | ||
| Q3 25 | $790.2M | $14.6B | ||
| Q2 25 | $790.7M | $14.0B | ||
| Q1 25 | $798.9M | $13.6B | ||
| Q4 24 | $796.5M | $12.9B | ||
| Q3 24 | $802.5M | $12.5B | ||
| Q2 24 | — | $12.0B | ||
| Q1 24 | — | $11.1B |
股东权益BVRUN
| Q4 25 | $1.3B | $3.1B | ||
| Q3 25 | $1.3B | $3.0B | ||
| Q2 25 | $1.3B | $2.9B | ||
| Q1 25 | $1.3B | $2.6B | ||
| Q4 24 | $1.3B | $2.6B | ||
| Q3 24 | $1.3B | $5.3B | ||
| Q2 24 | $1.3B | $5.4B | ||
| Q1 24 | $1.2B | $5.2B |
总资产BVRUN
| Q4 25 | $3.3B | $22.6B | ||
| Q3 25 | $3.4B | $22.2B | ||
| Q2 25 | $3.4B | $21.2B | ||
| Q1 25 | $3.3B | $20.4B | ||
| Q4 24 | $3.3B | $19.9B | ||
| Q3 24 | $3.4B | $22.1B | ||
| Q2 24 | $3.4B | $21.4B | ||
| Q1 24 | $3.4B | $20.8B |
负债/权益比BVRUN
| Q4 25 | 0.64× | 4.69× | ||
| Q3 25 | 0.61× | 4.90× | ||
| Q2 25 | 0.62× | 4.80× | ||
| Q1 25 | 0.63× | 5.19× | ||
| Q4 24 | 0.63× | 5.05× | ||
| Q3 24 | 0.63× | 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 | $36.1M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $-18.6M | — |
| 自由现金流率自由现金流/营收 | -3.0% | — |
| 资本支出强度资本支出/营收 | 8.9% | — |
| 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 | $17.2M | — |
8季度趋势，按日历期对齐
经营现金流BVRUN
| Q4 25 | $36.1M | $96.9M | ||
| Q3 25 | $84.4M | $-121.5M | ||
| Q2 25 | $55.7M | $-292.7M | ||
| Q1 25 | $91.2M | $-104.2M | ||
| Q4 24 | $60.5M | $-258.4M | ||
| Q3 24 | $53.5M | $-156.2M | ||
| Q2 24 | $42.6M | $-208.5M | ||
| Q1 24 | $83.3M | $-143.1M |
自由现金流BVRUN
| Q4 25 | $-18.6M | — | ||
| Q3 25 | $26.0M | — | ||
| Q2 25 | $-47.8M | — | ||
| Q1 25 | $57.6M | — | ||
| Q4 24 | $1.8M | — | ||
| Q3 24 | $21.1M | $-156.4M | ||
| Q2 24 | $19.3M | — | ||
| Q1 24 | $70.7M | — |
自由现金流率BVRUN
| Q4 25 | -3.0% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | -6.7% | — | ||
| Q1 25 | 8.7% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 2.9% | -29.1% | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | 10.5% | — |
资本支出强度BVRUN
| Q4 25 | 8.9% | — | ||
| Q3 25 | 8.3% | — | ||
| Q2 25 | 14.6% | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | 9.8% | — | ||
| Q3 24 | 4.4% | 0.0% | ||
| Q2 24 | 3.2% | — | ||
| Q1 24 | 1.9% | — |
现金转化率BVRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | 3.05× | -7.33× | ||
| Q2 25 | 1.72× | -1.05× | ||
| Q1 25 | 14.25× | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.09× | — | ||
| Q2 24 | 1.81× | -1.50× | ||
| Q1 24 | 2.47× | — |
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
BV
| Landscape Maintenance | $368.0M | 60% |
| Development Services Segment | $179.2M | 29% |
| Snow Removal | $68.4M | 11% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
