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BlueLinx Holdings Inc.（BXC）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BlueLinx Holdings Inc.的1.5倍（$1.2B vs $748.9M），Sunrun Inc.净利率更高（8.9% vs 0.2%，领先8.7%），Sunrun Inc.同比增速更快（123.5% vs 0.2%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 2.5%）
BlueLinx Holdings Inc.是美国经营建材与工业产品的批发分销商，总部位于佐治亚州亚特兰大，目前由Shyam Reddy担任公司总裁兼首席执行官，在美国本土相关分销领域开展业务
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。
BXC vs RUN — 直观对比
营收规模更大
RUN
是对方的1.5倍
$748.9M
营收增速更快
RUN
高出123.3%
0.2%
净利率更高
RUN
高出8.7%
0.2%
两年增速更快
RUN
近两年复合增速
2.5%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $748.9M | $1.2B |
| 净利润 | $1.7M | $103.6M |
| 毛利率 | 14.4% | — |
| 营业利润率 | 1.3% | 8.4% |
| 净利率 | 0.2% | 8.9% |
| 营收同比 | 0.2% | 123.5% |
| 净利润同比 | -89.7% | 103.7% |
| 每股收益（稀释后） | $0.20 | $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BXCRUN
| Q4 25 | — | $1.2B | ||
| Q3 25 | $748.9M | $724.6M | ||
| Q2 25 | $780.1M | $569.3M | ||
| Q1 25 | $709.2M | $504.3M | ||
| Q4 24 | $710.6M | $518.5M | ||
| Q3 24 | $747.3M | $537.2M | ||
| Q2 24 | $768.4M | $523.9M | ||
| Q1 24 | $726.2M | $458.2M |
净利润BXCRUN
| Q4 25 | — | $103.6M | ||
| Q3 25 | $1.7M | $16.6M | ||
| Q2 25 | $4.3M | $279.8M | ||
| Q1 25 | $2.8M | $50.0M | ||
| Q4 24 | — | $-2.8B | ||
| Q3 24 | $16.0M | $-83.8M | ||
| Q2 24 | $14.3M | $139.1M | ||
| Q1 24 | $17.5M | $-87.8M |
毛利率BXCRUN
| Q4 25 | — | — | ||
| Q3 25 | 14.4% | — | ||
| Q2 25 | 15.3% | — | ||
| Q1 25 | 15.7% | — | ||
| Q4 24 | 15.9% | — | ||
| Q3 24 | 16.8% | — | ||
| Q2 24 | 15.9% | — | ||
| Q1 24 | 17.6% | — |
营业利润率BXCRUN
| Q4 25 | — | 8.4% | ||
| Q3 25 | 1.3% | 0.5% | ||
| Q2 25 | 1.9% | -19.7% | ||
| Q1 25 | 1.5% | -22.8% | ||
| Q4 24 | 1.7% | -628.0% | ||
| Q3 24 | 3.2% | -23.8% | ||
| Q2 24 | 3.1% | -24.4% | ||
| Q1 24 | 3.8% | -40.0% |
净利率BXCRUN
| Q4 25 | — | 8.9% | ||
| Q3 25 | 0.2% | 2.3% | ||
| Q2 25 | 0.6% | 49.1% | ||
| Q1 25 | 0.4% | 9.9% | ||
| Q4 24 | — | -542.7% | ||
| Q3 24 | 2.1% | -15.6% | ||
| Q2 24 | 1.9% | 26.5% | ||
| Q1 24 | 2.4% | -19.2% |
每股收益（稀释后）BXCRUN
| Q4 25 | — | $0.38 | ||
| Q3 25 | $0.20 | $0.06 | ||
| Q2 25 | $0.54 | $1.07 | ||
| Q1 25 | $0.33 | $0.20 | ||
| Q4 24 | $0.67 | $-12.59 | ||
| Q3 24 | $1.87 | $-0.37 | ||
| Q2 24 | $1.65 | $0.55 | ||
| Q1 24 | $2.00 | $-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 | $429.4M | — |
| 总债务越低越好 | $598.5M | $14.7B |
| 股东权益账面价值 | $623.0M | $3.1B |
| 总资产 | $1.6B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.96× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资BXCRUN
| Q4 25 | — | — | ||
| Q3 25 | $429.4M | — | ||
| Q2 25 | $386.8M | — | ||
| Q1 25 | $449.0M | — | ||
| Q4 24 | $505.6M | — | ||
| Q3 24 | $526.3M | — | ||
| Q2 24 | $491.4M | — | ||
| Q1 24 | $481.3M | — |
总债务BXCRUN
| Q4 25 | — | $14.7B | ||
| Q3 25 | $598.5M | $14.6B | ||
| Q2 25 | $596.4M | $14.0B | ||
| Q1 25 | $596.6M | $13.6B | ||
| Q4 24 | $575.1M | $12.9B | ||
| Q3 24 | $576.0M | $12.5B | ||
| Q2 24 | $574.6M | $12.0B | ||
| Q1 24 | $574.0M | $11.1B |
股东权益BXCRUN
| Q4 25 | — | $3.1B | ||
| Q3 25 | $623.0M | $3.0B | ||
| Q2 25 | $621.3M | $2.9B | ||
| Q1 25 | $636.1M | $2.6B | ||
| Q4 24 | $646.4M | $2.6B | ||
| Q3 24 | $655.6M | $5.3B | ||
| Q2 24 | $652.3M | $5.4B | ||
| Q1 24 | $653.2M | $5.2B |
总资产BXCRUN
| Q4 25 | — | $22.6B | ||
| Q3 25 | $1.6B | $22.2B | ||
| Q2 25 | $1.6B | $21.2B | ||
| Q1 25 | $1.6B | $20.4B | ||
| Q4 24 | $1.6B | $19.9B | ||
| Q3 24 | $1.6B | $22.1B | ||
| Q2 24 | $1.6B | $21.4B | ||
| Q1 24 | $1.6B | $20.8B |
负债/权益比BXCRUN
| Q4 25 | — | 4.69× | ||
| Q3 25 | 0.96× | 4.90× | ||
| Q2 25 | 0.96× | 4.80× | ||
| Q1 25 | 0.94× | 5.19× | ||
| Q4 24 | 0.89× | 5.05× | ||
| Q3 24 | 0.88× | 2.36× | ||
| Q2 24 | 0.88× | 2.23× | ||
| Q1 24 | 0.88× | 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 | $58.6M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $52.7M | — |
| 自由现金流率自由现金流/营收 | 7.0% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 现金转化率经营现金流/净利润 | 35.42× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $-25.1M | — |
8季度趋势，按日历期对齐
经营现金流BXCRUN
| Q4 25 | — | $96.9M | ||
| Q3 25 | $58.6M | $-121.5M | ||
| Q2 25 | $-26.8M | $-292.7M | ||
| Q1 25 | $-33.9M | $-104.2M | ||
| Q4 24 | $18.7M | $-258.4M | ||
| Q3 24 | $61.8M | $-156.2M | ||
| Q2 24 | $35.8M | $-208.5M | ||
| Q1 24 | $-31.1M | $-143.1M |
自由现金流BXCRUN
| Q4 25 | — | — | ||
| Q3 25 | $52.7M | — | ||
| Q2 25 | $-36.4M | — | ||
| Q1 25 | $-39.8M | — | ||
| Q4 24 | $-1.5M | — | ||
| Q3 24 | $53.8M | $-156.4M | ||
| Q2 24 | $29.3M | — | ||
| Q1 24 | $-36.6M | — |
自由现金流率BXCRUN
| Q4 25 | — | — | ||
| Q3 25 | 7.0% | — | ||
| Q2 25 | -4.7% | — | ||
| Q1 25 | -5.6% | — | ||
| Q4 24 | -0.2% | — | ||
| Q3 24 | 7.2% | -29.1% | ||
| Q2 24 | 3.8% | — | ||
| Q1 24 | -5.0% | — |
资本支出强度BXCRUN
| Q4 25 | — | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 1.2% | — | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 1.1% | 0.0% | ||
| Q2 24 | 0.8% | — | ||
| Q1 24 | 0.8% | — |
现金转化率BXCRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | 35.42× | -7.33× | ||
| Q2 25 | -6.21× | -1.05× | ||
| Q1 25 | -12.09× | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.86× | — | ||
| Q2 24 | 2.50× | -1.50× | ||
| Q1 24 | -1.78× | — |
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
BXC
| Specialty Products | $525.5M | 70% |
| Structural Products | $223.4M | 30% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
