vs
CREDIT ACCEPTANCE CORP（CACC）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CREDIT ACCEPTANCE CORP的2.0倍（$1.2B vs $579.9M），CREDIT ACCEPTANCE CORP净利率更高（21.0% vs 8.9%，领先12.1%），Sunrun Inc.同比增速更快（123.5% vs 2.5%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 6.8%）
Credit Acceptance是一家汽车金融服务提供商，主要提供汽车贷款及相关金融产品。公司通过覆盖全国的合作汽车经销商网络开展业务，设有“投资组合计划”和“采购计划”两大业务项目，可向汽车经销商提供资金，以此换取对应消费者贷款的后续服务权利。
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。
CACC vs RUN — 直观对比
营收规模更大
RUN
是对方的2.0倍
$579.9M
营收增速更快
RUN
高出121.0%
2.5%
净利率更高
CACC
高出12.1%
8.9%
两年增速更快
RUN
近两年复合增速
6.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $579.9M | $1.2B |
| 净利润 | $122.0M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 27.1% | 8.4% |
| 净利率 | 21.0% | 8.9% |
| 营收同比 | 2.5% | 123.5% |
| 净利润同比 | -19.7% | 103.7% |
| 每股收益（稀释后） | $10.87 | $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CACCRUN
| Q4 25 | $579.9M | $1.2B | ||
| Q3 25 | $582.4M | $724.6M | ||
| Q2 25 | $583.8M | $569.3M | ||
| Q1 25 | $571.1M | $504.3M | ||
| Q4 24 | $565.9M | $518.5M | ||
| Q3 24 | $550.3M | $537.2M | ||
| Q2 24 | $538.2M | $523.9M | ||
| Q1 24 | $508.0M | $458.2M |
净利润CACCRUN
| Q4 25 | $122.0M | $103.6M | ||
| Q3 25 | $108.2M | $16.6M | ||
| Q2 25 | $87.4M | $279.8M | ||
| Q1 25 | $106.3M | $50.0M | ||
| Q4 24 | $151.9M | $-2.8B | ||
| Q3 24 | $78.8M | $-83.8M | ||
| Q2 24 | $-47.1M | $139.1M | ||
| Q1 24 | $64.3M | $-87.8M |
营业利润率CACCRUN
| Q4 25 | 27.1% | 8.4% | ||
| Q3 25 | 25.6% | 0.5% | ||
| Q2 25 | 20.2% | -19.7% | ||
| Q1 25 | 24.8% | -22.8% | ||
| Q4 24 | 33.9% | -628.0% | ||
| Q3 24 | 19.4% | -23.8% | ||
| Q2 24 | -10.3% | -24.4% | ||
| Q1 24 | 17.0% | -40.0% |
净利率CACCRUN
| Q4 25 | 21.0% | 8.9% | ||
| Q3 25 | 18.6% | 2.3% | ||
| Q2 25 | 15.0% | 49.1% | ||
| Q1 25 | 18.6% | 9.9% | ||
| Q4 24 | 26.8% | -542.7% | ||
| Q3 24 | 14.3% | -15.6% | ||
| Q2 24 | -8.8% | 26.5% | ||
| Q1 24 | 12.7% | -19.2% |
每股收益（稀释后）CACCRUN
| Q4 25 | $10.87 | $0.38 | ||
| Q3 25 | $9.43 | $0.06 | ||
| Q2 25 | $7.42 | $1.07 | ||
| Q1 25 | $8.66 | $0.20 | ||
| Q4 24 | $12.28 | $-12.59 | ||
| Q3 24 | $6.35 | $-0.37 | ||
| Q2 24 | $-3.83 | $0.55 | ||
| Q1 24 | $5.08 | $-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 | $22.8M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $1.5B | $3.1B |
| 总资产 | $8.6B | $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CACCRUN
| Q4 25 | $22.8M | — | ||
| Q3 25 | $15.9M | — | ||
| Q2 25 | $70.0M | — | ||
| Q1 25 | $528.8M | — | ||
| Q4 24 | $343.7M | — | ||
| Q3 24 | $159.7M | — | ||
| Q2 24 | $8.3M | — | ||
| Q1 24 | $8.4M | — |
总债务CACCRUN
| Q4 25 | — | $14.7B | ||
| Q3 25 | — | $14.6B | ||
| Q2 25 | — | $14.0B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | — | $12.9B | ||
| Q3 24 | — | $12.5B | ||
| Q2 24 | — | $12.0B | ||
| Q1 24 | — | $11.1B |
股东权益CACCRUN
| Q4 25 | $1.5B | $3.1B | ||
| Q3 25 | $1.6B | $3.0B | ||
| Q2 25 | $1.6B | $2.9B | ||
| Q1 25 | $1.7B | $2.6B | ||
| Q4 24 | $1.7B | $2.6B | ||
| Q3 24 | $1.6B | $5.3B | ||
| Q2 24 | $1.6B | $5.4B | ||
| Q1 24 | $1.7B | $5.2B |
总资产CACCRUN
| Q4 25 | $8.6B | $22.6B | ||
| Q3 25 | $8.6B | $22.2B | ||
| Q2 25 | $8.7B | $21.2B | ||
| Q1 25 | $9.3B | $20.4B | ||
| Q4 24 | $8.9B | $19.9B | ||
| Q3 24 | $8.7B | $22.1B | ||
| Q2 24 | $8.3B | $21.4B | ||
| Q1 24 | $8.1B | $20.8B |
负债/权益比CACCRUN
| Q4 25 | — | 4.69× | ||
| Q3 25 | — | 4.90× | ||
| Q2 25 | — | 4.80× | ||
| Q1 25 | — | 5.19× | ||
| Q4 24 | — | 5.05× | ||
| Q3 24 | — | 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 | $269.3M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $268.9M | — |
| 自由现金流率自由现金流/营收 | 46.4% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | 2.21× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $1.1B | — |
8季度趋势，按日历期对齐
经营现金流CACCRUN
| Q4 25 | $269.3M | $96.9M | ||
| Q3 25 | $299.4M | $-121.5M | ||
| Q2 25 | $139.7M | $-292.7M | ||
| Q1 25 | $346.2M | $-104.2M | ||
| Q4 24 | $306.2M | $-258.4M | ||
| Q3 24 | $317.7M | $-156.2M | ||
| Q2 24 | $204.0M | $-208.5M | ||
| Q1 24 | $310.0M | $-143.1M |
自由现金流CACCRUN
| Q4 25 | $268.9M | — | ||
| Q3 25 | $298.8M | — | ||
| Q2 25 | $139.4M | — | ||
| Q1 25 | $345.9M | — | ||
| Q4 24 | $305.5M | — | ||
| Q3 24 | $317.3M | $-156.4M | ||
| Q2 24 | $203.6M | — | ||
| Q1 24 | $309.7M | — |
自由现金流率CACCRUN
| Q4 25 | 46.4% | — | ||
| Q3 25 | 51.3% | — | ||
| Q2 25 | 23.9% | — | ||
| Q1 25 | 60.6% | — | ||
| Q4 24 | 54.0% | — | ||
| Q3 24 | 57.7% | -29.1% | ||
| Q2 24 | 37.8% | — | ||
| Q1 24 | 61.0% | — |
资本支出强度CACCRUN
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.1% | — |
现金转化率CACCRUN
| Q4 25 | 2.21× | 0.94× | ||
| Q3 25 | 2.77× | -7.33× | ||
| Q2 25 | 1.60× | -1.05× | ||
| Q1 25 | 3.26× | -2.08× | ||
| Q4 24 | 2.02× | — | ||
| Q3 24 | 4.03× | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | 4.82× | — |
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
CACC
| Loans Receivable | $553.0M | 95% |
| Other | $26.9M | 5% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
