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科慕（CC）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
科慕的季度营收约是Sunrun Inc.的1.1倍（$1.3B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs -3.5%，领先12.5%），Sunrun Inc.同比增速更快（123.5% vs -2.1%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -1.2%）
科慕公司是一家美国化工企业，2015年7月从杜邦分拆成立，总部位于美国特拉华州威尔明顿。公司主营产品包括具备不粘特性的知名品牌特氟龙（聚四氟乙烯PTFE）、二氧化钛以及制冷剂气体，在特种化工领域拥有深厚的技术积累。
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。
CC vs RUN — 直观对比
营收规模更大
CC
是对方的1.1倍
$1.2B
营收增速更快
RUN
高出125.6%
-2.1%
净利率更高
RUN
高出12.5%
-3.5%
两年增速更快
RUN
近两年复合增速
-1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $-47.0M | $103.6M |
| 毛利率 | 11.7% | — |
| 营业利润率 | — | 8.4% |
| 净利率 | -3.5% | 8.9% |
| 营收同比 | -2.1% | 123.5% |
| 净利润同比 | -261.5% | 103.7% |
| 每股收益（稀释后） | $-0.32 | $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CCRUN
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.5B | $724.6M | ||
| Q2 25 | $1.6B | $569.3M | ||
| Q1 25 | $1.4B | $504.3M | ||
| Q4 24 | $1.4B | $518.5M | ||
| Q3 24 | $1.5B | $537.2M | ||
| Q2 24 | $1.6B | $523.9M | ||
| Q1 24 | $1.4B | $458.2M |
净利润CCRUN
| Q4 25 | $-47.0M | $103.6M | ||
| Q3 25 | $46.0M | $16.6M | ||
| Q2 25 | $-380.0M | $279.8M | ||
| Q1 25 | $-5.0M | $50.0M | ||
| Q4 24 | $-13.0M | $-2.8B | ||
| Q3 24 | $-32.0M | $-83.8M | ||
| Q2 24 | $60.0M | $139.1M | ||
| Q1 24 | $54.0M | $-87.8M |
毛利率CCRUN
| Q4 25 | 11.7% | — | ||
| Q3 25 | 15.6% | — | ||
| Q2 25 | 17.2% | — | ||
| Q1 25 | 17.3% | — | ||
| Q4 24 | 19.4% | — | ||
| Q3 24 | 19.0% | — | ||
| Q2 24 | 19.8% | — | ||
| Q1 24 | 20.9% | — |
营业利润率CCRUN
| Q4 25 | — | 8.4% | ||
| Q3 25 | 2.5% | 0.5% | ||
| Q2 25 | -15.4% | -19.7% | ||
| Q1 25 | — | -22.8% | ||
| Q4 24 | -0.1% | -628.0% | ||
| Q3 24 | -2.1% | -23.8% | ||
| Q2 24 | 4.4% | -24.4% | ||
| Q1 24 | 5.1% | -40.0% |
净利率CCRUN
| Q4 25 | -3.5% | 8.9% | ||
| Q3 25 | 3.1% | 2.3% | ||
| Q2 25 | -23.5% | 49.1% | ||
| Q1 25 | -0.4% | 9.9% | ||
| Q4 24 | -1.0% | -542.7% | ||
| Q3 24 | -2.1% | -15.6% | ||
| Q2 24 | 3.9% | 26.5% | ||
| Q1 24 | 4.0% | -19.2% |
每股收益（稀释后）CCRUN
| Q4 25 | $-0.32 | $0.38 | ||
| Q3 25 | $0.31 | $0.06 | ||
| Q2 25 | $-2.53 | $1.07 | ||
| Q1 25 | $-0.03 | $0.20 | ||
| Q4 24 | $-0.07 | $-12.59 | ||
| Q3 24 | $-0.22 | $-0.37 | ||
| Q2 24 | $0.39 | $0.55 | ||
| Q1 24 | $0.36 | $-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 | $670.0M | — |
| 总债务越低越好 | $4.1B | $14.7B |
| 股东权益账面价值 | $250.0M | $3.1B |
| 总资产 | $7.4B | $22.6B |
| 负债/权益比越低杠杆越低 | 16.40× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资CCRUN
| Q4 25 | $670.0M | — | ||
| Q3 25 | $613.0M | — | ||
| Q2 25 | $502.0M | — | ||
| Q1 25 | $464.0M | — | ||
| Q4 24 | $713.0M | — | ||
| Q3 24 | $596.0M | — | ||
| Q2 24 | $604.0M | — | ||
| Q1 24 | $746.0M | — |
总债务CCRUN
| Q4 25 | $4.1B | $14.7B | ||
| Q3 25 | $4.1B | $14.6B | ||
| Q2 25 | $4.1B | $14.0B | ||
| Q1 25 | $4.1B | $13.6B | ||
| Q4 24 | $4.1B | $12.9B | ||
| Q3 24 | $4.0B | $12.5B | ||
| Q2 24 | $4.0B | $12.0B | ||
| Q1 24 | $4.0B | $11.1B |
股东权益CCRUN
| Q4 25 | $250.0M | $3.1B | ||
| Q3 25 | $274.0M | $3.0B | ||
| Q2 25 | $228.0M | $2.9B | ||
| Q1 25 | $566.0M | $2.6B | ||
| Q4 24 | $571.0M | $2.6B | ||
| Q3 24 | $643.0M | $5.3B | ||
| Q2 24 | $714.0M | $5.4B | ||
| Q1 24 | $753.0M | $5.2B |
总资产CCRUN
| Q4 25 | $7.4B | $22.6B | ||
| Q3 25 | $7.5B | $22.2B | ||
| Q2 25 | $7.5B | $21.2B | ||
| Q1 25 | $7.4B | $20.4B | ||
| Q4 24 | $7.5B | $19.9B | ||
| Q3 24 | $7.5B | $22.1B | ||
| Q2 24 | $7.2B | $21.4B | ||
| Q1 24 | $8.0B | $20.8B |
负债/权益比CCRUN
| Q4 25 | 16.40× | 4.69× | ||
| Q3 25 | 14.96× | 4.90× | ||
| Q2 25 | 17.99× | 4.80× | ||
| Q1 25 | 7.18× | 5.19× | ||
| Q4 24 | 7.11× | 5.05× | ||
| Q3 24 | 6.20× | 2.36× | ||
| Q2 24 | 5.53× | 2.23× | ||
| Q1 24 | 5.27× | 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 | $137.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $92.0M | — |
| 自由现金流率自由现金流/营收 | 6.9% | — |
| 资本支出强度资本支出/营收 | 3.4% | — |
| 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 | $51.0M | — |
8季度趋势，按日历期对齐
经营现金流CCRUN
| Q4 25 | $137.0M | $96.9M | ||
| Q3 25 | $146.0M | $-121.5M | ||
| Q2 25 | $93.0M | $-292.7M | ||
| Q1 25 | $-112.0M | $-104.2M | ||
| Q4 24 | $138.0M | $-258.4M | ||
| Q3 24 | $139.0M | $-156.2M | ||
| Q2 24 | $-620.0M | $-208.5M | ||
| Q1 24 | $-290.0M | $-143.1M |
自由现金流CCRUN
| Q4 25 | $92.0M | — | ||
| Q3 25 | $105.0M | — | ||
| Q2 25 | $50.0M | — | ||
| Q1 25 | $-196.0M | — | ||
| Q4 24 | $29.0M | — | ||
| Q3 24 | $63.0M | $-156.4M | ||
| Q2 24 | $-693.0M | — | ||
| Q1 24 | $-392.0M | — |
自由现金流率CCRUN
| Q4 25 | 6.9% | — | ||
| Q3 25 | 7.0% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | -14.3% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 4.2% | -29.1% | ||
| Q2 24 | -44.6% | — | ||
| Q1 24 | -28.8% | — |
资本支出强度CCRUN
| Q4 25 | 3.4% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 2.7% | — | ||
| Q1 25 | 6.1% | — | ||
| Q4 24 | 8.0% | — | ||
| Q3 24 | 5.0% | 0.0% | ||
| Q2 24 | 4.7% | — | ||
| Q1 24 | 7.5% | — |
现金转化率CCRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | 3.17× | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -10.33× | -1.50× | ||
| Q1 24 | -5.37× | — |
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
CC
| Titanium Technologies | $563.0M | 42% |
| Thermal And Specialized Solutions | $443.0M | 33% |
| Advanced Performance Materials | $312.0M | 23% |
| Other Non-Reportable Segment | $12.0M | 1% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
