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CULLEN/FROST BANKERS, INC.（CFR）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CULLEN/FROST BANKERS, INC.的2.0倍（$1.2B vs $580.9M），CULLEN/FROST BANKERS, INC.净利率更高（28.6% vs 8.9%，领先19.7%），Sunrun Inc.同比增速更快（123.5% vs 8.3%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 7.6%）
Frost Bank是总部位于美国圣安东尼奥的德克萨斯州特许银行，为银行控股公司卡伦/弗罗斯特银行家集团的核心子公司。其在得克萨斯州共设有200家营业网点、1750台自动柜员机，按总资产规模统计位列全美前60大银行之列。
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。
CFR vs RUN — 直观对比
营收规模更大
RUN
是对方的2.0倍
$580.9M
营收增速更快
RUN
高出115.2%
8.3%
净利率更高
CFR
高出19.7%
8.9%
两年增速更快
RUN
近两年复合增速
7.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $580.9M | $1.2B |
| 净利润 | $166.3M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 34.1% | 8.4% |
| 净利率 | 28.6% | 8.9% |
| 营收同比 | 8.3% | 123.5% |
| 净利润同比 | 7.4% | 103.7% |
| 每股收益（稀释后） | $2.56 | $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CFRRUN
| Q4 25 | $580.9M | $1.2B | ||
| Q3 25 | $567.3M | $724.6M | ||
| Q2 25 | $546.9M | $569.3M | ||
| Q1 25 | $540.2M | $504.3M | ||
| Q4 24 | $536.3M | $518.5M | ||
| Q3 24 | $518.0M | $537.2M | ||
| Q2 24 | $507.9M | $523.9M | ||
| Q1 24 | $501.4M | $458.2M |
净利润CFRRUN
| Q4 25 | $166.3M | $103.6M | ||
| Q3 25 | $174.4M | $16.6M | ||
| Q2 25 | $157.0M | $279.8M | ||
| Q1 25 | $150.9M | $50.0M | ||
| Q4 24 | $154.9M | $-2.8B | ||
| Q3 24 | $146.5M | $-83.8M | ||
| Q2 24 | $145.5M | $139.1M | ||
| Q1 24 | $135.7M | $-87.8M |
营业利润率CFRRUN
| Q4 25 | 34.1% | 8.4% | ||
| Q3 25 | 36.7% | 0.5% | ||
| Q2 25 | 34.1% | -19.7% | ||
| Q1 25 | 33.2% | -22.8% | ||
| Q4 24 | 34.3% | -628.0% | ||
| Q3 24 | 33.8% | -23.8% | ||
| Q2 24 | 34.5% | -24.4% | ||
| Q1 24 | 32.2% | -40.0% |
净利率CFRRUN
| Q4 25 | 28.6% | 8.9% | ||
| Q3 25 | 30.7% | 2.3% | ||
| Q2 25 | 28.7% | 49.1% | ||
| Q1 25 | 27.9% | 9.9% | ||
| Q4 24 | 28.9% | -542.7% | ||
| Q3 24 | 28.3% | -15.6% | ||
| Q2 24 | 28.6% | 26.5% | ||
| Q1 24 | 27.1% | -19.2% |
每股收益（稀释后）CFRRUN
| Q4 25 | $2.56 | $0.38 | ||
| Q3 25 | $2.67 | $0.06 | ||
| Q2 25 | $2.39 | $1.07 | ||
| Q1 25 | $2.30 | $0.20 | ||
| Q4 24 | $2.36 | $-12.59 | ||
| Q3 24 | $2.24 | $-0.37 | ||
| Q2 24 | $2.21 | $0.55 | ||
| Q1 24 | $2.06 | $-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 | — | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $4.6B | $3.1B |
| 总资产 | $53.0B | $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
总债务CFRRUN
| 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CFRRUN
| Q4 25 | $4.6B | $3.1B | ||
| Q3 25 | $4.5B | $3.0B | ||
| Q2 25 | $4.2B | $2.9B | ||
| Q1 25 | $4.1B | $2.6B | ||
| Q4 24 | $3.9B | $2.6B | ||
| Q3 24 | $4.1B | $5.3B | ||
| Q2 24 | $3.7B | $5.4B | ||
| Q1 24 | $3.6B | $5.2B |
总资产CFRRUN
| Q4 25 | $53.0B | $22.6B | ||
| Q3 25 | $52.5B | $22.2B | ||
| Q2 25 | $51.4B | $21.2B | ||
| Q1 25 | $52.0B | $20.4B | ||
| Q4 24 | $52.5B | $19.9B | ||
| Q3 24 | $51.0B | $22.1B | ||
| Q2 24 | $48.8B | $21.4B | ||
| Q1 24 | $49.5B | $20.8B |
负债/权益比CFRRUN
| 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 | $274.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $127.3M | — |
| 自由现金流率自由现金流/营收 | 21.9% | — |
| 资本支出强度资本支出/营收 | 25.2% | — |
| 现金转化率经营现金流/净利润 | 1.65× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $116.4M | — |
8季度趋势，按日历期对齐
经营现金流CFRRUN
| Q4 25 | $274.0M | $96.9M | ||
| Q3 25 | $248.6M | $-121.5M | ||
| Q2 25 | $140.8M | $-292.7M | ||
| Q1 25 | $-296.1M | $-104.2M | ||
| Q4 24 | $989.5M | $-258.4M | ||
| Q3 24 | $307.2M | $-156.2M | ||
| Q2 24 | $129.6M | $-208.5M | ||
| Q1 24 | $488.4M | $-143.1M |
自由现金流CFRRUN
| Q4 25 | $127.3M | — | ||
| Q3 25 | $211.7M | — | ||
| Q2 25 | $114.5M | — | ||
| Q1 25 | $-337.1M | — | ||
| Q4 24 | $861.8M | — | ||
| Q3 24 | $281.9M | $-156.4M | ||
| Q2 24 | $103.0M | — | ||
| Q1 24 | $450.3M | — |
自由现金流率CFRRUN
| Q4 25 | 21.9% | — | ||
| Q3 25 | 37.3% | — | ||
| Q2 25 | 20.9% | — | ||
| Q1 25 | -62.4% | — | ||
| Q4 24 | 160.7% | — | ||
| Q3 24 | 54.4% | -29.1% | ||
| Q2 24 | 20.3% | — | ||
| Q1 24 | 89.8% | — |
资本支出强度CFRRUN
| Q4 25 | 25.2% | — | ||
| Q3 25 | 6.5% | — | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | 7.6% | — | ||
| Q4 24 | 23.8% | — | ||
| Q3 24 | 4.9% | 0.0% | ||
| Q2 24 | 5.2% | — | ||
| Q1 24 | 7.6% | — |
现金转化率CFRRUN
| Q4 25 | 1.65× | 0.94× | ||
| Q3 25 | 1.43× | -7.33× | ||
| Q2 25 | 0.90× | -1.05× | ||
| Q1 25 | -1.96× | -2.08× | ||
| Q4 24 | 6.39× | — | ||
| Q3 24 | 2.10× | — | ||
| Q2 24 | 0.89× | -1.50× | ||
| Q1 24 | 3.60× | — |
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
CFR
暂无分部数据
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
