vs
Churchill Downs Inc（CHDN）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Churchill Downs Inc的1.7倍（$1.2B vs $663.0M），Churchill Downs Inc净利率更高（12.5% vs 8.9%，领先3.6%），Sunrun Inc.同比增速更快（123.5% vs 3.1%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -13.7%）
丘吉尔唐斯股份有限公司是丘吉尔唐斯赛马场的母公司，起家于美国肯塔基州路易斯维尔的单一赛马场，现已发展为业务覆盖美国多州的上市企业，旗下拥有赛马场、赌场、线上投注平台等多元业务板块。
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。
CHDN vs RUN — 直观对比
营收规模更大
RUN
是对方的1.7倍
$663.0M
营收增速更快
RUN
高出120.4%
3.1%
净利率更高
CHDN
高出3.6%
8.9%
两年增速更快
RUN
近两年复合增速
-13.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $663.0M | $1.2B |
| 净利润 | $83.0M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 21.6% | 8.4% |
| 净利率 | 12.5% | 8.9% |
| 营收同比 | 3.1% | 123.5% |
| 净利润同比 | 7.8% | 103.7% |
| 每股收益（稀释后） | $1.16 | $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CHDNRUN
| Q1 26 | $663.0M | — | ||
| Q4 25 | $665.9M | $1.2B | ||
| Q3 25 | $683.0M | $724.6M | ||
| Q2 25 | $934.4M | $569.3M | ||
| Q1 25 | $642.6M | $504.3M | ||
| Q4 24 | $624.2M | $518.5M | ||
| Q3 24 | $628.5M | $537.2M | ||
| Q2 24 | $890.7M | $523.9M |
净利润CHDNRUN
| Q1 26 | $83.0M | — | ||
| Q4 25 | $51.3M | $103.6M | ||
| Q3 25 | $38.1M | $16.6M | ||
| Q2 25 | $216.9M | $279.8M | ||
| Q1 25 | $76.7M | $50.0M | ||
| Q4 24 | $71.7M | $-2.8B | ||
| Q3 24 | $65.4M | $-83.8M | ||
| Q2 24 | $209.3M | $139.1M |
营业利润率CHDNRUN
| Q1 26 | 21.6% | — | ||
| Q4 25 | 18.5% | 8.4% | ||
| Q3 25 | 14.3% | 0.5% | ||
| Q2 25 | 35.1% | -19.7% | ||
| Q1 25 | 20.9% | -22.8% | ||
| Q4 24 | 20.3% | -628.0% | ||
| Q3 24 | 20.0% | -23.8% | ||
| Q2 24 | 37.0% | -24.4% |
净利率CHDNRUN
| Q1 26 | 12.5% | — | ||
| Q4 25 | 7.7% | 8.9% | ||
| Q3 25 | 5.6% | 2.3% | ||
| Q2 25 | 23.2% | 49.1% | ||
| Q1 25 | 11.9% | 9.9% | ||
| Q4 24 | 11.5% | -542.7% | ||
| Q3 24 | 10.4% | -15.6% | ||
| Q2 24 | 23.5% | 26.5% |
每股收益（稀释后）CHDNRUN
| Q1 26 | $1.16 | — | ||
| Q4 25 | — | $0.38 | ||
| Q3 25 | — | $0.06 | ||
| Q2 25 | — | $1.07 | ||
| Q1 25 | — | $0.20 | ||
| Q4 24 | — | $-12.59 | ||
| Q3 24 | — | $-0.37 | ||
| Q2 24 | — | $0.55 |
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 | $200.0M | — |
| 总债务越低越好 | $840.0M | $14.7B |
| 股东权益账面价值 | — | $3.1B |
| 总资产 | $7.5B | $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CHDNRUN
| Q1 26 | $200.0M | — | ||
| Q4 25 | $200.6M | — | ||
| Q3 25 | $180.5M | — | ||
| Q2 25 | $182.4M | — | ||
| Q1 25 | $174.2M | — | ||
| Q4 24 | $175.5M | — | ||
| Q3 24 | $152.7M | — | ||
| Q2 24 | $140.3M | — |
总债务CHDNRUN
| Q1 26 | $840.0M | — | ||
| 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 |
股东权益CHDNRUN
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $3.1B | ||
| Q3 25 | $1.0B | $3.0B | ||
| Q2 25 | $1.0B | $2.9B | ||
| Q1 25 | $1.1B | $2.6B | ||
| Q4 24 | $1.1B | $2.6B | ||
| Q3 24 | $1.1B | $5.3B | ||
| Q2 24 | $1.0B | $5.4B |
总资产CHDNRUN
| Q1 26 | $7.5B | — | ||
| Q4 25 | $7.5B | $22.6B | ||
| Q3 25 | $7.5B | $22.2B | ||
| Q2 25 | $7.4B | $21.2B | ||
| Q1 25 | $7.3B | $20.4B | ||
| Q4 24 | $7.3B | $19.9B | ||
| Q3 24 | $7.2B | $22.1B | ||
| Q2 24 | $7.2B | $21.4B |
负债/权益比CHDNRUN
| Q1 26 | — | — | ||
| 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× |
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 | $295.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 3.55× | 0.94× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流CHDNRUN
| Q1 26 | $295.0M | — | ||
| Q4 25 | — | $96.9M | ||
| Q3 25 | $187.7M | $-121.5M | ||
| Q2 25 | — | $-292.7M | ||
| Q1 25 | $246.5M | $-104.2M | ||
| Q4 24 | — | $-258.4M | ||
| Q3 24 | $169.4M | $-156.2M | ||
| Q2 24 | — | $-208.5M |
自由现金流CHDNRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $166.3M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $233.9M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $154.4M | $-156.4M | ||
| Q2 24 | — | — |
自由现金流率CHDNRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 36.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 24.6% | -29.1% | ||
| Q2 24 | — | — |
资本支出强度CHDNRUN
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 2.0% | — | ||
| Q4 24 | 5.4% | — | ||
| Q3 24 | 2.4% | 0.0% | ||
| Q2 24 | 2.5% | — |
现金转化率CHDNRUN
| Q1 26 | 3.55× | — | ||
| Q4 25 | — | 0.94× | ||
| Q3 25 | 4.93× | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | 3.21× | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.59× | — | ||
| Q2 24 | — | -1.50× |
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
CHDN
| Live and Historical Racing | $297.0M | 45% |
| Gaming | $257.0M | 39% |
| Wagering Services and Solutions | $109.0M | 16% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
