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CNO Financial Group, Inc.（CNO）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CNO Financial Group, Inc.的1.0倍（$1.2B vs $1.1B），Sunrun Inc.净利率更高（8.9% vs 8.8%，领先0.1%），Sunrun Inc.同比增速更快（123.5% vs 4.2%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -0.6%）
CNO金融集团是总部位于美国印第安纳州卡梅尔的金融服务控股公司，前身为康塞科公司。集团旗下保险子公司为美国超400万客户提供人寿保险、年金和补充健康保险产品，通过独立代理人、专属代理人，以及电视广告、直邮等直销触达用户。
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。
CNO vs RUN — 直观对比
营收规模更大
RUN
是对方的1.0倍
$1.1B
营收增速更快
RUN
高出119.3%
4.2%
净利率更高
RUN
高出0.1%
8.8%
两年增速更快
RUN
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $100.7M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 15.2% | 8.4% |
| 净利率 | 8.8% | 8.9% |
| 营收同比 | 4.2% | 123.5% |
| 净利润同比 | -39.4% | 103.7% |
| 每股收益（稀释后） | $1.02 | $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CNORUN
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.2B | $724.6M | ||
| Q2 25 | $1.2B | $569.3M | ||
| Q1 25 | $1.0B | $504.3M | ||
| Q4 24 | $1.1B | $518.5M | ||
| Q3 24 | $1.1B | $537.2M | ||
| Q2 24 | $1.1B | $523.9M | ||
| Q1 24 | $1.2B | $458.2M |
净利润CNORUN
| Q4 25 | $100.7M | $103.6M | ||
| Q3 25 | $23.1M | $16.6M | ||
| Q2 25 | $91.8M | $279.8M | ||
| Q1 25 | $13.7M | $50.0M | ||
| Q4 24 | $166.1M | $-2.8B | ||
| Q3 24 | $9.3M | $-83.8M | ||
| Q2 24 | $116.3M | $139.1M | ||
| Q1 24 | $112.3M | $-87.8M |
营业利润率CNORUN
| Q4 25 | 15.2% | 8.4% | ||
| Q3 25 | 13.7% | 0.5% | ||
| Q2 25 | 9.8% | -19.7% | ||
| Q1 25 | 10.4% | -22.8% | ||
| Q4 24 | 15.8% | -628.0% | ||
| Q3 24 | 13.6% | -23.8% | ||
| Q2 24 | 13.9% | -24.4% | ||
| Q1 24 | 6.5% | -40.0% |
净利率CNORUN
| Q4 25 | 8.8% | 8.9% | ||
| Q3 25 | 1.9% | 2.3% | ||
| Q2 25 | 8.0% | 49.1% | ||
| Q1 25 | 1.4% | 9.9% | ||
| Q4 24 | 15.1% | -542.7% | ||
| Q3 24 | 0.8% | -15.6% | ||
| Q2 24 | 10.9% | 26.5% | ||
| Q1 24 | 9.7% | -19.2% |
每股收益（稀释后）CNORUN
| Q4 25 | $1.02 | $0.38 | ||
| Q3 25 | $0.24 | $0.06 | ||
| Q2 25 | $0.91 | $1.07 | ||
| Q1 25 | $0.13 | $0.20 | ||
| Q4 24 | $1.58 | $-12.59 | ||
| Q3 24 | $0.09 | $-0.37 | ||
| Q2 24 | $1.06 | $0.55 | ||
| Q1 24 | $1.01 | $-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 | $2.6B | $3.1B |
| 总资产 | $38.8B | $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CNORUN
| 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CNORUN
| Q4 25 | $2.6B | $3.1B | ||
| Q3 25 | $2.6B | $3.0B | ||
| Q2 25 | $2.5B | $2.9B | ||
| Q1 25 | $2.5B | $2.6B | ||
| Q4 24 | $2.5B | $2.6B | ||
| Q3 24 | $2.7B | $5.3B | ||
| Q2 24 | $2.4B | $5.4B | ||
| Q1 24 | $2.4B | $5.2B |
总资产CNORUN
| Q4 25 | $38.8B | $22.6B | ||
| Q3 25 | $38.3B | $22.2B | ||
| Q2 25 | $37.3B | $21.2B | ||
| Q1 25 | $37.4B | $20.4B | ||
| Q4 24 | $37.9B | $19.9B | ||
| Q3 24 | $37.6B | $22.1B | ||
| Q2 24 | $36.3B | $21.4B | ||
| Q1 24 | $34.9B | $20.8B |
负债/权益比CNORUN
| 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 | $195.7M | $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 | 1.94× | 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CNORUN
| Q4 25 | $195.7M | $96.9M | ||
| Q3 25 | $197.8M | $-121.5M | ||
| Q2 25 | $145.5M | $-292.7M | ||
| Q1 25 | $136.7M | $-104.2M | ||
| Q4 24 | $191.0M | $-258.4M | ||
| Q3 24 | $231.2M | $-156.2M | ||
| Q2 24 | $110.9M | $-208.5M | ||
| Q1 24 | $94.6M | $-143.1M |
自由现金流CNORUN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-156.4M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率CNORUN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -29.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度CNORUN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率CNORUN
| Q4 25 | 1.94× | 0.94× | ||
| Q3 25 | 8.56× | -7.33× | ||
| Q2 25 | 1.58× | -1.05× | ||
| Q1 25 | 9.98× | -2.08× | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 24.86× | — | ||
| Q2 24 | 0.95× | -1.50× | ||
| Q1 24 | 0.84× | — |
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
CNO
| Health Insurance Product Line | $496.4M | 43% |
| Life Insurance Segment | $268.8M | 24% |
| Other | $207.2M | 18% |
| Life And Annuity Insurance Product Line | $170.7M | 15% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
