vs
Core Natural Resources, Inc.（CNR）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Core Natural Resources, Inc.的1.1倍（$1.2B vs $1.0B），Sunrun Inc.净利率更高（8.9% vs -7.6%，领先16.5%），Sunrun Inc.同比增速更快（123.5% vs 81.8%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 38.1%）
Arch Resources（原阿奇煤炭）曾是美国煤炭开采加工企业，为美国第二大煤炭供应商，仅次于皮博迪能源，2011年占据美国国内15%的市场份额，主营低硫烟煤、次烟煤的开采、加工与销售，客户以发电企业为主。
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。
CNR vs RUN — 直观对比
营收规模更大
RUN
是对方的1.1倍
$1.0B
营收增速更快
RUN
高出41.7%
81.8%
净利率更高
RUN
高出16.5%
-7.6%
两年增速更快
RUN
近两年复合增速
38.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $-79.0M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | -9.3% | 8.4% |
| 净利率 | -7.6% | 8.9% |
| 营收同比 | 81.8% | 123.5% |
| 净利润同比 | -356.3% | 103.7% |
| 每股收益（稀释后） | $-1.51 | $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CNRRUN
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $1.0B | $724.6M | ||
| Q2 25 | $1.1B | $569.3M | ||
| Q1 25 | $1.0B | $504.3M | ||
| Q4 24 | $573.6M | $518.5M | ||
| Q3 24 | $553.4M | $537.2M | ||
| Q2 24 | $490.7M | $523.9M | ||
| Q1 24 | $546.7M | $458.2M |
净利润CNRRUN
| Q4 25 | $-79.0M | $103.6M | ||
| Q3 25 | $31.6M | $16.6M | ||
| Q2 25 | $-36.6M | $279.8M | ||
| Q1 25 | $-69.3M | $50.0M | ||
| Q4 24 | $30.8M | $-2.8B | ||
| Q3 24 | $95.6M | $-83.8M | ||
| Q2 24 | $58.1M | $139.1M | ||
| Q1 24 | $101.9M | $-87.8M |
营业利润率CNRRUN
| Q4 25 | -9.3% | 8.4% | ||
| Q3 25 | -1.2% | 0.5% | ||
| Q2 25 | -1.7% | -19.7% | ||
| Q1 25 | -5.3% | -22.8% | ||
| Q4 24 | 6.6% | -628.0% | ||
| Q3 24 | 21.2% | -23.8% | ||
| Q2 24 | 14.6% | -24.4% | ||
| Q1 24 | 22.7% | -40.0% |
净利率CNRRUN
| Q4 25 | -7.6% | 8.9% | ||
| Q3 25 | 3.2% | 2.3% | ||
| Q2 25 | -3.3% | 49.1% | ||
| Q1 25 | -6.8% | 9.9% | ||
| Q4 24 | 5.4% | -542.7% | ||
| Q3 24 | 17.3% | -15.6% | ||
| Q2 24 | 11.8% | 26.5% | ||
| Q1 24 | 18.6% | -19.2% |
每股收益（稀释后）CNRRUN
| Q4 25 | $-1.51 | $0.38 | ||
| Q3 25 | $0.61 | $0.06 | ||
| Q2 25 | $-0.70 | $1.07 | ||
| Q1 25 | $-1.38 | $0.20 | ||
| Q4 24 | $1.04 | $-12.59 | ||
| Q3 24 | $3.22 | $-0.37 | ||
| Q2 24 | $1.96 | $0.55 | ||
| Q1 24 | $3.39 | $-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 | $432.2M | — |
| 总债务越低越好 | $354.2M | $14.7B |
| 股东权益账面价值 | $3.7B | $3.1B |
| 总资产 | $6.1B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.10× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资CNRRUN
| Q4 25 | $432.2M | — | ||
| Q3 25 | $444.7M | — | ||
| Q2 25 | $413.2M | — | ||
| Q1 25 | $388.5M | — | ||
| Q4 24 | $460.2M | — | ||
| Q3 24 | $331.7M | — | ||
| Q2 24 | $216.1M | — | ||
| Q1 24 | $172.6M | — |
总债务CNRRUN
| Q4 25 | $354.2M | $14.7B | ||
| Q3 25 | $334.5M | $14.6B | ||
| Q2 25 | $334.0M | $14.0B | ||
| Q1 25 | $329.8M | $13.6B | ||
| Q4 24 | $94.8M | $12.9B | ||
| Q3 24 | $83.7M | $12.5B | ||
| Q2 24 | $184.9M | $12.0B | ||
| Q1 24 | $185.5M | $11.1B |
股东权益CNRRUN
| Q4 25 | $3.7B | $3.1B | ||
| Q3 25 | $3.8B | $3.0B | ||
| Q2 25 | $3.8B | $2.9B | ||
| Q1 25 | $3.9B | $2.6B | ||
| Q4 24 | $1.6B | $2.6B | ||
| Q3 24 | $1.5B | $5.3B | ||
| Q2 24 | $1.4B | $5.4B | ||
| Q1 24 | $1.4B | $5.2B |
总资产CNRRUN
| Q4 25 | $6.1B | $22.6B | ||
| Q3 25 | $6.2B | $22.2B | ||
| Q2 25 | $6.2B | $21.2B | ||
| Q1 25 | $6.3B | $20.4B | ||
| Q4 24 | $2.9B | $19.9B | ||
| Q3 24 | $2.8B | $22.1B | ||
| Q2 24 | $2.7B | $21.4B | ||
| Q1 24 | $2.7B | $20.8B |
负债/权益比CNRRUN
| Q4 25 | 0.10× | 4.69× | ||
| Q3 25 | 0.09× | 4.90× | ||
| Q2 25 | 0.09× | 4.80× | ||
| Q1 25 | 0.08× | 5.19× | ||
| Q4 24 | 0.06× | 5.05× | ||
| Q3 24 | 0.05× | 2.36× | ||
| Q2 24 | 0.13× | 2.23× | ||
| Q1 24 | 0.13× | 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 | $107.3M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $26.0M | — |
| 自由现金流率自由现金流/营收 | 2.5% | — |
| 资本支出强度资本支出/营收 | 7.8% | — |
| 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 | $21.2M | — |
8季度趋势，按日历期对齐
经营现金流CNRRUN
| Q4 25 | $107.3M | $96.9M | ||
| Q3 25 | $87.9M | $-121.5M | ||
| Q2 25 | $220.2M | $-292.7M | ||
| Q1 25 | $-109.6M | $-104.2M | ||
| Q4 24 | $121.3M | $-258.4M | ||
| Q3 24 | $161.3M | $-156.2M | ||
| Q2 24 | $116.3M | $-208.5M | ||
| Q1 24 | $77.5M | $-143.1M |
自由现金流CNRRUN
| Q4 25 | $26.0M | — | ||
| Q3 25 | $38.6M | — | ||
| Q2 25 | $131.0M | — | ||
| Q1 25 | $-174.5M | — | ||
| Q4 24 | $80.5M | — | ||
| Q3 24 | $121.9M | $-156.4M | ||
| Q2 24 | $60.9M | — | ||
| Q1 24 | $35.1M | — |
自由现金流率CNRRUN
| Q4 25 | 2.5% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 11.9% | — | ||
| Q1 25 | -17.1% | — | ||
| Q4 24 | 14.0% | — | ||
| Q3 24 | 22.0% | -29.1% | ||
| Q2 24 | 12.4% | — | ||
| Q1 24 | 6.4% | — |
资本支出强度CNRRUN
| Q4 25 | 7.8% | — | ||
| Q3 25 | 4.9% | — | ||
| Q2 25 | 8.1% | — | ||
| Q1 25 | 6.4% | — | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | 7.1% | 0.0% | ||
| Q2 24 | 11.3% | — | ||
| Q1 24 | 7.7% | — |
现金转化率CNRRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | 2.78× | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | 3.94× | — | ||
| Q3 24 | 1.69× | — | ||
| Q2 24 | 2.00× | -1.50× | ||
| Q1 24 | 0.76× | — |
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
CNR
| Other | $397.4M | 38% |
| Power Generation | $376.5M | 36% |
| PRB | $183.0M | 18% |
| Metallurgical | $42.0M | 4% |
| Industrial | $34.1M | 3% |
| Terminal Revenue | $6.4M | 1% |
| Other Revenue | $3.0M | 0% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
