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AMERICOLD REALTY TRUST（COLD）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AMERICOLD REALTY TRUST的1.8倍（$1.2B vs $643.1M），Sunrun Inc.净利率更高（8.9% vs -13.7%，领先22.7%），Sunrun Inc.同比增速更快（123.5% vs -0.7%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -0.6%）
Americold Realty Trust是总部位于美国佐治亚州亚特兰大的温控仓储及运输企业，主营现代化商用温控仓储业务，通过冷链体系存储易腐货物，是食品保鲜供应链的重要参与方，为全球第二大温控仓储及配送服务提供商。
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。
COLD vs RUN — 直观对比
营收规模更大
RUN
是对方的1.8倍
$643.1M
营收增速更快
RUN
高出124.2%
-0.7%
净利率更高
RUN
高出22.7%
-13.7%
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 | $643.1M | $1.2B |
| 净利润 | $-88.3M | $103.6M |
| 毛利率 | 31.3% | — |
| 营业利润率 | -10.8% | 8.4% |
| 净利率 | -13.7% | 8.9% |
| 营收同比 | -0.7% | 123.5% |
| 净利润同比 | -143.9% | 103.7% |
| 每股收益（稀释后） | $-0.31 | $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COLDRUN
| Q4 25 | $643.1M | $1.2B | ||
| Q3 25 | $649.0M | $724.6M | ||
| Q2 25 | $635.1M | $569.3M | ||
| Q1 25 | $613.7M | $504.3M | ||
| Q4 24 | $647.4M | $518.5M | ||
| Q3 24 | $660.4M | $537.2M | ||
| Q2 24 | $645.6M | $523.9M | ||
| Q1 24 | $651.4M | $458.2M |
净利润COLDRUN
| Q4 25 | $-88.3M | $103.6M | ||
| Q3 25 | $-11.4M | $16.6M | ||
| Q2 25 | $1.5M | $279.8M | ||
| Q1 25 | $-16.4M | $50.0M | ||
| Q4 24 | $-36.2M | $-2.8B | ||
| Q3 24 | $-3.7M | $-83.8M | ||
| Q2 24 | $-64.1M | $139.1M | ||
| Q1 24 | $9.7M | $-87.8M |
毛利率COLDRUN
| Q4 25 | 31.3% | — | ||
| Q3 25 | 29.3% | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | 31.1% | — | ||
| Q4 24 | 29.7% | — | ||
| Q3 24 | 29.6% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 30.3% | — |
营业利润率COLDRUN
| Q4 25 | -10.8% | 8.4% | ||
| Q3 25 | 2.6% | 0.5% | ||
| Q2 25 | 5.9% | -19.7% | ||
| Q1 25 | 3.6% | -22.8% | ||
| Q4 24 | -1.8% | -628.0% | ||
| Q3 24 | 4.6% | -23.8% | ||
| Q2 24 | 9.8% | -24.4% | ||
| Q1 24 | 6.4% | -40.0% |
净利率COLDRUN
| Q4 25 | -13.7% | 8.9% | ||
| Q3 25 | -1.8% | 2.3% | ||
| Q2 25 | 0.2% | 49.1% | ||
| Q1 25 | -2.7% | 9.9% | ||
| Q4 24 | -5.6% | -542.7% | ||
| Q3 24 | -0.6% | -15.6% | ||
| Q2 24 | -9.9% | 26.5% | ||
| Q1 24 | 1.5% | -19.2% |
每股收益（稀释后）COLDRUN
| Q4 25 | $-0.31 | $0.38 | ||
| Q3 25 | $-0.04 | $0.06 | ||
| Q2 25 | $0.01 | $1.07 | ||
| Q1 25 | $-0.06 | $0.20 | ||
| Q4 24 | $-0.12 | $-12.59 | ||
| Q3 24 | $-0.01 | $-0.37 | ||
| Q2 24 | $-0.23 | $0.55 | ||
| Q1 24 | $0.03 | $-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 | $136.9M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $2.9B | $3.1B |
| 总资产 | $8.1B | $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COLDRUN
| Q4 25 | $136.9M | — | ||
| Q3 25 | $33.3M | — | ||
| Q2 25 | $101.4M | — | ||
| Q1 25 | $38.9M | — | ||
| Q4 24 | $47.7M | — | ||
| Q3 24 | $61.3M | — | ||
| Q2 24 | $44.2M | — | ||
| Q1 24 | $59.2M | — |
总债务COLDRUN
| 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COLDRUN
| Q4 25 | $2.9B | $3.1B | ||
| Q3 25 | $3.0B | $3.0B | ||
| Q2 25 | $3.1B | $2.9B | ||
| Q1 25 | $3.2B | $2.6B | ||
| Q4 24 | $3.3B | $2.6B | ||
| Q3 24 | $3.4B | $5.3B | ||
| Q2 24 | $3.4B | $5.4B | ||
| Q1 24 | $3.6B | $5.2B |
总资产COLDRUN
| Q4 25 | $8.1B | $22.6B | ||
| Q3 25 | $8.1B | $22.2B | ||
| Q2 25 | $8.1B | $21.2B | ||
| Q1 25 | $7.8B | $20.4B | ||
| Q4 24 | $7.7B | $19.9B | ||
| Q3 24 | $7.9B | $22.1B | ||
| Q2 24 | $7.8B | $21.4B | ||
| Q1 24 | $7.8B | $20.8B |
负债/权益比COLDRUN
| 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 | $130.2M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $-12.2M | — |
| 自由现金流率自由现金流/营收 | -1.9% | — |
| 资本支出强度资本支出/营收 | 22.1% | — |
| 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 | $-217.2M | — |
8季度趋势，按日历期对齐
经营现金流COLDRUN
| Q4 25 | $130.2M | $96.9M | ||
| Q3 25 | $78.9M | $-121.5M | ||
| Q2 25 | $120.3M | $-292.7M | ||
| Q1 25 | $30.2M | $-104.2M | ||
| Q4 24 | $162.6M | $-258.4M | ||
| Q3 24 | $50.6M | $-156.2M | ||
| Q2 24 | $136.7M | $-208.5M | ||
| Q1 24 | $62.0M | $-143.1M |
自由现金流COLDRUN
| Q4 25 | $-12.2M | — | ||
| Q3 25 | $-65.4M | — | ||
| Q2 25 | $-57.4M | — | ||
| Q1 25 | $-82.3M | — | ||
| Q4 24 | $57.4M | — | ||
| Q3 24 | $-44.5M | $-156.4M | ||
| Q2 24 | $73.3M | — | ||
| Q1 24 | $16.2M | — |
自由现金流率COLDRUN
| Q4 25 | -1.9% | — | ||
| Q3 25 | -10.1% | — | ||
| Q2 25 | -9.0% | — | ||
| Q1 25 | -13.4% | — | ||
| Q4 24 | 8.9% | — | ||
| Q3 24 | -6.7% | -29.1% | ||
| Q2 24 | 11.4% | — | ||
| Q1 24 | 2.5% | — |
资本支出强度COLDRUN
| Q4 25 | 22.1% | — | ||
| Q3 25 | 22.2% | — | ||
| Q2 25 | 28.0% | — | ||
| Q1 25 | 18.3% | — | ||
| Q4 24 | 16.3% | — | ||
| Q3 24 | 14.4% | 0.0% | ||
| Q2 24 | 9.8% | — | ||
| Q1 24 | 7.0% | — |
现金转化率COLDRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | 78.18× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | 6.36× | — |
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
COLD
| Warehouse Services | $269.0M | 42% |
| Warehouse Rent And Storage | $199.9M | 31% |
| Other Facilities Costs | $60.0M | 9% |
| Transportation Segment | $48.3M | 8% |
| Power | $34.7M | 5% |
| Transportation | $22.0M | 3% |
| Third Party Managed Segment | $9.5M | 1% |
| Third Party Managed | $2.4M | 0% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
