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COMSTOCK RESOURCES INC（CRK）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COMSTOCK RESOURCES INC的1.5倍（$1.2B vs $787.3M），COMSTOCK RESOURCES INC净利率更高（35.7% vs 8.9%，领先26.7%），Sunrun Inc.同比增速更快（123.5% vs 114.3%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 53.1%）
Comstock Resources Inc.是一家独立能源企业，主要从事天然气、原油及天然气凝液的勘探、开发、生产与销售业务，核心运营资产位于美国得州和路易斯安那州的页岩产区，服务北美能源市场。
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。
CRK vs RUN — 直观对比
营收规模更大
RUN
是对方的1.5倍
$787.3M
营收增速更快
RUN
高出9.2%
114.3%
净利率更高
CRK
高出26.7%
8.9%
两年增速更快
RUN
近两年复合增速
53.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $787.3M | $1.2B |
| 净利润 | $280.9M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 48.3% | 8.4% |
| 净利率 | 35.7% | 8.9% |
| 营收同比 | 114.3% | 123.5% |
| 净利润同比 | 583.3% | 103.7% |
| 每股收益（稀释后） | $0.99 | $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CRKRUN
| Q4 25 | $787.3M | $1.2B | ||
| Q3 25 | $449.9M | $724.6M | ||
| Q2 25 | $470.3M | $569.3M | ||
| Q1 25 | $512.9M | $504.3M | ||
| Q4 24 | $367.4M | $518.5M | ||
| Q3 24 | $304.5M | $537.2M | ||
| Q2 24 | $246.8M | $523.9M | ||
| Q1 24 | $335.8M | $458.2M |
净利润CRKRUN
| Q4 25 | $280.9M | $103.6M | ||
| Q3 25 | $111.1M | $16.6M | ||
| Q2 25 | $124.8M | $279.8M | ||
| Q1 25 | $-121.3M | $50.0M | ||
| Q4 24 | $-58.1M | $-2.8B | ||
| Q3 24 | $-28.9M | $-83.8M | ||
| Q2 24 | $-126.3M | $139.1M | ||
| Q1 24 | $-16.3M | $-87.8M |
营业利润率CRKRUN
| Q4 25 | 48.3% | 8.4% | ||
| Q3 25 | 11.2% | 0.5% | ||
| Q2 25 | 19.0% | -19.7% | ||
| Q1 25 | 24.6% | -22.8% | ||
| Q4 24 | -0.5% | -628.0% | ||
| Q3 24 | -20.1% | -23.8% | ||
| Q2 24 | -37.5% | -24.4% | ||
| Q1 24 | -3.8% | -40.0% |
净利率CRKRUN
| Q4 25 | 35.7% | 8.9% | ||
| Q3 25 | 24.7% | 2.3% | ||
| Q2 25 | 26.5% | 49.1% | ||
| Q1 25 | -23.6% | 9.9% | ||
| Q4 24 | -15.8% | -542.7% | ||
| Q3 24 | -9.5% | -15.6% | ||
| Q2 24 | -51.2% | 26.5% | ||
| Q1 24 | -4.9% | -19.2% |
每股收益（稀释后）CRKRUN
| Q4 25 | $0.99 | $0.38 | ||
| Q3 25 | $0.40 | $0.06 | ||
| Q2 25 | $0.44 | $1.07 | ||
| Q1 25 | $-0.40 | $0.20 | ||
| Q4 24 | $-0.19 | $-12.59 | ||
| Q3 24 | $-0.09 | $-0.37 | ||
| Q2 24 | $-0.43 | $0.55 | ||
| Q1 24 | $-0.05 | $-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 | $23.9M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $2.6B | $3.1B |
| 总资产 | $7.0B | $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
现金及短期投资CRKRUN
| Q4 25 | $23.9M | — | ||
| Q3 25 | $19.2M | — | ||
| Q2 25 | $25.9M | — | ||
| Q1 25 | $32.9M | — | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $13.8M | — | ||
| Q2 24 | $19.3M | — | ||
| Q1 24 | $6.4M | — |
总债务CRKRUN
| 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CRKRUN
| Q4 25 | $2.6B | $3.1B | ||
| Q3 25 | $2.4B | $3.0B | ||
| Q2 25 | $2.2B | $2.9B | ||
| Q1 25 | $2.1B | $2.6B | ||
| Q4 24 | $2.2B | $2.6B | ||
| Q3 24 | $2.3B | $5.3B | ||
| Q2 24 | $2.3B | $5.4B | ||
| Q1 24 | $2.4B | $5.2B |
总资产CRKRUN
| Q4 25 | $7.0B | $22.6B | ||
| Q3 25 | $6.8B | $22.2B | ||
| Q2 25 | $6.7B | $21.2B | ||
| Q1 25 | $6.6B | $20.4B | ||
| Q4 24 | $6.4B | $19.9B | ||
| Q3 24 | $6.3B | $22.1B | ||
| Q2 24 | $6.3B | $21.4B | ||
| Q1 24 | $6.3B | $20.8B |
负债/权益比CRKRUN
| 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 | $224.2M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $-141.2M | — |
| 自由现金流率自由现金流/营收 | -17.9% | — |
| 资本支出强度资本支出/营收 | 46.4% | — |
| 现金转化率经营现金流/净利润 | 0.80× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $-449.7M | — |
8季度趋势，按日历期对齐
经营现金流CRKRUN
| Q4 25 | $224.2M | $96.9M | ||
| Q3 25 | $153.1M | $-121.5M | ||
| Q2 25 | $347.6M | $-292.7M | ||
| Q1 25 | $174.7M | $-104.2M | ||
| Q4 24 | $267.1M | $-258.4M | ||
| Q3 24 | $98.2M | $-156.2M | ||
| Q2 24 | $83.6M | $-208.5M | ||
| Q1 24 | $171.5M | $-143.1M |
自由现金流CRKRUN
| Q4 25 | $-141.2M | — | ||
| Q3 25 | $-188.4M | — | ||
| Q2 25 | $3.2M | — | ||
| Q1 25 | $-123.2M | — | ||
| Q4 24 | $-12.9M | — | ||
| Q3 24 | $-131.1M | $-156.4M | ||
| Q2 24 | $-153.2M | — | ||
| Q1 24 | $-179.9M | — |
自由现金流率CRKRUN
| Q4 25 | -17.9% | — | ||
| Q3 25 | -41.9% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | -24.0% | — | ||
| Q4 24 | -3.5% | — | ||
| Q3 24 | -43.1% | -29.1% | ||
| Q2 24 | -62.1% | — | ||
| Q1 24 | -53.6% | — |
资本支出强度CRKRUN
| Q4 25 | 46.4% | — | ||
| Q3 25 | 75.9% | — | ||
| Q2 25 | 73.2% | — | ||
| Q1 25 | 58.1% | — | ||
| Q4 24 | 76.2% | — | ||
| Q3 24 | 75.3% | 0.0% | ||
| Q2 24 | 95.9% | — | ||
| Q1 24 | 104.7% | — |
现金转化率CRKRUN
| Q4 25 | 0.80× | 0.94× | ||
| Q3 25 | 1.38× | -7.33× | ||
| Q2 25 | 2.78× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | — | — |
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
CRK
| Other | $420.7M | 53% |
| Natural Gas And Oil Sales | $366.6M | 47% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
