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Centuri Holdings, Inc.（CTRI）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Centuri Holdings, Inc.的1.3倍（$1.2B vs $858.6M），Sunrun Inc.净利率更高（8.9% vs 3.5%，领先5.4%），Sunrun Inc.同比增速更快（123.5% vs 19.7%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 27.5%）
Centuri Holdings前身为Allied Leisure，是美国街机游戏制造商，总部位于佛罗里达州海厄利亚。20世纪80年代初，它是美国排名前六的投币式街机视频游戏设备供应商之一。1980年，原Taito美国总裁埃德·米勒与合伙人比尔·奥利吉斯收购Allied Leisure后，将其更名为Centuri。
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。
CTRI vs RUN — 直观对比
营收规模更大
RUN
是对方的1.3倍
$858.6M
营收增速更快
RUN
高出103.8%
19.7%
净利率更高
RUN
高出5.4%
3.5%
两年增速更快
RUN
近两年复合增速
27.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $858.6M | $1.2B |
| 净利润 | $30.4M | $103.6M |
| 毛利率 | 9.4% | — |
| 营业利润率 | 4.3% | 8.4% |
| 净利率 | 3.5% | 8.9% |
| 营收同比 | 19.7% | 123.5% |
| 净利润同比 | 194.1% | 103.7% |
| 每股收益（稀释后） | $0.34 | $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CTRIRUN
| Q4 25 | $858.6M | $1.2B | ||
| Q3 25 | $850.0M | $724.6M | ||
| Q2 25 | $724.1M | $569.3M | ||
| Q1 25 | $550.1M | $504.3M | ||
| Q4 24 | $717.1M | $518.5M | ||
| Q3 24 | $720.1M | $537.2M | ||
| Q2 24 | $672.1M | $523.9M | ||
| Q1 24 | $528.0M | $458.2M |
净利润CTRIRUN
| Q4 25 | $30.4M | $103.6M | ||
| Q3 25 | $2.1M | $16.6M | ||
| Q2 25 | $8.1M | $279.8M | ||
| Q1 25 | $-17.9M | $50.0M | ||
| Q4 24 | $10.3M | $-2.8B | ||
| Q3 24 | $-3.7M | $-83.8M | ||
| Q2 24 | $11.7M | $139.1M | ||
| Q1 24 | $-25.1M | $-87.8M |
毛利率CTRIRUN
| Q4 25 | 9.4% | — | ||
| Q3 25 | 9.2% | — | ||
| Q2 25 | 9.4% | — | ||
| Q1 25 | 3.7% | — | ||
| Q4 24 | 9.9% | — | ||
| Q3 24 | 10.5% | — | ||
| Q2 24 | 9.0% | — | ||
| Q1 24 | 2.5% | — |
营业利润率CTRIRUN
| Q4 25 | 4.3% | 8.4% | ||
| Q3 25 | 4.3% | 0.5% | ||
| Q2 25 | 4.4% | -19.7% | ||
| Q1 25 | -2.3% | -22.8% | ||
| Q4 24 | 4.7% | -628.0% | ||
| Q3 24 | 5.8% | -23.8% | ||
| Q2 24 | 4.9% | -24.4% | ||
| Q1 24 | -4.2% | -40.0% |
净利率CTRIRUN
| Q4 25 | 3.5% | 8.9% | ||
| Q3 25 | 0.2% | 2.3% | ||
| Q2 25 | 1.1% | 49.1% | ||
| Q1 25 | -3.3% | 9.9% | ||
| Q4 24 | 1.4% | -542.7% | ||
| Q3 24 | -0.5% | -15.6% | ||
| Q2 24 | 1.7% | 26.5% | ||
| Q1 24 | -4.7% | -19.2% |
每股收益（稀释后）CTRIRUN
| Q4 25 | $0.34 | $0.38 | ||
| Q3 25 | $0.02 | $0.06 | ||
| Q2 25 | $0.09 | $1.07 | ||
| Q1 25 | $-0.20 | $0.20 | ||
| Q4 24 | $0.17 | $-12.59 | ||
| Q3 24 | $-0.04 | $-0.37 | ||
| Q2 24 | $0.14 | $0.55 | ||
| Q1 24 | $-0.35 | $-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 | $126.6M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $873.0M | $3.1B |
| 总资产 | $2.4B | $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CTRIRUN
| Q4 25 | $126.6M | — | ||
| Q3 25 | $16.1M | — | ||
| Q2 25 | $28.3M | — | ||
| Q1 25 | $15.3M | — | ||
| Q4 24 | $49.0M | — | ||
| Q3 24 | $52.5M | — | ||
| Q2 24 | $30.9M | — | ||
| Q1 24 | $18.4M | — |
总债务CTRIRUN
| 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CTRIRUN
| Q4 25 | $873.0M | $3.1B | ||
| Q3 25 | $585.2M | $3.0B | ||
| Q2 25 | $567.1M | $2.9B | ||
| Q1 25 | $536.5M | $2.6B | ||
| Q4 24 | $555.6M | $2.6B | ||
| Q3 24 | $527.3M | $5.3B | ||
| Q2 24 | $530.4M | $5.4B | ||
| Q1 24 | $197.8M | $5.2B |
总资产CTRIRUN
| Q4 25 | $2.4B | $22.6B | ||
| Q3 25 | $2.2B | $22.2B | ||
| Q2 25 | $2.1B | $21.2B | ||
| Q1 25 | $2.0B | $20.4B | ||
| Q4 24 | $2.1B | $19.9B | ||
| Q3 24 | $2.1B | $22.1B | ||
| Q2 24 | $2.2B | $21.4B | ||
| Q1 24 | $2.1B | $20.8B |
负债/权益比CTRIRUN
| 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 | $83.9M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $66.3M | — |
| 自由现金流率自由现金流/营收 | 7.7% | — |
| 资本支出强度资本支出/营收 | 2.0% | — |
| 现金转化率经营现金流/净利润 | 2.76× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $-8.2M | — |
8季度趋势，按日历期对齐
经营现金流CTRIRUN
| Q4 25 | $83.9M | $96.9M | ||
| Q3 25 | $5.2M | $-121.5M | ||
| Q2 25 | $-27.7M | $-292.7M | ||
| Q1 25 | $16.7M | $-104.2M | ||
| Q4 24 | $61.0M | $-258.4M | ||
| Q3 24 | $180.2M | $-156.2M | ||
| Q2 24 | $-56.6M | $-208.5M | ||
| Q1 24 | $-26.5M | $-143.1M |
自由现金流CTRIRUN
| Q4 25 | $66.3M | — | ||
| Q3 25 | $-18.4M | — | ||
| Q2 25 | $-48.5M | — | ||
| Q1 25 | $-7.7M | — | ||
| Q4 24 | $27.8M | — | ||
| Q3 24 | $160.7M | $-156.4M | ||
| Q2 24 | $-76.9M | — | ||
| Q1 24 | $-52.7M | — |
自由现金流率CTRIRUN
| Q4 25 | 7.7% | — | ||
| Q3 25 | -2.2% | — | ||
| Q2 25 | -6.7% | — | ||
| Q1 25 | -1.4% | — | ||
| Q4 24 | 3.9% | — | ||
| Q3 24 | 22.3% | -29.1% | ||
| Q2 24 | -11.4% | — | ||
| Q1 24 | -10.0% | — |
资本支出强度CTRIRUN
| Q4 25 | 2.0% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 4.4% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 2.7% | 0.0% | ||
| Q2 24 | 3.0% | — | ||
| Q1 24 | 5.0% | — |
现金转化率CTRIRUN
| Q4 25 | 2.76× | 0.94× | ||
| Q3 25 | 2.48× | -7.33× | ||
| Q2 25 | -3.43× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | 5.90× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.84× | -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
CTRI
| Master Services Agreement | $660.7M | 77% |
| Non Union Electric Segment | $163.4M | 19% |
| Related Party | $25.6M | 3% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
