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DARLING INGREDIENTS INC.（DAR）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
DARLING INGREDIENTS INC.的季度营收约是Sunrun Inc.的1.3倍（$1.6B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs 1.2%，领先7.7%），Sunrun Inc.同比增速更快（123.5% vs 10.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -1.6%）
Darling Ingredients Inc.是全球领先的可持续天然原料生产商，将可食用及不可食用有机副产品加工为食品级营养成分、动物饲料添加剂、制药原料、生物燃料组分等高价值产品，服务全球食品、农业、制药、可再生能源领域客户。
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。
DAR vs RUN — 直观对比
营收规模更大
DAR
是对方的1.3倍
$1.2B
营收增速更快
RUN
高出113.5%
10.0%
净利率更高
RUN
高出7.7%
1.2%
两年增速更快
RUN
近两年复合增速
-1.6%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $19.4M | $103.6M |
| 毛利率 | 24.7% | — |
| 营业利润率 | 4.6% | 8.4% |
| 净利率 | 1.2% | 8.9% |
| 营收同比 | 10.0% | 123.5% |
| 净利润同比 | 14.2% | 103.7% |
| 每股收益（稀释后） | $0.12 | $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DARRUN
| Q4 25 | — | $1.2B | ||
| Q3 25 | $1.6B | $724.6M | ||
| Q2 25 | $1.5B | $569.3M | ||
| Q1 25 | $1.4B | $504.3M | ||
| Q4 24 | $1.4B | $518.5M | ||
| Q3 24 | $1.4B | $537.2M | ||
| Q2 24 | $1.5B | $523.9M | ||
| Q1 24 | $1.4B | $458.2M |
净利润DARRUN
| Q4 25 | — | $103.6M | ||
| Q3 25 | $19.4M | $16.6M | ||
| Q2 25 | $12.7M | $279.8M | ||
| Q1 25 | $-26.2M | $50.0M | ||
| Q4 24 | $101.9M | $-2.8B | ||
| Q3 24 | $16.9M | $-83.8M | ||
| Q2 24 | $78.9M | $139.1M | ||
| Q1 24 | $81.2M | $-87.8M |
毛利率DARRUN
| Q4 25 | — | — | ||
| Q3 25 | 24.7% | — | ||
| Q2 25 | 23.3% | — | ||
| Q1 25 | 22.6% | — | ||
| Q4 24 | 23.5% | — | ||
| Q3 24 | 22.1% | — | ||
| Q2 24 | 22.5% | — | ||
| Q1 24 | 21.4% | — |
营业利润率DARRUN
| Q4 25 | — | 8.4% | ||
| Q3 25 | 4.6% | 0.5% | ||
| Q2 25 | 5.1% | -19.7% | ||
| Q1 25 | 2.1% | -22.8% | ||
| Q4 24 | 8.6% | -628.0% | ||
| Q3 24 | 4.2% | -23.8% | ||
| Q2 24 | 10.2% | -24.4% | ||
| Q1 24 | 9.7% | -40.0% |
净利率DARRUN
| Q4 25 | — | 8.9% | ||
| Q3 25 | 1.2% | 2.3% | ||
| Q2 25 | 0.9% | 49.1% | ||
| Q1 25 | -1.9% | 9.9% | ||
| Q4 24 | 7.2% | -542.7% | ||
| Q3 24 | 1.2% | -15.6% | ||
| Q2 24 | 5.4% | 26.5% | ||
| Q1 24 | 5.7% | -19.2% |
每股收益（稀释后）DARRUN
| Q4 25 | — | $0.38 | ||
| Q3 25 | $0.12 | $0.06 | ||
| Q2 25 | $0.08 | $1.07 | ||
| Q1 25 | $-0.16 | $0.20 | ||
| Q4 24 | $0.63 | $-12.59 | ||
| Q3 24 | $0.11 | $-0.37 | ||
| Q2 24 | $0.49 | $0.55 | ||
| Q1 24 | $0.50 | $-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 | $91.5M | — |
| 总债务越低越好 | $4.0B | $14.7B |
| 股东权益账面价值 | $4.7B | $3.1B |
| 总资产 | $10.5B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.86× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资DARRUN
| Q4 25 | — | — | ||
| Q3 25 | $91.5M | — | ||
| Q2 25 | $94.6M | — | ||
| Q1 25 | $81.5M | — | ||
| Q4 24 | $76.0M | — | ||
| Q3 24 | $114.8M | — | ||
| Q2 24 | $121.6M | — | ||
| Q1 24 | $145.5M | — |
总债务DARRUN
| Q4 25 | — | $14.7B | ||
| Q3 25 | $4.0B | $14.6B | ||
| Q2 25 | $3.9B | $14.0B | ||
| Q1 25 | $3.8B | $13.6B | ||
| Q4 24 | $3.9B | $12.9B | ||
| Q3 24 | $4.1B | $12.5B | ||
| Q2 24 | $4.3B | $12.0B | ||
| Q1 24 | $4.4B | $11.1B |
股东权益DARRUN
| Q4 25 | — | $3.1B | ||
| Q3 25 | $4.7B | $3.0B | ||
| Q2 25 | $4.6B | $2.9B | ||
| Q1 25 | $4.4B | $2.6B | ||
| Q4 24 | $4.4B | $2.6B | ||
| Q3 24 | $4.6B | $5.3B | ||
| Q2 24 | $4.5B | $5.4B | ||
| Q1 24 | $4.6B | $5.2B |
总资产DARRUN
| Q4 25 | — | $22.6B | ||
| Q3 25 | $10.5B | $22.2B | ||
| Q2 25 | $10.3B | $21.2B | ||
| Q1 25 | $10.0B | $20.4B | ||
| Q4 24 | $10.1B | $19.9B | ||
| Q3 24 | $10.6B | $22.1B | ||
| Q2 24 | $10.6B | $21.4B | ||
| Q1 24 | $10.9B | $20.8B |
负债/权益比DARRUN
| Q4 25 | — | 4.69× | ||
| Q3 25 | 0.86× | 4.90× | ||
| Q2 25 | 0.85× | 4.80× | ||
| Q1 25 | 0.86× | 5.19× | ||
| Q4 24 | 0.89× | 5.05× | ||
| Q3 24 | 0.91× | 2.36× | ||
| Q2 24 | 0.97× | 2.23× | ||
| Q1 24 | 0.95× | 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 | $224.3M | $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 | 11.59× | 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DARRUN
| Q4 25 | — | $96.9M | ||
| Q3 25 | $224.3M | $-121.5M | ||
| Q2 25 | $145.8M | $-292.7M | ||
| Q1 25 | $249.0M | $-104.2M | ||
| Q4 24 | $154.4M | $-258.4M | ||
| Q3 24 | $274.5M | $-156.2M | ||
| Q2 24 | $146.5M | $-208.5M | ||
| Q1 24 | $263.9M | $-143.1M |
自由现金流DARRUN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-156.4M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率DARRUN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -29.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度DARRUN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率DARRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | 11.59× | -7.33× | ||
| Q2 25 | 11.52× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 16.19× | — | ||
| Q2 24 | 1.86× | -1.50× | ||
| Q1 24 | 3.25× | — |
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
DAR
| Fats | $428.4M | 27% |
| Food Ingredients | $380.6M | 24% |
| Diamond Green Diesel Holdings Llc Joint Venture | $342.1M | 22% |
| Fuel Ingredients | $154.3M | 10% |
| Used Cooking Oil | $125.9M | 8% |
| Other Rendering | $76.9M | 5% |
| Bakery | $46.9M | 3% |
| Other Products And Services | $12.2M | 1% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
