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Designer Brands Inc.（DBI）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Designer Brands Inc.的1.5倍（$1.2B vs $752.4M），Sunrun Inc.净利率更高（8.9% vs 2.4%，领先6.5%），Sunrun Inc.同比增速更快（123.5% vs -3.2%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -0.1%）
Designer Brands Inc.是一家美国鞋履及时尚配饰零售商，主打销售设计师品牌与知名品牌商品，旗下拥有知名连锁零售品牌DSW（设计师鞋履仓库），目前在美国经营超过500家线下门店，同时运营线上电商平台。
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。
DBI vs RUN — 直观对比
营收规模更大
RUN
是对方的1.5倍
$752.4M
营收增速更快
RUN
高出126.7%
-3.2%
净利率更高
RUN
高出6.5%
2.4%
两年增速更快
RUN
近两年复合增速
-0.1%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $752.4M | $1.2B |
| 净利润 | $18.2M | $103.6M |
| 毛利率 | 45.1% | — |
| 营业利润率 | 5.7% | 8.4% |
| 净利率 | 2.4% | 8.9% |
| 营收同比 | -3.2% | 123.5% |
| 净利润同比 | 40.0% | 103.7% |
| 每股收益（稀释后） | $0.35 | $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DBIRUN
| Q4 25 | $752.4M | $1.2B | ||
| Q3 25 | $739.8M | $724.6M | ||
| Q2 25 | $686.9M | $569.3M | ||
| Q1 25 | $713.6M | $504.3M | ||
| Q4 24 | $777.2M | $518.5M | ||
| Q3 24 | $771.9M | $537.2M | ||
| Q2 24 | $746.6M | $523.9M | ||
| Q1 24 | $754.3M | $458.2M |
净利润DBIRUN
| Q4 25 | $18.2M | $103.6M | ||
| Q3 25 | $10.8M | $16.6M | ||
| Q2 25 | $-17.4M | $279.8M | ||
| Q1 25 | $-38.2M | $50.0M | ||
| Q4 24 | $13.0M | $-2.8B | ||
| Q3 24 | $13.8M | $-83.8M | ||
| Q2 24 | $783.0K | $139.1M | ||
| Q1 24 | $-29.6M | $-87.8M |
毛利率DBIRUN
| Q4 25 | 45.1% | — | ||
| Q3 25 | 43.7% | — | ||
| Q2 25 | 43.0% | — | ||
| Q1 25 | 75.7% | — | ||
| Q4 24 | 43.0% | — | ||
| Q3 24 | 44.0% | — | ||
| Q2 24 | 44.2% | — | ||
| Q1 24 | 38.8% | — |
营业利润率DBIRUN
| Q4 25 | 5.7% | 8.4% | ||
| Q3 25 | 3.6% | 0.5% | ||
| Q2 25 | -1.1% | -19.7% | ||
| Q1 25 | -3.6% | -22.8% | ||
| Q4 24 | 2.9% | -628.0% | ||
| Q3 24 | 3.7% | -23.8% | ||
| Q2 24 | 1.3% | -24.4% | ||
| Q1 24 | -4.8% | -40.0% |
净利率DBIRUN
| Q4 25 | 2.4% | 8.9% | ||
| Q3 25 | 1.5% | 2.3% | ||
| Q2 25 | -2.5% | 49.1% | ||
| Q1 25 | -5.3% | 9.9% | ||
| Q4 24 | 1.7% | -542.7% | ||
| Q3 24 | 1.8% | -15.6% | ||
| Q2 24 | 0.1% | 26.5% | ||
| Q1 24 | -3.9% | -19.2% |
每股收益（稀释后）DBIRUN
| Q4 25 | $0.35 | $0.38 | ||
| Q3 25 | $0.22 | $0.06 | ||
| Q2 25 | $-0.36 | $1.07 | ||
| Q1 25 | $-0.69 | $0.20 | ||
| Q4 24 | $0.24 | $-12.59 | ||
| Q3 24 | $0.24 | $-0.37 | ||
| Q2 24 | $0.01 | $0.55 | ||
| Q1 24 | $-899.54 | $-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 | $51.4M | — |
| 总债务越低越好 | $463.1M | $14.7B |
| 股东权益账面价值 | $298.6M | $3.1B |
| 总资产 | $2.1B | $22.6B |
| 负债/权益比越低杠杆越低 | 1.55× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资DBIRUN
| Q4 25 | $51.4M | — | ||
| Q3 25 | $44.9M | — | ||
| Q2 25 | $46.0M | — | ||
| Q1 25 | $44.8M | — | ||
| Q4 24 | $36.2M | — | ||
| Q3 24 | $38.8M | — | ||
| Q2 24 | $43.4M | — | ||
| Q1 24 | $49.2M | — |
总债务DBIRUN
| Q4 25 | $463.1M | $14.7B | ||
| Q3 25 | $509.6M | $14.6B | ||
| Q2 25 | $516.2M | $14.0B | ||
| Q1 25 | $484.3M | $13.6B | ||
| Q4 24 | $529.6M | $12.9B | ||
| Q3 24 | $459.0M | $12.5B | ||
| Q2 24 | $469.3M | $12.0B | ||
| Q1 24 | $420.3M | $11.1B |
股东权益DBIRUN
| Q4 25 | $298.6M | $3.1B | ||
| Q3 25 | $280.8M | $3.0B | ||
| Q2 25 | $266.9M | $2.9B | ||
| Q1 25 | $278.5M | $2.6B | ||
| Q4 24 | $318.5M | $2.6B | ||
| Q3 24 | $355.5M | $5.3B | ||
| Q2 24 | $358.5M | $5.4B | ||
| Q1 24 | $359.2M | $5.2B |
总资产DBIRUN
| Q4 25 | $2.1B | $22.6B | ||
| Q3 25 | $2.1B | $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DBIRUN
| Q4 25 | 1.55× | 4.69× | ||
| Q3 25 | 1.81× | 4.90× | ||
| Q2 25 | 1.93× | 4.80× | ||
| Q1 25 | 1.74× | 5.19× | ||
| Q4 24 | 1.66× | 5.05× | ||
| Q3 24 | 1.29× | 2.36× | ||
| Q2 24 | 1.31× | 2.23× | ||
| Q1 24 | 1.17× | 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 | $66.5M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $57.5M | — |
| 自由现金流率自由现金流/营收 | 7.6% | — |
| 资本支出强度资本支出/营收 | 1.2% | — |
| 现金转化率经营现金流/净利润 | 3.65× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $99.9M | — |
8季度趋势，按日历期对齐
经营现金流DBIRUN
| Q4 25 | $66.5M | $96.9M | ||
| Q3 25 | $21.4M | $-121.5M | ||
| Q2 25 | $-20.4M | $-292.7M | ||
| Q1 25 | $70.1M | $-104.2M | ||
| Q4 24 | $-9.8M | $-258.4M | ||
| Q3 24 | $41.6M | $-156.2M | ||
| Q2 24 | $-19.7M | $-208.5M | ||
| Q1 24 | $-40.1M | $-143.1M |
自由现金流DBIRUN
| Q4 25 | $57.5M | — | ||
| Q3 25 | $11.9M | — | ||
| Q2 25 | $-27.6M | — | ||
| Q1 25 | $58.1M | — | ||
| Q4 24 | $-19.2M | — | ||
| Q3 24 | $28.0M | $-156.4M | ||
| Q2 24 | $-35.6M | — | ||
| Q1 24 | $-52.8M | — |
自由现金流率DBIRUN
| Q4 25 | 7.6% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | -4.0% | — | ||
| Q1 25 | 8.1% | — | ||
| Q4 24 | -2.5% | — | ||
| Q3 24 | 3.6% | -29.1% | ||
| Q2 24 | -4.8% | — | ||
| Q1 24 | -7.0% | — |
资本支出强度DBIRUN
| Q4 25 | 1.2% | — | ||
| Q3 25 | 1.3% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 1.2% | — | ||
| Q3 24 | 1.8% | 0.0% | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | 1.7% | — |
现金转化率DBIRUN
| Q4 25 | 3.65× | 0.94× | ||
| Q3 25 | 1.98× | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | -0.75× | — | ||
| Q3 24 | 3.01× | — | ||
| Q2 24 | -25.13× | -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
DBI
| Womens | $280.7M | 37% |
| Athletic Footwear | $188.6M | 25% |
| Wholesale | $89.8M | 12% |
| Canada Retail Segment | $77.3M | 10% |
| Mens | $76.1M | 10% |
| Kids | $24.2M | 3% |
| Commission Income | $10.8M | 1% |
| Directto Consumer | $1.3M | 0% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
