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杜邦（DD）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
杜邦的季度营收约是Sunrun Inc.的1.5倍（$1.7B vs $1.2B），杜邦净利率更高（9.8% vs 8.9%，领先0.8%），Sunrun Inc.同比增速更快（123.5% vs 4.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -27.2%）
杜邦（DuPont de Nemours, Inc.）是1802年由法裔美国化学家、实业家埃莱乌泰尔·伊雷内·杜邦创立的美国跨国化工企业，最初以火药供应为核心业务起家，在发展过程中对美国特拉华州的建设推进起到了重要作用，业务布局覆盖全球多个地区。
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。
DD vs RUN — 直观对比
营收规模更大
DD
是对方的1.5倍
$1.2B
营收增速更快
RUN
高出119.5%
4.0%
净利率更高
DD
高出0.8%
8.9%
两年增速更快
RUN
近两年复合增速
-27.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $164.0M | $103.6M |
| 毛利率 | 35.8% | — |
| 营业利润率 | — | 8.4% |
| 净利率 | 9.8% | 8.9% |
| 营收同比 | 4.0% | 123.5% |
| 净利润同比 | — | 103.7% |
| 每股收益（稀释后） | $0.36 | $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DDRUN
| Q1 26 | $1.7B | — | ||
| Q4 25 | $-2.5B | $1.2B | ||
| Q3 25 | $3.1B | $724.6M | ||
| Q2 25 | $3.3B | $569.3M | ||
| Q1 25 | $3.1B | $504.3M | ||
| Q4 24 | $3.1B | $518.5M | ||
| Q3 24 | $3.2B | $537.2M | ||
| Q2 24 | $3.2B | $523.9M |
净利润DDRUN
| Q1 26 | $164.0M | — | ||
| Q4 25 | $-126.0M | $103.6M | ||
| Q3 25 | $-123.0M | $16.6M | ||
| Q2 25 | $59.0M | $279.8M | ||
| Q1 25 | $-589.0M | $50.0M | ||
| Q4 24 | $-118.0M | $-2.8B | ||
| Q3 24 | $454.0M | $-83.8M | ||
| Q2 24 | $178.0M | $139.1M |
毛利率DDRUN
| Q1 26 | 35.8% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 38.9% | — | ||
| Q2 25 | 37.3% | — | ||
| Q1 25 | 37.4% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 37.4% | — | ||
| Q2 24 | 37.1% | — |
营业利润率DDRUN
| Q1 26 | — | — | ||
| Q4 25 | — | 8.4% | ||
| Q3 25 | 10.6% | 0.5% | ||
| Q2 25 | 9.4% | -19.7% | ||
| Q1 25 | -14.0% | -22.8% | ||
| Q4 24 | 1.4% | -628.0% | ||
| Q3 24 | 18.4% | -23.8% | ||
| Q2 24 | 9.3% | -24.4% |
净利率DDRUN
| Q1 26 | 9.8% | — | ||
| Q4 25 | 4.9% | 8.9% | ||
| Q3 25 | -4.0% | 2.3% | ||
| Q2 25 | 1.8% | 49.1% | ||
| Q1 25 | -19.2% | 9.9% | ||
| Q4 24 | -3.8% | -542.7% | ||
| Q3 24 | 14.2% | -15.6% | ||
| Q2 24 | 5.6% | 26.5% |
每股收益（稀释后）DDRUN
| Q1 26 | $0.36 | — | ||
| Q4 25 | $-0.30 | $0.38 | ||
| Q3 25 | $-0.29 | $0.06 | ||
| Q2 25 | $0.14 | $1.07 | ||
| Q1 25 | $-1.41 | $0.20 | ||
| Q4 24 | $-0.28 | $-12.59 | ||
| Q3 24 | $1.08 | $-0.37 | ||
| Q2 24 | $0.42 | $0.55 |
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 | $710.0M | — |
| 总债务越低越好 | $3.2B | $14.7B |
| 股东权益账面价值 | $14.2B | $3.1B |
| 总资产 | $21.4B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.22× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资DDRUN
| Q1 26 | $710.0M | — | ||
| Q4 25 | $715.0M | — | ||
| Q3 25 | $2.0B | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.8B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $1.6B | — | ||
| Q2 24 | $1.5B | — |
总债务DDRUN
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.1B | $14.7B | ||
| Q3 25 | $7.0B | $14.6B | ||
| Q2 25 | $5.3B | $14.0B | ||
| Q1 25 | $5.3B | $13.6B | ||
| Q4 24 | $5.3B | $12.9B | ||
| Q3 24 | $7.2B | $12.5B | ||
| Q2 24 | $7.2B | $12.0B |
股东权益DDRUN
| Q1 26 | $14.2B | — | ||
| Q4 25 | $13.9B | $3.1B | ||
| Q3 25 | $22.9B | $3.0B | ||
| Q2 25 | $23.1B | $2.9B | ||
| Q1 25 | $22.8B | $2.6B | ||
| Q4 24 | $23.4B | $2.6B | ||
| Q3 24 | $24.2B | $5.3B | ||
| Q2 24 | $23.3B | $5.4B |
总资产DDRUN
| Q1 26 | $21.4B | — | ||
| Q4 25 | $21.6B | $22.6B | ||
| Q3 25 | $38.0B | $22.2B | ||
| Q2 25 | $36.6B | $21.2B | ||
| Q1 25 | $36.0B | $20.4B | ||
| Q4 24 | $36.6B | $19.9B | ||
| Q3 24 | $37.5B | $22.1B | ||
| Q2 24 | $36.6B | $21.4B |
负债/权益比DDRUN
| Q1 26 | 0.22× | — | ||
| Q4 25 | 0.23× | 4.69× | ||
| Q3 25 | 0.31× | 4.90× | ||
| Q2 25 | 0.23× | 4.80× | ||
| Q1 25 | 0.23× | 5.19× | ||
| Q4 24 | 0.23× | 5.05× | ||
| Q3 24 | 0.30× | 2.36× | ||
| Q2 24 | 0.31× | 2.23× |
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 | — | $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 | 6.1% | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流DDRUN
| Q1 26 | — | — | ||
| Q4 25 | $-700.0M | $96.9M | ||
| Q3 25 | $497.0M | $-121.5M | ||
| Q2 25 | $381.0M | $-292.7M | ||
| Q1 25 | $382.0M | $-104.2M | ||
| Q4 24 | $564.0M | $-258.4M | ||
| Q3 24 | $737.0M | $-156.2M | ||
| Q2 24 | $527.0M | $-208.5M |
自由现金流DDRUN
| Q1 26 | — | — | ||
| Q4 25 | $-850.0M | — | ||
| Q3 25 | $379.0M | — | ||
| Q2 25 | $265.0M | — | ||
| Q1 25 | $133.0M | — | ||
| Q4 24 | $403.0M | — | ||
| Q3 24 | $628.0M | $-156.4M | ||
| Q2 24 | $425.0M | — |
自由现金流率DDRUN
| Q1 26 | — | — | ||
| Q4 25 | 33.4% | — | ||
| Q3 25 | 12.3% | — | ||
| Q2 25 | 8.1% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 13.0% | — | ||
| Q3 24 | 19.7% | -29.1% | ||
| Q2 24 | 13.4% | — |
资本支出强度DDRUN
| Q1 26 | 6.1% | — | ||
| Q4 25 | -5.9% | — | ||
| Q3 25 | 3.8% | — | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 8.1% | — | ||
| Q4 24 | 5.2% | — | ||
| Q3 24 | 3.4% | 0.0% | ||
| Q2 24 | 3.2% | — |
现金转化率DDRUN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | 6.46× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.62× | — | ||
| Q2 24 | 2.96× | -1.50× |
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
DD
暂无分部数据
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
