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Datadog（DDOG）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Datadog的1.2倍（$1.2B vs $953.2M），Sunrun Inc.净利率更高（8.9% vs 4.9%，领先4.1%），Sunrun Inc.同比增速更快（123.5% vs 29.2%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 24.9%）
Datadog是一家美国企业，为云级应用提供可观测性服务，旗下SaaS数据分析平台可实现对服务器、数据库、各类工具及服务的统一监控。公司成立并总部位于纽约，目前在纳斯达克证券交易所公开上市。
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。
DDOG vs RUN — 直观对比
营收规模更大
RUN
是对方的1.2倍
$953.2M
营收增速更快
RUN
高出94.3%
29.2%
净利率更高
RUN
高出4.1%
4.9%
两年增速更快
RUN
近两年复合增速
24.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $953.2M | $1.2B |
| 净利润 | $46.6M | $103.6M |
| 毛利率 | 80.4% | — |
| 营业利润率 | 1.0% | 8.4% |
| 净利率 | 4.9% | 8.9% |
| 营收同比 | 29.2% | 123.5% |
| 净利润同比 | 2.1% | 103.7% |
| 每股收益（稀释后） | $0.13 | $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DDOGRUN
| Q4 25 | $953.2M | $1.2B | ||
| Q3 25 | $885.7M | $724.6M | ||
| Q2 25 | $826.8M | $569.3M | ||
| Q1 25 | $761.6M | $504.3M | ||
| Q4 24 | $737.7M | $518.5M | ||
| Q3 24 | $690.0M | $537.2M | ||
| Q2 24 | $645.3M | $523.9M | ||
| Q1 24 | $611.3M | $458.2M |
净利润DDOGRUN
| Q4 25 | $46.6M | $103.6M | ||
| Q3 25 | $33.9M | $16.6M | ||
| Q2 25 | $2.6M | $279.8M | ||
| Q1 25 | $24.6M | $50.0M | ||
| Q4 24 | $45.6M | $-2.8B | ||
| Q3 24 | $51.7M | $-83.8M | ||
| Q2 24 | $43.8M | $139.1M | ||
| Q1 24 | $42.6M | $-87.8M |
毛利率DDOGRUN
| Q4 25 | 80.4% | — | ||
| Q3 25 | 80.1% | — | ||
| Q2 25 | 79.9% | — | ||
| Q1 25 | 79.3% | — | ||
| Q4 24 | 80.5% | — | ||
| Q3 24 | 80.0% | — | ||
| Q2 24 | 80.9% | — | ||
| Q1 24 | 82.0% | — |
营业利润率DDOGRUN
| Q4 25 | 1.0% | 8.4% | ||
| Q3 25 | -0.7% | 0.5% | ||
| Q2 25 | -4.3% | -19.7% | ||
| Q1 25 | -1.6% | -22.8% | ||
| Q4 24 | 1.3% | -628.0% | ||
| Q3 24 | 2.9% | -23.8% | ||
| Q2 24 | 2.0% | -24.4% | ||
| Q1 24 | 2.0% | -40.0% |
净利率DDOGRUN
| Q4 25 | 4.9% | 8.9% | ||
| Q3 25 | 3.8% | 2.3% | ||
| Q2 25 | 0.3% | 49.1% | ||
| Q1 25 | 3.2% | 9.9% | ||
| Q4 24 | 6.2% | -542.7% | ||
| Q3 24 | 7.5% | -15.6% | ||
| Q2 24 | 6.8% | 26.5% | ||
| Q1 24 | 7.0% | -19.2% |
每股收益（稀释后）DDOGRUN
| Q4 25 | $0.13 | $0.38 | ||
| Q3 25 | $0.10 | $0.06 | ||
| Q2 25 | $0.01 | $1.07 | ||
| Q1 25 | $0.07 | $0.20 | ||
| Q4 24 | $0.14 | $-12.59 | ||
| Q3 24 | $0.14 | $-0.37 | ||
| Q2 24 | $0.12 | $0.55 | ||
| Q1 24 | $0.12 | $-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 | $401.3M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $3.7B | $3.1B |
| 总资产 | $6.6B | $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DDOGRUN
| Q4 25 | $401.3M | — | ||
| Q3 25 | $540.6M | — | ||
| Q2 25 | $489.0M | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $337.4M | — | ||
| Q2 24 | $411.0M | — | ||
| Q1 24 | $282.2M | — |
总债务DDOGRUN
| 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DDOGRUN
| Q4 25 | $3.7B | $3.1B | ||
| Q3 25 | $3.4B | $3.0B | ||
| Q2 25 | $3.2B | $2.9B | ||
| Q1 25 | $2.9B | $2.6B | ||
| Q4 24 | $2.7B | $2.6B | ||
| Q3 24 | $2.6B | $5.3B | ||
| Q2 24 | $2.4B | $5.4B | ||
| Q1 24 | $2.2B | $5.2B |
总资产DDOGRUN
| Q4 25 | $6.6B | $22.6B | ||
| Q3 25 | $6.1B | $22.2B | ||
| Q2 25 | $5.8B | $21.2B | ||
| Q1 25 | $6.0B | $20.4B | ||
| Q4 24 | $5.8B | $19.9B | ||
| Q3 24 | $4.6B | $22.1B | ||
| Q2 24 | $4.4B | $21.4B | ||
| Q1 24 | $4.1B | $20.8B |
负债/权益比DDOGRUN
| 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 | $327.1M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $318.2M | — |
| 自由现金流率自由现金流/营收 | 33.4% | — |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | 7.02× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $1.0B | — |
8季度趋势，按日历期对齐
经营现金流DDOGRUN
| Q4 25 | $327.1M | $96.9M | ||
| Q3 25 | $251.5M | $-121.5M | ||
| Q2 25 | $200.1M | $-292.7M | ||
| Q1 25 | $271.5M | $-104.2M | ||
| Q4 24 | $265.2M | $-258.4M | ||
| Q3 24 | $228.7M | $-156.2M | ||
| Q2 24 | $164.4M | $-208.5M | ||
| Q1 24 | $212.3M | $-143.1M |
自由现金流DDOGRUN
| Q4 25 | $318.2M | — | ||
| Q3 25 | $234.7M | — | ||
| Q2 25 | $184.9M | — | ||
| Q1 25 | $262.8M | — | ||
| Q4 24 | $257.5M | — | ||
| Q3 24 | $220.3M | $-156.4M | ||
| Q2 24 | $160.0M | — | ||
| Q1 24 | $198.1M | — |
自由现金流率DDOGRUN
| Q4 25 | 33.4% | — | ||
| Q3 25 | 26.5% | — | ||
| Q2 25 | 22.4% | — | ||
| Q1 25 | 34.5% | — | ||
| Q4 24 | 34.9% | — | ||
| Q3 24 | 31.9% | -29.1% | ||
| Q2 24 | 24.8% | — | ||
| Q1 24 | 32.4% | — |
资本支出强度DDOGRUN
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.9% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.2% | 0.0% | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 2.3% | — |
现金转化率DDOGRUN
| Q4 25 | 7.02× | 0.94× | ||
| Q3 25 | 7.42× | -7.33× | ||
| Q2 25 | 75.58× | -1.05× | ||
| Q1 25 | 11.02× | -2.08× | ||
| Q4 24 | 5.82× | — | ||
| Q3 24 | 4.42× | — | ||
| Q2 24 | 3.75× | -1.50× | ||
| Q1 24 | 4.98× | — |
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
DDOG
| North America | $678.7M | 71% |
| International | $274.5M | 29% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
