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Deckers Brands（DECK）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
Deckers Brands的季度营收约是Sunrun Inc.的1.7倍（$2.0B vs $1.2B），Deckers Brands净利率更高（24.6% vs 8.9%，领先15.6%），Sunrun Inc.同比增速更快（123.5% vs 7.1%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 42.8%）
Deckers Brands是1973年成立的美国鞋履设计与分销企业，总部位于加利福尼亚州戈利塔，由道格·奥托与卡尔·F·洛普克共同创立。公司旗下拥有UGG、Teva、Hoka等全球知名鞋履品牌，产品覆盖休闲、户外等多个领域，销往世界多地。
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。
DECK vs RUN — 直观对比
营收规模更大
DECK
是对方的1.7倍
$1.2B
营收增速更快
RUN
高出116.4%
7.1%
净利率更高
DECK
高出15.6%
8.9%
两年增速更快
RUN
近两年复合增速
42.8%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $481.1M | $103.6M |
| 毛利率 | 59.8% | — |
| 营业利润率 | 31.4% | 8.4% |
| 净利率 | 24.6% | 8.9% |
| 营收同比 | 7.1% | 123.5% |
| 净利润同比 | 5.3% | 103.7% |
| 每股收益（稀释后） | $3.33 | $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DECKRUN
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $1.4B | $724.6M | ||
| Q2 25 | $964.5M | $569.3M | ||
| Q1 25 | $1.0B | $504.3M | ||
| Q4 24 | $1.8B | $518.5M | ||
| Q3 24 | $1.3B | $537.2M | ||
| Q2 24 | $825.3M | $523.9M | ||
| Q1 24 | $959.8M | $458.2M |
净利润DECKRUN
| Q4 25 | $481.1M | $103.6M | ||
| Q3 25 | $268.2M | $16.6M | ||
| Q2 25 | $139.2M | $279.8M | ||
| Q1 25 | $151.4M | $50.0M | ||
| Q4 24 | $456.7M | $-2.8B | ||
| Q3 24 | $242.3M | $-83.8M | ||
| Q2 24 | $115.6M | $139.1M | ||
| Q1 24 | $127.5M | $-87.8M |
毛利率DECKRUN
| Q4 25 | 59.8% | — | ||
| Q3 25 | 56.2% | — | ||
| Q2 25 | 55.8% | — | ||
| Q1 25 | 56.7% | — | ||
| Q4 24 | 60.3% | — | ||
| Q3 24 | 55.9% | — | ||
| Q2 24 | 56.9% | — | ||
| Q1 24 | 56.2% | — |
营业利润率DECKRUN
| Q4 25 | 31.4% | 8.4% | ||
| Q3 25 | 22.8% | 0.5% | ||
| Q2 25 | 17.1% | -19.7% | ||
| Q1 25 | 17.0% | -22.8% | ||
| Q4 24 | 31.0% | -628.0% | ||
| Q3 24 | 23.3% | -23.8% | ||
| Q2 24 | 16.1% | -24.4% | ||
| Q1 24 | 15.0% | -40.0% |
净利率DECKRUN
| Q4 25 | 24.6% | 8.9% | ||
| Q3 25 | 18.7% | 2.3% | ||
| Q2 25 | 14.4% | 49.1% | ||
| Q1 25 | 14.8% | 9.9% | ||
| Q4 24 | 25.0% | -542.7% | ||
| Q3 24 | 18.5% | -15.6% | ||
| Q2 24 | 14.0% | 26.5% | ||
| Q1 24 | 13.3% | -19.2% |
每股收益（稀释后）DECKRUN
| Q4 25 | $3.33 | $0.38 | ||
| Q3 25 | $1.82 | $0.06 | ||
| Q2 25 | $0.93 | $1.07 | ||
| Q1 25 | $-2.78 | $0.20 | ||
| Q4 24 | $3.00 | $-12.59 | ||
| Q3 24 | $1.59 | $-0.37 | ||
| Q2 24 | $4.52 | $0.55 | ||
| Q1 24 | $4.82 | $-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 | $2.1B | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $2.6B | $3.1B |
| 总资产 | $4.1B | $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DECKRUN
| Q4 25 | $2.1B | — | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.7B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.5B | — |
总债务DECKRUN
| 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DECKRUN
| Q4 25 | $2.6B | $3.1B | ||
| Q3 25 | $2.5B | $3.0B | ||
| Q2 25 | $2.5B | $2.9B | ||
| Q1 25 | $2.5B | $2.6B | ||
| Q4 24 | $2.6B | $2.6B | ||
| Q3 24 | $2.2B | $5.3B | ||
| Q2 24 | $2.1B | $5.4B | ||
| Q1 24 | $2.1B | $5.2B |
总资产DECKRUN
| Q4 25 | $4.1B | $22.6B | ||
| Q3 25 | $3.8B | $22.2B | ||
| Q2 25 | $3.8B | $21.2B | ||
| Q1 25 | $3.6B | $20.4B | ||
| Q4 24 | $4.0B | $19.9B | ||
| Q3 24 | $3.4B | $22.1B | ||
| Q2 24 | $3.3B | $21.4B | ||
| Q1 24 | $3.1B | $20.8B |
负债/权益比DECKRUN
| 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 | $1.0B | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $1.0B | — |
| 自由现金流率自由现金流/营收 | 52.1% | — |
| 资本支出强度资本支出/营收 | 1.1% | — |
| 现金转化率经营现金流/净利润 | 2.17× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $929.1M | — |
8季度趋势，按日历期对齐
经营现金流DECKRUN
| Q4 25 | $1.0B | $96.9M | ||
| Q3 25 | $8.1M | $-121.5M | ||
| Q2 25 | $36.1M | $-292.7M | ||
| Q1 25 | $-73.0M | $-104.2M | ||
| Q4 24 | $1.1B | $-258.4M | ||
| Q3 24 | $-90.5M | $-156.2M | ||
| Q2 24 | $112.7M | $-208.5M | ||
| Q1 24 | $-28.7M | $-143.1M |
自由现金流DECKRUN
| Q4 25 | $1.0B | — | ||
| Q3 25 | $-13.9M | — | ||
| Q2 25 | $12.2M | — | ||
| Q1 25 | $-89.4M | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $-113.4M | $-156.4M | ||
| Q2 24 | $90.1M | — | ||
| Q1 24 | $-44.0M | — |
自由现金流率DECKRUN
| Q4 25 | 52.1% | — | ||
| Q3 25 | -1.0% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | -8.8% | — | ||
| Q4 24 | 58.6% | — | ||
| Q3 24 | -8.6% | -29.1% | ||
| Q2 24 | 10.9% | — | ||
| Q1 24 | -4.6% | — |
资本支出强度DECKRUN
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 1.7% | 0.0% | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 1.6% | — |
现金转化率DECKRUN
| Q4 25 | 2.17× | 0.94× | ||
| Q3 25 | 0.03× | -7.33× | ||
| Q2 25 | 0.26× | -1.05× | ||
| Q1 25 | -0.48× | -2.08× | ||
| Q4 24 | 2.40× | — | ||
| Q3 24 | -0.37× | — | ||
| Q2 24 | 0.97× | -1.50× | ||
| Q1 24 | -0.22× | — |
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
DECK
| UGG Brand Segment | $1.3B | 67% |
| Hoka Brand Segment | $628.9M | 32% |
| Other Brands Segment | $23.2M | 1% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
