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DraftKings Inc.（DKNG）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
DraftKings Inc.的季度营收约是Sunrun Inc.的1.7倍（$2.0B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs 6.9%，领先2.1%），Sunrun Inc.同比增速更快（123.5% vs 42.8%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 30.1%）
DraftKings Inc.是总部位于美国马萨诸塞州波士顿的博彩企业，主要提供体育博彩、每日范特西体育相关服务，是全球线上博彩娱乐赛道的知名企业，业务覆盖多个国家和地区的合规消费市场。
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。
DKNG vs RUN — 直观对比
营收规模更大
DKNG
是对方的1.7倍
$1.2B
营收增速更快
RUN
高出80.7%
42.8%
净利率更高
RUN
高出2.1%
6.9%
两年增速更快
RUN
近两年复合增速
30.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $136.4M | $103.6M |
| 毛利率 | 46.0% | — |
| 营业利润率 | 7.6% | 8.4% |
| 净利率 | 6.9% | 8.9% |
| 营收同比 | 42.8% | 123.5% |
| 净利润同比 | 201.2% | 103.7% |
| 每股收益（稀释后） | $0.28 | $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DKNGRUN
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $1.1B | $724.6M | ||
| Q2 25 | $1.5B | $569.3M | ||
| Q1 25 | $1.4B | $504.3M | ||
| Q4 24 | $1.4B | $518.5M | ||
| Q3 24 | $1.1B | $537.2M | ||
| Q2 24 | $1.1B | $523.9M | ||
| Q1 24 | $1.2B | $458.2M |
净利润DKNGRUN
| Q4 25 | $136.4M | $103.6M | ||
| Q3 25 | $-256.8M | $16.6M | ||
| Q2 25 | $157.9M | $279.8M | ||
| Q1 25 | $-33.9M | $50.0M | ||
| Q4 24 | $-134.9M | $-2.8B | ||
| Q3 24 | $-293.7M | $-83.8M | ||
| Q2 24 | $63.8M | $139.1M | ||
| Q1 24 | $-142.6M | $-87.8M |
毛利率DKNGRUN
| Q4 25 | 46.0% | — | ||
| Q3 25 | 31.5% | — | ||
| Q2 25 | 43.5% | — | ||
| Q1 25 | 40.1% | — | ||
| Q4 24 | 40.1% | — | ||
| Q3 24 | 32.2% | — | ||
| Q2 24 | 39.9% | — | ||
| Q1 24 | 39.6% | — |
营业利润率DKNGRUN
| Q4 25 | 7.6% | 8.4% | ||
| Q3 25 | -23.8% | 0.5% | ||
| Q2 25 | 10.0% | -19.7% | ||
| Q1 25 | -3.3% | -22.8% | ||
| Q4 24 | -10.0% | -628.0% | ||
| Q3 24 | -27.3% | -23.8% | ||
| Q2 24 | -2.9% | -24.4% | ||
| Q1 24 | -11.8% | -40.0% |
净利率DKNGRUN
| Q4 25 | 6.9% | 8.9% | ||
| Q3 25 | -22.4% | 2.3% | ||
| Q2 25 | 10.4% | 49.1% | ||
| Q1 25 | -2.4% | 9.9% | ||
| Q4 24 | -9.7% | -542.7% | ||
| Q3 24 | -26.8% | -15.6% | ||
| Q2 24 | 5.8% | 26.5% | ||
| Q1 24 | -12.1% | -19.2% |
每股收益（稀释后）DKNGRUN
| Q4 25 | $0.28 | $0.38 | ||
| Q3 25 | $-0.52 | $0.06 | ||
| Q2 25 | $0.30 | $1.07 | ||
| Q1 25 | $-0.07 | $0.20 | ||
| Q4 24 | $-0.25 | $-12.59 | ||
| Q3 24 | $-0.60 | $-0.37 | ||
| Q2 24 | $0.10 | $0.55 | ||
| Q1 24 | $-0.30 | $-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 | $1.1B | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $631.5M | $3.1B |
| 总资产 | $4.5B | $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DKNGRUN
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $788.3M | — | ||
| Q3 24 | $877.8M | — | ||
| Q2 24 | $815.9M | — | ||
| Q1 24 | $1.2B | — |
总债务DKNGRUN
| 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DKNGRUN
| Q4 25 | $631.5M | $3.1B | ||
| Q3 25 | $732.3M | $3.0B | ||
| Q2 25 | $1.0B | $2.9B | ||
| Q1 25 | $872.9M | $2.6B | ||
| Q4 24 | $1.0B | $2.6B | ||
| Q3 24 | $1.1B | $5.3B | ||
| Q2 24 | $1.3B | $5.4B | ||
| Q1 24 | $831.0M | $5.2B |
总资产DKNGRUN
| Q4 25 | $4.5B | $22.6B | ||
| Q3 25 | $4.6B | $22.2B | ||
| Q2 25 | $4.5B | $21.2B | ||
| Q1 25 | $4.5B | $20.4B | ||
| Q4 24 | $4.3B | $19.9B | ||
| Q3 24 | $4.3B | $22.1B | ||
| Q2 24 | $4.2B | $21.4B | ||
| Q1 24 | $3.8B | $20.8B |
负债/权益比DKNGRUN
| 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 | $320.5M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $316.5M | — |
| 自由现金流率自由现金流/营收 | 15.9% | — |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 现金转化率经营现金流/净利润 | 2.35× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $647.5M | — |
8季度趋势，按日历期对齐
经营现金流DKNGRUN
| Q4 25 | $320.5M | $96.9M | ||
| Q3 25 | $287.5M | $-121.5M | ||
| Q2 25 | $173.9M | $-292.7M | ||
| Q1 25 | $-119.0M | $-104.2M | ||
| Q4 24 | $325.2M | $-258.4M | ||
| Q3 24 | $133.6M | $-156.2M | ||
| Q2 24 | $29.4M | $-208.5M | ||
| Q1 24 | $-70.4M | $-143.1M |
自由现金流DKNGRUN
| Q4 25 | $316.5M | — | ||
| Q3 25 | $283.0M | — | ||
| Q2 25 | $169.6M | — | ||
| Q1 25 | $-121.7M | — | ||
| Q4 24 | $323.2M | — | ||
| Q3 24 | $130.9M | $-156.4M | ||
| Q2 24 | $27.0M | — | ||
| Q1 24 | $-73.4M | — |
自由现金流率DKNGRUN
| Q4 25 | 15.9% | — | ||
| Q3 25 | 24.7% | — | ||
| Q2 25 | 11.2% | — | ||
| Q1 25 | -8.6% | — | ||
| Q4 24 | 23.2% | — | ||
| Q3 24 | 11.9% | -29.1% | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | -6.2% | — |
资本支出强度DKNGRUN
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.2% | 0.0% | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.3% | — |
现金转化率DKNGRUN
| Q4 25 | 2.35× | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | 1.10× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.46× | -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
DKNG
| Sportsbook | $1.4B | 68% |
| I Gaming | $500.2M | 25% |
| Other | $137.9M | 7% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
