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Digital Realty（DLR）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
Digital Realty的季度营收约是Sunrun Inc.的1.4倍（$1.6B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs 6.0%，领先2.9%），Sunrun Inc.同比增速更快（123.5% vs 16.1%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 9.8%）
Digital Realty是一家全球知名的不动产投资信托企业，核心业务涵盖全球各地运营商中立数据中心的持有、运营与投资，可为客户提供数据中心部署、主机托管、网络互联等多元专业服务，能够满足不同企业对算力基础设施、数据存储及网络连接的多样化需求。
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。
DLR vs RUN — 直观对比
营收规模更大
DLR
是对方的1.4倍
$1.2B
营收增速更快
RUN
高出107.4%
16.1%
净利率更高
RUN
高出2.9%
6.0%
两年增速更快
RUN
近两年复合增速
9.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $98.6M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 6.9% | 8.4% |
| 净利率 | 6.0% | 8.9% |
| 营收同比 | 16.1% | 123.5% |
| 净利润同比 | -10.3% | 103.7% |
| 每股收益（稀释后） | $0.22 | $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DLRRUN
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.6B | $724.6M | ||
| Q2 25 | $1.5B | $569.3M | ||
| Q1 25 | $1.4B | $504.3M | ||
| Q4 24 | $1.4B | $518.5M | ||
| Q3 24 | $1.4B | $537.2M | ||
| Q2 24 | $1.4B | $523.9M |
净利润DLRRUN
| Q1 26 | $98.6M | — | ||
| Q4 25 | $98.6M | $103.6M | ||
| Q3 25 | $67.8M | $16.6M | ||
| Q2 25 | $1.0B | $279.8M | ||
| Q1 25 | $110.0M | $50.0M | ||
| Q4 24 | $189.6M | $-2.8B | ||
| Q3 24 | $51.2M | $-83.8M | ||
| Q2 24 | $80.2M | $139.1M |
营业利润率DLRRUN
| Q1 26 | 6.9% | — | ||
| Q4 25 | 6.9% | 8.4% | ||
| Q3 25 | 8.8% | 0.5% | ||
| Q2 25 | 14.2% | -19.7% | ||
| Q1 25 | 13.9% | -22.8% | ||
| Q4 24 | 10.1% | -628.0% | ||
| Q3 24 | 11.8% | -23.8% | ||
| Q2 24 | 0.7% | -24.4% |
净利率DLRRUN
| Q1 26 | 6.0% | — | ||
| Q4 25 | 6.0% | 8.9% | ||
| Q3 25 | 4.3% | 2.3% | ||
| Q2 25 | 69.1% | 49.1% | ||
| Q1 25 | 7.8% | 9.9% | ||
| Q4 24 | 13.2% | -542.7% | ||
| Q3 24 | 3.6% | -15.6% | ||
| Q2 24 | 5.9% | 26.5% |
每股收益（稀释后）DLRRUN
| Q1 26 | $0.22 | — | ||
| Q4 25 | $0.22 | $0.38 | ||
| Q3 25 | $0.15 | $0.06 | ||
| Q2 25 | $2.94 | $1.07 | ||
| Q1 25 | $0.27 | $0.20 | ||
| Q4 24 | $0.50 | $-12.59 | ||
| Q3 24 | $0.09 | $-0.37 | ||
| Q2 24 | $0.20 | $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 | $3.5B | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $22.9B | $3.1B |
| 总资产 | $49.4B | $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DLRRUN
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.6B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $2.2B | — | ||
| Q2 24 | $2.3B | — |
总债务DLRRUN
| Q1 26 | — | — | ||
| 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 |
股东权益DLRRUN
| Q1 26 | $22.9B | — | ||
| Q4 25 | $22.9B | $3.1B | ||
| Q3 25 | $23.0B | $3.0B | ||
| Q2 25 | $22.9B | $2.9B | ||
| Q1 25 | $21.3B | $2.6B | ||
| Q4 24 | $21.3B | $2.6B | ||
| Q3 24 | $21.2B | $5.3B | ||
| Q2 24 | $20.5B | $5.4B |
总资产DLRRUN
| Q1 26 | $49.4B | — | ||
| Q4 25 | $49.4B | $22.6B | ||
| Q3 25 | $48.7B | $22.2B | ||
| Q2 25 | $48.7B | $21.2B | ||
| Q1 25 | $45.1B | $20.4B | ||
| Q4 24 | $45.3B | $19.9B | ||
| Q3 24 | $45.3B | $22.1B | ||
| Q2 24 | $43.6B | $21.4B |
负债/权益比DLRRUN
| Q1 26 | — | — | ||
| 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× |
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 | — | — |
| 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DLRRUN
| Q1 26 | — | — | ||
| Q4 25 | $719.0M | $96.9M | ||
| Q3 25 | $652.9M | $-121.5M | ||
| Q2 25 | $641.2M | $-292.7M | ||
| Q1 25 | $399.1M | $-104.2M | ||
| Q4 24 | $769.5M | $-258.4M | ||
| Q3 24 | $566.5M | $-156.2M | ||
| Q2 24 | $573.2M | $-208.5M |
自由现金流DLRRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-156.4M | ||
| Q2 24 | — | — |
自由现金流率DLRRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -29.1% | ||
| Q2 24 | — | — |
资本支出强度DLRRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — |
现金转化率DLRRUN
| Q1 26 | — | — | ||
| Q4 25 | 7.29× | 0.94× | ||
| Q3 25 | 9.63× | -7.33× | ||
| Q2 25 | 0.62× | -1.05× | ||
| Q1 25 | 3.63× | -2.08× | ||
| Q4 24 | 4.06× | — | ||
| Q3 24 | 11.07× | — | ||
| Q2 24 | 7.15× | -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
DLR
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% |
