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礼蓝动物保健（ELAN）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.的季度营收约是礼蓝动物保健的1.0倍（$1.2B vs $1.1B），Sunrun Inc.净利率更高（8.9% vs -24.1%，领先33.1%），Sunrun Inc.同比增速更快（123.5% vs 12.2%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -2.6%）
礼蓝动物保健是一家美国动物保健制药企业，专注于生产宠物及家畜用药品与疫苗。该公司原为礼来公司旗下子公司，2019年完成分拆独立，目前是全球第三大动物保健企业。
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。
ELAN vs RUN — 直观对比
营收规模更大
RUN
是对方的1.0倍
$1.1B
营收增速更快
RUN
高出111.3%
12.2%
净利率更高
RUN
高出33.1%
-24.1%
两年增速更快
RUN
近两年复合增速
-2.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $-276.0M | $103.6M |
| 毛利率 | 51.5% | — |
| 营业利润率 | -22.6% | 8.4% |
| 净利率 | -24.1% | 8.9% |
| 营收同比 | 12.2% | 123.5% |
| 净利润同比 | -3350.0% | 103.7% |
| 每股收益（稀释后） | $-0.55 | $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ELANRUN
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $724.6M | ||
| Q2 25 | $1.2B | $569.3M | ||
| Q1 25 | $1.2B | $504.3M | ||
| Q4 24 | $1.0B | $518.5M | ||
| Q3 24 | $1.0B | $537.2M | ||
| Q2 24 | $1.2B | $523.9M | ||
| Q1 24 | $1.2B | $458.2M |
净利润ELANRUN
| Q4 25 | $-276.0M | $103.6M | ||
| Q3 25 | $-34.0M | $16.6M | ||
| Q2 25 | $11.0M | $279.8M | ||
| Q1 25 | $67.0M | $50.0M | ||
| Q4 24 | $-8.0M | $-2.8B | ||
| Q3 24 | $364.0M | $-83.8M | ||
| Q2 24 | $-50.0M | $139.1M | ||
| Q1 24 | $32.0M | $-87.8M |
毛利率ELANRUN
| Q4 25 | 51.5% | — | ||
| Q3 25 | 53.4% | — | ||
| Q2 25 | 57.5% | — | ||
| Q1 25 | 57.3% | — | ||
| Q4 24 | 50.9% | — | ||
| Q3 24 | 52.2% | — | ||
| Q2 24 | 58.2% | — | ||
| Q1 24 | 57.3% | — |
营业利润率ELANRUN
| Q4 25 | -22.6% | 8.4% | ||
| Q3 25 | -4.4% | 0.5% | ||
| Q2 25 | 2.0% | -19.7% | ||
| Q1 25 | 5.0% | -22.8% | ||
| Q4 24 | -5.0% | -628.0% | ||
| Q3 24 | 54.3% | -23.8% | ||
| Q2 24 | -2.7% | -24.4% | ||
| Q1 24 | 1.0% | -40.0% |
净利率ELANRUN
| Q4 25 | -24.1% | 8.9% | ||
| Q3 25 | -3.0% | 2.3% | ||
| Q2 25 | 0.9% | 49.1% | ||
| Q1 25 | 5.6% | 9.9% | ||
| Q4 24 | -0.8% | -542.7% | ||
| Q3 24 | 35.3% | -15.6% | ||
| Q2 24 | -4.2% | 26.5% | ||
| Q1 24 | 2.7% | -19.2% |
每股收益（稀释后）ELANRUN
| Q4 25 | $-0.55 | $0.38 | ||
| Q3 25 | $-0.07 | $0.06 | ||
| Q2 25 | $0.02 | $1.07 | ||
| Q1 25 | $0.13 | $0.20 | ||
| Q4 24 | $-0.01 | $-12.59 | ||
| Q3 24 | $0.73 | $-0.37 | ||
| Q2 24 | $-0.10 | $0.55 | ||
| Q1 24 | $0.06 | $-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 | $545.0M | — |
| 总债务越低越好 | $3.9B | $14.7B |
| 股东权益账面价值 | $6.5B | $3.1B |
| 总资产 | $13.4B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.60× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资ELANRUN
| Q4 25 | $545.0M | — | ||
| Q3 25 | $505.0M | — | ||
| Q2 25 | $539.0M | — | ||
| Q1 25 | $487.0M | — | ||
| Q4 24 | $468.0M | — | ||
| Q3 24 | $490.0M | — | ||
| Q2 24 | $416.0M | — | ||
| Q1 24 | $345.0M | — |
总债务ELANRUN
| Q4 25 | $3.9B | $14.7B | ||
| Q3 25 | $4.0B | $14.6B | ||
| Q2 25 | $4.1B | $14.0B | ||
| Q1 25 | $4.4B | $13.6B | ||
| Q4 24 | $4.3B | $12.9B | ||
| Q3 24 | $4.4B | $12.5B | ||
| Q2 24 | $5.7B | $12.0B | ||
| Q1 24 | $5.8B | $11.1B |
股东权益ELANRUN
| Q4 25 | $6.5B | $3.1B | ||
| Q3 25 | $6.7B | $3.0B | ||
| Q2 25 | $6.8B | $2.9B | ||
| Q1 25 | $6.4B | $2.6B | ||
| Q4 24 | $6.1B | $2.6B | ||
| Q3 24 | $6.5B | $5.3B | ||
| Q2 24 | $5.9B | $5.4B | ||
| Q1 24 | $6.1B | $5.2B |
总资产ELANRUN
| Q4 25 | $13.4B | $22.6B | ||
| Q3 25 | $13.6B | $22.2B | ||
| Q2 25 | $13.7B | $21.2B | ||
| Q1 25 | $12.9B | $20.4B | ||
| Q4 24 | $12.6B | $19.9B | ||
| Q3 24 | $13.3B | $22.1B | ||
| Q2 24 | $13.8B | $21.4B | ||
| Q1 24 | $14.0B | $20.8B |
负债/权益比ELANRUN
| Q4 25 | 0.60× | 4.69× | ||
| Q3 25 | 0.59× | 4.90× | ||
| Q2 25 | 0.61× | 4.80× | ||
| Q1 25 | 0.69× | 5.19× | ||
| Q4 24 | 0.70× | 5.05× | ||
| Q3 24 | 0.67× | 2.36× | ||
| Q2 24 | 0.96× | 2.23× | ||
| Q1 24 | 0.95× | 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 | $108.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $46.0M | — |
| 自由现金流率自由现金流/营收 | 4.0% | — |
| 资本支出强度资本支出/营收 | 5.4% | — |
| 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 | $284.0M | — |
8季度趋势，按日历期对齐
经营现金流ELANRUN
| Q4 25 | $108.0M | $96.9M | ||
| Q3 25 | $219.0M | $-121.5M | ||
| Q2 25 | $237.0M | $-292.7M | ||
| Q1 25 | $-4.0M | $-104.2M | ||
| Q4 24 | $177.0M | $-258.4M | ||
| Q3 24 | $162.0M | $-156.2M | ||
| Q2 24 | $200.0M | $-208.5M | ||
| Q1 24 | $2.0M | $-143.1M |
自由现金流ELANRUN
| Q4 25 | $46.0M | — | ||
| Q3 25 | $127.0M | — | ||
| Q2 25 | $180.0M | — | ||
| Q1 25 | $-69.0M | — | ||
| Q4 24 | $130.0M | — | ||
| Q3 24 | $120.0M | $-156.4M | ||
| Q2 24 | $166.0M | — | ||
| Q1 24 | $-22.0M | — |
自由现金流率ELANRUN
| Q4 25 | 4.0% | — | ||
| Q3 25 | 11.2% | — | ||
| Q2 25 | 14.5% | — | ||
| Q1 25 | -5.8% | — | ||
| Q4 24 | 12.7% | — | ||
| Q3 24 | 11.7% | -29.1% | ||
| Q2 24 | 14.0% | — | ||
| Q1 24 | -1.8% | — |
资本支出强度ELANRUN
| Q4 25 | 5.4% | — | ||
| Q3 25 | 8.1% | — | ||
| Q2 25 | 4.6% | — | ||
| Q1 25 | 5.4% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 4.1% | 0.0% | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 2.0% | — |
现金转化率ELANRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | 21.55× | -1.05× | ||
| Q1 25 | -0.06× | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.45× | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | 0.06× | — |
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
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 1% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
