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Element Solutions Inc（ESI）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Element Solutions Inc的1.4倍（$1.2B vs $840.0M），Sunrun Inc.净利率更高（8.9% vs 6.7%，领先2.3%），Sunrun Inc.同比增速更快（123.5% vs 41.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 17.1%）
Element Solutions Inc是一家总部位于美国的特种化学品生产企业，专注于特种化学品领域的生产运营，于纽约证券交易所挂牌上市，业务覆盖全球多个市场，为各行业客户提供专业的特种化学品产品及相关解决方案。
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。
ESI vs RUN — 直观对比
营收规模更大
RUN
是对方的1.4倍
$840.0M
营收增速更快
RUN
高出82.5%
41.0%
净利率更高
RUN
高出2.3%
6.7%
两年增速更快
RUN
近两年复合增速
17.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $840.0M | $1.2B |
| 净利润 | $56.0M | $103.6M |
| 毛利率 | 38.4% | — |
| 营业利润率 | 13.3% | 8.4% |
| 净利率 | 6.7% | 8.9% |
| 营收同比 | 41.0% | 123.5% |
| 净利润同比 | -43.0% | 103.7% |
| 每股收益（稀释后） | $0.23 | $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ESIRUN
| Q1 26 | $840.0M | — | ||
| Q4 25 | $676.2M | $1.2B | ||
| Q3 25 | $656.1M | $724.6M | ||
| Q2 25 | $625.2M | $569.3M | ||
| Q1 25 | $593.7M | $504.3M | ||
| Q4 24 | $624.2M | $518.5M | ||
| Q3 24 | $645.0M | $537.2M | ||
| Q2 24 | $612.7M | $523.9M |
净利润ESIRUN
| Q1 26 | $56.0M | — | ||
| Q4 25 | $6.2M | $103.6M | ||
| Q3 25 | $39.3M | $16.6M | ||
| Q2 25 | $47.4M | $279.8M | ||
| Q1 25 | $98.0M | $50.0M | ||
| Q4 24 | $54.7M | $-2.8B | ||
| Q3 24 | $40.3M | $-83.8M | ||
| Q2 24 | $93.2M | $139.1M |
毛利率ESIRUN
| Q1 26 | 38.4% | — | ||
| Q4 25 | 40.9% | — | ||
| Q3 25 | 42.2% | — | ||
| Q2 25 | 42.6% | — | ||
| Q1 25 | 42.2% | — | ||
| Q4 24 | 41.0% | — | ||
| Q3 24 | 41.5% | — | ||
| Q2 24 | 43.6% | — |
营业利润率ESIRUN
| Q1 26 | 13.3% | — | ||
| Q4 25 | 10.3% | 8.4% | ||
| Q3 25 | 15.4% | 0.5% | ||
| Q2 25 | 15.1% | -19.7% | ||
| Q1 25 | 13.0% | -22.8% | ||
| Q4 24 | 12.0% | -628.0% | ||
| Q3 24 | 14.7% | -23.8% | ||
| Q2 24 | 15.7% | -24.4% |
净利率ESIRUN
| Q1 26 | 6.7% | — | ||
| Q4 25 | 0.9% | 8.9% | ||
| Q3 25 | 6.0% | 2.3% | ||
| Q2 25 | 7.6% | 49.1% | ||
| Q1 25 | 16.5% | 9.9% | ||
| Q4 24 | 8.8% | -542.7% | ||
| Q3 24 | 6.2% | -15.6% | ||
| Q2 24 | 15.2% | 26.5% |
每股收益（稀释后）ESIRUN
| Q1 26 | $0.23 | — | ||
| Q4 25 | $0.03 | $0.38 | ||
| Q3 25 | $0.16 | $0.06 | ||
| Q2 25 | $0.20 | $1.07 | ||
| Q1 25 | $0.40 | $0.20 | ||
| Q4 24 | $0.22 | $-12.59 | ||
| Q3 24 | $0.17 | $-0.37 | ||
| Q2 24 | $0.39 | $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 | $177.3M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $2.7B | $3.1B |
| 总资产 | $5.7B | $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ESIRUN
| Q1 26 | $177.3M | — | ||
| Q4 25 | $626.5M | — | ||
| Q3 25 | $594.3M | — | ||
| Q2 25 | $529.9M | — | ||
| Q1 25 | $499.2M | — | ||
| Q4 24 | $359.4M | — | ||
| Q3 24 | $376.0M | — | ||
| Q2 24 | $309.3M | — |
总债务ESIRUN
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $14.7B | ||
| Q3 25 | $1.6B | $14.6B | ||
| Q2 25 | $1.6B | $14.0B | ||
| Q1 25 | $1.6B | $13.6B | ||
| Q4 24 | $1.8B | $12.9B | ||
| Q3 24 | $1.9B | $12.5B | ||
| Q2 24 | $1.9B | $12.0B |
股东权益ESIRUN
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $3.1B | ||
| Q3 25 | $2.7B | $3.0B | ||
| Q2 25 | $2.6B | $2.9B | ||
| Q1 25 | $2.5B | $2.6B | ||
| Q4 24 | $2.4B | $2.6B | ||
| Q3 24 | $2.4B | $5.3B | ||
| Q2 24 | $2.4B | $5.4B |
总资产ESIRUN
| Q1 26 | $5.7B | — | ||
| Q4 25 | $5.1B | $22.6B | ||
| Q3 25 | $5.0B | $22.2B | ||
| Q2 25 | $5.0B | $21.2B | ||
| Q1 25 | $4.8B | $20.4B | ||
| Q4 24 | $4.9B | $19.9B | ||
| Q3 24 | $5.1B | $22.1B | ||
| Q2 24 | $5.0B | $21.4B |
负债/权益比ESIRUN
| Q1 26 | — | — | ||
| Q4 25 | 0.61× | 4.69× | ||
| Q3 25 | 0.61× | 4.90× | ||
| Q2 25 | 0.62× | 4.80× | ||
| Q1 25 | 0.64× | 5.19× | ||
| Q4 24 | 0.76× | 5.05× | ||
| Q3 24 | 0.78× | 2.36× | ||
| Q2 24 | 0.81× | 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 | $-74.2M | — |
| 自由现金流率自由现金流/营收 | -8.8% | — |
| 资本支出强度资本支出/营收 | 3.0% | — |
| 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ESIRUN
| Q1 26 | — | — | ||
| Q4 25 | — | $96.9M | ||
| Q3 25 | $100.1M | $-121.5M | ||
| Q2 25 | — | $-292.7M | ||
| Q1 25 | $26.0M | $-104.2M | ||
| Q4 24 | — | $-258.4M | ||
| Q3 24 | $98.5M | $-156.2M | ||
| Q2 24 | — | $-208.5M |
自由现金流ESIRUN
| Q1 26 | $-74.2M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $83.6M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $15.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $85.9M | $-156.4M | ||
| Q2 24 | — | — |
自由现金流率ESIRUN
| Q1 26 | -8.8% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 12.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.3% | -29.1% | ||
| Q2 24 | — | — |
资本支出强度ESIRUN
| Q1 26 | 3.0% | — | ||
| Q4 25 | 2.5% | — | ||
| Q3 25 | 2.5% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 3.6% | — | ||
| Q3 24 | 2.0% | 0.0% | ||
| Q2 24 | 2.4% | — |
现金转化率ESIRUN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.94× | ||
| Q3 25 | 2.55× | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | 0.27× | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.44× | — | ||
| Q2 24 | — | -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
ESI
| Electronics ex-Metals | $377.8M | 45% |
| Pass-through Metals | $255.7M | 30% |
| Other | $206.5M | 25% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
