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FactSet（FDS）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FactSet的1.9倍（$1.2B vs $607.6M），FactSet净利率更高（25.1% vs 8.9%，领先16.2%），Sunrun Inc.同比增速更快（123.5% vs 6.9%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 5.5%）
FactSet是总部位于美国康涅狄格州诺沃克的金融数据与软件企业，为客户提供一体化数据及软件解决方案。2024财年，公司年度订阅价值与专业服务营收合计22亿美元，当前总市值约170亿美元。
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。
FDS vs RUN — 直观对比
营收规模更大
RUN
是对方的1.9倍
$607.6M
营收增速更快
RUN
高出116.7%
6.9%
净利率更高
FDS
高出16.2%
8.9%
两年增速更快
RUN
近两年复合增速
5.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $607.6M | $1.2B |
| 净利润 | $152.6M | $103.6M |
| 毛利率 | 52.6% | — |
| 营业利润率 | 31.6% | 8.4% |
| 净利率 | 25.1% | 8.9% |
| 营收同比 | 6.9% | 123.5% |
| 净利润同比 | 1.7% | 103.7% |
| 每股收益（稀释后） | $4.06 | $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FDSRUN
| Q4 25 | $607.6M | $1.2B | ||
| Q3 25 | $596.9M | $724.6M | ||
| Q2 25 | $585.5M | $569.3M | ||
| Q1 25 | $570.7M | $504.3M | ||
| Q4 24 | $568.7M | $518.5M | ||
| Q3 24 | $562.2M | $537.2M | ||
| Q2 24 | $552.7M | $523.9M | ||
| Q1 24 | $545.9M | $458.2M |
净利润FDSRUN
| Q4 25 | $152.6M | $103.6M | ||
| Q3 25 | $153.6M | $16.6M | ||
| Q2 25 | $148.5M | $279.8M | ||
| Q1 25 | $144.9M | $50.0M | ||
| Q4 24 | $150.0M | $-2.8B | ||
| Q3 24 | $89.5M | $-83.8M | ||
| Q2 24 | $158.1M | $139.1M | ||
| Q1 24 | $140.9M | $-87.8M |
毛利率FDSRUN
| Q4 25 | 52.6% | — | ||
| Q3 25 | 51.6% | — | ||
| Q2 25 | 52.1% | — | ||
| Q1 25 | 52.8% | — | ||
| Q4 24 | 54.5% | — | ||
| Q3 24 | 54.1% | — | ||
| Q2 24 | 55.3% | — | ||
| Q1 24 | 53.3% | — |
营业利润率FDSRUN
| Q4 25 | 31.6% | 8.4% | ||
| Q3 25 | 29.7% | 0.5% | ||
| Q2 25 | 33.2% | -19.7% | ||
| Q1 25 | 32.5% | -22.8% | ||
| Q4 24 | 33.6% | -628.0% | ||
| Q3 24 | 22.7% | -23.8% | ||
| Q2 24 | 36.6% | -24.4% | ||
| Q1 24 | 33.3% | -40.0% |
净利率FDSRUN
| Q4 25 | 25.1% | 8.9% | ||
| Q3 25 | 25.7% | 2.3% | ||
| Q2 25 | 25.4% | 49.1% | ||
| Q1 25 | 25.4% | 9.9% | ||
| Q4 24 | 26.4% | -542.7% | ||
| Q3 24 | 15.9% | -15.6% | ||
| Q2 24 | 28.6% | 26.5% | ||
| Q1 24 | 25.8% | -19.2% |
每股收益（稀释后）FDSRUN
| Q4 25 | $4.06 | $0.38 | ||
| Q3 25 | $4.03 | $0.06 | ||
| Q2 25 | $3.87 | $1.07 | ||
| Q1 25 | $3.76 | $0.20 | ||
| Q4 24 | $3.89 | $-12.59 | ||
| Q3 24 | $2.33 | $-0.37 | ||
| Q2 24 | $4.09 | $0.55 | ||
| Q1 24 | $3.65 | $-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 | $292.7M | — |
| 总债务越低越好 | $1.4B | $14.7B |
| 股东权益账面价值 | $2.2B | $3.1B |
| 总资产 | $4.2B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.63× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资FDSRUN
| Q4 25 | $292.7M | — | ||
| Q3 25 | $355.1M | — | ||
| Q2 25 | $364.0M | — | ||
| Q1 25 | $287.0M | — | ||
| Q4 24 | $358.8M | — | ||
| Q3 24 | $492.6M | — | ||
| Q2 24 | $522.0M | — | ||
| Q1 24 | $450.2M | — |
总债务FDSRUN
| Q4 25 | $1.4B | $14.7B | ||
| Q3 25 | $1.4B | $14.6B | ||
| Q2 25 | $1.4B | $14.0B | ||
| Q1 25 | $1.5B | $13.6B | ||
| Q4 24 | $1.4B | $12.9B | ||
| Q3 24 | $1.4B | $12.5B | ||
| Q2 24 | $1.4B | $12.0B | ||
| Q1 24 | $1.5B | $11.1B |
股东权益FDSRUN
| Q4 25 | $2.2B | $3.1B | ||
| Q3 25 | $2.2B | $3.0B | ||
| Q2 25 | $2.2B | $2.9B | ||
| Q1 25 | $2.1B | $2.6B | ||
| Q4 24 | $2.0B | $2.6B | ||
| Q3 24 | $1.9B | $5.3B | ||
| Q2 24 | $1.9B | $5.4B | ||
| Q1 24 | $1.8B | $5.2B |
总资产FDSRUN
| Q4 25 | $4.2B | $22.6B | ||
| Q3 25 | $4.3B | $22.2B | ||
| Q2 25 | $4.3B | $21.2B | ||
| Q1 25 | $4.2B | $20.4B | ||
| Q4 24 | $4.0B | $19.9B | ||
| Q3 24 | $4.1B | $22.1B | ||
| Q2 24 | $4.0B | $21.4B | ||
| Q1 24 | $4.0B | $20.8B |
负债/权益比FDSRUN
| Q4 25 | 0.63× | 4.69× | ||
| Q3 25 | 0.63× | 4.90× | ||
| Q2 25 | 0.66× | 4.80× | ||
| Q1 25 | 0.72× | 5.19× | ||
| Q4 24 | 0.68× | 5.05× | ||
| Q3 24 | 0.71× | 2.36× | ||
| Q2 24 | 0.76× | 2.23× | ||
| Q1 24 | 0.83× | 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 | $121.3M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $90.4M | — |
| 自由现金流率自由现金流/营收 | 14.9% | — |
| 资本支出强度资本支出/营收 | 5.1% | — |
| 现金转化率经营现金流/净利润 | 0.79× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $647.4M | — |
8季度趋势，按日历期对齐
经营现金流FDSRUN
| Q4 25 | $121.3M | $96.9M | ||
| Q3 25 | $212.1M | $-121.5M | ||
| Q2 25 | $253.8M | $-292.7M | ||
| Q1 25 | $174.0M | $-104.2M | ||
| Q4 24 | $86.4M | $-258.4M | ||
| Q3 24 | $163.2M | $-156.2M | ||
| Q2 24 | $238.2M | $-208.5M | ||
| Q1 24 | $143.8M | $-143.1M |
自由现金流FDSRUN
| Q4 25 | $90.4M | — | ||
| Q3 25 | $178.1M | — | ||
| Q2 25 | $228.6M | — | ||
| Q1 25 | $150.2M | — | ||
| Q4 24 | $60.5M | — | ||
| Q3 24 | $137.2M | $-156.4M | ||
| Q2 24 | $216.9M | — | ||
| Q1 24 | $121.9M | — |
自由现金流率FDSRUN
| Q4 25 | 14.9% | — | ||
| Q3 25 | 29.8% | — | ||
| Q2 25 | 39.0% | — | ||
| Q1 25 | 26.3% | — | ||
| Q4 24 | 10.6% | — | ||
| Q3 24 | 24.4% | -29.1% | ||
| Q2 24 | 39.2% | — | ||
| Q1 24 | 22.3% | — |
资本支出强度FDSRUN
| Q4 25 | 5.1% | — | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 4.5% | — | ||
| Q3 24 | 4.6% | 0.0% | ||
| Q2 24 | 3.9% | — | ||
| Q1 24 | 4.0% | — |
现金转化率FDSRUN
| Q4 25 | 0.79× | 0.94× | ||
| Q3 25 | 1.38× | -7.33× | ||
| Q2 25 | 1.71× | -1.05× | ||
| Q1 25 | 1.20× | -2.08× | ||
| Q4 24 | 0.58× | — | ||
| Q3 24 | 1.82× | — | ||
| Q2 24 | 1.51× | -1.50× | ||
| Q1 24 | 1.02× | — |
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
FDS
| Americas Segment | $399.7M | 66% |
| EMEA Segment | $149.1M | 25% |
| Asia Pacific Segment | $62.2M | 10% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
