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G III APPAREL GROUP LTD（GIII）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G III APPAREL GROUP LTD的1.2倍（$1.2B vs $988.6M），Sunrun Inc.净利率更高（8.9% vs 8.2%，领先0.8%），Sunrun Inc.同比增速更快（123.5% vs -9.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 13.7%）
GIII服装集团是一家国际时尚企业，设计、生产及销售服装、鞋履、配饰等产品，拥有多个知名自有及授权品牌，覆盖休闲、运动、轻奢等多个品类，主要销往北美、欧洲等全球市场，合作客户包括百货商场、专业零售商及电商平台。
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。
GIII vs RUN — 直观对比
营收规模更大
RUN
是对方的1.2倍
$988.6M
营收增速更快
RUN
高出132.5%
-9.0%
净利率更高
RUN
高出0.8%
8.2%
两年增速更快
RUN
近两年复合增速
13.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $988.6M | $1.2B |
| 净利润 | $80.6M | $103.6M |
| 毛利率 | 38.6% | — |
| 营业利润率 | 11.4% | 8.4% |
| 净利率 | 8.2% | 8.9% |
| 营收同比 | -9.0% | 123.5% |
| 净利润同比 | -29.8% | 103.7% |
| 每股收益（稀释后） | $1.84 | $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GIIIRUN
| Q4 25 | $988.6M | $1.2B | ||
| Q3 25 | $613.3M | $724.6M | ||
| Q2 25 | $583.6M | $569.3M | ||
| Q1 25 | $839.5M | $504.3M | ||
| Q4 24 | $1.1B | $518.5M | ||
| Q3 24 | $644.8M | $537.2M | ||
| Q2 24 | $609.7M | $523.9M | ||
| Q1 24 | $764.8M | $458.2M |
净利润GIIIRUN
| Q4 25 | $80.6M | $103.6M | ||
| Q3 25 | $10.9M | $16.6M | ||
| Q2 25 | $7.8M | $279.8M | ||
| Q1 25 | $48.8M | $50.0M | ||
| Q4 24 | $114.8M | $-2.8B | ||
| Q3 24 | $24.2M | $-83.8M | ||
| Q2 24 | $5.8M | $139.1M | ||
| Q1 24 | $28.9M | $-87.8M |
毛利率GIIIRUN
| Q4 25 | 38.6% | — | ||
| Q3 25 | 40.8% | — | ||
| Q2 25 | 42.2% | — | ||
| Q1 25 | 39.5% | — | ||
| Q4 24 | 39.8% | — | ||
| Q3 24 | 42.8% | — | ||
| Q2 24 | 42.5% | — | ||
| Q1 24 | 36.9% | — |
营业利润率GIIIRUN
| Q4 25 | 11.4% | 8.4% | ||
| Q3 25 | 2.7% | 0.5% | ||
| Q2 25 | 1.5% | -19.7% | ||
| Q1 25 | 8.5% | -22.8% | ||
| Q4 24 | 15.3% | -628.0% | ||
| Q3 24 | 6.4% | -23.8% | ||
| Q2 24 | 2.2% | -24.4% | ||
| Q1 24 | 6.1% | -40.0% |
净利率GIIIRUN
| Q4 25 | 8.2% | 8.9% | ||
| Q3 25 | 1.8% | 2.3% | ||
| Q2 25 | 1.3% | 49.1% | ||
| Q1 25 | 5.8% | 9.9% | ||
| Q4 24 | 10.6% | -542.7% | ||
| Q3 24 | 3.8% | -15.6% | ||
| Q2 24 | 1.0% | 26.5% | ||
| Q1 24 | 3.8% | -19.2% |
每股收益（稀释后）GIIIRUN
| Q4 25 | $1.84 | $0.38 | ||
| Q3 25 | $0.25 | $0.06 | ||
| Q2 25 | $0.17 | $1.07 | ||
| Q1 25 | $1.00 | $0.20 | ||
| Q4 24 | $2.55 | $-12.59 | ||
| Q3 24 | $0.53 | $-0.37 | ||
| Q2 24 | $0.12 | $0.55 | ||
| Q1 24 | $0.59 | $-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 | $184.1M | — |
| 总债务越低越好 | $6.5M | $14.7B |
| 股东权益账面价值 | $1.8B | $3.1B |
| 总资产 | $2.8B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.00× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资GIIIRUN
| Q4 25 | $184.1M | — | ||
| Q3 25 | $301.8M | — | ||
| Q2 25 | $257.8M | — | ||
| Q1 25 | $181.4M | — | ||
| Q4 24 | $104.7M | — | ||
| Q3 24 | $414.8M | — | ||
| Q2 24 | $508.4M | — | ||
| Q1 24 | $507.8M | — |
总债务GIIIRUN
| Q4 25 | $6.5M | $14.7B | ||
| Q3 25 | $6.9M | $14.6B | ||
| Q2 25 | $6.8M | $14.0B | ||
| Q1 25 | $3.0M | $13.6B | ||
| Q4 24 | $213.9M | $12.9B | ||
| Q3 24 | $402.5M | $12.5B | ||
| Q2 24 | $402.7M | $12.0B | ||
| Q1 24 | $402.8M | $11.1B |
股东权益GIIIRUN
| Q4 25 | $1.8B | $3.1B | ||
| Q3 25 | $1.7B | $3.0B | ||
| Q2 25 | $1.7B | $2.9B | ||
| Q1 25 | $1.7B | $2.6B | ||
| Q4 24 | $1.6B | $2.6B | ||
| Q3 24 | $1.5B | $5.3B | ||
| Q2 24 | $1.5B | $5.4B | ||
| Q1 24 | $1.6B | $5.2B |
总资产GIIIRUN
| Q4 25 | $2.8B | $22.6B | ||
| Q3 25 | $2.7B | $22.2B | ||
| Q2 25 | $2.4B | $21.2B | ||
| Q1 25 | $2.5B | $20.4B | ||
| Q4 24 | $2.8B | $19.9B | ||
| Q3 24 | $2.7B | $22.1B | ||
| Q2 24 | $2.6B | $21.4B | ||
| Q1 24 | $2.7B | $20.8B |
负债/权益比GIIIRUN
| Q4 25 | 0.00× | 4.69× | ||
| Q3 25 | 0.00× | 4.90× | ||
| Q2 25 | 0.00× | 4.80× | ||
| Q1 25 | 0.00× | 5.19× | ||
| Q4 24 | 0.13× | 5.05× | ||
| Q3 24 | 0.27× | 2.36× | ||
| Q2 24 | 0.26× | 2.23× | ||
| Q1 24 | 0.26× | 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 | $-97.3M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $-106.4M | — |
| 自由现金流率自由现金流/营收 | -10.8% | — |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | -1.21× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $367.7M | — |
8季度趋势，按日历期对齐
经营现金流GIIIRUN
| Q4 25 | $-97.3M | $96.9M | ||
| Q3 25 | $75.1M | $-121.5M | ||
| Q2 25 | $93.8M | $-292.7M | ||
| Q1 25 | $333.4M | $-104.2M | ||
| Q4 24 | $-111.8M | $-258.4M | ||
| Q3 24 | $49.3M | $-156.2M | ||
| Q2 24 | $45.5M | $-208.5M | ||
| Q1 24 | $361.3M | $-143.1M |
自由现金流GIIIRUN
| Q4 25 | $-106.4M | — | ||
| Q3 25 | $64.7M | — | ||
| Q2 25 | $85.7M | — | ||
| Q1 25 | $323.7M | — | ||
| Q4 24 | $-120.3M | — | ||
| Q3 24 | $38.8M | $-156.4M | ||
| Q2 24 | $32.8M | — | ||
| Q1 24 | $352.3M | — |
自由现金流率GIIIRUN
| Q4 25 | -10.8% | — | ||
| Q3 25 | 10.6% | — | ||
| Q2 25 | 14.7% | — | ||
| Q1 25 | 38.6% | — | ||
| Q4 24 | -11.1% | — | ||
| Q3 24 | 6.0% | -29.1% | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 46.1% | — |
资本支出强度GIIIRUN
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 1.6% | 0.0% | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | 1.2% | — |
现金转化率GIIIRUN
| Q4 25 | -1.21× | 0.94× | ||
| Q3 25 | 6.86× | -7.33× | ||
| Q2 25 | 12.09× | -1.05× | ||
| Q1 25 | 6.83× | -2.08× | ||
| Q4 24 | -0.97× | — | ||
| Q3 24 | 2.04× | — | ||
| Q2 24 | 7.84× | -1.50× | ||
| Q1 24 | 12.52× | — |
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
GIII
| Proprietary Brands | $498.1M | 50% |
| Licensed Brands | $479.2M | 48% |
| Retail Segment | $45.7M | 5% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
