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Globe Life（GL）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
Globe Life的季度营收约是Sunrun Inc.的1.3倍（$1.6B vs $1.2B），Globe Life净利率更高（17.3% vs 8.9%，领先8.4%），Sunrun Inc.同比增速更快（123.5% vs 5.3%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 4.1%）
Globe Life Inc.（股票代码：GL）是总部位于美国得克萨斯州麦金尼的金融服务控股公司，在纽约证券交易所上市，通过旗下全资子公司开展业务，主营人寿保险、年金产品及补充健康保险产品。
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。
GL vs RUN — 直观对比
营收规模更大
GL
是对方的1.3倍
$1.2B
营收增速更快
RUN
高出118.2%
5.3%
净利率更高
GL
高出8.4%
8.9%
两年增速更快
RUN
近两年复合增速
4.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $270.5M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | — | 8.4% |
| 净利率 | 17.3% | 8.9% |
| 营收同比 | 5.3% | 123.5% |
| 净利润同比 | — | 103.7% |
| 每股收益（稀释后） | $3.39 | $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GLRUN
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $724.6M | ||
| Q2 25 | $1.5B | $569.3M | ||
| Q1 25 | $1.5B | $504.3M | ||
| Q4 24 | $1.5B | $518.5M | ||
| Q3 24 | $1.5B | $537.2M | ||
| Q2 24 | $1.4B | $523.9M |
净利润GLRUN
| Q1 26 | $270.5M | — | ||
| Q4 25 | $266.1M | $103.6M | ||
| Q3 25 | $387.8M | $16.6M | ||
| Q2 25 | $252.7M | $279.8M | ||
| Q1 25 | $254.6M | $50.0M | ||
| Q4 24 | $255.2M | $-2.8B | ||
| Q3 24 | $303.0M | $-83.8M | ||
| Q2 24 | $258.4M | $139.1M |
毛利率GLRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 26.1% | — | ||
| Q2 24 | 23.3% | — |
营业利润率GLRUN
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | 8.4% | ||
| Q3 25 | 31.5% | 0.5% | ||
| Q2 25 | 21.2% | -19.7% | ||
| Q1 25 | 21.4% | -22.8% | ||
| Q4 24 | 21.3% | -628.0% | ||
| Q3 24 | 26.3% | -23.8% | ||
| Q2 24 | 23.5% | -24.4% |
净利率GLRUN
| Q1 26 | 17.3% | — | ||
| Q4 25 | 17.5% | 8.9% | ||
| Q3 25 | 25.6% | 2.3% | ||
| Q2 25 | 17.1% | 49.1% | ||
| Q1 25 | 17.2% | 9.9% | ||
| Q4 24 | 17.4% | -542.7% | ||
| Q3 24 | 20.8% | -15.6% | ||
| Q2 24 | 17.9% | 26.5% |
每股收益（稀释后）GLRUN
| Q1 26 | $3.39 | — | ||
| Q4 25 | $3.28 | $0.38 | ||
| Q3 25 | $4.73 | $0.06 | ||
| Q2 25 | $3.05 | $1.07 | ||
| Q1 25 | $3.01 | $0.20 | ||
| Q4 24 | $3.00 | $-12.59 | ||
| Q3 24 | $3.44 | $-0.37 | ||
| Q2 24 | $2.83 | $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 | $183.8M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $6.1B | $3.1B |
| 总资产 | — | $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GLRUN
| Q1 26 | $183.8M | — | ||
| Q4 25 | $314.7M | — | ||
| Q3 25 | $62.8M | — | ||
| Q2 25 | $116.7M | — | ||
| Q1 25 | $134.1M | — | ||
| Q4 24 | $85.0M | — | ||
| Q3 24 | $100.5M | — | ||
| Q2 24 | $100.6M | — |
总债务GLRUN
| 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GLRUN
| Q1 26 | $6.1B | — | ||
| Q4 25 | $6.0B | $3.1B | ||
| Q3 25 | $5.7B | $3.0B | ||
| Q2 25 | $5.4B | $2.9B | ||
| Q1 25 | $5.4B | $2.6B | ||
| Q4 24 | $5.3B | $2.6B | ||
| Q3 24 | $4.6B | $5.3B | ||
| Q2 24 | $5.2B | $5.4B |
总资产GLRUN
| Q1 26 | — | — | ||
| Q4 25 | $30.8B | $22.6B | ||
| Q3 25 | $30.5B | $22.2B | ||
| Q2 25 | $29.8B | $21.2B | ||
| Q1 25 | $29.7B | $20.4B | ||
| Q4 24 | $29.1B | $19.9B | ||
| Q3 24 | $29.6B | $22.1B | ||
| Q2 24 | $28.3B | $21.4B |
负债/权益比GLRUN
| 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GLRUN
| Q1 26 | — | — | ||
| Q4 25 | $350.6M | $96.9M | ||
| Q3 25 | $306.0M | $-121.5M | ||
| Q2 25 | $307.9M | $-292.7M | ||
| Q1 25 | $431.9M | $-104.2M | ||
| Q4 24 | $336.9M | $-258.4M | ||
| Q3 24 | $340.6M | $-156.2M | ||
| Q2 24 | $374.1M | $-208.5M |
自由现金流GLRUN
| Q1 26 | — | — | ||
| Q4 25 | $330.1M | — | ||
| Q3 25 | $208.7M | — | ||
| Q2 25 | $295.0M | — | ||
| Q1 25 | $420.1M | — | ||
| Q4 24 | $321.9M | — | ||
| Q3 24 | $311.3M | $-156.4M | ||
| Q2 24 | $356.5M | — |
自由现金流率GLRUN
| Q1 26 | — | — | ||
| Q4 25 | 21.7% | — | ||
| Q3 25 | 13.8% | — | ||
| Q2 25 | 19.9% | — | ||
| Q1 25 | 28.4% | — | ||
| Q4 24 | 22.0% | — | ||
| Q3 24 | 21.4% | -29.1% | ||
| Q2 24 | 24.8% | — |
资本支出强度GLRUN
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | — | ||
| Q3 25 | 6.4% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 1.0% | — | ||
| Q3 24 | 2.0% | 0.0% | ||
| Q2 24 | 1.2% | — |
现金转化率GLRUN
| Q1 26 | — | — | ||
| Q4 25 | 1.32× | 0.94× | ||
| Q3 25 | 0.79× | -7.33× | ||
| Q2 25 | 1.22× | -1.05× | ||
| Q1 25 | 1.70× | -2.08× | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.12× | — | ||
| Q2 24 | 1.45× | -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
GL
| Life premium | $853.2M | 55% |
| Health premium | $416.9M | 27% |
| Other | $289.5M | 19% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
