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HNI CORP（HNI）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HNI CORP的1.7倍（$1.2B vs $683.8M），Sunrun Inc.净利率更高（8.9% vs 6.0%，领先2.9%），Sunrun Inc.同比增速更快（123.5% vs 1.7%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 0.3%）
HNI公司是全球营收规模领先的办公家具制造商之一，同时也是全球壁炉产品行业的头部企业，生产销售燃气、电、燃木及生物质燃料壁炉、嵌入式炉具、取暖炉、饰面及相关配件。公司1944年由工程师C.麦克斯韦·斯坦利等三人联合创立，总部位于美国爱荷华州马斯卡廷。
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。
HNI vs RUN — 直观对比
营收规模更大
RUN
是对方的1.7倍
$683.8M
营收增速更快
RUN
高出121.8%
1.7%
净利率更高
RUN
高出2.9%
6.0%
两年增速更快
RUN
近两年复合增速
0.3%
损益表 — Q3 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $683.8M | $1.2B |
| 净利润 | $41.2M | $103.6M |
| 毛利率 | 42.1% | — |
| 营业利润率 | 9.4% | 8.4% |
| 净利率 | 6.0% | 8.9% |
| 营收同比 | 1.7% | 123.5% |
| 净利润同比 | -13.3% | 103.7% |
| 每股收益（稀释后） | $0.88 | $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HNIRUN
| Q4 25 | — | $1.2B | ||
| Q3 25 | $683.8M | $724.6M | ||
| Q2 25 | $667.1M | $569.3M | ||
| Q1 25 | $599.8M | $504.3M | ||
| Q4 24 | $642.5M | $518.5M | ||
| Q3 24 | $672.2M | $537.2M | ||
| Q2 24 | $623.7M | $523.9M | ||
| Q1 24 | $588.0M | $458.2M |
净利润HNIRUN
| Q4 25 | — | $103.6M | ||
| Q3 25 | $41.2M | $16.6M | ||
| Q2 25 | $48.2M | $279.8M | ||
| Q1 25 | $13.9M | $50.0M | ||
| Q4 24 | $38.3M | $-2.8B | ||
| Q3 24 | $47.5M | $-83.8M | ||
| Q2 24 | $36.0M | $139.1M | ||
| Q1 24 | $17.7M | $-87.8M |
毛利率HNIRUN
| Q4 25 | — | — | ||
| Q3 25 | 42.1% | — | ||
| Q2 25 | 42.9% | — | ||
| Q1 25 | 39.7% | — | ||
| Q4 24 | 40.5% | — | ||
| Q3 24 | 41.5% | — | ||
| Q2 24 | 41.9% | — | ||
| Q1 24 | 39.6% | — |
营业利润率HNIRUN
| Q4 25 | — | 8.4% | ||
| Q3 25 | 9.4% | 0.5% | ||
| Q2 25 | 10.2% | -19.7% | ||
| Q1 25 | 4.1% | -22.8% | ||
| Q4 24 | 8.5% | -628.0% | ||
| Q3 24 | 10.2% | -23.8% | ||
| Q2 24 | 8.6% | -24.4% | ||
| Q1 24 | 5.1% | -40.0% |
净利率HNIRUN
| Q4 25 | — | 8.9% | ||
| Q3 25 | 6.0% | 2.3% | ||
| Q2 25 | 7.2% | 49.1% | ||
| Q1 25 | 2.3% | 9.9% | ||
| Q4 24 | 6.0% | -542.7% | ||
| Q3 24 | 7.1% | -15.6% | ||
| Q2 24 | 5.8% | 26.5% | ||
| Q1 24 | 3.0% | -19.2% |
每股收益（稀释后）HNIRUN
| Q4 25 | — | $0.38 | ||
| Q3 25 | $0.88 | $0.06 | ||
| Q2 25 | $1.02 | $1.07 | ||
| Q1 25 | $0.29 | $0.20 | ||
| Q4 24 | $0.78 | $-12.59 | ||
| Q3 24 | $0.98 | $-0.37 | ||
| Q2 24 | $0.75 | $0.55 | ||
| Q1 24 | $0.37 | $-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 | $28.1M | — |
| 总债务越低越好 | $324.2M | $14.7B |
| 股东权益账面价值 | $835.9M | $3.1B |
| 总资产 | $1.8B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.39× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资HNIRUN
| Q4 25 | — | — | ||
| Q3 25 | $28.1M | — | ||
| Q2 25 | $38.2M | — | ||
| Q1 25 | $27.5M | — | ||
| Q4 24 | $28.9M | — | ||
| Q3 24 | $40.2M | — | ||
| Q2 24 | $33.5M | — | ||
| Q1 24 | $32.5M | — |
总债务HNIRUN
| Q4 25 | — | $14.7B | ||
| Q3 25 | $324.2M | $14.6B | ||
| Q2 25 | $444.4M | $14.0B | ||
| Q1 25 | $404.7M | $13.6B | ||
| Q4 24 | $344.6M | $12.9B | ||
| Q3 24 | $345.4M | $12.5B | ||
| Q2 24 | $462.3M | $12.0B | ||
| Q1 24 | $473.0M | $11.1B |
股东权益HNIRUN
| Q4 25 | — | $3.1B | ||
| Q3 25 | $835.9M | $3.0B | ||
| Q2 25 | $811.0M | $2.9B | ||
| Q1 25 | $803.6M | $2.6B | ||
| Q4 24 | $840.1M | $2.6B | ||
| Q3 24 | $846.6M | $5.3B | ||
| Q2 24 | $787.8M | $5.4B | ||
| Q1 24 | $771.5M | $5.2B |
总资产HNIRUN
| Q4 25 | — | $22.6B | ||
| Q3 25 | $1.8B | $22.2B | ||
| Q2 25 | $1.9B | $21.2B | ||
| Q1 25 | $1.9B | $20.4B | ||
| Q4 24 | $1.9B | $19.9B | ||
| Q3 24 | $1.9B | $22.1B | ||
| Q2 24 | $1.9B | $21.4B | ||
| Q1 24 | $1.9B | $20.8B |
负债/权益比HNIRUN
| Q4 25 | — | 4.69× | ||
| Q3 25 | 0.39× | 4.90× | ||
| Q2 25 | 0.55× | 4.80× | ||
| Q1 25 | 0.50× | 5.19× | ||
| Q4 24 | 0.41× | 5.05× | ||
| Q3 24 | 0.41× | 2.36× | ||
| Q2 24 | 0.59× | 2.23× | ||
| Q1 24 | 0.61× | 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 | $155.2M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $135.6M | — |
| 自由现金流率自由现金流/营收 | 19.8% | — |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | 3.77× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $189.5M | — |
8季度趋势，按日历期对齐
经营现金流HNIRUN
| Q4 25 | — | $96.9M | ||
| Q3 25 | $155.2M | $-121.5M | ||
| Q2 25 | $31.1M | $-292.7M | ||
| Q1 25 | $12.6M | $-104.2M | ||
| Q4 24 | $51.2M | $-258.4M | ||
| Q3 24 | $128.5M | $-156.2M | ||
| Q2 24 | $51.3M | $-208.5M | ||
| Q1 24 | $-4.3M | $-143.1M |
自由现金流HNIRUN
| Q4 25 | — | — | ||
| Q3 25 | $135.6M | — | ||
| Q2 25 | $16.1M | — | ||
| Q1 25 | $-3.7M | — | ||
| Q4 24 | $41.5M | — | ||
| Q3 24 | $114.0M | $-156.4M | ||
| Q2 24 | $33.8M | — | ||
| Q1 24 | $-15.5M | — |
自由现金流率HNIRUN
| Q4 25 | — | — | ||
| Q3 25 | 19.8% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | -0.6% | — | ||
| Q4 24 | 6.5% | — | ||
| Q3 24 | 17.0% | -29.1% | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | -2.6% | — |
资本支出强度HNIRUN
| Q4 25 | — | — | ||
| Q3 25 | 2.9% | — | ||
| Q2 25 | 2.2% | — | ||
| Q1 25 | 2.7% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 2.2% | 0.0% | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 1.9% | — |
现金转化率HNIRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | 3.77× | -7.33× | ||
| Q2 25 | 0.65× | -1.05× | ||
| Q1 25 | 0.91× | -2.08× | ||
| Q4 24 | 1.34× | — | ||
| Q3 24 | 2.71× | — | ||
| Q2 24 | 1.43× | -1.50× | ||
| Q1 24 | -0.24× | — |
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
HNI
| Systems Storage And Table | $309.9M | 45% |
| Residential Building Products | $166.9M | 24% |
| Seating Products | $161.1M | 24% |
| Other Products | $45.9M | 7% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
