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Host Hotels & Resorts（HST）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
Host Hotels & Resorts的季度营收约是Sunrun Inc.的1.4倍（$1.6B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs 8.4%，领先0.5%），Sunrun Inc.同比增速更快（123.5% vs 12.3%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 4.4%）
Host Hotels & Resorts是总部位于美国马里兰州贝塞斯达的房地产投资信托企业，专注于高端酒店资产投资。截至2024年12月31日，公司在美国、巴西、加拿大共持有81家高端酒店，总客房数约4.34万间，是全球知名的酒店不动产投资机构。
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。
HST vs RUN — 直观对比
营收规模更大
HST
是对方的1.4倍
$1.2B
营收增速更快
RUN
高出111.2%
12.3%
净利率更高
RUN
高出0.5%
8.4%
两年增速更快
RUN
近两年复合增速
4.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.6B | $1.2B |
| 净利润 | $135.0M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 12.0% | 8.4% |
| 净利率 | 8.4% | 8.9% |
| 营收同比 | 12.3% | 123.5% |
| 净利润同比 | 25.0% | 103.7% |
| 每股收益（稀释后） | $0.20 | $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HSTRUN
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.3B | $724.6M | ||
| Q2 25 | $1.6B | $569.3M | ||
| Q1 25 | $1.6B | $504.3M | ||
| Q4 24 | $1.4B | $518.5M | ||
| Q3 24 | $1.3B | $537.2M | ||
| Q2 24 | $1.5B | $523.9M | ||
| Q1 24 | $1.5B | $458.2M |
净利润HSTRUN
| Q4 25 | $135.0M | $103.6M | ||
| Q3 25 | $161.0M | $16.6M | ||
| Q2 25 | $221.0M | $279.8M | ||
| Q1 25 | $248.0M | $50.0M | ||
| Q4 24 | $108.0M | $-2.8B | ||
| Q3 24 | $82.0M | $-83.8M | ||
| Q2 24 | $239.0M | $139.1M | ||
| Q1 24 | $268.0M | $-87.8M |
营业利润率HSTRUN
| Q4 25 | 12.0% | 8.4% | ||
| Q3 25 | 7.6% | 0.5% | ||
| Q2 25 | 17.5% | -19.7% | ||
| Q1 25 | 17.9% | -22.8% | ||
| Q4 24 | 11.0% | -628.0% | ||
| Q3 24 | 10.2% | -23.8% | ||
| Q2 24 | 19.9% | -24.4% | ||
| Q1 24 | 19.8% | -40.0% |
净利率HSTRUN
| Q4 25 | 8.4% | 8.9% | ||
| Q3 25 | 12.1% | 2.3% | ||
| Q2 25 | 13.9% | 49.1% | ||
| Q1 25 | 15.6% | 9.9% | ||
| Q4 24 | 7.6% | -542.7% | ||
| Q3 24 | 6.2% | -15.6% | ||
| Q2 24 | 16.3% | 26.5% | ||
| Q1 24 | 18.2% | -19.2% |
每股收益（稀释后）HSTRUN
| Q4 25 | $0.20 | $0.38 | ||
| Q3 25 | $0.23 | $0.06 | ||
| Q2 25 | $0.32 | $1.07 | ||
| Q1 25 | $0.35 | $0.20 | ||
| Q4 24 | $0.15 | $-12.59 | ||
| Q3 24 | $0.12 | $-0.37 | ||
| Q2 24 | $0.34 | $0.55 | ||
| Q1 24 | $0.38 | $-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 | $768.0M | — |
| 总债务越低越好 | $1.3B | $14.7B |
| 股东权益账面价值 | $6.6B | $3.1B |
| 总资产 | $13.0B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.19× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资HSTRUN
| Q4 25 | $768.0M | — | ||
| Q3 25 | $539.0M | — | ||
| Q2 25 | $490.0M | — | ||
| Q1 25 | $428.0M | — | ||
| Q4 24 | $554.0M | — | ||
| Q3 24 | $564.0M | — | ||
| Q2 24 | $805.0M | — | ||
| Q1 24 | $1.3B | — |
总债务HSTRUN
| Q4 25 | $1.3B | $14.7B | ||
| Q3 25 | — | $14.6B | ||
| Q2 25 | — | $14.0B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | $896.0M | $12.9B | ||
| Q3 24 | — | $12.5B | ||
| Q2 24 | — | $12.0B | ||
| Q1 24 | — | $11.1B |
股东权益HSTRUN
| Q4 25 | $6.6B | $3.1B | ||
| Q3 25 | $6.7B | $3.0B | ||
| Q2 25 | $6.6B | $2.9B | ||
| Q1 25 | $6.7B | $2.6B | ||
| Q4 24 | $6.6B | $2.6B | ||
| Q3 24 | $6.7B | $5.3B | ||
| Q2 24 | $6.8B | $5.4B | ||
| Q1 24 | $6.7B | $5.2B |
总资产HSTRUN
| Q4 25 | $13.0B | $22.6B | ||
| Q3 25 | $13.0B | $22.2B | ||
| Q2 25 | $13.0B | $21.2B | ||
| Q1 25 | $12.9B | $20.4B | ||
| Q4 24 | $13.0B | $19.9B | ||
| Q3 24 | $13.1B | $22.1B | ||
| Q2 24 | $12.4B | $21.4B | ||
| Q1 24 | $12.5B | $20.8B |
负债/权益比HSTRUN
| Q4 25 | 0.19× | 4.69× | ||
| Q3 25 | — | 4.90× | ||
| Q2 25 | — | 4.80× | ||
| Q1 25 | — | 5.19× | ||
| Q4 24 | 0.14× | 5.05× | ||
| Q3 24 | — | 2.36× | ||
| Q2 24 | — | 2.23× | ||
| Q1 24 | — | 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 | $543.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $445.0M | — |
| 自由现金流率自由现金流/营收 | 27.8% | — |
| 资本支出强度资本支出/营收 | 6.1% | — |
| 现金转化率经营现金流/净利润 | 4.02× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流HSTRUN
| Q4 25 | $543.0M | $96.9M | ||
| Q3 25 | $218.0M | $-121.5M | ||
| Q2 25 | $444.0M | $-292.7M | ||
| Q1 25 | $305.0M | $-104.2M | ||
| Q4 24 | $331.0M | $-258.4M | ||
| Q3 24 | $349.0M | $-156.2M | ||
| Q2 24 | $453.0M | $-208.5M | ||
| Q1 24 | $365.0M | $-143.1M |
自由现金流HSTRUN
| Q4 25 | $445.0M | — | ||
| Q3 25 | $143.0M | — | ||
| Q2 25 | $381.0M | — | ||
| Q1 25 | $259.0M | — | ||
| Q4 24 | $235.0M | — | ||
| Q3 24 | $262.0M | $-156.4M | ||
| Q2 24 | $409.0M | — | ||
| Q1 24 | $332.0M | — |
自由现金流率HSTRUN
| Q4 25 | 27.8% | — | ||
| Q3 25 | 10.7% | — | ||
| Q2 25 | 24.0% | — | ||
| Q1 25 | 16.2% | — | ||
| Q4 24 | 16.5% | — | ||
| Q3 24 | 19.9% | -29.1% | ||
| Q2 24 | 27.9% | — | ||
| Q1 24 | 22.6% | — |
资本支出强度HSTRUN
| Q4 25 | 6.1% | — | ||
| Q3 25 | 5.6% | — | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 6.7% | — | ||
| Q3 24 | 6.6% | 0.0% | ||
| Q2 24 | 3.0% | — | ||
| Q1 24 | 2.2% | — |
现金转化率HSTRUN
| Q4 25 | 4.02× | 0.94× | ||
| Q3 25 | 1.35× | -7.33× | ||
| Q2 25 | 2.01× | -1.05× | ||
| Q1 25 | 1.23× | -2.08× | ||
| Q4 24 | 3.06× | — | ||
| Q3 24 | 4.26× | — | ||
| Q2 24 | 1.90× | -1.50× | ||
| Q1 24 | 1.36× | — |
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
HST
暂无分部数据
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
