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IAC Inc.（IAC）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IAC Inc.的1.8倍（$1.2B vs $646.0M），Sunrun Inc.净利率更高（8.9% vs -11.9%，领先20.8%），Sunrun Inc.同比增速更快（123.5% vs -10.5%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 1.7%）
IAC Inc.是一家美国控股企业，业务覆盖媒体与互联网领域，在全球拥有多个知名品牌。公司前身是1996年成立的HSN Inc.，当时作为家庭购物频道Home Shopping Network和USA电视台的控股主体运营，1999年更名为USA Networks Inc.，2002年将旗下电视业务资产出售给威望迪集团。
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。
IAC vs RUN — 直观对比
营收规模更大
RUN
是对方的1.8倍
$646.0M
营收增速更快
RUN
高出134.0%
-10.5%
净利率更高
RUN
高出20.8%
-11.9%
两年增速更快
RUN
近两年复合增速
1.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $646.0M | $1.2B |
| 净利润 | $-76.8M | $103.6M |
| 毛利率 | 69.8% | — |
| 营业利润率 | -17.5% | 8.4% |
| 净利率 | -11.9% | 8.9% |
| 营收同比 | -10.5% | 123.5% |
| 净利润同比 | 61.4% | 103.7% |
| 每股收益（稀释后） | $-0.96 | $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IACRUN
| Q4 25 | $646.0M | $1.2B | ||
| Q3 25 | $589.8M | $724.6M | ||
| Q2 25 | $586.9M | $569.3M | ||
| Q1 25 | $570.5M | $504.3M | ||
| Q4 24 | $721.4M | $518.5M | ||
| Q3 24 | $642.0M | $537.2M | ||
| Q2 24 | $634.4M | $523.9M | ||
| Q1 24 | $624.3M | $458.2M |
净利润IACRUN
| Q4 25 | $-76.8M | $103.6M | ||
| Q3 25 | $-21.9M | $16.6M | ||
| Q2 25 | $211.5M | $279.8M | ||
| Q1 25 | $-216.8M | $50.0M | ||
| Q4 24 | $-199.0M | $-2.8B | ||
| Q3 24 | $-243.7M | $-83.8M | ||
| Q2 24 | $-142.2M | $139.1M | ||
| Q1 24 | $45.0M | $-87.8M |
毛利率IACRUN
| Q4 25 | 69.8% | — | ||
| Q3 25 | 64.8% | — | ||
| Q2 25 | 65.6% | — | ||
| Q1 25 | 64.0% | — | ||
| Q4 24 | 65.8% | — | ||
| Q3 24 | 62.1% | — | ||
| Q2 24 | 60.1% | — | ||
| Q1 24 | 58.4% | — |
营业利润率IACRUN
| Q4 25 | -17.5% | 8.4% | ||
| Q3 25 | -3.5% | 0.5% | ||
| Q2 25 | 0.1% | -19.7% | ||
| Q1 25 | 6.3% | -22.8% | ||
| Q4 24 | 6.7% | -628.0% | ||
| Q3 24 | 1.3% | -23.8% | ||
| Q2 24 | -3.4% | -24.4% | ||
| Q1 24 | -10.2% | -40.0% |
净利率IACRUN
| Q4 25 | -11.9% | 8.9% | ||
| Q3 25 | -3.7% | 2.3% | ||
| Q2 25 | 36.0% | 49.1% | ||
| Q1 25 | -38.0% | 9.9% | ||
| Q4 24 | -27.6% | -542.7% | ||
| Q3 24 | -38.0% | -15.6% | ||
| Q2 24 | -22.4% | 26.5% | ||
| Q1 24 | 7.2% | -19.2% |
每股收益（稀释后）IACRUN
| Q4 25 | $-0.96 | $0.38 | ||
| Q3 25 | $-0.27 | $0.06 | ||
| Q2 25 | $2.57 | $1.07 | ||
| Q1 25 | $-2.64 | $0.20 | ||
| Q4 24 | $-2.36 | $-12.59 | ||
| Q3 24 | $-2.93 | $-0.37 | ||
| Q2 24 | $-1.71 | $0.55 | ||
| Q1 24 | $0.51 | $-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 | $960.2M | — |
| 总债务越低越好 | $1.4B | $14.7B |
| 股东权益账面价值 | $4.7B | $3.1B |
| 总资产 | $7.1B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.30× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资IACRUN
| Q4 25 | $960.2M | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.4B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
总债务IACRUN
| Q4 25 | $1.4B | $14.7B | ||
| Q3 25 | $1.4B | $14.6B | ||
| Q2 25 | $1.4B | $14.0B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | — | $12.9B | ||
| Q3 24 | — | $12.5B | ||
| Q2 24 | — | $12.0B | ||
| Q1 24 | — | $11.1B |
股东权益IACRUN
| Q4 25 | $4.7B | $3.1B | ||
| Q3 25 | $4.8B | $3.0B | ||
| Q2 25 | $4.9B | $2.9B | ||
| Q1 25 | $4.7B | $2.6B | ||
| Q4 24 | $5.6B | $2.6B | ||
| Q3 24 | $5.8B | $5.3B | ||
| Q2 24 | $6.0B | $5.4B | ||
| Q1 24 | $6.1B | $5.2B |
总资产IACRUN
| Q4 25 | $7.1B | $22.6B | ||
| Q3 25 | $7.2B | $22.2B | ||
| Q2 25 | $7.4B | $21.2B | ||
| Q1 25 | $7.2B | $20.4B | ||
| Q4 24 | $9.7B | $19.9B | ||
| Q3 24 | $9.8B | $22.1B | ||
| Q2 24 | $10.2B | $21.4B | ||
| Q1 24 | $10.4B | $20.8B |
负债/权益比IACRUN
| Q4 25 | 0.30× | 4.69× | ||
| Q3 25 | 0.30× | 4.90× | ||
| Q2 25 | 0.30× | 4.80× | ||
| Q1 25 | — | 5.19× | ||
| Q4 24 | — | 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 | $36.6M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $31.4M | — |
| 自由现金流率自由现金流/营收 | 4.9% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 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 | $44.8M | — |
8季度趋势，按日历期对齐
经营现金流IACRUN
| Q4 25 | $36.6M | $96.9M | ||
| Q3 25 | $30.1M | $-121.5M | ||
| Q2 25 | $-2.8M | $-292.7M | ||
| Q1 25 | $63.0K | $-104.2M | ||
| Q4 24 | $110.1M | $-258.4M | ||
| Q3 24 | $95.3M | $-156.2M | ||
| Q2 24 | $85.0M | $-208.5M | ||
| Q1 24 | $64.1M | $-143.1M |
自由现金流IACRUN
| Q4 25 | $31.4M | — | ||
| Q3 25 | $25.3M | — | ||
| Q2 25 | $-7.2M | — | ||
| Q1 25 | $-4.6M | — | ||
| Q4 24 | $104.8M | — | ||
| Q3 24 | $92.0M | $-156.4M | ||
| Q2 24 | $81.6M | — | ||
| Q1 24 | $61.1M | — |
自由现金流率IACRUN
| Q4 25 | 4.9% | — | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | -1.2% | — | ||
| Q1 25 | -0.8% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 14.3% | -29.1% | ||
| Q2 24 | 12.9% | — | ||
| Q1 24 | 9.8% | — |
资本支出强度IACRUN
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 0.5% | 0.0% | ||
| Q2 24 | 0.5% | — | ||
| Q1 24 | 0.5% | — |
现金转化率IACRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | -0.01× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | 1.42× | — |
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
IAC
| $168.5M | 26% | |
| Performance Marketing | $101.2M | 16% |
| Care.com | $85.7M | 13% |
| Subscription | $69.5M | 11% |
| Licensing And Other | $43.8M | 7% |
| Consumer Revenue | $43.2M | 7% |
| Advertising | $35.9M | 6% |
| Project And Other Print | $33.6M | 5% |
| Advertising Google | $28.9M | 4% |
| Newsstand | $22.4M | 3% |
| Emerging Other | $19.6M | 3% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
