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盈透证券（IBKR）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
盈透证券的季度营收约是Sunrun Inc.的1.4倍（$1.7B vs $1.2B），盈透证券净利率更高（70.2% vs 8.9%，领先61.2%），Sunrun Inc.同比增速更快（123.5% vs 17.0%），过去两年盈透证券的营收复合增速更高（87.6% vs 59.0%）
盈透证券集团是总部位于美国康涅狄格州格林威治的跨国经纪机构，运营着美国日均营收交易量最高的电子交易平台，2024年日均处理交易达260万笔。作为全球最大的外汇市场经纪商，同时也是头部主经纪商之一，服务商品经纪机构，可提供股票、期权、期货等多品类资产的经纪服务。
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。
IBKR vs RUN — 直观对比
营收规模更大
IBKR
是对方的1.4倍
$1.2B
营收增速更快
RUN
高出106.5%
17.0%
净利率更高
IBKR
高出61.2%
8.9%
两年增速更快
IBKR
近两年复合增速
59.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $1.2B | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | — | 8.4% |
| 净利率 | 70.2% | 8.9% |
| 营收同比 | 17.0% | 123.5% |
| 净利润同比 | 21.5% | 103.7% |
| 每股收益（稀释后） | $0.59 | $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IBKRRUN
| Q1 26 | $1.7B | — | ||
| Q4 25 | $667.0M | $1.2B | ||
| Q3 25 | $603.0M | $724.6M | ||
| Q2 25 | $578.0M | $569.3M | ||
| Q1 25 | $592.0M | $504.3M | ||
| Q4 24 | $558.0M | $518.5M | ||
| Q3 24 | $507.0M | $537.2M | ||
| Q2 24 | $474.0M | $523.9M |
净利润IBKRRUN
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.2B | $103.6M | ||
| Q3 25 | $1.2B | $16.6M | ||
| Q2 25 | $1.0B | $279.8M | ||
| Q1 25 | $964.0M | $50.0M | ||
| Q4 24 | $969.0M | $-2.8B | ||
| Q3 24 | $834.0M | $-83.8M | ||
| Q2 24 | $809.0M | $139.1M |
营业利润率IBKRRUN
| Q1 26 | — | — | ||
| Q4 25 | — | 8.4% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | -19.7% | ||
| Q1 25 | — | -22.8% | ||
| Q4 24 | — | -628.0% | ||
| Q3 24 | — | -23.8% | ||
| Q2 24 | — | -24.4% |
净利率IBKRRUN
| Q1 26 | 70.2% | — | ||
| Q4 25 | 180.1% | 8.9% | ||
| Q3 25 | 196.7% | 2.3% | ||
| Q2 25 | 174.0% | 49.1% | ||
| Q1 25 | 162.8% | 9.9% | ||
| Q4 24 | 173.7% | -542.7% | ||
| Q3 24 | 164.5% | -15.6% | ||
| Q2 24 | 170.7% | 26.5% |
每股收益（稀释后）IBKRRUN
| Q1 26 | $0.59 | — | ||
| Q4 25 | $-0.82 | $0.38 | ||
| Q3 25 | $0.59 | $0.06 | ||
| Q2 25 | $0.51 | $1.07 | ||
| Q1 25 | $1.94 | $0.20 | ||
| Q4 24 | $2.00 | $-12.59 | ||
| Q3 24 | $1.67 | $-0.37 | ||
| Q2 24 | $1.65 | $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 | $5.1B | — |
| 总债务越低越好 | $12.0M | $14.7B |
| 股东权益账面价值 | $5.6B | $3.1B |
| 总资产 | $218.7B | $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IBKRRUN
| Q1 26 | $5.1B | — | ||
| Q4 25 | $5.0B | — | ||
| Q3 25 | $5.1B | — | ||
| Q2 25 | $4.7B | — | ||
| Q1 25 | $3.5B | — | ||
| Q4 24 | $3.6B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.9B | — |
总债务IBKRRUN
| Q1 26 | $12.0M | — | ||
| 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IBKRRUN
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.4B | $3.1B | ||
| Q3 25 | $5.1B | $3.0B | ||
| Q2 25 | $4.8B | $2.9B | ||
| Q1 25 | $4.5B | $2.6B | ||
| Q4 24 | $4.3B | $2.6B | ||
| Q3 24 | $4.1B | $5.3B | ||
| Q2 24 | $3.9B | $5.4B |
总资产IBKRRUN
| Q1 26 | $218.7B | — | ||
| Q4 25 | $203.2B | $22.6B | ||
| Q3 25 | $200.2B | $22.2B | ||
| Q2 25 | $181.5B | $21.2B | ||
| Q1 25 | $157.7B | $20.4B | ||
| Q4 24 | $150.1B | $19.9B | ||
| Q3 24 | $148.5B | $22.1B | ||
| Q2 24 | $136.6B | $21.4B |
负债/权益比IBKRRUN
| Q1 26 | 0.00× | — | ||
| 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IBKRRUN
| Q1 26 | — | — | ||
| Q4 25 | $1.6B | $96.9M | ||
| Q3 25 | $4.5B | $-121.5M | ||
| Q2 25 | $7.1B | $-292.7M | ||
| Q1 25 | $2.6B | $-104.2M | ||
| Q4 24 | $1.8B | $-258.4M | ||
| Q3 24 | $3.6B | $-156.2M | ||
| Q2 24 | $1.6B | $-208.5M |
自由现金流IBKRRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-156.4M | ||
| Q2 24 | — | — |
自由现金流率IBKRRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -29.1% | ||
| Q2 24 | — | — |
资本支出强度IBKRRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — |
现金转化率IBKRRUN
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | 0.94× | ||
| Q3 25 | 3.78× | -7.33× | ||
| Q2 25 | 7.10× | -1.05× | ||
| Q1 25 | 2.68× | -2.08× | ||
| Q4 24 | 1.90× | — | ||
| Q3 24 | 4.29× | — | ||
| Q2 24 | 2.00× | -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
IBKR
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% |
