vs
Idexx Laboratories（IDXX）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Idexx Laboratories的1.1倍（$1.2B vs $1.1B），Idexx Laboratories净利率更高（22.8% vs 8.9%，领先13.8%），Sunrun Inc.同比增速更快（123.5% vs 14.3%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 6.4%）
IDEXX Laboratories是1983年成立的美国跨国企业，主营伴侣动物诊疗、畜禽养殖、水质检测、乳制品领域相关产品与服务的研发、生产及分销，总部位于缅因州韦斯特布鲁克，欧洲、中东及非洲地区分部设于荷兰霍夫多普。
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。
IDXX vs RUN — 直观对比
营收规模更大
RUN
是对方的1.1倍
$1.1B
营收增速更快
RUN
高出109.2%
14.3%
净利率更高
IDXX
高出13.8%
8.9%
两年增速更快
RUN
近两年复合增速
6.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $248.2M | $103.6M |
| 毛利率 | 60.3% | — |
| 营业利润率 | 28.9% | 8.4% |
| 净利率 | 22.8% | 8.9% |
| 营收同比 | 14.3% | 123.5% |
| 净利润同比 | 14.8% | 103.7% |
| 每股收益（稀释后） | $3.09 | $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IDXXRUN
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $724.6M | ||
| Q2 25 | $1.1B | $569.3M | ||
| Q1 25 | $998.4M | $504.3M | ||
| Q4 24 | $954.3M | $518.5M | ||
| Q3 24 | $975.5M | $537.2M | ||
| Q2 24 | $1.0B | $523.9M | ||
| Q1 24 | $964.1M | $458.2M |
净利润IDXXRUN
| Q4 25 | $248.2M | $103.6M | ||
| Q3 25 | $274.6M | $16.6M | ||
| Q2 25 | $294.0M | $279.8M | ||
| Q1 25 | $242.7M | $50.0M | ||
| Q4 24 | $216.1M | $-2.8B | ||
| Q3 24 | $232.8M | $-83.8M | ||
| Q2 24 | $203.3M | $139.1M | ||
| Q1 24 | $235.6M | $-87.8M |
毛利率IDXXRUN
| Q4 25 | 60.3% | — | ||
| Q3 25 | 61.8% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.4% | — | ||
| Q4 24 | 59.8% | — | ||
| Q3 24 | 61.1% | — | ||
| Q2 24 | 61.7% | — | ||
| Q1 24 | 61.5% | — |
营业利润率IDXXRUN
| Q4 25 | 28.9% | 8.4% | ||
| Q3 25 | 32.1% | 0.5% | ||
| Q2 25 | 33.6% | -19.7% | ||
| Q1 25 | 31.7% | -22.8% | ||
| Q4 24 | 27.4% | -628.0% | ||
| Q3 24 | 31.2% | -23.8% | ||
| Q2 24 | 26.3% | -24.4% | ||
| Q1 24 | 31.0% | -40.0% |
净利率IDXXRUN
| Q4 25 | 22.8% | 8.9% | ||
| Q3 25 | 24.8% | 2.3% | ||
| Q2 25 | 26.5% | 49.1% | ||
| Q1 25 | 24.3% | 9.9% | ||
| Q4 24 | 22.7% | -542.7% | ||
| Q3 24 | 23.9% | -15.6% | ||
| Q2 24 | 20.3% | 26.5% | ||
| Q1 24 | 24.4% | -19.2% |
每股收益（稀释后）IDXXRUN
| Q4 25 | $3.09 | $0.38 | ||
| Q3 25 | $3.40 | $0.06 | ||
| Q2 25 | $3.63 | $1.07 | ||
| Q1 25 | $2.96 | $0.20 | ||
| Q4 24 | $2.62 | $-12.59 | ||
| Q3 24 | $2.80 | $-0.37 | ||
| Q2 24 | $2.44 | $0.55 | ||
| Q1 24 | $2.81 | $-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 | $180.1M | — |
| 总债务越低越好 | $450.0M | $14.7B |
| 股东权益账面价值 | $1.6B | $3.1B |
| 总资产 | $3.4B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.28× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资IDXXRUN
| Q4 25 | $180.1M | — | ||
| Q3 25 | $208.2M | — | ||
| Q2 25 | $164.6M | — | ||
| Q1 25 | $164.0M | — | ||
| Q4 24 | $288.3M | — | ||
| Q3 24 | $308.6M | — | ||
| Q2 24 | $401.6M | — | ||
| Q1 24 | $397.4M | — |
总债务IDXXRUN
| Q4 25 | $450.0M | $14.7B | ||
| Q3 25 | — | $14.6B | ||
| Q2 25 | — | $14.0B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | $617.8M | $12.9B | ||
| Q3 24 | — | $12.5B | ||
| Q2 24 | — | $12.0B | ||
| Q1 24 | — | $11.1B |
股东权益IDXXRUN
| Q4 25 | $1.6B | $3.1B | ||
| Q3 25 | $1.6B | $3.0B | ||
| Q2 25 | $1.5B | $2.9B | ||
| Q1 25 | $1.4B | $2.6B | ||
| Q4 24 | $1.6B | $2.6B | ||
| Q3 24 | $1.6B | $5.3B | ||
| Q2 24 | $1.6B | $5.4B | ||
| Q1 24 | $1.6B | $5.2B |
总资产IDXXRUN
| Q4 25 | $3.4B | $22.6B | ||
| Q3 25 | $3.4B | $22.2B | ||
| Q2 25 | $3.3B | $21.2B | ||
| Q1 25 | $3.2B | $20.4B | ||
| Q4 24 | $3.3B | $19.9B | ||
| Q3 24 | $3.4B | $22.1B | ||
| Q2 24 | $3.4B | $21.4B | ||
| Q1 24 | $3.4B | $20.8B |
负债/权益比IDXXRUN
| Q4 25 | 0.28× | 4.69× | ||
| Q3 25 | — | 4.90× | ||
| Q2 25 | — | 4.80× | ||
| Q1 25 | — | 5.19× | ||
| Q4 24 | 0.39× | 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 | $355.8M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $326.3M | — |
| 自由现金流率自由现金流/营收 | 29.9% | — |
| 资本支出强度资本支出/营收 | 2.7% | — |
| 现金转化率经营现金流/净利润 | 1.43× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $1.1B | — |
8季度趋势，按日历期对齐
经营现金流IDXXRUN
| Q4 25 | $355.8M | $96.9M | ||
| Q3 25 | $402.3M | $-121.5M | ||
| Q2 25 | $185.7M | $-292.7M | ||
| Q1 25 | $238.0M | $-104.2M | ||
| Q4 24 | $262.0M | $-258.4M | ||
| Q3 24 | $220.1M | $-156.2M | ||
| Q2 24 | $248.3M | $-208.5M | ||
| Q1 24 | $198.6M | $-143.1M |
自由现金流IDXXRUN
| Q4 25 | $326.3M | — | ||
| Q3 25 | $371.2M | — | ||
| Q2 25 | $151.6M | — | ||
| Q1 25 | $207.9M | — | ||
| Q4 24 | $232.8M | — | ||
| Q3 24 | $192.0M | $-156.4M | ||
| Q2 24 | $215.0M | — | ||
| Q1 24 | $168.3M | — |
自由现金流率IDXXRUN
| Q4 25 | 29.9% | — | ||
| Q3 25 | 33.6% | — | ||
| Q2 25 | 13.7% | — | ||
| Q1 25 | 20.8% | — | ||
| Q4 24 | 24.4% | — | ||
| Q3 24 | 19.7% | -29.1% | ||
| Q2 24 | 21.4% | — | ||
| Q1 24 | 17.5% | — |
资本支出强度IDXXRUN
| Q4 25 | 2.7% | — | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 3.0% | — | ||
| Q4 24 | 3.1% | — | ||
| Q3 24 | 2.9% | 0.0% | ||
| Q2 24 | 3.3% | — | ||
| Q1 24 | 3.1% | — |
现金转化率IDXXRUN
| Q4 25 | 1.43× | 0.94× | ||
| Q3 25 | 1.47× | -7.33× | ||
| Q2 25 | 0.63× | -1.05× | ||
| Q1 25 | 0.98× | -2.08× | ||
| Q4 24 | 1.21× | — | ||
| Q3 24 | 0.95× | — | ||
| Q2 24 | 1.22× | -1.50× | ||
| Q1 24 | 0.84× | — |
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
IDXX
| Vet Lab Consumables | $389.0M | 36% |
| Reference Laboratory Diagnostic And Consulting Services | $349.2M | 32% |
| Rapid Assay Products | $76.0M | 7% |
| Recurring Revenue | $70.6M | 6% |
| CAG Diagnostic Capital Instruments | $58.1M | 5% |
| Water Segment | $50.5M | 5% |
| Livestock And Poultry Diagnostics Segment | $37.5M | 3% |
| CAG Diagnostics Service And Accessories | $35.3M | 3% |
| Systems And Hardware | $20.1M | 2% |
| Rebate And Up Front Considerations Arrangements | $2.4M | 0% |
| Extended Warranties And Post Contract Support Revenue | $1.0M | 0% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
