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因塞特（INCY）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
因塞特的季度营收约是Sunrun Inc.的1.1倍（$1.3B vs $1.2B），因塞特净利率更高（23.8% vs 8.9%，领先14.9%），Sunrun Inc.同比增速更快（123.5% vs 19.8%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 10.4%）
因塞特是总部位于美国特拉华州威尔明顿的跨国制药企业，目前在北美、欧洲及亚洲多地设有生产基地与研发中心，专注于创新药物的研发、生产及商业化，为全球患者提供优质的治疗选择。
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。
INCY vs RUN — 直观对比
营收规模更大
INCY
是对方的1.1倍
$1.2B
营收增速更快
RUN
高出103.7%
19.8%
净利率更高
INCY
高出14.9%
8.9%
两年增速更快
RUN
近两年复合增速
10.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $303.3M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 23.7% | 8.4% |
| 净利率 | 23.8% | 8.9% |
| 营收同比 | 19.8% | 123.5% |
| 净利润同比 | 91.7% | 103.7% |
| 每股收益（稀释后） | $1.47 | $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INCYRUN
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.4B | $724.6M | ||
| Q2 25 | $1.2B | $569.3M | ||
| Q1 25 | $1.1B | $504.3M | ||
| Q4 24 | $1.2B | $518.5M | ||
| Q3 24 | $1.1B | $537.2M | ||
| Q2 24 | $1.0B | $523.9M |
净利润INCYRUN
| Q1 26 | $303.3M | — | ||
| Q4 25 | $299.3M | $103.6M | ||
| Q3 25 | $424.2M | $16.6M | ||
| Q2 25 | $405.0M | $279.8M | ||
| Q1 25 | $158.2M | $50.0M | ||
| Q4 24 | $201.2M | $-2.8B | ||
| Q3 24 | $106.5M | $-83.8M | ||
| Q2 24 | $-444.6M | $139.1M |
毛利率INCYRUN
| Q1 26 | — | — | ||
| Q4 25 | 92.0% | — | ||
| Q3 25 | 92.8% | — | ||
| Q2 25 | 93.5% | — | ||
| Q1 25 | 93.0% | — | ||
| Q4 24 | 92.5% | — | ||
| Q3 24 | 92.4% | — | ||
| Q2 24 | 92.7% | — |
营业利润率INCYRUN
| Q1 26 | 23.7% | — | ||
| Q4 25 | 22.3% | 8.4% | ||
| Q3 25 | 32.5% | 0.5% | ||
| Q2 25 | 43.6% | -19.7% | ||
| Q1 25 | 19.5% | -22.8% | ||
| Q4 24 | 25.6% | -628.0% | ||
| Q3 24 | 12.8% | -23.8% | ||
| Q2 24 | -45.8% | -24.4% |
净利率INCYRUN
| Q1 26 | 23.8% | — | ||
| Q4 25 | 19.9% | 8.9% | ||
| Q3 25 | 31.1% | 2.3% | ||
| Q2 25 | 33.3% | 49.1% | ||
| Q1 25 | 15.0% | 9.9% | ||
| Q4 24 | 17.1% | -542.7% | ||
| Q3 24 | 9.4% | -15.6% | ||
| Q2 24 | -42.6% | 26.5% |
每股收益（稀释后）INCYRUN
| Q1 26 | $1.47 | — | ||
| Q4 25 | $1.46 | $0.38 | ||
| Q3 25 | $2.11 | $0.06 | ||
| Q2 25 | $2.04 | $1.07 | ||
| Q1 25 | $0.80 | $0.20 | ||
| Q4 24 | $0.90 | $-12.59 | ||
| Q3 24 | $0.54 | $-0.37 | ||
| Q2 24 | $-2.04 | $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 | — | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $5.6B | $3.1B |
| 总资产 | $7.3B | $22.6B |
| 负债/权益比越低杠杆越低 | — | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资INCYRUN
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | — | ||
| Q3 25 | $2.5B | — | ||
| Q2 25 | $2.0B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $987.3M | — |
总债务INCYRUN
| Q1 26 | — | — | ||
| 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INCYRUN
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.2B | $3.1B | ||
| Q3 25 | $4.7B | $3.0B | ||
| Q2 25 | $4.2B | $2.9B | ||
| Q1 25 | $3.7B | $2.6B | ||
| Q4 24 | $3.4B | $2.6B | ||
| Q3 24 | $3.2B | $5.3B | ||
| Q2 24 | $3.0B | $5.4B |
总资产INCYRUN
| Q1 26 | $7.3B | — | ||
| Q4 25 | $7.0B | $22.6B | ||
| Q3 25 | $6.3B | $22.2B | ||
| Q2 25 | $5.8B | $21.2B | ||
| Q1 25 | $5.7B | $20.4B | ||
| Q4 24 | $5.4B | $19.9B | ||
| Q3 24 | $5.0B | $22.1B | ||
| Q2 24 | $4.7B | $21.4B |
负债/权益比INCYRUN
| Q1 26 | — | — | ||
| 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INCYRUN
| Q1 26 | — | — | ||
| Q4 25 | $543.3M | $96.9M | ||
| Q3 25 | $559.4M | $-121.5M | ||
| Q2 25 | $44.7M | $-292.7M | ||
| Q1 25 | $266.1M | $-104.2M | ||
| Q4 24 | $381.2M | $-258.4M | ||
| Q3 24 | $310.9M | $-156.2M | ||
| Q2 24 | $-575.6M | $-208.5M |
自由现金流INCYRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-156.4M | ||
| Q2 24 | — | — |
自由现金流率INCYRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -29.1% | ||
| Q2 24 | — | — |
资本支出强度INCYRUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — |
现金转化率INCYRUN
| Q1 26 | — | — | ||
| Q4 25 | 1.82× | 0.94× | ||
| Q3 25 | 1.32× | -7.33× | ||
| Q2 25 | 0.11× | -1.05× | ||
| Q1 25 | 1.68× | -2.08× | ||
| Q4 24 | 1.89× | — | ||
| Q3 24 | 2.92× | — | ||
| Q2 24 | — | -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
INCY
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% |
