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宜瑞安（INGR）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
宜瑞安的季度营收约是Sunrun Inc.的1.5倍（$1.8B vs $1.2B），宜瑞安净利率更高（9.5% vs 8.9%，领先0.6%），Sunrun Inc.同比增速更快（123.5% vs -2.4%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -3.4%）
宜瑞安（Ingredion Inc.）是总部位于美国伊利诺伊州的食品饮料配料供应商，主打产品包括淀粉、非转基因甜味剂、甜菊糖、豌豆蛋白等，以玉米、木薯、马铃薯、谷物、果蔬等为原料，产品供应食品、饮料、酿造、制药等多个行业，在全球44个站点拥有约1.2万名员工，客户覆盖超120个国家。
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。
INGR vs RUN — 直观对比
营收规模更大
INGR
是对方的1.5倍
$1.2B
营收增速更快
RUN
高出125.9%
-2.4%
净利率更高
INGR
高出0.6%
8.9%
两年增速更快
RUN
近两年复合增速
-3.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.8B | $1.2B |
| 净利润 | $167.0M | $103.6M |
| 毛利率 | 24.5% | — |
| 营业利润率 | 12.5% | 8.4% |
| 净利率 | 9.5% | 8.9% |
| 营收同比 | -2.4% | 123.5% |
| 净利润同比 | 72.2% | 103.7% |
| 每股收益（稀释后） | $2.58 | $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INGRRUN
| Q4 25 | $1.8B | $1.2B | ||
| Q3 25 | $1.8B | $724.6M | ||
| Q2 25 | $1.8B | $569.3M | ||
| Q1 25 | $1.8B | $504.3M | ||
| Q4 24 | $1.8B | $518.5M | ||
| Q3 24 | $1.9B | $537.2M | ||
| Q2 24 | $1.9B | $523.9M | ||
| Q1 24 | $1.9B | $458.2M |
净利润INGRRUN
| Q4 25 | $167.0M | $103.6M | ||
| Q3 25 | $171.0M | $16.6M | ||
| Q2 25 | $196.0M | $279.8M | ||
| Q1 25 | $197.0M | $50.0M | ||
| Q4 24 | $97.0M | $-2.8B | ||
| Q3 24 | $188.0M | $-83.8M | ||
| Q2 24 | $148.0M | $139.1M | ||
| Q1 24 | $216.0M | $-87.8M |
毛利率INGRRUN
| Q4 25 | 24.5% | — | ||
| Q3 25 | 25.1% | — | ||
| Q2 25 | 26.0% | — | ||
| Q1 25 | 25.7% | — | ||
| Q4 24 | 24.9% | — | ||
| Q3 24 | 25.6% | — | ||
| Q2 24 | 23.7% | — | ||
| Q1 24 | 22.2% | — |
营业利润率INGRRUN
| Q4 25 | 12.5% | 8.4% | ||
| Q3 25 | 13.7% | 0.5% | ||
| Q2 25 | 14.8% | -19.7% | ||
| Q1 25 | 15.2% | -22.8% | ||
| Q4 24 | 9.0% | -628.0% | ||
| Q3 24 | 14.3% | -23.8% | ||
| Q2 24 | 12.8% | -24.4% | ||
| Q1 24 | 11.3% | -40.0% |
净利率INGRRUN
| Q4 25 | 9.5% | 8.9% | ||
| Q3 25 | 9.4% | 2.3% | ||
| Q2 25 | 10.7% | 49.1% | ||
| Q1 25 | 10.9% | 9.9% | ||
| Q4 24 | 5.4% | -542.7% | ||
| Q3 24 | 10.1% | -15.6% | ||
| Q2 24 | 7.9% | 26.5% | ||
| Q1 24 | 11.5% | -19.2% |
每股收益（稀释后）INGRRUN
| Q4 25 | $2.58 | $0.38 | ||
| Q3 25 | $2.61 | $0.06 | ||
| Q2 25 | $2.99 | $1.07 | ||
| Q1 25 | $3.00 | $0.20 | ||
| Q4 24 | $1.43 | $-12.59 | ||
| Q3 24 | $2.83 | $-0.37 | ||
| Q2 24 | $2.22 | $0.55 | ||
| Q1 24 | $3.23 | $-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 | $1.0B | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $4.3B | $3.1B |
| 总资产 | $7.9B | $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INGRRUN
| Q4 25 | $1.0B | — | ||
| Q3 25 | $915.0M | — | ||
| Q2 25 | $861.0M | — | ||
| Q1 25 | $837.0M | — | ||
| Q4 24 | $997.0M | — | ||
| Q3 24 | $877.0M | — | ||
| Q2 24 | $505.0M | — | ||
| Q1 24 | $438.0M | — |
总债务INGRRUN
| 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 | ||
| Q1 24 | — | $11.1B |
股东权益INGRRUN
| Q4 25 | $4.3B | $3.1B | ||
| Q3 25 | $4.2B | $3.0B | ||
| Q2 25 | $4.2B | $2.9B | ||
| Q1 25 | $4.0B | $2.6B | ||
| Q4 24 | $3.8B | $2.6B | ||
| Q3 24 | $4.0B | $5.3B | ||
| Q2 24 | $3.7B | $5.4B | ||
| Q1 24 | $3.7B | $5.2B |
总资产INGRRUN
| Q4 25 | $7.9B | $22.6B | ||
| Q3 25 | $7.8B | $22.2B | ||
| Q2 25 | $7.8B | $21.2B | ||
| Q1 25 | $7.5B | $20.4B | ||
| Q4 24 | $7.4B | $19.9B | ||
| Q3 24 | $7.5B | $22.1B | ||
| Q2 24 | $7.2B | $21.4B | ||
| Q1 24 | $7.3B | $20.8B |
负债/权益比INGRRUN
| 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× | ||
| 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 | $405.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $270.0M | — |
| 自由现金流率自由现金流/营收 | 15.4% | — |
| 资本支出强度资本支出/营收 | 7.7% | — |
| 现金转化率经营现金流/净利润 | 2.43× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $511.0M | — |
8季度趋势，按日历期对齐
经营现金流INGRRUN
| Q4 25 | $405.0M | $96.9M | ||
| Q3 25 | $277.0M | $-121.5M | ||
| Q2 25 | $185.0M | $-292.7M | ||
| Q1 25 | $77.0M | $-104.2M | ||
| Q4 24 | $436.0M | $-258.4M | ||
| Q3 24 | $479.0M | $-156.2M | ||
| Q2 24 | $312.0M | $-208.5M | ||
| Q1 24 | $209.0M | $-143.1M |
自由现金流INGRRUN
| Q4 25 | $270.0M | — | ||
| Q3 25 | $172.0M | — | ||
| Q2 25 | $84.0M | — | ||
| Q1 25 | $-15.0M | — | ||
| Q4 24 | $311.0M | — | ||
| Q3 24 | $429.0M | $-156.4M | ||
| Q2 24 | $257.0M | — | ||
| Q1 24 | $144.0M | — |
自由现金流率INGRRUN
| Q4 25 | 15.4% | — | ||
| Q3 25 | 9.5% | — | ||
| Q2 25 | 4.6% | — | ||
| Q1 25 | -0.8% | — | ||
| Q4 24 | 17.3% | — | ||
| Q3 24 | 22.9% | -29.1% | ||
| Q2 24 | 13.7% | — | ||
| Q1 24 | 7.7% | — |
资本支出强度INGRRUN
| Q4 25 | 7.7% | — | ||
| Q3 25 | 5.8% | — | ||
| Q2 25 | 5.5% | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | 6.9% | — | ||
| Q3 24 | 2.7% | 0.0% | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 3.5% | — |
现金转化率INGRRUN
| Q4 25 | 2.43× | 0.94× | ||
| Q3 25 | 1.62× | -7.33× | ||
| Q2 25 | 0.94× | -1.05× | ||
| Q1 25 | 0.39× | -2.08× | ||
| Q4 24 | 4.49× | — | ||
| Q3 24 | 2.55× | — | ||
| Q2 24 | 2.11× | -1.50× | ||
| Q1 24 | 0.97× | — |
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
INGR
| Food And Industrial Ingredients LATAM Segment | $599.0M | 34% |
| Texture And Healthful Solutions Segment | $598.0M | 34% |
| Food And Industrial Ingredients U.S.Canada Segment | $486.0M | 28% |
| Other | $74.0M | 4% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
