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Invitation Homes（INVH）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Invitation Homes的1.7倍（$1.2B vs $685.3M），Invitation Homes净利率更高（21.1% vs 8.9%，领先12.2%），Sunrun Inc.同比增速更快（123.5% vs 4.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 3.0%）
Invitation Homes是纽交所上市企业，总部位于美国得克萨斯州达拉斯市林肯中心大厦，由Dallas B. Tanner出任首席执行官。截至2024年7月，公司在全美16个市场持有约8.4万套独栋出租住宅，是美国规模最大的独栋住宅租赁业主，17%的租金收入来自加利福尼亚州。
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。
INVH vs RUN — 直观对比
营收规模更大
RUN
是对方的1.7倍
$685.3M
营收增速更快
RUN
高出119.5%
4.0%
净利率更高
INVH
高出12.2%
8.9%
两年增速更快
RUN
近两年复合增速
3.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $685.3M | $1.2B |
| 净利润 | $144.6M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | — | 8.4% |
| 净利率 | 21.1% | 8.9% |
| 营收同比 | 4.0% | 123.5% |
| 净利润同比 | 1.0% | 103.7% |
| 每股收益（稀释后） | $0.24 | $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INVHRUN
| Q4 25 | $685.3M | $1.2B | ||
| Q3 25 | $688.2M | $724.6M | ||
| Q2 25 | $681.4M | $569.3M | ||
| Q1 25 | $674.5M | $504.3M | ||
| Q4 24 | $659.1M | $518.5M | ||
| Q3 24 | $660.3M | $537.2M | ||
| Q2 24 | $653.5M | $523.9M | ||
| Q1 24 | $646.0M | $458.2M |
净利润INVHRUN
| Q4 25 | $144.6M | $103.6M | ||
| Q3 25 | $136.7M | $16.6M | ||
| Q2 25 | $140.9M | $279.8M | ||
| Q1 25 | $165.7M | $50.0M | ||
| Q4 24 | $143.1M | $-2.8B | ||
| Q3 24 | $95.3M | $-83.8M | ||
| Q2 24 | $73.2M | $139.1M | ||
| Q1 24 | $142.3M | $-87.8M |
营业利润率INVHRUN
| 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% | ||
| Q1 24 | — | -40.0% |
净利率INVHRUN
| Q4 25 | 21.1% | 8.9% | ||
| Q3 25 | 19.9% | 2.3% | ||
| Q2 25 | 20.7% | 49.1% | ||
| Q1 25 | 24.6% | 9.9% | ||
| Q4 24 | 21.7% | -542.7% | ||
| Q3 24 | 14.4% | -15.6% | ||
| Q2 24 | 11.2% | 26.5% | ||
| Q1 24 | 22.0% | -19.2% |
每股收益（稀释后）INVHRUN
| Q4 25 | $0.24 | $0.38 | ||
| Q3 25 | $0.22 | $0.06 | ||
| Q2 25 | $0.23 | $1.07 | ||
| Q1 25 | $0.27 | $0.20 | ||
| Q4 24 | $0.24 | $-12.59 | ||
| Q3 24 | $0.15 | $-0.37 | ||
| Q2 24 | $0.12 | $0.55 | ||
| Q1 24 | $0.23 | $-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 | $130.0M | — |
| 总债务越低越好 | $8.4B | $14.7B |
| 股东权益账面价值 | $9.5B | $3.1B |
| 总资产 | $18.7B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.88× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资INVHRUN
| Q4 25 | $130.0M | — | ||
| Q3 25 | $155.4M | — | ||
| Q2 25 | $65.1M | — | ||
| Q1 25 | $84.4M | — | ||
| Q4 24 | $174.5M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $749.4M | — | ||
| Q1 24 | $738.1M | — |
总债务INVHRUN
| Q4 25 | $8.4B | $14.7B | ||
| Q3 25 | $8.2B | $14.6B | ||
| Q2 25 | $8.2B | $14.0B | ||
| Q1 25 | $8.1B | $13.6B | ||
| Q4 24 | $8.2B | $12.9B | ||
| Q3 24 | $9.0B | $12.5B | ||
| Q2 24 | $8.5B | $12.0B | ||
| Q1 24 | $8.5B | $11.1B |
股东权益INVHRUN
| Q4 25 | $9.5B | $3.1B | ||
| Q3 25 | $9.6B | $3.0B | ||
| Q2 25 | $9.7B | $2.9B | ||
| Q1 25 | $9.7B | $2.6B | ||
| Q4 24 | $9.8B | $2.6B | ||
| Q3 24 | $9.9B | $5.3B | ||
| Q2 24 | $10.0B | $5.4B | ||
| Q1 24 | $10.1B | $5.2B |
总资产INVHRUN
| Q4 25 | $18.7B | $22.6B | ||
| Q3 25 | $18.8B | $22.2B | ||
| Q2 25 | $18.7B | $21.2B | ||
| Q1 25 | $18.6B | $20.4B | ||
| Q4 24 | $18.7B | $19.9B | ||
| Q3 24 | $19.6B | $22.1B | ||
| Q2 24 | $19.2B | $21.4B | ||
| Q1 24 | $19.2B | $20.8B |
负债/权益比INVHRUN
| Q4 25 | 0.88× | 4.69× | ||
| Q3 25 | 0.86× | 4.90× | ||
| Q2 25 | 0.85× | 4.80× | ||
| Q1 25 | 0.83× | 5.19× | ||
| Q4 24 | 0.84× | 5.05× | ||
| Q3 24 | 0.91× | 2.36× | ||
| Q2 24 | 0.85× | 2.23× | ||
| Q1 24 | 0.84× | 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 | $128.7M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $122.4M | — |
| 自由现金流率自由现金流/营收 | 17.9% | — |
| 资本支出强度资本支出/营收 | 0.9% | — |
| 现金转化率经营现金流/净利润 | 0.89× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $1.2B | — |
8季度趋势，按日历期对齐
经营现金流INVHRUN
| Q4 25 | $128.7M | $96.9M | ||
| Q3 25 | $394.6M | $-121.5M | ||
| Q2 25 | $382.5M | $-292.7M | ||
| Q1 25 | $300.5M | $-104.2M | ||
| Q4 24 | $132.8M | $-258.4M | ||
| Q3 24 | $313.6M | $-156.2M | ||
| Q2 24 | $369.8M | $-208.5M | ||
| Q1 24 | $265.6M | $-143.1M |
自由现金流INVHRUN
| Q4 25 | $122.4M | — | ||
| Q3 25 | $387.8M | — | ||
| Q2 25 | $374.4M | — | ||
| Q1 25 | $293.3M | — | ||
| Q4 24 | $125.0M | — | ||
| Q3 24 | $305.2M | $-156.4M | ||
| Q2 24 | $363.8M | — | ||
| Q1 24 | $257.1M | — |
自由现金流率INVHRUN
| Q4 25 | 17.9% | — | ||
| Q3 25 | 56.4% | — | ||
| Q2 25 | 54.9% | — | ||
| Q1 25 | 43.5% | — | ||
| Q4 24 | 19.0% | — | ||
| Q3 24 | 46.2% | -29.1% | ||
| Q2 24 | 55.7% | — | ||
| Q1 24 | 39.8% | — |
资本支出强度INVHRUN
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.0% | — | ||
| Q2 25 | 1.2% | — | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 1.2% | — | ||
| Q3 24 | 1.3% | 0.0% | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 1.3% | — |
现金转化率INVHRUN
| Q4 25 | 0.89× | 0.94× | ||
| Q3 25 | 2.89× | -7.33× | ||
| Q2 25 | 2.71× | -1.05× | ||
| Q1 25 | 1.81× | -2.08× | ||
| Q4 24 | 0.93× | — | ||
| Q3 24 | 3.29× | — | ||
| Q2 24 | 5.05× | -1.50× | ||
| Q1 24 | 1.87× | — |
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
INVH
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% |
