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Jefferies Financial Group Inc.（JEF）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
Jefferies Financial Group Inc.的季度营收约是Sunrun Inc.的1.4倍（$1.7B vs $1.2B），Jefferies Financial Group Inc.净利率更高（12.6% vs 8.9%，领先3.7%）
杰富瑞金融集团是总部位于美国纽约的金融服务企业，在纽约证券交易所挂牌上市，同时位列财富1000强榜单，为全球客户提供专业的金融相关服务。
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。
JEF vs RUN — 直观对比
营收规模更大
JEF
是对方的1.4倍
$1.2B
净利率更高
JEF
高出3.7%
8.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.7B | $1.2B |
| 净利润 | $211.3M | $103.6M |
| 毛利率 | 95.7% | — |
| 营业利润率 | 15.2% | 8.4% |
| 净利率 | 12.6% | 8.9% |
| 营收同比 | — | 123.5% |
| 净利润同比 | — | 103.7% |
| 每股收益（稀释后） | $0.85 | $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JEFRUN
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.5B | $724.6M | ||
| Q2 25 | $1.2B | $569.3M | ||
| Q1 25 | $1.1B | $504.3M | ||
| Q4 24 | — | $518.5M | ||
| Q3 24 | $1.2B | $537.2M | ||
| Q2 24 | $1.0B | $523.9M | ||
| Q1 24 | $971.2M | $458.2M |
净利润JEFRUN
| Q4 25 | $211.3M | $103.6M | ||
| Q3 25 | $242.5M | $16.6M | ||
| Q2 25 | $91.4M | $279.8M | ||
| Q1 25 | $136.8M | $50.0M | ||
| Q4 24 | — | $-2.8B | ||
| Q3 24 | $181.0M | $-83.8M | ||
| Q2 24 | $154.7M | $139.1M | ||
| Q1 24 | $156.4M | $-87.8M |
毛利率JEFRUN
| Q4 25 | 95.7% | — | ||
| Q3 25 | 97.7% | — | ||
| Q2 25 | 96.5% | — | ||
| Q1 25 | 96.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 96.9% | — | ||
| Q2 24 | 96.4% | — | ||
| Q1 24 | 96.4% | — |
营业利润率JEFRUN
| Q4 25 | 15.2% | 8.4% | ||
| Q3 25 | 22.1% | 0.5% | ||
| Q2 25 | 11.0% | -19.7% | ||
| Q1 25 | 13.2% | -22.8% | ||
| Q4 24 | — | -628.0% | ||
| Q3 24 | 20.7% | -23.8% | ||
| Q2 24 | 22.0% | -24.4% | ||
| Q1 24 | 22.7% | -40.0% |
净利率JEFRUN
| Q4 25 | 12.6% | 8.9% | ||
| Q3 25 | 16.1% | 2.3% | ||
| Q2 25 | 7.4% | 49.1% | ||
| Q1 25 | 12.0% | 9.9% | ||
| Q4 24 | — | -542.7% | ||
| Q3 24 | 14.8% | -15.6% | ||
| Q2 24 | 14.9% | 26.5% | ||
| Q1 24 | 16.1% | -19.2% |
每股收益（稀释后）JEFRUN
| Q4 25 | $0.85 | $0.38 | ||
| Q3 25 | $1.01 | $0.06 | ||
| Q2 25 | $0.40 | $1.07 | ||
| Q1 25 | $0.57 | $0.20 | ||
| Q4 24 | — | $-12.59 | ||
| Q3 24 | $0.75 | $-0.37 | ||
| Q2 24 | $0.64 | $0.55 | ||
| Q1 24 | $0.66 | $-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 | $14.0B | — |
| 总债务越低越好 | $15.9B | $14.7B |
| 股东权益账面价值 | $10.6B | $3.1B |
| 总资产 | $76.0B | $22.6B |
| 负债/权益比越低杠杆越低 | 1.50× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资JEFRUN
| Q4 25 | $14.0B | — | ||
| Q3 25 | $11.5B | — | ||
| Q2 25 | $11.3B | — | ||
| Q1 25 | $11.2B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $10.6B | — | ||
| Q2 24 | $10.8B | — | ||
| Q1 24 | $7.6B | — |
总债务JEFRUN
| Q4 25 | $15.9B | $14.7B | ||
| Q3 25 | $16.0B | $14.6B | ||
| Q2 25 | $15.4B | $14.0B | ||
| Q1 25 | $14.8B | $13.6B | ||
| Q4 24 | — | $12.9B | ||
| Q3 24 | $12.9B | $12.5B | ||
| Q2 24 | $12.7B | $12.0B | ||
| Q1 24 | $9.9B | $11.1B |
股东权益JEFRUN
| Q4 25 | $10.6B | $3.1B | ||
| Q3 25 | $10.4B | $3.0B | ||
| Q2 25 | $10.3B | $2.9B | ||
| Q1 25 | $10.2B | $2.6B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | $10.0B | $5.3B | ||
| Q2 24 | $9.9B | $5.4B | ||
| Q1 24 | $9.8B | $5.2B |
总资产JEFRUN
| Q4 25 | $76.0B | $22.6B | ||
| Q3 25 | $69.3B | $22.2B | ||
| Q2 25 | $67.3B | $21.2B | ||
| Q1 25 | $70.2B | $20.4B | ||
| Q4 24 | — | $19.9B | ||
| Q3 24 | $63.3B | $22.1B | ||
| Q2 24 | $63.0B | $21.4B | ||
| Q1 24 | $60.9B | $20.8B |
负债/权益比JEFRUN
| Q4 25 | 1.50× | 4.69× | ||
| Q3 25 | 1.53× | 4.90× | ||
| Q2 25 | 1.49× | 4.80× | ||
| Q1 25 | 1.45× | 5.19× | ||
| Q4 24 | — | 5.05× | ||
| Q3 24 | 1.29× | 2.36× | ||
| Q2 24 | 1.28× | 2.23× | ||
| Q1 24 | 1.01× | 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 | $2.0B | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $1.9B | — |
| 自由现金流率自由现金流/营收 | 114.2% | — |
| 资本支出强度资本支出/营收 | 3.4% | — |
| 现金转化率经营现金流/净利润 | 9.30× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $-1.7B | — |
8季度趋势，按日历期对齐
经营现金流JEFRUN
| Q4 25 | $2.0B | $96.9M | ||
| Q3 25 | $184.2M | $-121.5M | ||
| Q2 25 | $-978.3M | $-292.7M | ||
| Q1 25 | $-2.7B | $-104.2M | ||
| Q4 24 | — | $-258.4M | ||
| Q3 24 | — | $-156.2M | ||
| Q2 24 | — | $-208.5M | ||
| Q1 24 | $-1.3B | $-143.1M |
自由现金流JEFRUN
| Q4 25 | $1.9B | — | ||
| Q3 25 | $126.0M | — | ||
| Q2 25 | $-1.0B | — | ||
| Q1 25 | $-2.7B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-156.4M | ||
| Q2 24 | — | — | ||
| Q1 24 | $-1.4B | — |
自由现金流率JEFRUN
| Q4 25 | 114.2% | — | ||
| Q3 25 | 8.4% | — | ||
| Q2 25 | -83.3% | — | ||
| Q1 25 | -237.2% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -29.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | -139.4% | — |
资本支出强度JEFRUN
| Q4 25 | 3.4% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 3.6% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | 9.9% | — |
现金转化率JEFRUN
| Q4 25 | 9.30× | 0.94× | ||
| Q3 25 | 0.76× | -7.33× | ||
| Q2 25 | -10.70× | -1.05× | ||
| Q1 25 | -19.48× | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | -8.04× | — |
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
JEF
| Investment Banking Underwriting | $555.6M | 33% |
| Principal Transactions Revenue | $378.3M | 23% |
| Commissions And Other Fees | $356.0M | 21% |
| Other | $177.8M | 11% |
| Internet Connection And Boadband Revenue | $57.0M | 3% |
| Other Sources Of Revenue Miscellaneous | $53.3M | 3% |
| Real Estate | $50.7M | 3% |
| Strategic Affiliates Revenue | $13.8M | 1% |
| Asset Management1 | $12.1M | 1% |
| Fixed Income Services | $1.6M | 0% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
