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KAISER ALUMINUM CORP（KALU）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KAISER ALUMINUM CORP的1.2倍（$1.2B vs $929.0M），Sunrun Inc.净利率更高（8.9% vs 3.0%，领先5.9%），Sunrun Inc.同比增速更快（123.5% vs 21.4%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 12.2%）
凯撒铝业是美国知名铝产品生产商，前身为凯撒铝业化工公司。其历史可追溯至Permanente Metals公司，该公司公开发行普通股后更名为凯撒铝业化工公司，后续拆分出现在的凯撒铝业，深耕铝材料生产领域，为下游多行业提供铝制品解决方案。
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。
KALU vs RUN — 直观对比
营收规模更大
RUN
是对方的1.2倍
$929.0M
营收增速更快
RUN
高出102.1%
21.4%
净利率更高
RUN
高出5.9%
3.0%
两年增速更快
RUN
近两年复合增速
12.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $929.0M | $1.2B |
| 净利润 | $28.2M | $103.6M |
| 毛利率 | 13.3% | — |
| 营业利润率 | 6.5% | 8.4% |
| 净利率 | 3.0% | 8.9% |
| 营收同比 | 21.4% | 123.5% |
| 净利润同比 | 42.4% | 103.7% |
| 每股收益（稀释后） | $1.67 | $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KALURUN
| Q4 25 | $929.0M | $1.2B | ||
| Q3 25 | $843.5M | $724.6M | ||
| Q2 25 | $823.1M | $569.3M | ||
| Q1 25 | $777.4M | $504.3M | ||
| Q4 24 | $765.4M | $518.5M | ||
| Q3 24 | $747.7M | $537.2M | ||
| Q2 24 | $773.4M | $523.9M | ||
| Q1 24 | $737.5M | $458.2M |
净利润KALURUN
| Q4 25 | $28.2M | $103.6M | ||
| Q3 25 | $39.5M | $16.6M | ||
| Q2 25 | $23.2M | $279.8M | ||
| Q1 25 | $21.6M | $50.0M | ||
| Q4 24 | $19.8M | $-2.8B | ||
| Q3 24 | $8.8M | $-83.8M | ||
| Q2 24 | $18.9M | $139.1M | ||
| Q1 24 | $18.2M | $-87.8M |
毛利率KALURUN
| Q4 25 | 13.3% | — | ||
| Q3 25 | 13.6% | — | ||
| Q2 25 | 12.2% | — | ||
| Q1 25 | 13.4% | — | ||
| Q4 24 | 12.5% | — | ||
| Q3 24 | 9.6% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | 11.7% | — |
营业利润率KALURUN
| Q4 25 | 6.5% | 8.4% | ||
| Q3 25 | 5.8% | 0.5% | ||
| Q2 25 | 4.6% | -19.7% | ||
| Q1 25 | 5.3% | -22.8% | ||
| Q4 24 | 5.0% | -628.0% | ||
| Q3 24 | 1.8% | -23.8% | ||
| Q2 24 | 4.7% | -24.4% | ||
| Q1 24 | 3.3% | -40.0% |
净利率KALURUN
| Q4 25 | 3.0% | 8.9% | ||
| Q3 25 | 4.7% | 2.3% | ||
| Q2 25 | 2.8% | 49.1% | ||
| Q1 25 | 2.8% | 9.9% | ||
| Q4 24 | 2.6% | -542.7% | ||
| Q3 24 | 1.2% | -15.6% | ||
| Q2 24 | 2.4% | 26.5% | ||
| Q1 24 | 2.5% | -19.2% |
每股收益（稀释后）KALURUN
| Q4 25 | $1.67 | $0.38 | ||
| Q3 25 | $2.38 | $0.06 | ||
| Q2 25 | $1.41 | $1.07 | ||
| Q1 25 | $1.31 | $0.20 | ||
| Q4 24 | $1.21 | $-12.59 | ||
| Q3 24 | $0.54 | $-0.37 | ||
| Q2 24 | $1.15 | $0.55 | ||
| Q1 24 | $1.12 | $-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 | $7.0M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $826.1M | $3.1B |
| 总资产 | $2.6B | $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KALURUN
| Q4 25 | $7.0M | — | ||
| Q3 25 | $17.2M | — | ||
| Q2 25 | $13.1M | — | ||
| Q1 25 | $21.3M | — | ||
| Q4 24 | $18.4M | — | ||
| Q3 24 | $45.7M | — | ||
| Q2 24 | $70.4M | — | ||
| Q1 24 | $101.6M | — |
总债务KALURUN
| 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KALURUN
| Q4 25 | $826.1M | $3.1B | ||
| Q3 25 | $806.1M | $3.0B | ||
| Q2 25 | $776.0M | $2.9B | ||
| Q1 25 | $756.8M | $2.6B | ||
| Q4 24 | $743.1M | $2.6B | ||
| Q3 24 | $729.4M | $5.3B | ||
| Q2 24 | $727.6M | $5.4B | ||
| Q1 24 | $714.7M | $5.2B |
总资产KALURUN
| Q4 25 | $2.6B | $22.6B | ||
| Q3 25 | $2.6B | $22.2B | ||
| Q2 25 | $2.5B | $21.2B | ||
| Q1 25 | $2.4B | $20.4B | ||
| Q4 24 | $2.4B | $19.9B | ||
| Q3 24 | $2.3B | $22.1B | ||
| Q2 24 | $2.3B | $21.4B | ||
| Q1 24 | $2.3B | $20.8B |
负债/权益比KALURUN
| 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 | $-20.6M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $-51.1M | — |
| 自由现金流率自由现金流/营收 | -5.5% | — |
| 资本支出强度资本支出/营收 | 3.3% | — |
| 现金转化率经营现金流/净利润 | -0.73× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $-25.5M | — |
8季度趋势，按日历期对齐
经营现金流KALURUN
| Q4 25 | $-20.6M | $96.9M | ||
| Q3 25 | $59.1M | $-121.5M | ||
| Q2 25 | $15.9M | $-292.7M | ||
| Q1 25 | $57.0M | $-104.2M | ||
| Q4 24 | $43.4M | $-258.4M | ||
| Q3 24 | $34.1M | $-156.2M | ||
| Q2 24 | $26.3M | $-208.5M | ||
| Q1 24 | $63.3M | $-143.1M |
自由现金流KALURUN
| Q4 25 | $-51.1M | — | ||
| Q3 25 | $34.5M | — | ||
| Q2 25 | $-27.7M | — | ||
| Q1 25 | $18.8M | — | ||
| Q4 24 | $-12.6M | — | ||
| Q3 24 | $-17.0M | $-156.4M | ||
| Q2 24 | $-17.4M | — | ||
| Q1 24 | $33.3M | — |
自由现金流率KALURUN
| Q4 25 | -5.5% | — | ||
| Q3 25 | 4.1% | — | ||
| Q2 25 | -3.4% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | -1.6% | — | ||
| Q3 24 | -2.3% | -29.1% | ||
| Q2 24 | -2.2% | — | ||
| Q1 24 | 4.5% | — |
资本支出强度KALURUN
| Q4 25 | 3.3% | — | ||
| Q3 25 | 2.9% | — | ||
| Q2 25 | 5.3% | — | ||
| Q1 25 | 4.9% | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 6.8% | 0.0% | ||
| Q2 24 | 5.7% | — | ||
| Q1 24 | 4.1% | — |
现金转化率KALURUN
| Q4 25 | -0.73× | 0.94× | ||
| Q3 25 | 1.50× | -7.33× | ||
| Q2 25 | 0.69× | -1.05× | ||
| Q1 25 | 2.64× | -2.08× | ||
| Q4 24 | 2.19× | — | ||
| Q3 24 | 3.88× | — | ||
| Q2 24 | 1.39× | -1.50× | ||
| Q1 24 | 3.48× | — |
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
KALU
| Packaging | $440.6M | 47% |
| Aero Hs Products | $213.0M | 23% |
| Transferred Over Time | $200.2M | 22% |
| Automotive Extrusions | $75.4M | 8% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
