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KeyCorp（KEY）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
KeyCorp的季度营收约是Sunrun Inc.的1.7倍（$2.0B vs $1.2B），KeyCorp净利率更高（25.4% vs 8.9%，领先16.5%），KeyCorp同比增速更快（131.8% vs 123.5%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 14.4%）
Key是日本知名视觉小说工作室，1998年7月21日作为发行商Visual Arts旗下品牌成立，总部位于大阪市北区。工作室主打剧情向作品，擅长创作情感饱满、情节跌宕的戏剧类内容，旗下多款作品深受全球ACG爱好者喜爱。
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。
KEY vs RUN — 直观对比
营收规模更大
KEY
是对方的1.7倍
$1.2B
营收增速更快
KEY
高出8.3%
123.5%
净利率更高
KEY
高出16.5%
8.9%
两年增速更快
RUN
近两年复合增速
14.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.0B | $1.2B |
| 净利润 | $510.0M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 32.3% | 8.4% |
| 净利率 | 25.4% | 8.9% |
| 营收同比 | 131.8% | 123.5% |
| 净利润同比 | 309.0% | 103.7% |
| 每股收益（稀释后） | $0.43 | $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KEYRUN
| Q4 25 | $2.0B | $1.2B | ||
| Q3 25 | $1.9B | $724.6M | ||
| Q2 25 | $1.8B | $569.3M | ||
| Q1 25 | $1.8B | $504.3M | ||
| Q4 24 | $865.0M | $518.5M | ||
| Q3 24 | $695.0M | $537.2M | ||
| Q2 24 | $1.5B | $523.9M | ||
| Q1 24 | $1.5B | $458.2M |
净利润KEYRUN
| Q4 25 | $510.0M | $103.6M | ||
| Q3 25 | $489.0M | $16.6M | ||
| Q2 25 | $425.0M | $279.8M | ||
| Q1 25 | $405.0M | $50.0M | ||
| Q4 24 | $-244.0M | $-2.8B | ||
| Q3 24 | $-410.0M | $-83.8M | ||
| Q2 24 | $274.0M | $139.1M | ||
| Q1 24 | $219.0M | $-87.8M |
营业利润率KEYRUN
| Q4 25 | 32.3% | 8.4% | ||
| Q3 25 | 31.8% | 0.5% | ||
| Q2 25 | 29.3% | -19.7% | ||
| Q1 25 | 29.0% | -22.8% | ||
| Q4 24 | -92.6% | -628.0% | ||
| Q3 24 | -72.8% | -23.8% | ||
| Q2 24 | 22.0% | -24.4% | ||
| Q1 24 | 18.1% | -40.0% |
净利率KEYRUN
| Q4 25 | 25.4% | 8.9% | ||
| Q3 25 | 25.8% | 2.3% | ||
| Q2 25 | 23.1% | 49.1% | ||
| Q1 25 | 22.8% | 9.9% | ||
| Q4 24 | -54.7% | -542.7% | ||
| Q3 24 | -59.0% | -15.6% | ||
| Q2 24 | 18.0% | 26.5% | ||
| Q1 24 | 14.3% | -19.2% |
每股收益（稀释后）KEYRUN
| Q4 25 | $0.43 | $0.38 | ||
| Q3 25 | $0.41 | $0.06 | ||
| Q2 25 | $0.35 | $1.07 | ||
| Q1 25 | $0.33 | $0.20 | ||
| Q4 24 | $-0.30 | $-12.59 | ||
| Q3 24 | $-0.47 | $-0.37 | ||
| Q2 24 | $0.25 | $0.55 | ||
| Q1 24 | $0.20 | $-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 | $10.2B | — |
| 总债务越低越好 | $9.9B | $14.7B |
| 股东权益账面价值 | $20.4B | $3.1B |
| 总资产 | $184.4B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.49× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资KEYRUN
| Q4 25 | $10.2B | — | ||
| Q3 25 | $13.3B | — | ||
| Q2 25 | $11.6B | — | ||
| Q1 25 | $15.3B | — | ||
| Q4 24 | $17.5B | — | ||
| Q3 24 | $22.8B | — | ||
| Q2 24 | $15.5B | — | ||
| Q1 24 | $13.2B | — |
总债务KEYRUN
| Q4 25 | $9.9B | $14.7B | ||
| Q3 25 | $10.9B | $14.6B | ||
| Q2 25 | $12.1B | $14.0B | ||
| Q1 25 | $12.4B | $13.6B | ||
| Q4 24 | $12.1B | $12.9B | ||
| Q3 24 | $15.7B | $12.5B | ||
| Q2 24 | $16.9B | $12.0B | ||
| Q1 24 | $20.8B | $11.1B |
股东权益KEYRUN
| Q4 25 | $20.4B | $3.1B | ||
| Q3 25 | $20.1B | $3.0B | ||
| Q2 25 | $19.5B | $2.9B | ||
| Q1 25 | $19.0B | $2.6B | ||
| Q4 24 | $18.2B | $2.6B | ||
| Q3 24 | $16.9B | $5.3B | ||
| Q2 24 | $14.8B | $5.4B | ||
| Q1 24 | $14.5B | $5.2B |
总资产KEYRUN
| Q4 25 | $184.4B | $22.6B | ||
| Q3 25 | $187.4B | $22.2B | ||
| Q2 25 | $185.5B | $21.2B | ||
| Q1 25 | $188.7B | $20.4B | ||
| Q4 24 | $187.2B | $19.9B | ||
| Q3 24 | $189.8B | $22.1B | ||
| Q2 24 | $187.4B | $21.4B | ||
| Q1 24 | $187.5B | $20.8B |
负债/权益比KEYRUN
| Q4 25 | 0.49× | 4.69× | ||
| Q3 25 | 0.54× | 4.90× | ||
| Q2 25 | 0.62× | 4.80× | ||
| Q1 25 | 0.65× | 5.19× | ||
| Q4 24 | 0.67× | 5.05× | ||
| Q3 24 | 0.93× | 2.36× | ||
| Q2 24 | 1.14× | 2.23× | ||
| Q1 24 | 1.43× | 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 | $2.2B | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $2.1B | — |
| 自由现金流率自由现金流/营收 | 104.8% | — |
| 资本支出强度资本支出/营收 | 5.3% | — |
| 现金转化率经营现金流/净利润 | 4.33× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $3.5B | — |
8季度趋势，按日历期对齐
经营现金流KEYRUN
| Q4 25 | $2.2B | $96.9M | ||
| Q3 25 | $396.0M | $-121.5M | ||
| Q2 25 | $1.2B | $-292.7M | ||
| Q1 25 | $-140.0M | $-104.2M | ||
| Q4 24 | $664.0M | $-258.4M | ||
| Q3 24 | $-1.2B | $-156.2M | ||
| Q2 24 | $-217.0M | $-208.5M | ||
| Q1 24 | $359.0M | $-143.1M |
自由现金流KEYRUN
| Q4 25 | $2.1B | — | ||
| Q3 25 | $367.0M | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $-150.0M | — | ||
| Q4 24 | $599.0M | — | ||
| Q3 24 | $-1.2B | $-156.4M | ||
| Q2 24 | $-230.0M | — | ||
| Q1 24 | $347.0M | — |
自由现金流率KEYRUN
| Q4 25 | 104.8% | — | ||
| Q3 25 | 19.4% | — | ||
| Q2 25 | 65.8% | — | ||
| Q1 25 | -8.5% | — | ||
| Q4 24 | 69.2% | — | ||
| Q3 24 | -175.8% | -29.1% | ||
| Q2 24 | -15.1% | — | ||
| Q1 24 | 22.6% | — |
资本支出强度KEYRUN
| Q4 25 | 5.3% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 7.5% | — | ||
| Q3 24 | 2.4% | 0.0% | ||
| Q2 24 | 0.9% | — | ||
| Q1 24 | 0.8% | — |
现金转化率KEYRUN
| Q4 25 | 4.33× | 0.94× | ||
| Q3 25 | 0.81× | -7.33× | ||
| Q2 25 | 2.90× | -1.05× | ||
| Q1 25 | -0.35× | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.79× | -1.50× | ||
| Q1 24 | 1.64× | — |
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
KEY
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% |
