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Loews Corporation（L）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Loews Corporation的1.4倍（$1.2B vs $827.0M），Loews Corporation净利率更高（48.6% vs 8.9%，领先39.7%），Sunrun Inc.同比增速更快（123.5% vs 4.8%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 7.9%）
Loews Corporation是一家总部位于美国的多元化综合企业集团，旗下子公司业务覆盖财产保险、天然气管道运输、酒店运营、油气勘探生产等核心领域，主要服务北美市场的商业、消费者及工业客户。
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。
L vs RUN — 直观对比
营收规模更大
RUN
是对方的1.4倍
$827.0M
营收增速更快
RUN
高出118.7%
4.8%
净利率更高
L
高出39.7%
8.9%
两年增速更快
RUN
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $827.0M | $1.2B |
| 净利润 | $402.0M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 65.4% | 8.4% |
| 净利率 | 48.6% | 8.9% |
| 营收同比 | 4.8% | 123.5% |
| 净利润同比 | 115.0% | 103.7% |
| 每股收益（稀释后） | $1.93 | $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LRUN
| Q4 25 | $827.0M | $1.2B | ||
| Q3 25 | $732.0M | $724.6M | ||
| Q2 25 | $769.0M | $569.3M | ||
| Q1 25 | $846.0M | $504.3M | ||
| Q4 24 | $789.0M | $518.5M | ||
| Q3 24 | $683.0M | $537.2M | ||
| Q2 24 | $711.0M | $523.9M | ||
| Q1 24 | $710.0M | $458.2M |
净利润LRUN
| Q4 25 | $402.0M | $103.6M | ||
| Q3 25 | $504.0M | $16.6M | ||
| Q2 25 | $391.0M | $279.8M | ||
| Q1 25 | $370.0M | $50.0M | ||
| Q4 24 | $187.0M | $-2.8B | ||
| Q3 24 | $401.0M | $-83.8M | ||
| Q2 24 | $369.0M | $139.1M | ||
| Q1 24 | $457.0M | $-87.8M |
营业利润率LRUN
| Q4 25 | 65.4% | 8.4% | ||
| Q3 25 | 94.1% | 0.5% | ||
| Q2 25 | 70.1% | -19.7% | ||
| Q1 25 | 60.8% | -22.8% | ||
| Q4 24 | 23.8% | -628.0% | ||
| Q3 24 | 80.5% | -23.8% | ||
| Q2 24 | 71.3% | -24.4% | ||
| Q1 24 | 88.6% | -40.0% |
净利率LRUN
| Q4 25 | 48.6% | 8.9% | ||
| Q3 25 | 68.9% | 2.3% | ||
| Q2 25 | 50.8% | 49.1% | ||
| Q1 25 | 43.7% | 9.9% | ||
| Q4 24 | 23.7% | -542.7% | ||
| Q3 24 | 58.7% | -15.6% | ||
| Q2 24 | 51.9% | 26.5% | ||
| Q1 24 | 64.4% | -19.2% |
每股收益（稀释后）LRUN
| Q4 25 | $1.93 | $0.38 | ||
| Q3 25 | $2.43 | $0.06 | ||
| Q2 25 | $1.87 | $1.07 | ||
| Q1 25 | $1.74 | $0.20 | ||
| Q4 24 | $0.87 | $-12.59 | ||
| Q3 24 | $1.82 | $-0.37 | ||
| Q2 24 | $1.67 | $0.55 | ||
| Q1 24 | $2.05 | $-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 | $6.0B | — |
| 总债务越低越好 | $8.4B | $14.7B |
| 股东权益账面价值 | $18.7B | $3.1B |
| 总资产 | $86.3B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.45× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资LRUN
| Q4 25 | $6.0B | — | ||
| Q3 25 | $5.4B | — | ||
| Q2 25 | $4.5B | — | ||
| Q1 25 | $4.4B | — | ||
| Q4 24 | $4.6B | — | ||
| Q3 24 | $5.2B | — | ||
| Q2 24 | $4.9B | — | ||
| Q1 24 | $5.4B | — |
总债务LRUN
| Q4 25 | $8.4B | $14.7B | ||
| Q3 25 | $8.4B | $14.6B | ||
| Q2 25 | $7.9B | $14.0B | ||
| Q1 25 | $8.4B | $13.6B | ||
| Q4 24 | $8.9B | $12.9B | ||
| Q3 24 | $8.8B | $12.5B | ||
| Q2 24 | $8.6B | $12.0B | ||
| Q1 24 | $8.4B | $11.1B |
股东权益LRUN
| Q4 25 | $18.7B | $3.1B | ||
| Q3 25 | $18.3B | $3.0B | ||
| Q2 25 | $17.5B | $2.9B | ||
| Q1 25 | $17.2B | $2.6B | ||
| Q4 24 | $17.1B | $2.6B | ||
| Q3 24 | $17.4B | $5.3B | ||
| Q2 24 | $16.4B | $5.4B | ||
| Q1 24 | $16.2B | $5.2B |
总资产LRUN
| Q4 25 | $86.3B | $22.6B | ||
| Q3 25 | $85.9B | $22.2B | ||
| Q2 25 | $84.7B | $21.2B | ||
| Q1 25 | $83.1B | $20.4B | ||
| Q4 24 | $81.9B | $19.9B | ||
| Q3 24 | $83.6B | $22.1B | ||
| Q2 24 | $81.1B | $21.4B | ||
| Q1 24 | $80.9B | $20.8B |
负债/权益比LRUN
| Q4 25 | 0.45× | 4.69× | ||
| Q3 25 | 0.46× | 4.90× | ||
| Q2 25 | 0.45× | 4.80× | ||
| Q1 25 | 0.49× | 5.19× | ||
| Q4 24 | 0.52× | 5.05× | ||
| Q3 24 | 0.51× | 2.36× | ||
| Q2 24 | 0.52× | 2.23× | ||
| Q1 24 | 0.52× | 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 | $617.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $426.0M | — |
| 自由现金流率自由现金流/营收 | 51.5% | — |
| 资本支出强度资本支出/营收 | 23.1% | — |
| 现金转化率经营现金流/净利润 | 1.53× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $2.7B | — |
8季度趋势，按日历期对齐
经营现金流LRUN
| Q4 25 | $617.0M | $96.9M | ||
| Q3 25 | $920.0M | $-121.5M | ||
| Q2 25 | $1.0B | $-292.7M | ||
| Q1 25 | $736.0M | $-104.2M | ||
| Q4 24 | $941.0M | $-258.4M | ||
| Q3 24 | $934.0M | $-156.2M | ||
| Q2 24 | $952.0M | $-208.5M | ||
| Q1 24 | $198.0M | $-143.1M |
自由现金流LRUN
| Q4 25 | $426.0M | — | ||
| Q3 25 | $764.0M | — | ||
| Q2 25 | $872.0M | — | ||
| Q1 25 | $638.0M | — | ||
| Q4 24 | $767.0M | — | ||
| Q3 24 | $794.0M | $-156.4M | ||
| Q2 24 | $793.0M | — | ||
| Q1 24 | $39.0M | — |
自由现金流率LRUN
| Q4 25 | 51.5% | — | ||
| Q3 25 | 104.4% | — | ||
| Q2 25 | 113.4% | — | ||
| Q1 25 | 75.4% | — | ||
| Q4 24 | 97.2% | — | ||
| Q3 24 | 116.3% | -29.1% | ||
| Q2 24 | 111.5% | — | ||
| Q1 24 | 5.5% | — |
资本支出强度LRUN
| Q4 25 | 23.1% | — | ||
| Q3 25 | 21.3% | — | ||
| Q2 25 | 17.4% | — | ||
| Q1 25 | 11.6% | — | ||
| Q4 24 | 22.1% | — | ||
| Q3 24 | 20.5% | 0.0% | ||
| Q2 24 | 22.4% | — | ||
| Q1 24 | 22.4% | — |
现金转化率LRUN
| Q4 25 | 1.53× | 0.94× | ||
| Q3 25 | 1.83× | -7.33× | ||
| Q2 25 | 2.57× | -1.05× | ||
| Q1 25 | 1.99× | -2.08× | ||
| Q4 24 | 5.03× | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 2.58× | -1.50× | ||
| Q1 24 | 0.43× | — |
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
L
| Transportation And Storage Of Natural Gas And NG Ls And Ethane Supply And Transportation Services | $601.0M | 73% |
| Lodging And Related Services | $226.0M | 27% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
