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Liberty Energy Inc.（LBRT）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Liberty Energy Inc.的1.1倍（$1.2B vs $1.0B），Sunrun Inc.净利率更高（8.9% vs 2.2%，领先6.7%），Sunrun Inc.同比增速更快（123.5% vs 4.5%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -6.2%）
Liberty Energy Inc.是北美领先的能源服务供应商，专注为油气运营企业提供水力压裂及完井解决方案，服务覆盖美国主要页岩产区，供应低排放作业设备及定制化支持，帮助提升油气井生产效率。
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。
LBRT vs RUN — 直观对比
营收规模更大
RUN
是对方的1.1倍
$1.0B
营收增速更快
RUN
高出119.0%
4.5%
净利率更高
RUN
高出6.7%
2.2%
两年增速更快
RUN
近两年复合增速
-6.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $22.6M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 2.2% | 8.4% |
| 净利率 | 2.2% | 8.9% |
| 营收同比 | 4.5% | 123.5% |
| 净利润同比 | — | 103.7% |
| 每股收益（稀释后） | $0.14 | $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LBRTRUN
| Q1 26 | $1.0B | — | ||
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $947.4M | $724.6M | ||
| Q2 25 | $1.0B | $569.3M | ||
| Q1 25 | $977.5M | $504.3M | ||
| Q4 24 | $943.6M | $518.5M | ||
| Q3 24 | $1.1B | $537.2M | ||
| Q2 24 | $1.2B | $523.9M |
净利润LBRTRUN
| Q1 26 | $22.6M | — | ||
| Q4 25 | $13.7M | $103.6M | ||
| Q3 25 | $43.1M | $16.6M | ||
| Q2 25 | $71.0M | $279.8M | ||
| Q1 25 | $20.1M | $50.0M | ||
| Q4 24 | $51.9M | $-2.8B | ||
| Q3 24 | $73.8M | $-83.8M | ||
| Q2 24 | $108.4M | $139.1M |
毛利率LBRTRUN
| Q1 26 | — | — | ||
| Q4 25 | 20.6% | — | ||
| Q3 25 | 18.7% | — | ||
| Q2 25 | 22.1% | — | ||
| Q1 25 | 22.1% | — | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 26.2% | — | ||
| Q2 24 | 27.9% | — |
营业利润率LBRTRUN
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.9% | 8.4% | ||
| Q3 25 | -0.3% | 0.5% | ||
| Q2 25 | 3.6% | -19.7% | ||
| Q1 25 | 1.9% | -22.8% | ||
| Q4 24 | 2.6% | -628.0% | ||
| Q3 24 | 9.4% | -23.8% | ||
| Q2 24 | 12.2% | -24.4% |
净利率LBRTRUN
| Q1 26 | 2.2% | — | ||
| Q4 25 | 1.3% | 8.9% | ||
| Q3 25 | 4.5% | 2.3% | ||
| Q2 25 | 6.8% | 49.1% | ||
| Q1 25 | 2.1% | 9.9% | ||
| Q4 24 | 5.5% | -542.7% | ||
| Q3 24 | 6.5% | -15.6% | ||
| Q2 24 | 9.3% | 26.5% |
每股收益（稀释后）LBRTRUN
| Q1 26 | $0.14 | — | ||
| Q4 25 | $0.08 | $0.38 | ||
| Q3 25 | $0.26 | $0.06 | ||
| Q2 25 | $0.43 | $1.07 | ||
| Q1 25 | $0.12 | $0.20 | ||
| Q4 24 | $0.31 | $-12.59 | ||
| Q3 24 | $0.44 | $-0.37 | ||
| Q2 24 | $0.64 | $0.55 |
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 | $699.1M | — |
| 总债务越低越好 | $7.1M | $14.7B |
| 股东权益账面价值 | $1.9B | $3.1B |
| 总资产 | $4.4B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.00× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资LBRTRUN
| Q1 26 | $699.1M | — | ||
| Q4 25 | $27.6M | — | ||
| Q3 25 | $13.5M | — | ||
| Q2 25 | $19.6M | — | ||
| Q1 25 | $24.1M | — | ||
| Q4 24 | $20.0M | — | ||
| Q3 24 | $23.0M | — | ||
| Q2 24 | $30.0M | — |
总债务LBRTRUN
| Q1 26 | $7.1M | — | ||
| Q4 25 | $246.6M | $14.7B | ||
| Q3 25 | — | $14.6B | ||
| Q2 25 | — | $14.0B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | $190.5M | $12.9B | ||
| Q3 24 | — | $12.5B | ||
| Q2 24 | — | $12.0B |
股东权益LBRTRUN
| Q1 26 | $1.9B | — | ||
| Q4 25 | $2.1B | $3.1B | ||
| Q3 25 | $2.1B | $3.0B | ||
| Q2 25 | $2.0B | $2.9B | ||
| Q1 25 | $2.0B | $2.6B | ||
| Q4 24 | $2.0B | $2.6B | ||
| Q3 24 | $2.0B | $5.3B | ||
| Q2 24 | $1.9B | $5.4B |
总资产LBRTRUN
| Q1 26 | $4.4B | — | ||
| Q4 25 | $3.6B | $22.6B | ||
| Q3 25 | $3.5B | $22.2B | ||
| Q2 25 | $3.4B | $21.2B | ||
| Q1 25 | $3.4B | $20.4B | ||
| Q4 24 | $3.3B | $19.9B | ||
| Q3 24 | $3.3B | $22.1B | ||
| Q2 24 | $3.2B | $21.4B |
负债/权益比LBRTRUN
| Q1 26 | 0.00× | — | ||
| Q4 25 | 0.12× | 4.69× | ||
| Q3 25 | — | 4.90× | ||
| Q2 25 | — | 4.80× | ||
| Q1 25 | — | 5.19× | ||
| Q4 24 | 0.10× | 5.05× | ||
| Q3 24 | — | 2.36× | ||
| Q2 24 | — | 2.23× |
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 | — | $96.9M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 13.1% | — |
| 现金转化率经营现金流/净利润 | — | 0.94× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流LBRTRUN
| Q1 26 | — | — | ||
| Q4 25 | $195.4M | $96.9M | ||
| Q3 25 | $51.5M | $-121.5M | ||
| Q2 25 | $170.6M | $-292.7M | ||
| Q1 25 | $192.1M | $-104.2M | ||
| Q4 24 | $177.3M | $-258.4M | ||
| Q3 24 | $244.5M | $-156.2M | ||
| Q2 24 | $248.2M | $-208.5M |
自由现金流LBRTRUN
| Q1 26 | — | — | ||
| Q4 25 | $-10.0M | — | ||
| Q3 25 | $-67.2M | — | ||
| Q2 25 | $33.1M | — | ||
| Q1 25 | $58.2M | — | ||
| Q4 24 | $-26.2M | — | ||
| Q3 24 | $77.9M | $-156.4M | ||
| Q2 24 | $112.2M | — |
自由现金流率LBRTRUN
| Q1 26 | — | — | ||
| Q4 25 | -1.0% | — | ||
| Q3 25 | -7.1% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 6.0% | — | ||
| Q4 24 | -2.8% | — | ||
| Q3 24 | 6.8% | -29.1% | ||
| Q2 24 | 9.7% | — |
资本支出强度LBRTRUN
| Q1 26 | 13.1% | — | ||
| Q4 25 | 19.8% | — | ||
| Q3 25 | 12.5% | — | ||
| Q2 25 | 13.2% | — | ||
| Q1 25 | 13.7% | — | ||
| Q4 24 | 21.6% | — | ||
| Q3 24 | 14.6% | 0.0% | ||
| Q2 24 | 11.7% | — |
现金转化率LBRTRUN
| Q1 26 | — | — | ||
| Q4 25 | 14.28× | 0.94× | ||
| Q3 25 | 1.20× | -7.33× | ||
| Q2 25 | 2.40× | -1.05× | ||
| Q1 25 | 9.55× | -2.08× | ||
| Q4 24 | 3.42× | — | ||
| Q3 24 | 3.31× | — | ||
| Q2 24 | 2.29× | -1.50× |
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
LBRT
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% |
