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Alliant Energy（LNT）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Alliant Energy的1.1倍（$1.2B vs $1.1B），Alliant Energy净利率更高（13.4% vs 8.9%，领先4.4%），Sunrun Inc.同比增速更快（123.5% vs 9.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 1.5%）
Alliant Energy是美国公用事业控股企业，主营受监管的电力与天然气服务，下设公用电力运营、公用燃气运营及其他公用事业三大业务板块。公司通过子公司Interstate Power and Light Company（IPL）为艾奥瓦州零售客户提供发电配电、天然气配送及运输服务，同时向明尼苏达州、伊利诺伊州等地的批发客户售电。
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。
LNT vs RUN — 直观对比
营收规模更大
RUN
是对方的1.1倍
$1.1B
营收增速更快
RUN
高出114.5%
9.0%
净利率更高
LNT
高出4.4%
8.9%
两年增速更快
RUN
近两年复合增速
1.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $1.2B |
| 净利润 | $142.0M | $103.6M |
| 毛利率 | 85.9% | — |
| 营业利润率 | 18.4% | 8.4% |
| 净利率 | 13.4% | 8.9% |
| 营收同比 | 9.0% | 123.5% |
| 净利润同比 | -5.3% | 103.7% |
| 每股收益（稀释后） | $0.54 | $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LNTRUN
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.2B | $724.6M | ||
| Q2 25 | $961.0M | $569.3M | ||
| Q1 25 | $1.1B | $504.3M | ||
| Q4 24 | $975.0M | $518.5M | ||
| Q3 24 | $1.1B | $537.2M | ||
| Q2 24 | $894.0M | $523.9M | ||
| Q1 24 | $1.0B | $458.2M |
净利润LNTRUN
| Q4 25 | $142.0M | $103.6M | ||
| Q3 25 | $281.0M | $16.6M | ||
| Q2 25 | $174.0M | $279.8M | ||
| Q1 25 | $213.0M | $50.0M | ||
| Q4 24 | $150.0M | $-2.8B | ||
| Q3 24 | $295.0M | $-83.8M | ||
| Q2 24 | $87.0M | $139.1M | ||
| Q1 24 | $158.0M | $-87.8M |
毛利率LNTRUN
| Q4 25 | 85.9% | — | ||
| Q3 25 | 86.3% | — | ||
| Q2 25 | 84.3% | — | ||
| Q1 25 | 86.0% | — | ||
| Q4 24 | 84.7% | — | ||
| Q3 24 | 84.7% | — | ||
| Q2 24 | 83.6% | — | ||
| Q1 24 | 85.3% | — |
营业利润率LNTRUN
| Q4 25 | 18.4% | 8.4% | ||
| Q3 25 | 28.8% | 0.5% | ||
| Q2 25 | 23.2% | -19.7% | ||
| Q1 25 | 22.8% | -22.8% | ||
| Q4 24 | 22.7% | -628.0% | ||
| Q3 24 | 29.0% | -23.8% | ||
| Q2 24 | 14.5% | -24.4% | ||
| Q1 24 | 21.5% | -40.0% |
净利率LNTRUN
| Q4 25 | 13.4% | 8.9% | ||
| Q3 25 | 23.2% | 2.3% | ||
| Q2 25 | 18.1% | 49.1% | ||
| Q1 25 | 18.9% | 9.9% | ||
| Q4 24 | 15.4% | -542.7% | ||
| Q3 24 | 27.3% | -15.6% | ||
| Q2 24 | 9.7% | 26.5% | ||
| Q1 24 | 15.3% | -19.2% |
每股收益（稀释后）LNTRUN
| Q4 25 | $0.54 | $0.38 | ||
| Q3 25 | $1.09 | $0.06 | ||
| Q2 25 | $0.68 | $1.07 | ||
| Q1 25 | $0.83 | $0.20 | ||
| Q4 24 | $0.58 | $-12.59 | ||
| Q3 24 | $1.15 | $-0.37 | ||
| Q2 24 | $0.34 | $0.55 | ||
| Q1 24 | $0.62 | $-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 | $556.0M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $7.3B | $3.1B |
| 总资产 | $25.0B | $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LNTRUN
| Q4 25 | $556.0M | — | ||
| Q3 25 | $753.0M | — | ||
| Q2 25 | $329.0M | — | ||
| Q1 25 | $25.0M | — | ||
| Q4 24 | $81.0M | — | ||
| Q3 24 | $827.0M | — | ||
| Q2 24 | $92.0M | — | ||
| Q1 24 | $32.0M | — |
总债务LNTRUN
| 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LNTRUN
| Q4 25 | $7.3B | $3.1B | ||
| Q3 25 | $7.3B | $3.0B | ||
| Q2 25 | $7.1B | $2.9B | ||
| Q1 25 | $7.1B | $2.6B | ||
| Q4 24 | $7.0B | $2.6B | ||
| Q3 24 | $7.0B | $5.3B | ||
| Q2 24 | $6.8B | $5.4B | ||
| Q1 24 | $6.8B | $5.2B |
总资产LNTRUN
| Q4 25 | $25.0B | $22.6B | ||
| Q3 25 | $24.6B | $22.2B | ||
| Q2 25 | $23.8B | $21.2B | ||
| Q1 25 | $22.9B | $20.4B | ||
| Q4 24 | $22.7B | $19.9B | ||
| Q3 24 | $22.8B | $22.1B | ||
| Q2 24 | $21.8B | $21.4B | ||
| Q1 24 | $21.2B | $20.8B |
负债/权益比LNTRUN
| 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 | $269.0M | $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 | — | — |
| 现金转化率经营现金流/净利润 | 1.89× | 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LNTRUN
| Q4 25 | $269.0M | $96.9M | ||
| Q3 25 | $408.0M | $-121.5M | ||
| Q2 25 | $243.0M | $-292.7M | ||
| Q1 25 | $249.0M | $-104.2M | ||
| Q4 24 | $254.0M | $-258.4M | ||
| Q3 24 | $351.0M | $-156.2M | ||
| Q2 24 | $255.0M | $-208.5M | ||
| Q1 24 | $307.0M | $-143.1M |
自由现金流LNTRUN
| Q4 25 | — | — | ||
| Q3 25 | $-103.0M | — | ||
| Q2 25 | $-179.0M | — | ||
| Q1 25 | $-305.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-59.0M | $-156.4M | ||
| Q2 24 | $-137.0M | — | ||
| Q1 24 | $-171.0M | — |
自由现金流率LNTRUN
| Q4 25 | — | — | ||
| Q3 25 | -8.5% | — | ||
| Q2 25 | -18.6% | — | ||
| Q1 25 | -27.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -5.5% | -29.1% | ||
| Q2 24 | -15.3% | — | ||
| Q1 24 | -16.6% | — |
资本支出强度LNTRUN
| Q4 25 | — | — | ||
| Q3 25 | 42.2% | — | ||
| Q2 25 | 43.9% | — | ||
| Q1 25 | 49.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 37.9% | 0.0% | ||
| Q2 24 | 43.8% | — | ||
| Q1 24 | 46.4% | — |
现金转化率LNTRUN
| Q4 25 | 1.89× | 0.94× | ||
| Q3 25 | 1.45× | -7.33× | ||
| Q2 25 | 1.40× | -1.05× | ||
| Q1 25 | 1.17× | -2.08× | ||
| Q4 24 | 1.69× | — | ||
| Q3 24 | 1.19× | — | ||
| Q2 24 | 2.93× | -1.50× | ||
| Q1 24 | 1.94× | — |
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
LNT
| Retail Residential | $313.0M | 29% |
| Retail Industrial | $251.0M | 24% |
| Retail Commercial | $226.0M | 21% |
| Gas | $158.0M | 15% |
| Other Customer | $43.0M | 4% |
| Wholesale | $36.0M | 3% |
| Other Utility | $15.0M | 1% |
| Steam | $9.0M | 1% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
