vs
Magnera Corp（MAGN）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Magnera Corp的1.5倍（$1.2B vs $792.0M），Sunrun Inc.净利率更高（8.9% vs -4.3%，领先13.2%），Sunrun Inc.同比增速更快（123.5% vs 12.8%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 54.9%）
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。
MAGN vs RUN — 直观对比
营收规模更大
RUN
是对方的1.5倍
$792.0M
营收增速更快
RUN
高出110.7%
12.8%
净利率更高
RUN
高出13.2%
-4.3%
两年增速更快
RUN
近两年复合增速
54.9%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $792.0M | $1.2B |
| 净利润 | $-34.0M | $103.6M |
| 毛利率 | 12.2% | — |
| 营业利润率 | 1.8% | 8.4% |
| 净利率 | -4.3% | 8.9% |
| 营收同比 | 12.8% | 123.5% |
| 净利润同比 | 43.3% | 103.7% |
| 每股收益（稀释后） | $-0.95 | $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MAGNRUN
| Q4 25 | $792.0M | $1.2B | ||
| Q3 25 | — | $724.6M | ||
| Q2 25 | $839.0M | $569.3M | ||
| Q1 25 | $824.0M | $504.3M | ||
| Q4 24 | $702.0M | $518.5M | ||
| Q3 24 | $332.1M | $537.2M | ||
| Q2 24 | $556.0M | $523.9M | ||
| Q1 24 | $558.0M | $458.2M |
净利润MAGNRUN
| Q4 25 | $-34.0M | $103.6M | ||
| Q3 25 | — | $16.6M | ||
| Q2 25 | $-18.0M | $279.8M | ||
| Q1 25 | $-41.0M | $50.0M | ||
| Q4 24 | $-60.0M | $-2.8B | ||
| Q3 24 | $-15.2M | $-83.8M | ||
| Q2 24 | $19.0M | $139.1M | ||
| Q1 24 | $14.0M | $-87.8M |
毛利率MAGNRUN
| Q4 25 | 12.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 10.7% | — | ||
| Q1 25 | 10.7% | — | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 10.7% | — | ||
| Q2 24 | 6.6% | — | ||
| Q1 24 | 6.2% | — |
营业利润率MAGNRUN
| Q4 25 | 1.8% | 8.4% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | 1.5% | -19.7% | ||
| Q1 25 | 0.5% | -22.8% | ||
| Q4 24 | -3.1% | -628.0% | ||
| Q3 24 | 0.9% | -23.8% | ||
| Q2 24 | 3.1% | -24.4% | ||
| Q1 24 | 3.8% | -40.0% |
净利率MAGNRUN
| Q4 25 | -4.3% | 8.9% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | -2.1% | 49.1% | ||
| Q1 25 | -5.0% | 9.9% | ||
| Q4 24 | -8.5% | -542.7% | ||
| Q3 24 | -4.6% | -15.6% | ||
| Q2 24 | 3.4% | 26.5% | ||
| Q1 24 | 2.5% | -19.2% |
每股收益（稀释后）MAGNRUN
| Q4 25 | $-0.95 | $0.38 | ||
| Q3 25 | — | $0.06 | ||
| Q2 25 | $-0.51 | $1.07 | ||
| Q1 25 | $-1.15 | $0.20 | ||
| Q4 24 | $-1.69 | $-12.59 | ||
| Q3 24 | $-0.33 | $-0.37 | ||
| Q2 24 | $0.60 | $0.55 | ||
| Q1 24 | $0.44 | $-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 | $264.0M | — |
| 总债务越低越好 | $1.9B | $14.7B |
| 股东权益账面价值 | $1.0B | $3.1B |
| 总资产 | $3.9B | $22.6B |
| 负债/权益比越低杠杆越低 | 1.86× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资MAGNRUN
| Q4 25 | $264.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $276.0M | — | ||
| Q1 25 | $282.0M | — | ||
| Q4 24 | $215.0M | — | ||
| Q3 24 | $230.0M | — | ||
| Q2 24 | $33.9M | — | ||
| Q1 24 | $30.2M | — |
总债务MAGNRUN
| Q4 25 | $1.9B | $14.7B | ||
| Q3 25 | — | $14.6B | ||
| Q2 25 | $2.0B | $14.0B | ||
| Q1 25 | $2.0B | $13.6B | ||
| Q4 24 | $2.0B | $12.9B | ||
| Q3 24 | $2.0B | $12.5B | ||
| Q2 24 | $877.4M | $12.0B | ||
| Q1 24 | $884.7M | $11.1B |
股东权益MAGNRUN
| Q4 25 | $1.0B | $3.1B | ||
| Q3 25 | — | $3.0B | ||
| Q2 25 | $1.1B | $2.9B | ||
| Q1 25 | $1.1B | $2.6B | ||
| Q4 24 | $1.1B | $2.6B | ||
| Q3 24 | $2.1B | $5.3B | ||
| Q2 24 | $2.4B | $5.4B | ||
| Q1 24 | $2.4B | $5.2B |
总资产MAGNRUN
| Q4 25 | $3.9B | $22.6B | ||
| Q3 25 | — | $22.2B | ||
| Q2 25 | $4.1B | $21.2B | ||
| Q1 25 | $4.1B | $20.4B | ||
| Q4 24 | $4.0B | $19.9B | ||
| Q3 24 | $2.8B | $22.1B | ||
| Q2 24 | $1.5B | $21.4B | ||
| Q1 24 | $1.5B | $20.8B |
负债/权益比MAGNRUN
| Q4 25 | 1.86× | 4.69× | ||
| Q3 25 | — | 4.90× | ||
| Q2 25 | 1.77× | 4.80× | ||
| Q1 25 | 1.83× | 5.19× | ||
| Q4 24 | 1.80× | 5.05× | ||
| Q3 24 | 0.91× | 2.36× | ||
| Q2 24 | 0.37× | 2.23× | ||
| Q1 24 | 0.36× | 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 | $2.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $-13.0M | — |
| 自由现金流率自由现金流/营收 | -1.6% | — |
| 资本支出强度资本支出/营收 | 1.9% | — |
| 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MAGNRUN
| Q4 25 | $2.0M | $96.9M | ||
| Q3 25 | — | $-121.5M | ||
| Q2 25 | $0 | $-292.7M | ||
| Q1 25 | $65.0M | $-104.2M | ||
| Q4 24 | $-58.0M | $-258.4M | ||
| Q3 24 | $12.2M | $-156.2M | ||
| Q2 24 | $38.0M | $-208.5M | ||
| Q1 24 | $20.0M | $-143.1M |
自由现金流MAGNRUN
| Q4 25 | $-13.0M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $42.0M | — | ||
| Q4 24 | $-74.0M | — | ||
| Q3 24 | $3.6M | $-156.4M | ||
| Q2 24 | $23.0M | — | ||
| Q1 24 | $12.5M | — |
自由现金流率MAGNRUN
| Q4 25 | -1.6% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | -10.5% | — | ||
| Q3 24 | 1.1% | -29.1% | ||
| Q2 24 | 4.1% | — | ||
| Q1 24 | 2.2% | — |
资本支出强度MAGNRUN
| Q4 25 | 1.9% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 2.6% | 0.0% | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 1.3% | — |
现金转化率MAGNRUN
| Q4 25 | — | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 2.00× | -1.50× | ||
| Q1 24 | 1.43× | — |
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
MAGN
| Other | $451.0M | 57% |
| United States And Canada | $341.0M | 43% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
