vs
Match Group（MTCH）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Match Group的1.3倍（$1.2B vs $878.0M），Match Group净利率更高（23.9% vs 8.9%，领先14.9%），Sunrun Inc.同比增速更快（123.5% vs 2.1%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 1.1%）
美国互联网科技企业Match Group总部位于得克萨斯州达拉斯，旗下拥有全球规模最大的在线约会服务品牌矩阵，运营Tinder、Hinge、Plenty of Fish等多款全球知名约会产品。2020年7月公司从IAC分拆为独立上市公司，截至2019年全球付费订阅用户达930万，其中近半数来自北美地区。
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。
MTCH vs RUN — 直观对比
营收规模更大
RUN
是对方的1.3倍
$878.0M
营收增速更快
RUN
高出121.4%
2.1%
净利率更高
MTCH
高出14.9%
8.9%
两年增速更快
RUN
近两年复合增速
1.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $878.0M | $1.2B |
| 净利润 | $209.7M | $103.6M |
| 毛利率 | 74.7% | — |
| 营业利润率 | 32.4% | 8.4% |
| 净利率 | 23.9% | 8.9% |
| 营收同比 | 2.1% | 123.5% |
| 净利润同比 | 32.5% | 103.7% |
| 每股收益（稀释后） | $0.83 | $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MTCHRUN
| Q4 25 | $878.0M | $1.2B | ||
| Q3 25 | $914.3M | $724.6M | ||
| Q2 25 | $863.7M | $569.3M | ||
| Q1 25 | $831.2M | $504.3M | ||
| Q4 24 | $860.2M | $518.5M | ||
| Q3 24 | $895.5M | $537.2M | ||
| Q2 24 | $864.1M | $523.9M | ||
| Q1 24 | $859.6M | $458.2M |
净利润MTCHRUN
| Q4 25 | $209.7M | $103.6M | ||
| Q3 25 | $160.8M | $16.6M | ||
| Q2 25 | $125.5M | $279.8M | ||
| Q1 25 | $117.6M | $50.0M | ||
| Q4 24 | $158.3M | $-2.8B | ||
| Q3 24 | $136.5M | $-83.8M | ||
| Q2 24 | $133.3M | $139.1M | ||
| Q1 24 | $123.2M | $-87.8M |
毛利率MTCHRUN
| Q4 25 | 74.7% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 72.0% | — | ||
| Q1 25 | 71.5% | — | ||
| Q4 24 | 72.5% | — | ||
| Q3 24 | 71.7% | — | ||
| Q2 24 | 71.6% | — | ||
| Q1 24 | 70.1% | — |
营业利润率MTCHRUN
| Q4 25 | 32.4% | 8.4% | ||
| Q3 25 | 24.2% | 0.5% | ||
| Q2 25 | 22.5% | -19.7% | ||
| Q1 25 | 20.8% | -22.8% | ||
| Q4 24 | 26.0% | -628.0% | ||
| Q3 24 | 23.5% | -23.8% | ||
| Q2 24 | 23.7% | -24.4% | ||
| Q1 24 | 21.5% | -40.0% |
净利率MTCHRUN
| Q4 25 | 23.9% | 8.9% | ||
| Q3 25 | 17.6% | 2.3% | ||
| Q2 25 | 14.5% | 49.1% | ||
| Q1 25 | 14.1% | 9.9% | ||
| Q4 24 | 18.4% | -542.7% | ||
| Q3 24 | 15.2% | -15.6% | ||
| Q2 24 | 15.4% | 26.5% | ||
| Q1 24 | 14.3% | -19.2% |
每股收益（稀释后）MTCHRUN
| Q4 25 | $0.83 | $0.38 | ||
| Q3 25 | $0.62 | $0.06 | ||
| Q2 25 | $0.49 | $1.07 | ||
| Q1 25 | $0.44 | $0.20 | ||
| Q4 24 | $0.59 | $-12.59 | ||
| Q3 24 | $0.51 | $-0.37 | ||
| Q2 24 | $0.48 | $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 | $1.0B | — |
| 总债务越低越好 | $3.5B | $14.7B |
| 股东权益账面价值 | $-253.5M | $3.1B |
| 总资产 | $4.5B | $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MTCHRUN
| Q4 25 | $1.0B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $340.4M | — | ||
| Q1 25 | $414.2M | — | ||
| Q4 24 | $970.7M | — | ||
| Q3 24 | $860.9M | — | ||
| Q2 24 | $843.6M | — | ||
| Q1 24 | $920.9M | — |
总债务MTCHRUN
| Q4 25 | $3.5B | $14.7B | ||
| Q3 25 | — | $14.6B | ||
| Q2 25 | — | $14.0B | ||
| Q1 25 | $3.4B | $13.6B | ||
| Q4 24 | $3.8B | $12.9B | ||
| Q3 24 | $3.8B | $12.5B | ||
| Q2 24 | $3.8B | $12.0B | ||
| Q1 24 | $3.8B | $11.1B |
股东权益MTCHRUN
| Q4 25 | $-253.5M | $3.1B | ||
| Q3 25 | $-223.9M | $3.0B | ||
| Q2 25 | $-230.9M | $2.9B | ||
| Q1 25 | $-182.7M | $2.6B | ||
| Q4 24 | $-63.7M | $2.6B | ||
| Q3 24 | $-88.5M | $5.3B | ||
| Q2 24 | $-130.2M | $5.4B | ||
| Q1 24 | $-107.8M | $5.2B |
总资产MTCHRUN
| Q4 25 | $4.5B | $22.6B | ||
| Q3 25 | $4.5B | $22.2B | ||
| Q2 25 | $3.9B | $21.2B | ||
| Q1 25 | $3.9B | $20.4B | ||
| Q4 24 | $4.5B | $19.9B | ||
| Q3 24 | $4.4B | $22.1B | ||
| Q2 24 | $4.4B | $21.4B | ||
| Q1 24 | $4.4B | $20.8B |
负债/权益比MTCHRUN
| 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 | $322.8M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $308.1M | — |
| 自由现金流率自由现金流/营收 | 35.1% | — |
| 资本支出强度资本支出/营收 | 1.7% | — |
| 现金转化率经营现金流/净利润 | 1.54× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $1.0B | — |
8季度趋势，按日历期对齐
经营现金流MTCHRUN
| Q4 25 | $322.8M | $96.9M | ||
| Q3 25 | $320.6M | $-121.5M | ||
| Q2 25 | $243.8M | $-292.7M | ||
| Q1 25 | $193.1M | $-104.2M | ||
| Q4 24 | $254.7M | $-258.4M | ||
| Q3 24 | $264.9M | $-156.2M | ||
| Q2 24 | $129.0M | $-208.5M | ||
| Q1 24 | $284.1M | $-143.1M |
自由现金流MTCHRUN
| Q4 25 | $308.1M | — | ||
| Q3 25 | $306.8M | — | ||
| Q2 25 | $231.0M | — | ||
| Q1 25 | $177.7M | — | ||
| Q4 24 | $247.1M | — | ||
| Q3 24 | $251.8M | $-156.4M | ||
| Q2 24 | $116.3M | — | ||
| Q1 24 | $266.9M | — |
自由现金流率MTCHRUN
| Q4 25 | 35.1% | — | ||
| Q3 25 | 33.6% | — | ||
| Q2 25 | 26.7% | — | ||
| Q1 25 | 21.4% | — | ||
| Q4 24 | 28.7% | — | ||
| Q3 24 | 28.1% | -29.1% | ||
| Q2 24 | 13.5% | — | ||
| Q1 24 | 31.0% | — |
资本支出强度MTCHRUN
| Q4 25 | 1.7% | — | ||
| Q3 25 | 1.5% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.5% | 0.0% | ||
| Q2 24 | 1.5% | — | ||
| Q1 24 | 2.0% | — |
现金转化率MTCHRUN
| Q4 25 | 1.54× | 0.94× | ||
| Q3 25 | 1.99× | -7.33× | ||
| Q2 25 | 1.94× | -1.05× | ||
| Q1 25 | 1.64× | -2.08× | ||
| Q4 24 | 1.61× | — | ||
| Q3 24 | 1.94× | — | ||
| Q2 24 | 0.97× | -1.50× | ||
| Q1 24 | 2.31× | — |
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
MTCH
| Tinder Segment | $479.3M | 55% |
| Hinge Segment | $186.5M | 21% |
| Evergreen And Emerging Segment | $148.1M | 17% |
| MG Asia Segment | $65.8M | 7% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
