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MYR GROUP INC.（MYRG）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MYR GROUP INC.的1.2倍（$1.2B vs $973.5M），Sunrun Inc.净利率更高（8.9% vs 3.8%，领先5.2%），Sunrun Inc.同比增速更快（123.5% vs 17.3%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 9.3%）
MYR集团是美国知名电气建设服务提供商，业务覆盖输配电线路、变电站、工商业建筑及可再生能源领域的电气施工，旗下拥有12家电气建设子公司，在北美电力基建赛道拥有深厚的技术积累与项目交付能力。
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。
MYRG vs RUN — 直观对比
营收规模更大
RUN
是对方的1.2倍
$973.5M
营收增速更快
RUN
高出106.2%
17.3%
净利率更高
RUN
高出5.2%
3.8%
两年增速更快
RUN
近两年复合增速
9.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $973.5M | $1.2B |
| 净利润 | $36.5M | $103.6M |
| 毛利率 | 11.4% | — |
| 营业利润率 | 4.8% | 8.4% |
| 净利率 | 3.8% | 8.9% |
| 营收同比 | 17.3% | 123.5% |
| 净利润同比 | 129.1% | 103.7% |
| 每股收益（稀释后） | $2.33 | $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MYRGRUN
| Q4 25 | $973.5M | $1.2B | ||
| Q3 25 | $950.4M | $724.6M | ||
| Q2 25 | $900.3M | $569.3M | ||
| Q1 25 | $833.6M | $504.3M | ||
| Q4 24 | $829.8M | $518.5M | ||
| Q3 24 | $888.0M | $537.2M | ||
| Q2 24 | $828.9M | $523.9M | ||
| Q1 24 | $815.6M | $458.2M |
净利润MYRGRUN
| Q4 25 | $36.5M | $103.6M | ||
| Q3 25 | $32.1M | $16.6M | ||
| Q2 25 | $26.5M | $279.8M | ||
| Q1 25 | $23.3M | $50.0M | ||
| Q4 24 | $16.0M | $-2.8B | ||
| Q3 24 | $10.6M | $-83.8M | ||
| Q2 24 | $-15.3M | $139.1M | ||
| Q1 24 | $18.9M | $-87.8M |
毛利率MYRGRUN
| Q4 25 | 11.4% | — | ||
| Q3 25 | 11.8% | — | ||
| Q2 25 | 11.5% | — | ||
| Q1 25 | 11.6% | — | ||
| Q4 24 | 10.4% | — | ||
| Q3 24 | 8.7% | — | ||
| Q2 24 | 4.9% | — | ||
| Q1 24 | 10.6% | — |
营业利润率MYRGRUN
| Q4 25 | 4.8% | 8.4% | ||
| Q3 25 | 4.9% | 0.5% | ||
| Q2 25 | 4.4% | -19.7% | ||
| Q1 25 | 4.1% | -22.8% | ||
| Q4 24 | 3.6% | -628.0% | ||
| Q3 24 | 2.3% | -23.8% | ||
| Q2 24 | -2.5% | -24.4% | ||
| Q1 24 | 3.0% | -40.0% |
净利率MYRGRUN
| Q4 25 | 3.8% | 8.9% | ||
| Q3 25 | 3.4% | 2.3% | ||
| Q2 25 | 2.9% | 49.1% | ||
| Q1 25 | 2.8% | 9.9% | ||
| Q4 24 | 1.9% | -542.7% | ||
| Q3 24 | 1.2% | -15.6% | ||
| Q2 24 | -1.8% | 26.5% | ||
| Q1 24 | 2.3% | -19.2% |
每股收益（稀释后）MYRGRUN
| Q4 25 | $2.33 | $0.38 | ||
| Q3 25 | $2.05 | $0.06 | ||
| Q2 25 | $1.70 | $1.07 | ||
| Q1 25 | $1.45 | $0.20 | ||
| Q4 24 | $0.97 | $-12.59 | ||
| Q3 24 | $0.65 | $-0.37 | ||
| Q2 24 | $-0.91 | $0.55 | ||
| Q1 24 | $1.12 | $-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 | $150.2M | — |
| 总债务越低越好 | $59.0M | $14.7B |
| 股东权益账面价值 | $660.4M | $3.1B |
| 总资产 | $1.6B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.09× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资MYRGRUN
| Q4 25 | $150.2M | — | ||
| Q3 25 | $76.2M | — | ||
| Q2 25 | $23.0M | — | ||
| Q1 25 | $10.9M | — | ||
| Q4 24 | $3.5M | — | ||
| Q3 24 | $7.6M | — | ||
| Q2 24 | $1.9M | — | ||
| Q1 24 | $3.9M | — |
总债务MYRGRUN
| Q4 25 | $59.0M | $14.7B | ||
| Q3 25 | $72.0M | $14.6B | ||
| Q2 25 | $86.1M | $14.0B | ||
| Q1 25 | $87.2M | $13.6B | ||
| Q4 24 | $74.4M | $12.9B | ||
| Q3 24 | $93.2M | $12.5B | ||
| Q2 24 | $45.1M | $12.0B | ||
| Q1 24 | $37.9M | $11.1B |
股东权益MYRGRUN
| Q4 25 | $660.4M | $3.1B | ||
| Q3 25 | $617.6M | $3.0B | ||
| Q2 25 | $583.2M | $2.9B | ||
| Q1 25 | $548.7M | $2.6B | ||
| Q4 24 | $600.4M | $2.6B | ||
| Q3 24 | $588.5M | $5.3B | ||
| Q2 24 | $633.3M | $5.4B | ||
| Q1 24 | $663.7M | $5.2B |
总资产MYRGRUN
| Q4 25 | $1.6B | $22.6B | ||
| Q3 25 | $1.6B | $22.2B | ||
| Q2 25 | $1.6B | $21.2B | ||
| Q1 25 | $1.5B | $20.4B | ||
| Q4 24 | $1.6B | $19.9B | ||
| Q3 24 | $1.6B | $22.1B | ||
| Q2 24 | $1.6B | $21.4B | ||
| Q1 24 | $1.6B | $20.8B |
负债/权益比MYRGRUN
| Q4 25 | 0.09× | 4.69× | ||
| Q3 25 | 0.12× | 4.90× | ||
| Q2 25 | 0.15× | 4.80× | ||
| Q1 25 | 0.16× | 5.19× | ||
| Q4 24 | 0.12× | 5.05× | ||
| Q3 24 | 0.16× | 2.36× | ||
| Q2 24 | 0.07× | 2.23× | ||
| Q1 24 | 0.06× | 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 | $114.8M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $84.9M | — |
| 自由现金流率自由现金流/营收 | 8.7% | — |
| 资本支出强度资本支出/营收 | 3.1% | — |
| 现金转化率经营现金流/净利润 | 3.14× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $232.2M | — |
8季度趋势，按日历期对齐
经营现金流MYRGRUN
| Q4 25 | $114.8M | $96.9M | ||
| Q3 25 | $95.6M | $-121.5M | ||
| Q2 25 | $32.9M | $-292.7M | ||
| Q1 25 | $83.3M | $-104.2M | ||
| Q4 24 | $21.1M | $-258.4M | ||
| Q3 24 | $35.6M | $-156.2M | ||
| Q2 24 | $22.7M | $-208.5M | ||
| Q1 24 | $7.7M | $-143.1M |
自由现金流MYRGRUN
| Q4 25 | $84.9M | — | ||
| Q3 25 | $65.4M | — | ||
| Q2 25 | $11.6M | — | ||
| Q1 25 | $70.2M | — | ||
| Q4 24 | $8.8M | — | ||
| Q3 24 | $18.0M | $-156.4M | ||
| Q2 24 | $2.5M | — | ||
| Q1 24 | $-18.1M | — |
自由现金流率MYRGRUN
| Q4 25 | 8.7% | — | ||
| Q3 25 | 6.9% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 8.4% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 2.0% | -29.1% | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | -2.2% | — |
资本支出强度MYRGRUN
| Q4 25 | 3.1% | — | ||
| Q3 25 | 3.2% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 1.6% | — | ||
| Q4 24 | 1.5% | — | ||
| Q3 24 | 2.0% | 0.0% | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 3.2% | — |
现金转化率MYRGRUN
| Q4 25 | 3.14× | 0.94× | ||
| Q3 25 | 2.98× | -7.33× | ||
| Q2 25 | 1.24× | -1.05× | ||
| Q1 25 | 3.57× | -2.08× | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 3.35× | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | 0.41× | — |
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
MYRG
| Market Type Electrical Construction | $442.6M | 45% |
| Market Type Transmission | $330.3M | 34% |
| Market Type Distribution | $200.6M | 21% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
