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NEWMARK GROUP, INC.（NMRK）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NEWMARK GROUP, INC.的1.4倍（$1.2B vs $846.5M），Sunrun Inc.净利率更高（8.9% vs 0.3%，领先8.7%），Sunrun Inc.同比增速更快（123.5% vs 27.2%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 26.7%）
纽马克集团是一家总部位于纽约的全球性商业地产咨询及服务企业，旗下业务以Newmark品牌开展，在纳斯达克全球精选市场上市，股票代码为NMRK，为全球客户提供商业地产领域的多元专业服务。
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。
NMRK vs RUN — 直观对比
营收规模更大
RUN
是对方的1.4倍
$846.5M
营收增速更快
RUN
高出96.3%
27.2%
净利率更高
RUN
高出8.7%
0.3%
两年增速更快
RUN
近两年复合增速
26.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $846.5M | $1.2B |
| 净利润 | $2.2M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 3.1% | 8.4% |
| 净利率 | 0.3% | 8.9% |
| 营收同比 | 27.2% | 123.5% |
| 净利润同比 | 130.6% | 103.7% |
| 每股收益（稀释后） | $0.08 | $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NMRKRUN
| Q1 26 | $846.5M | — | ||
| Q4 25 | $859.5M | $1.2B | ||
| Q3 25 | $715.0M | $724.6M | ||
| Q2 25 | $639.6M | $569.3M | ||
| Q1 25 | $556.2M | $504.3M | ||
| Q4 24 | $727.5M | $518.5M | ||
| Q3 24 | $568.0M | $537.2M | ||
| Q2 24 | $527.3M | $523.9M |
净利润NMRKRUN
| Q1 26 | $2.2M | — | ||
| Q4 25 | $68.0M | $103.6M | ||
| Q3 25 | $46.2M | $16.6M | ||
| Q2 25 | $20.8M | $279.8M | ||
| Q1 25 | $-8.8M | $50.0M | ||
| Q4 24 | $45.4M | $-2.8B | ||
| Q3 24 | $17.8M | $-83.8M | ||
| Q2 24 | $14.3M | $139.1M |
营业利润率NMRKRUN
| Q1 26 | 3.1% | — | ||
| Q4 25 | 14.4% | 8.4% | ||
| Q3 25 | 11.9% | 0.5% | ||
| Q2 25 | 6.7% | -19.7% | ||
| Q1 25 | -3.1% | -22.8% | ||
| Q4 24 | 14.3% | -628.0% | ||
| Q3 24 | 7.2% | -23.8% | ||
| Q2 24 | 7.7% | -24.4% |
净利率NMRKRUN
| Q1 26 | 0.3% | — | ||
| Q4 25 | 7.9% | 8.9% | ||
| Q3 25 | 6.5% | 2.3% | ||
| Q2 25 | 3.3% | 49.1% | ||
| Q1 25 | -1.6% | 9.9% | ||
| Q4 24 | 6.2% | -542.7% | ||
| Q3 24 | 3.1% | -15.6% | ||
| Q2 24 | 2.7% | 26.5% |
每股收益（稀释后）NMRKRUN
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.37 | $0.38 | ||
| Q3 25 | $0.25 | $0.06 | ||
| Q2 25 | $0.11 | $1.07 | ||
| Q1 25 | $-0.05 | $0.20 | ||
| Q4 24 | $0.25 | $-12.59 | ||
| Q3 24 | $0.10 | $-0.37 | ||
| Q2 24 | $0.08 | $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 | $212.1M | — |
| 总债务越低越好 | $832.0M | $14.7B |
| 股东权益账面价值 | — | $3.1B |
| 总资产 | $5.3B | $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NMRKRUN
| Q1 26 | $212.1M | — | ||
| Q4 25 | $229.1M | — | ||
| Q3 25 | $224.1M | — | ||
| Q2 25 | $195.8M | — | ||
| Q1 25 | $157.1M | — | ||
| Q4 24 | $197.7M | — | ||
| Q3 24 | $178.6M | — | ||
| Q2 24 | $176.4M | — |
总债务NMRKRUN
| Q1 26 | $832.0M | — | ||
| Q4 25 | $671.7M | $14.7B | ||
| Q3 25 | $746.5M | $14.6B | ||
| Q2 25 | $871.2M | $14.0B | ||
| Q1 25 | $770.9M | $13.6B | ||
| Q4 24 | $670.7M | $12.9B | ||
| Q3 24 | $770.4M | $12.5B | ||
| Q2 24 | $745.2M | $12.0B |
股东权益NMRKRUN
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $3.1B | ||
| Q3 25 | $1.4B | $3.0B | ||
| Q2 25 | $1.3B | $2.9B | ||
| Q1 25 | $1.3B | $2.6B | ||
| Q4 24 | $1.2B | $2.6B | ||
| Q3 24 | $1.2B | $5.3B | ||
| Q2 24 | $1.2B | $5.4B |
总资产NMRKRUN
| Q1 26 | $5.3B | — | ||
| Q4 25 | $5.0B | $22.6B | ||
| Q3 25 | $5.5B | $22.2B | ||
| Q2 25 | $5.4B | $21.2B | ||
| Q1 25 | $4.8B | $20.4B | ||
| Q4 24 | $4.7B | $19.9B | ||
| Q3 24 | $5.0B | $22.1B | ||
| Q2 24 | $4.8B | $21.4B |
负债/权益比NMRKRUN
| Q1 26 | — | — | ||
| Q4 25 | 0.46× | 4.69× | ||
| Q3 25 | 0.55× | 4.90× | ||
| Q2 25 | 0.68× | 4.80× | ||
| Q1 25 | 0.58× | 5.19× | ||
| Q4 24 | 0.56× | 5.05× | ||
| Q3 24 | 0.66× | 2.36× | ||
| Q2 24 | 0.62× | 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 | $-257.8M | — |
| 自由现金流率自由现金流/营收 | -30.5% | — |
| 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 | — | 0.94× |
| 过去12个月自由现金流最近4个季度 | $69.7M | — |
8季度趋势，按日历期对齐
经营现金流NMRKRUN
| Q1 26 | — | — | ||
| Q4 25 | $618.5M | $96.9M | ||
| Q3 25 | $112.6M | $-121.5M | ||
| Q2 25 | $-379.7M | $-292.7M | ||
| Q1 25 | $-179.4M | $-104.2M | ||
| Q4 24 | $402.6M | $-258.4M | ||
| Q3 24 | $-85.2M | $-156.2M | ||
| Q2 24 | $-258.5M | $-208.5M |
自由现金流NMRKRUN
| Q1 26 | $-257.8M | — | ||
| Q4 25 | $608.8M | — | ||
| Q3 25 | $104.9M | — | ||
| Q2 25 | $-386.2M | — | ||
| Q1 25 | $-184.8M | — | ||
| Q4 24 | $396.6M | — | ||
| Q3 24 | $-94.4M | $-156.4M | ||
| Q2 24 | $-267.8M | — |
自由现金流率NMRKRUN
| Q1 26 | -30.5% | — | ||
| Q4 25 | 70.8% | — | ||
| Q3 25 | 14.7% | — | ||
| Q2 25 | -60.4% | — | ||
| Q1 25 | -33.2% | — | ||
| Q4 24 | 54.5% | — | ||
| Q3 24 | -16.6% | -29.1% | ||
| Q2 24 | -50.8% | — |
资本支出强度NMRKRUN
| Q1 26 | — | — | ||
| Q4 25 | 1.1% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 1.6% | 0.0% | ||
| Q2 24 | 1.8% | — |
现金转化率NMRKRUN
| Q1 26 | — | — | ||
| Q4 25 | 9.10× | 0.94× | ||
| Q3 25 | 2.44× | -7.33× | ||
| Q2 25 | -18.24× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | 8.86× | — | ||
| Q3 24 | -4.79× | — | ||
| Q2 24 | -18.10× | -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
NMRK
| Management Services, Servicing Fees and Other | $344.0M | 41% |
| Capital Markets | $252.5M | 30% |
| Leasing and Other Commissions | $250.0M | 30% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
