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Natera, Inc.（NTRA）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Natera, Inc.的1.7倍（$1.2B vs $665.5M），Sunrun Inc.净利率更高（8.9% vs 7.1%，领先1.8%），Sunrun Inc.同比增速更快（123.5% vs 39.8%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 34.5%）
Natera是总部位于美国得克萨斯州奥斯汀的临床基因检测企业，主打无创游离DNA（cfDNA）检测技术，业务覆盖女性健康、肿瘤及器官健康三大核心赛道。其自研专利技术结合前沿分子生物学手段与生物信息学工具矩阵，可实现单管血液样本中低至单个分子级别的高灵敏度检测。
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。
NTRA vs RUN — 直观对比
营收规模更大
RUN
是对方的1.7倍
$665.5M
营收增速更快
RUN
高出83.7%
39.8%
净利率更高
RUN
高出1.8%
7.1%
两年增速更快
RUN
近两年复合增速
34.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $665.5M | $1.2B |
| 净利润 | $47.3M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | -3.4% | 8.4% |
| 净利率 | 7.1% | 8.9% |
| 营收同比 | 39.8% | 123.5% |
| 净利润同比 | 187.9% | 103.7% |
| 每股收益（稀释后） | $0.36 | $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NTRARUN
| Q4 25 | $665.5M | $1.2B | ||
| Q3 25 | $592.2M | $724.6M | ||
| Q2 25 | $546.6M | $569.3M | ||
| Q1 25 | $501.8M | $504.3M | ||
| Q4 24 | $476.1M | $518.5M | ||
| Q3 24 | $439.8M | $537.2M | ||
| Q2 24 | $413.4M | $523.9M | ||
| Q1 24 | $367.7M | $458.2M |
净利润NTRARUN
| Q4 25 | $47.3M | $103.6M | ||
| Q3 25 | $-87.5M | $16.6M | ||
| Q2 25 | $-100.9M | $279.8M | ||
| Q1 25 | $-66.9M | $50.0M | ||
| Q4 24 | $-53.8M | $-2.8B | ||
| Q3 24 | $-31.6M | $-83.8M | ||
| Q2 24 | $-37.5M | $139.1M | ||
| Q1 24 | $-67.6M | $-87.8M |
营业利润率NTRARUN
| Q4 25 | -3.4% | 8.4% | ||
| Q3 25 | -16.5% | 0.5% | ||
| Q2 25 | -20.2% | -19.7% | ||
| Q1 25 | -15.8% | -22.8% | ||
| Q4 24 | -13.6% | -628.0% | ||
| Q3 24 | -8.9% | -23.8% | ||
| Q2 24 | -10.6% | -24.4% | ||
| Q1 24 | -20.2% | -40.0% |
净利率NTRARUN
| Q4 25 | 7.1% | 8.9% | ||
| Q3 25 | -14.8% | 2.3% | ||
| Q2 25 | -18.5% | 49.1% | ||
| Q1 25 | -13.3% | 9.9% | ||
| Q4 24 | -11.3% | -542.7% | ||
| Q3 24 | -7.2% | -15.6% | ||
| Q2 24 | -9.1% | 26.5% | ||
| Q1 24 | -18.4% | -19.2% |
每股收益（稀释后）NTRARUN
| Q4 25 | $0.36 | $0.38 | ||
| Q3 25 | $-0.64 | $0.06 | ||
| Q2 25 | $-0.74 | $1.07 | ||
| Q1 25 | $-0.50 | $0.20 | ||
| Q4 24 | $-0.41 | $-12.59 | ||
| Q3 24 | $-0.26 | $-0.37 | ||
| Q2 24 | $-0.30 | $0.55 | ||
| Q1 24 | $-0.56 | $-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 | — | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $1.7B | $3.1B |
| 总资产 | $2.4B | $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NTRARUN
| Q4 25 | — | — | ||
| Q3 25 | $1.0M | — | ||
| Q2 25 | $16.0M | — | ||
| Q1 25 | $17.8M | — | ||
| Q4 24 | $22.7M | — | ||
| Q3 24 | $29.5M | — | ||
| Q2 24 | $90.3M | — | ||
| Q1 24 | $69.1M | — |
总债务NTRARUN
| 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NTRARUN
| Q4 25 | $1.7B | $3.1B | ||
| Q3 25 | $1.3B | $3.0B | ||
| Q2 25 | $1.2B | $2.9B | ||
| Q1 25 | $1.2B | $2.6B | ||
| Q4 24 | $1.2B | $2.6B | ||
| Q3 24 | $878.5M | $5.3B | ||
| Q2 24 | $836.5M | $5.4B | ||
| Q1 24 | $794.1M | $5.2B |
总资产NTRARUN
| Q4 25 | $2.4B | $22.6B | ||
| Q3 25 | $1.8B | $22.2B | ||
| Q2 25 | $1.8B | $21.2B | ||
| Q1 25 | $1.7B | $20.4B | ||
| Q4 24 | $1.7B | $19.9B | ||
| Q3 24 | $1.6B | $22.1B | ||
| Q2 24 | $1.5B | $21.4B | ||
| Q1 24 | $1.5B | $20.8B |
负债/权益比NTRARUN
| 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 | $73.9M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $37.8M | — |
| 自由现金流率自由现金流/营收 | 5.7% | — |
| 资本支出强度资本支出/营收 | 5.4% | — |
| 现金转化率经营现金流/净利润 | 1.56× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $109.1M | — |
8季度趋势，按日历期对齐
经营现金流NTRARUN
| Q4 25 | $73.9M | $96.9M | ||
| Q3 25 | $59.4M | $-121.5M | ||
| Q2 25 | $37.6M | $-292.7M | ||
| Q1 25 | $44.5M | $-104.2M | ||
| Q4 24 | $52.9M | $-258.4M | ||
| Q3 24 | $51.8M | $-156.2M | ||
| Q2 24 | $4.0M | $-208.5M | ||
| Q1 24 | $27.0M | $-143.1M |
自由现金流NTRARUN
| Q4 25 | $37.8M | — | ||
| Q3 25 | $37.0M | — | ||
| Q2 25 | $11.7M | — | ||
| Q1 25 | $22.6M | — | ||
| Q4 24 | $34.8M | — | ||
| Q3 24 | $35.5M | $-156.4M | ||
| Q2 24 | $-7.7M | — | ||
| Q1 24 | $6.7M | — |
自由现金流率NTRARUN
| Q4 25 | 5.7% | — | ||
| Q3 25 | 6.2% | — | ||
| Q2 25 | 2.1% | — | ||
| Q1 25 | 4.5% | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 8.1% | -29.1% | ||
| Q2 24 | -1.9% | — | ||
| Q1 24 | 1.8% | — |
资本支出强度NTRARUN
| Q4 25 | 5.4% | — | ||
| Q3 25 | 3.8% | — | ||
| Q2 25 | 4.7% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 3.8% | — | ||
| Q3 24 | 3.7% | 0.0% | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 5.5% | — |
现金转化率NTRARUN
| Q4 25 | 1.56× | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | — | — |
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
NTRA
暂无分部数据
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
