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Public Service Enterprise Group（PEG）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
Public Service Enterprise Group的季度营收约是Sunrun Inc.的1.3倍（$1.5B vs $1.2B），Public Service Enterprise Group净利率更高（50.6% vs 8.9%，领先41.7%），Sunrun Inc.同比增速更快（123.5% vs 7.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -22.3%）
PSEG（Public Service Enterprise Group）是一家公开上市的能源企业，1985年正式成立，发展渊源可追溯至1903年，自创立以来总部始终位于美国新泽西州纽瓦克市，深耕能源领域多年，在北美能源市场拥有稳定的行业地位与市场份额。
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。
PEG vs RUN — 直观对比
营收规模更大
PEG
是对方的1.3倍
$1.2B
营收增速更快
RUN
高出116.5%
7.0%
净利率更高
PEG
高出41.7%
8.9%
两年增速更快
RUN
近两年复合增速
-22.3%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.2B |
| 净利润 | $741.0M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 73.4% | 8.4% |
| 净利率 | 50.6% | 8.9% |
| 营收同比 | 7.0% | 123.5% |
| 净利润同比 | 25.8% | 103.7% |
| 每股收益（稀释后） | — | $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PEGRUN
| Q1 26 | $1.5B | — | ||
| Q4 25 | $2.9B | $1.2B | ||
| Q3 25 | $3.2B | $724.6M | ||
| Q2 25 | $2.8B | $569.3M | ||
| Q1 25 | $3.2B | $504.3M | ||
| Q4 24 | $2.5B | $518.5M | ||
| Q3 24 | $2.6B | $537.2M | ||
| Q2 24 | $2.4B | $523.9M |
净利润PEGRUN
| Q1 26 | $741.0M | — | ||
| Q4 25 | $315.0M | $103.6M | ||
| Q3 25 | $622.0M | $16.6M | ||
| Q2 25 | $585.0M | $279.8M | ||
| Q1 25 | $589.0M | $50.0M | ||
| Q4 24 | $286.0M | $-2.8B | ||
| Q3 24 | $520.0M | $-83.8M | ||
| Q2 24 | $434.0M | $139.1M |
营业利润率PEGRUN
| Q1 26 | 73.4% | — | ||
| Q4 25 | 17.5% | 8.4% | ||
| Q3 25 | 26.5% | 0.5% | ||
| Q2 25 | 29.1% | -19.7% | ||
| Q1 25 | 24.7% | -22.8% | ||
| Q4 24 | 18.1% | -628.0% | ||
| Q3 24 | 24.3% | -23.8% | ||
| Q2 24 | 24.0% | -24.4% |
净利率PEGRUN
| Q1 26 | 50.6% | — | ||
| Q4 25 | 10.8% | 8.9% | ||
| Q3 25 | 19.3% | 2.3% | ||
| Q2 25 | 20.9% | 49.1% | ||
| Q1 25 | 18.3% | 9.9% | ||
| Q4 24 | 11.6% | -542.7% | ||
| Q3 24 | 19.7% | -15.6% | ||
| Q2 24 | 17.9% | 26.5% |
每股收益（稀释后）PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | $0.63 | $0.38 | ||
| Q3 25 | $1.24 | $0.06 | ||
| Q2 25 | $1.17 | $1.07 | ||
| Q1 25 | $1.18 | $0.20 | ||
| Q4 24 | $0.57 | $-12.59 | ||
| Q3 24 | $1.04 | $-0.37 | ||
| Q2 24 | $0.87 | $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 | — | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $17.3M | $3.1B |
| 总资产 | — | $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PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | $132.0M | — | ||
| Q3 25 | $334.0M | — | ||
| Q2 25 | $186.0M | — | ||
| Q1 25 | $894.0M | — | ||
| Q4 24 | $125.0M | — | ||
| Q3 24 | $203.0M | — | ||
| Q2 24 | $113.0M | — |
总债务PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | $22.5B | $14.7B | ||
| Q3 25 | $22.5B | $14.6B | ||
| Q2 25 | $22.6B | $14.0B | ||
| Q1 25 | $23.0B | $13.6B | ||
| Q4 24 | $21.1B | $12.9B | ||
| Q3 24 | $21.4B | $12.5B | ||
| Q2 24 | $20.5B | $12.0B |
股东权益PEGRUN
| Q1 26 | $17.3M | — | ||
| Q4 25 | $17.0B | $3.1B | ||
| Q3 25 | $17.0B | $3.0B | ||
| Q2 25 | $16.7B | $2.9B | ||
| Q1 25 | $16.4B | $2.6B | ||
| Q4 24 | $16.1B | $2.6B | ||
| Q3 24 | $16.1B | $5.3B | ||
| Q2 24 | $15.8B | $5.4B |
总资产PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | $57.6B | $22.6B | ||
| Q3 25 | $56.9B | $22.2B | ||
| Q2 25 | $56.0B | $21.2B | ||
| Q1 25 | $55.6B | $20.4B | ||
| Q4 24 | $54.6B | $19.9B | ||
| Q3 24 | $54.1B | $22.1B | ||
| Q2 24 | $52.4B | $21.4B |
负债/权益比PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | 1.33× | 4.69× | ||
| Q3 25 | 1.33× | 4.90× | ||
| Q2 25 | 1.36× | 4.80× | ||
| Q1 25 | 1.40× | 5.19× | ||
| Q4 24 | 1.31× | 5.05× | ||
| Q3 24 | 1.33× | 2.36× | ||
| Q2 24 | 1.30× | 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 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | $721.0M | $96.9M | ||
| Q3 25 | $1.1B | $-121.5M | ||
| Q2 25 | $478.0M | $-292.7M | ||
| Q1 25 | $1.0B | $-104.2M | ||
| Q4 24 | $367.0M | $-258.4M | ||
| Q3 24 | $623.0M | $-156.2M | ||
| Q2 24 | $482.0M | $-208.5M |
自由现金流PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | $-408.0M | — | ||
| Q3 25 | $322.0M | — | ||
| Q2 25 | $-309.0M | — | ||
| Q1 25 | $421.0M | — | ||
| Q4 24 | $-611.0M | — | ||
| Q3 24 | $-145.0M | $-156.4M | ||
| Q2 24 | $-355.0M | — |
自由现金流率PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | -14.0% | — | ||
| Q3 25 | 10.0% | — | ||
| Q2 25 | -11.0% | — | ||
| Q1 25 | 13.1% | — | ||
| Q4 24 | -24.8% | — | ||
| Q3 24 | -5.5% | -29.1% | ||
| Q2 24 | -14.7% | — |
资本支出强度PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | 38.7% | — | ||
| Q3 25 | 22.6% | — | ||
| Q2 25 | 28.1% | — | ||
| Q1 25 | 19.5% | — | ||
| Q4 24 | 39.7% | — | ||
| Q3 24 | 29.1% | 0.0% | ||
| Q2 24 | 34.5% | — |
现金转化率PEGRUN
| Q1 26 | — | — | ||
| Q4 25 | 2.29× | 0.94× | ||
| Q3 25 | 1.69× | -7.33× | ||
| Q2 25 | 0.82× | -1.05× | ||
| Q1 25 | 1.78× | -2.08× | ||
| Q4 24 | 1.28× | — | ||
| Q3 24 | 1.20× | — | ||
| Q2 24 | 1.11× | -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
PEG
| Residential Sales | $792.0M | 54% |
| Commercial & Industrial | $511.0M | 35% |
| Other | $161.0M | 11% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
