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PINTEREST, INC.（PINS）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
PINTEREST, INC.的季度营收约是Sunrun Inc.的1.1倍（$1.3B vs $1.2B），PINTEREST, INC.净利率更高（21.0% vs 8.9%，领先12.1%），Sunrun Inc.同比增速更快（123.5% vs 14.3%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 33.5%）
Pinterest是美国社交媒体服务商，主打数字图板形式的信息发布与发现功能，用户可通过图片分享获取食谱、家居、穿搭、创意灵感等多元内容。公司由本·西尔伯曼、保罗·夏拉、埃文·夏普联合创立，总部位于旧金山。
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。
PINS vs RUN — 直观对比
营收规模更大
PINS
是对方的1.1倍
$1.2B
营收增速更快
RUN
高出109.2%
14.3%
净利率更高
PINS
高出12.1%
8.9%
两年增速更快
RUN
近两年复合增速
33.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $1.2B |
| 净利润 | $277.1M | $103.6M |
| 毛利率 | 82.8% | — |
| 营业利润率 | 22.8% | 8.4% |
| 净利率 | 21.0% | 8.9% |
| 营收同比 | 14.3% | 123.5% |
| 净利润同比 | -85.0% | 103.7% |
| 每股收益（稀释后） | $0.41 | $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PINSRUN
| Q4 25 | $1.3B | $1.2B | ||
| Q3 25 | $1.0B | $724.6M | ||
| Q2 25 | $998.2M | $569.3M | ||
| Q1 25 | $855.0M | $504.3M | ||
| Q4 24 | $1.2B | $518.5M | ||
| Q3 24 | $898.4M | $537.2M | ||
| Q2 24 | $853.7M | $523.9M | ||
| Q1 24 | $740.0M | $458.2M |
净利润PINSRUN
| Q4 25 | $277.1M | $103.6M | ||
| Q3 25 | $92.1M | $16.6M | ||
| Q2 25 | $38.8M | $279.8M | ||
| Q1 25 | $8.9M | $50.0M | ||
| Q4 24 | $1.8B | $-2.8B | ||
| Q3 24 | $30.6M | $-83.8M | ||
| Q2 24 | $8.9M | $139.1M | ||
| Q1 24 | $-24.8M | $-87.8M |
毛利率PINSRUN
| Q4 25 | 82.8% | — | ||
| Q3 25 | 79.8% | — | ||
| Q2 25 | 79.7% | — | ||
| Q1 25 | 76.7% | — | ||
| Q4 24 | 82.9% | — | ||
| Q3 24 | 79.1% | — | ||
| Q2 24 | 78.3% | — | ||
| Q1 24 | 75.5% | — |
营业利润率PINSRUN
| Q4 25 | 22.8% | 8.4% | ||
| Q3 25 | 5.6% | 0.5% | ||
| Q2 25 | -0.4% | -19.7% | ||
| Q1 25 | -4.1% | -22.8% | ||
| Q4 24 | 22.7% | -628.0% | ||
| Q3 24 | -0.7% | -23.8% | ||
| Q2 24 | -2.5% | -24.4% | ||
| Q1 24 | -7.4% | -40.0% |
净利率PINSRUN
| Q4 25 | 21.0% | 8.9% | ||
| Q3 25 | 8.8% | 2.3% | ||
| Q2 25 | 3.9% | 49.1% | ||
| Q1 25 | 1.0% | 9.9% | ||
| Q4 24 | 160.1% | -542.7% | ||
| Q3 24 | 3.4% | -15.6% | ||
| Q2 24 | 1.0% | 26.5% | ||
| Q1 24 | -3.4% | -19.2% |
每股收益（稀释后）PINSRUN
| Q4 25 | $0.41 | $0.38 | ||
| Q3 25 | $0.13 | $0.06 | ||
| Q2 25 | $0.06 | $1.07 | ||
| Q1 25 | $0.01 | $0.20 | ||
| Q4 24 | $2.66 | $-12.59 | ||
| Q3 24 | $0.04 | $-0.37 | ||
| Q2 24 | $0.01 | $0.55 | ||
| Q1 24 | $-0.04 | $-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 | $969.3M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $4.7B | $3.1B |
| 总资产 | $5.5B | $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PINSRUN
| Q4 25 | $969.3M | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.6B | — |
总债务PINSRUN
| 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PINSRUN
| Q4 25 | $4.7B | $3.1B | ||
| Q3 25 | $4.8B | $3.0B | ||
| Q2 25 | $4.8B | $2.9B | ||
| Q1 25 | $4.7B | $2.6B | ||
| Q4 24 | $4.8B | $2.6B | ||
| Q3 24 | $2.9B | $5.3B | ||
| Q2 24 | $3.2B | $5.4B | ||
| Q1 24 | $3.1B | $5.2B |
总资产PINSRUN
| Q4 25 | $5.5B | $22.6B | ||
| Q3 25 | $5.5B | $22.2B | ||
| Q2 25 | $5.4B | $21.2B | ||
| Q1 25 | $5.3B | $20.4B | ||
| Q4 24 | $5.3B | $19.9B | ||
| Q3 24 | $3.5B | $22.1B | ||
| Q2 24 | $3.7B | $21.4B | ||
| Q1 24 | $3.7B | $20.8B |
负债/权益比PINSRUN
| 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 | $391.2M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $380.4M | — |
| 自由现金流率自由现金流/营收 | 28.8% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 现金转化率经营现金流/净利润 | 1.41× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $1.3B | — |
8季度趋势，按日历期对齐
经营现金流PINSRUN
| Q4 25 | $391.2M | $96.9M | ||
| Q3 25 | $321.7M | $-121.5M | ||
| Q2 25 | $207.7M | $-292.7M | ||
| Q1 25 | $363.7M | $-104.2M | ||
| Q4 24 | $254.0M | $-258.4M | ||
| Q3 24 | $248.0M | $-156.2M | ||
| Q2 24 | $106.4M | $-208.5M | ||
| Q1 24 | $356.1M | $-143.1M |
自由现金流PINSRUN
| Q4 25 | $380.4M | — | ||
| Q3 25 | $318.4M | — | ||
| Q2 25 | $196.7M | — | ||
| Q1 25 | $356.4M | — | ||
| Q4 24 | $250.2M | — | ||
| Q3 24 | $244.1M | $-156.4M | ||
| Q2 24 | $101.6M | — | ||
| Q1 24 | $344.0M | — |
自由现金流率PINSRUN
| Q4 25 | 28.8% | — | ||
| Q3 25 | 30.3% | — | ||
| Q2 25 | 19.7% | — | ||
| Q1 25 | 41.7% | — | ||
| Q4 24 | 21.7% | — | ||
| Q3 24 | 27.2% | -29.1% | ||
| Q2 24 | 11.9% | — | ||
| Q1 24 | 46.5% | — |
资本支出强度PINSRUN
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.4% | 0.0% | ||
| Q2 24 | 0.6% | — | ||
| Q1 24 | 1.6% | — |
现金转化率PINSRUN
| Q4 25 | 1.41× | 0.94× | ||
| Q3 25 | 3.49× | -7.33× | ||
| Q2 25 | 5.36× | -1.05× | ||
| Q1 25 | 40.77× | -2.08× | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 8.12× | — | ||
| Q2 24 | 11.98× | -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
PINS
| United States And Canada | $944.3M | 72% |
| Other | $375.0M | 28% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
