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EPLUS INC（PLUS）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EPLUS INC的1.9倍（$1.2B vs $614.8M），Sunrun Inc.净利率更高（8.9% vs 5.7%，领先3.2%），Sunrun Inc.同比增速更快（123.5% vs 20.3%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 2.3%）
ePlus Inc.是美国的科技咨询解决方案提供商，业务覆盖网络安全、云计算、网络架构、协作办公、人工智能及前沿技术领域，为超5000家客户提供定制化解决方案、专业咨询与托管服务，助力企业实现数字化转型与技术升级。
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。
PLUS vs RUN — 直观对比
营收规模更大
RUN
是对方的1.9倍
$614.8M
营收增速更快
RUN
高出103.2%
20.3%
净利率更高
RUN
高出3.2%
5.7%
两年增速更快
RUN
近两年复合增速
2.3%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $614.8M | $1.2B |
| 净利润 | $35.1M | $103.6M |
| 毛利率 | 25.8% | — |
| 营业利润率 | 7.1% | 8.4% |
| 净利率 | 5.7% | 8.9% |
| 营收同比 | 20.3% | 123.5% |
| 净利润同比 | 45.2% | 103.7% |
| 每股收益（稀释后） | $1.33 | $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PLUSRUN
| Q4 25 | $614.8M | $1.2B | ||
| Q3 25 | $608.8M | $724.6M | ||
| Q2 25 | $637.3M | $569.3M | ||
| Q1 25 | — | $504.3M | ||
| Q4 24 | $493.2M | $518.5M | ||
| Q3 24 | $493.4M | $537.2M | ||
| Q2 24 | $535.7M | $523.9M | ||
| Q1 24 | — | $458.2M |
净利润PLUSRUN
| Q4 25 | $35.1M | $103.6M | ||
| Q3 25 | $34.9M | $16.6M | ||
| Q2 25 | $37.7M | $279.8M | ||
| Q1 25 | — | $50.0M | ||
| Q4 24 | $24.1M | $-2.8B | ||
| Q3 24 | $31.3M | $-83.8M | ||
| Q2 24 | $27.3M | $139.1M | ||
| Q1 24 | — | $-87.8M |
毛利率PLUSRUN
| Q4 25 | 25.8% | — | ||
| Q3 25 | 26.6% | — | ||
| Q2 25 | 23.3% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 25.4% | — | ||
| Q3 24 | 25.8% | — | ||
| Q2 24 | 23.7% | — | ||
| Q1 24 | — | — |
营业利润率PLUSRUN
| Q4 25 | 7.1% | 8.4% | ||
| Q3 25 | 8.0% | 0.5% | ||
| Q2 25 | 5.7% | -19.7% | ||
| Q1 25 | — | -22.8% | ||
| Q4 24 | 3.3% | -628.0% | ||
| Q3 24 | 5.5% | -23.8% | ||
| Q2 24 | 5.9% | -24.4% | ||
| Q1 24 | — | -40.0% |
净利率PLUSRUN
| Q4 25 | 5.7% | 8.9% | ||
| Q3 25 | 5.7% | 2.3% | ||
| Q2 25 | 5.9% | 49.1% | ||
| Q1 25 | — | 9.9% | ||
| Q4 24 | 4.9% | -542.7% | ||
| Q3 24 | 6.3% | -15.6% | ||
| Q2 24 | 5.1% | 26.5% | ||
| Q1 24 | — | -19.2% |
每股收益（稀释后）PLUSRUN
| Q4 25 | $1.33 | $0.38 | ||
| Q3 25 | $1.32 | $0.06 | ||
| Q2 25 | $1.43 | $1.07 | ||
| Q1 25 | — | $0.20 | ||
| Q4 24 | $0.91 | $-12.59 | ||
| Q3 24 | $1.17 | $-0.37 | ||
| Q2 24 | $1.02 | $0.55 | ||
| Q1 24 | — | $-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 | $326.3M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $1.1B | $3.1B |
| 总资产 | $1.8B | $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PLUSRUN
| Q4 25 | $326.3M | — | ||
| Q3 25 | $402.2M | — | ||
| Q2 25 | $480.2M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $253.1M | — | ||
| Q3 24 | $187.5M | — | ||
| Q2 24 | $349.9M | — | ||
| Q1 24 | — | — |
总债务PLUSRUN
| 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PLUSRUN
| Q4 25 | $1.1B | $3.1B | ||
| Q3 25 | $1.0B | $3.0B | ||
| Q2 25 | $1.0B | $2.9B | ||
| Q1 25 | — | $2.6B | ||
| Q4 24 | $962.3M | $2.6B | ||
| Q3 24 | $947.0M | $5.3B | ||
| Q2 24 | $921.9M | $5.4B | ||
| Q1 24 | — | $5.2B |
总资产PLUSRUN
| Q4 25 | $1.8B | $22.6B | ||
| Q3 25 | $1.8B | $22.2B | ||
| Q2 25 | $1.8B | $21.2B | ||
| Q1 25 | — | $20.4B | ||
| Q4 24 | $1.8B | $19.9B | ||
| Q3 24 | $1.7B | $22.1B | ||
| Q2 24 | $1.7B | $21.4B | ||
| Q1 24 | — | $20.8B |
负债/权益比PLUSRUN
| 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 | $-87.4M | $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 | -2.49× | 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PLUSRUN
| Q4 25 | $-87.4M | $96.9M | ||
| Q3 25 | $-34.8M | $-121.5M | ||
| Q2 25 | $-99.0M | $-292.7M | ||
| Q1 25 | — | $-104.2M | ||
| Q4 24 | $65.7M | $-258.4M | ||
| Q3 24 | $-21.6M | $-156.2M | ||
| Q2 24 | $97.1M | $-208.5M | ||
| Q1 24 | — | $-143.1M |
自由现金流PLUSRUN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-156.4M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率PLUSRUN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -29.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度PLUSRUN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率PLUSRUN
| Q4 25 | -2.49× | 0.94× | ||
| Q3 25 | -1.00× | -7.33× | ||
| Q2 25 | -2.63× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | 2.72× | — | ||
| Q3 24 | -0.69× | — | ||
| Q2 24 | 3.55× | -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
PLUS
| All Others Customer End Market | $107.0M | 17% |
| Technology Customer End Market | $89.4M | 15% |
| Health Care Customer End Market | $81.5M | 13% |
| Financial Services Customer End Market | $66.1M | 11% |
| Professional Services Reporting Unit | $64.1M | 10% |
| Security | $61.1M | 10% |
| State And Local Government And Educational Institutions | $59.9M | 10% |
| Managed Services Reporting Unit | $48.8M | 8% |
| Other Product | $21.1M | 3% |
| Collaboration | $13.4M | 2% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
