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Insulet Corporation（PODD）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Insulet Corporation的1.5倍（$1.2B vs $783.7M），Insulet Corporation净利率更高（13.0% vs 8.9%，领先4.0%），Sunrun Inc.同比增速更快（123.5% vs 31.2%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 33.2%）
Insulet Corporation是深耕糖尿病治疗领域的医疗器械企业，核心产品为胰岛素泵，通过持续皮下输注胰岛素的疗法为患者给药。其产品通常由泵主体、一次性胰岛素储药仓，以及包含皮下植入套管和连接管路的一次性输注套件构成，满足不同患者的治疗需求。
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。
PODD vs RUN — 直观对比
营收规模更大
RUN
是对方的1.5倍
$783.7M
营收增速更快
RUN
高出92.3%
31.2%
净利率更高
PODD
高出4.0%
8.9%
两年增速更快
RUN
近两年复合增速
33.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $783.7M | $1.2B |
| 净利润 | $101.6M | $103.6M |
| 毛利率 | 72.6% | — |
| 营业利润率 | 18.7% | 8.4% |
| 净利率 | 13.0% | 8.9% |
| 营收同比 | 31.2% | 123.5% |
| 净利润同比 | 0.9% | 103.7% |
| 每股收益（稀释后） | $1.42 | $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PODDRUN
| Q4 25 | $783.7M | $1.2B | ||
| Q3 25 | $706.3M | $724.6M | ||
| Q2 25 | $649.1M | $569.3M | ||
| Q1 25 | $569.0M | $504.3M | ||
| Q4 24 | $597.5M | $518.5M | ||
| Q3 24 | $543.9M | $537.2M | ||
| Q2 24 | $488.5M | $523.9M | ||
| Q1 24 | $441.7M | $458.2M |
净利润PODDRUN
| Q4 25 | $101.6M | $103.6M | ||
| Q3 25 | $87.6M | $16.6M | ||
| Q2 25 | $22.5M | $279.8M | ||
| Q1 25 | $35.4M | $50.0M | ||
| Q4 24 | $100.7M | $-2.8B | ||
| Q3 24 | $77.5M | $-83.8M | ||
| Q2 24 | $188.6M | $139.1M | ||
| Q1 24 | $51.5M | $-87.8M |
毛利率PODDRUN
| Q4 25 | 72.6% | — | ||
| Q3 25 | 72.2% | — | ||
| Q2 25 | 69.7% | — | ||
| Q1 25 | 71.9% | — | ||
| Q4 24 | 72.1% | — | ||
| Q3 24 | 69.3% | — | ||
| Q2 24 | 67.7% | — | ||
| Q1 24 | 69.5% | — |
营业利润率PODDRUN
| Q4 25 | 18.7% | 8.4% | ||
| Q3 25 | 16.7% | 0.5% | ||
| Q2 25 | 18.7% | -19.7% | ||
| Q1 25 | 15.6% | -22.8% | ||
| Q4 24 | 18.3% | -628.0% | ||
| Q3 24 | 16.2% | -23.8% | ||
| Q2 24 | 11.2% | -24.4% | ||
| Q1 24 | 12.9% | -40.0% |
净利率PODDRUN
| Q4 25 | 13.0% | 8.9% | ||
| Q3 25 | 12.4% | 2.3% | ||
| Q2 25 | 3.5% | 49.1% | ||
| Q1 25 | 6.2% | 9.9% | ||
| Q4 24 | 16.9% | -542.7% | ||
| Q3 24 | 14.2% | -15.6% | ||
| Q2 24 | 38.6% | 26.5% | ||
| Q1 24 | 11.7% | -19.2% |
每股收益（稀释后）PODDRUN
| Q4 25 | $1.42 | $0.38 | ||
| Q3 25 | $1.24 | $0.06 | ||
| Q2 25 | $0.32 | $1.07 | ||
| Q1 25 | $0.50 | $0.20 | ||
| Q4 24 | $1.38 | $-12.59 | ||
| Q3 24 | $1.08 | $-0.37 | ||
| Q2 24 | $2.59 | $0.55 | ||
| Q1 24 | $0.73 | $-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 | $930.8M | $14.7B |
| 股东权益账面价值 | $1.5B | $3.1B |
| 总资产 | $3.2B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.61× | 4.69× |
8季度趋势，按日历期对齐
总债务PODDRUN
| Q4 25 | $930.8M | $14.7B | ||
| Q3 25 | $934.9M | $14.6B | ||
| Q2 25 | $939.0M | $14.0B | ||
| Q1 25 | $1.6B | $13.6B | ||
| Q4 24 | $1.3B | $12.9B | ||
| Q3 24 | $1.4B | $12.5B | ||
| Q2 24 | $1.4B | $12.0B | ||
| Q1 24 | $1.4B | $11.1B |
股东权益PODDRUN
| Q4 25 | $1.5B | $3.1B | ||
| Q3 25 | $1.4B | $3.0B | ||
| Q2 25 | $1.5B | $2.9B | ||
| Q1 25 | $1.3B | $2.6B | ||
| Q4 24 | $1.2B | $2.6B | ||
| Q3 24 | $1.1B | $5.3B | ||
| Q2 24 | $998.4M | $5.4B | ||
| Q1 24 | $790.7M | $5.2B |
总资产PODDRUN
| Q4 25 | $3.2B | $22.6B | ||
| Q3 25 | $3.0B | $22.2B | ||
| Q2 25 | $3.5B | $21.2B | ||
| Q1 25 | $3.5B | $20.4B | ||
| Q4 24 | $3.1B | $19.9B | ||
| Q3 24 | $3.0B | $22.1B | ||
| Q2 24 | $2.9B | $21.4B | ||
| Q1 24 | $2.6B | $20.8B |
负债/权益比PODDRUN
| Q4 25 | 0.61× | 4.69× | ||
| Q3 25 | 0.68× | 4.90× | ||
| Q2 25 | 0.64× | 4.80× | ||
| Q1 25 | 1.21× | 5.19× | ||
| Q4 24 | 1.07× | 5.05× | ||
| Q3 24 | 1.21× | 2.36× | ||
| Q2 24 | 1.36× | 2.23× | ||
| Q1 24 | 1.72× | 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 | $183.3M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $48.2M | — |
| 自由现金流率自由现金流/营收 | 6.2% | — |
| 资本支出强度资本支出/营收 | 17.2% | — |
| 现金转化率经营现金流/净利润 | 1.80× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $377.7M | — |
8季度趋势，按日历期对齐
经营现金流PODDRUN
| Q4 25 | $183.3M | $96.9M | ||
| Q3 25 | $125.7M | $-121.5M | ||
| Q2 25 | $196.5M | $-292.7M | ||
| Q1 25 | $63.8M | $-104.2M | ||
| Q4 24 | $147.7M | $-258.4M | ||
| Q3 24 | $98.5M | $-156.2M | ||
| Q2 24 | $96.5M | $-208.5M | ||
| Q1 24 | $87.6M | $-143.1M |
自由现金流PODDRUN
| Q4 25 | $48.2M | — | ||
| Q3 25 | $100.1M | — | ||
| Q2 25 | $177.9M | — | ||
| Q1 25 | $51.5M | — | ||
| Q4 24 | $94.1M | — | ||
| Q3 24 | $71.8M | $-156.4M | ||
| Q2 24 | $74.0M | — | ||
| Q1 24 | $65.5M | — |
自由现金流率PODDRUN
| Q4 25 | 6.2% | — | ||
| Q3 25 | 14.2% | — | ||
| Q2 25 | 27.4% | — | ||
| Q1 25 | 9.1% | — | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 13.2% | -29.1% | ||
| Q2 24 | 15.1% | — | ||
| Q1 24 | 14.8% | — |
资本支出强度PODDRUN
| Q4 25 | 17.2% | — | ||
| Q3 25 | 3.6% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 9.0% | — | ||
| Q3 24 | 4.9% | 0.0% | ||
| Q2 24 | 4.6% | — | ||
| Q1 24 | 5.0% | — |
现金转化率PODDRUN
| Q4 25 | 1.80× | 0.94× | ||
| Q3 25 | 1.43× | -7.33× | ||
| Q2 25 | 8.73× | -1.05× | ||
| Q1 25 | 1.80× | -2.08× | ||
| Q4 24 | 1.47× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 0.51× | -1.50× | ||
| Q1 24 | 1.70× | — |
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
PODD
| U.S.Omnipod | $567.8M | 72% |
| International Omnipod | $214.0M | 27% |
| Drug Delivery | $1.9M | 0% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
