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帕森斯公司（PSN）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
帕森斯公司的季度营收约是Sunrun Inc.的1.3倍（$1.5B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs 3.5%，领先5.4%），Sunrun Inc.同比增速更快（123.5% vs 3.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -5.5%）
帕森斯公司是一家总部位于美国弗吉尼亚州尚蒂利的跨国企业，1944年成立，核心业务覆盖国防、情报、基础设施工程领域，深耕技术研发，在全球30多个国家为政府及私营部门客户提供专业解决方案。
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。
PSN vs RUN — 直观对比
营收规模更大
PSN
是对方的1.3倍
$1.2B
营收增速更快
RUN
高出120.5%
3.0%
净利率更高
RUN
高出5.4%
3.5%
两年增速更快
RUN
近两年复合增速
-5.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.5B | $1.2B |
| 净利润 | $52.9M | $103.6M |
| 毛利率 | — | — |
| 营业利润率 | 6.4% | 8.4% |
| 净利率 | 3.5% | 8.9% |
| 营收同比 | 3.0% | 123.5% |
| 净利润同比 | -20.1% | 103.7% |
| 每股收益（稀释后） | $0.49 | $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PSNRUN
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.6B | $1.2B | ||
| Q3 25 | $1.6B | $724.6M | ||
| Q2 25 | $1.6B | $569.3M | ||
| Q1 25 | $1.6B | $504.3M | ||
| Q4 24 | $1.7B | $518.5M | ||
| Q3 24 | $1.8B | $537.2M | ||
| Q2 24 | $1.7B | $523.9M |
净利润PSNRUN
| Q1 26 | $52.9M | — | ||
| Q4 25 | $55.6M | $103.6M | ||
| Q3 25 | $64.1M | $16.6M | ||
| Q2 25 | $55.2M | $279.8M | ||
| Q1 25 | $66.2M | $50.0M | ||
| Q4 24 | $201.3M | $-2.8B | ||
| Q3 24 | $72.0M | $-83.8M | ||
| Q2 24 | $69.2M | $139.1M |
毛利率PSNRUN
| Q1 26 | — | — | ||
| Q4 25 | 23.0% | — | ||
| Q3 25 | 22.2% | — | ||
| Q2 25 | 22.0% | — | ||
| Q1 25 | 22.8% | — | ||
| Q4 24 | 21.3% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 21.0% | — |
营业利润率PSNRUN
| Q1 26 | 6.4% | — | ||
| Q4 25 | 6.6% | 8.4% | ||
| Q3 25 | 6.7% | 0.5% | ||
| Q2 25 | 6.0% | -19.7% | ||
| Q1 25 | 7.0% | -22.8% | ||
| Q4 24 | 5.8% | -628.0% | ||
| Q3 24 | 6.4% | -23.8% | ||
| Q2 24 | 6.7% | -24.4% |
净利率PSNRUN
| Q1 26 | 3.5% | — | ||
| Q4 25 | 3.5% | 8.9% | ||
| Q3 25 | 4.0% | 2.3% | ||
| Q2 25 | 3.5% | 49.1% | ||
| Q1 25 | 4.3% | 9.9% | ||
| Q4 24 | 11.6% | -542.7% | ||
| Q3 24 | 4.0% | -15.6% | ||
| Q2 24 | 4.1% | 26.5% |
每股收益（稀释后）PSNRUN
| Q1 26 | $0.49 | — | ||
| Q4 25 | $0.51 | $0.38 | ||
| Q3 25 | $0.59 | $0.06 | ||
| Q2 25 | $0.50 | $1.07 | ||
| Q1 25 | $0.60 | $0.20 | ||
| Q4 24 | $1.85 | $-12.59 | ||
| Q3 24 | $0.65 | $-0.37 | ||
| Q2 24 | $0.63 | $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 | $1.5B | $14.7B |
| 股东权益账面价值 | $2.8B | $3.1B |
| 总资产 | $6.0B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.55× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资PSNRUN
| Q1 26 | — | — | ||
| Q4 25 | $466.4M | — | ||
| Q3 25 | $422.6M | — | ||
| Q2 25 | $411.3M | — | ||
| Q1 25 | $269.7M | — | ||
| Q4 24 | $453.5M | — | ||
| Q3 24 | $558.8M | — | ||
| Q2 24 | $528.5M | — |
总债务PSNRUN
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.2B | $14.7B | ||
| Q3 25 | $1.2B | $14.6B | ||
| Q2 25 | $1.2B | $14.0B | ||
| Q1 25 | $785.2M | $13.6B | ||
| Q4 24 | $784.1M | $12.9B | ||
| Q3 24 | $1.1B | $12.5B | ||
| Q2 24 | $1.2B | $12.0B |
股东权益PSNRUN
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.6B | $3.1B | ||
| Q3 25 | $2.6B | $3.0B | ||
| Q2 25 | $2.5B | $2.9B | ||
| Q1 25 | $2.5B | $2.6B | ||
| Q4 24 | $2.4B | $2.6B | ||
| Q3 24 | $2.3B | $5.3B | ||
| Q2 24 | $2.2B | $5.4B |
总资产PSNRUN
| Q1 26 | $6.0B | — | ||
| Q4 25 | $5.8B | $22.6B | ||
| Q3 25 | $5.7B | $22.2B | ||
| Q2 25 | $5.7B | $21.2B | ||
| Q1 25 | $5.4B | $20.4B | ||
| Q4 24 | $5.5B | $19.9B | ||
| Q3 24 | $5.4B | $22.1B | ||
| Q2 24 | $5.2B | $21.4B |
负债/权益比PSNRUN
| Q1 26 | 0.55× | — | ||
| Q4 25 | 0.47× | 4.69× | ||
| Q3 25 | 0.48× | 4.90× | ||
| Q2 25 | 0.49× | 4.80× | ||
| Q1 25 | 0.32× | 5.19× | ||
| Q4 24 | 0.32× | 5.05× | ||
| Q3 24 | 0.49× | 2.36× | ||
| Q2 24 | 0.56× | 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PSNRUN
| Q1 26 | — | — | ||
| Q4 25 | $167.5M | $96.9M | ||
| Q3 25 | $162.8M | $-121.5M | ||
| Q2 25 | $159.8M | $-292.7M | ||
| Q1 25 | $-11.8M | $-104.2M | ||
| Q4 24 | $126.8M | $-258.4M | ||
| Q3 24 | $299.0M | $-156.2M | ||
| Q2 24 | $161.2M | $-208.5M |
自由现金流PSNRUN
| Q1 26 | — | — | ||
| Q4 25 | $135.6M | — | ||
| Q3 25 | $149.7M | — | ||
| Q2 25 | $150.4M | — | ||
| Q1 25 | $-25.3M | — | ||
| Q4 24 | $108.0M | — | ||
| Q3 24 | $287.3M | $-156.4M | ||
| Q2 24 | $152.0M | — |
自由现金流率PSNRUN
| Q1 26 | — | — | ||
| Q4 25 | 8.5% | — | ||
| Q3 25 | 9.2% | — | ||
| Q2 25 | 9.5% | — | ||
| Q1 25 | -1.6% | — | ||
| Q4 24 | 6.2% | — | ||
| Q3 24 | 15.9% | -29.1% | ||
| Q2 24 | 9.1% | — |
资本支出强度PSNRUN
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.9% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 0.6% | 0.0% | ||
| Q2 24 | 0.6% | — |
现金转化率PSNRUN
| Q1 26 | — | — | ||
| Q4 25 | 3.01× | 0.94× | ||
| Q3 25 | 2.54× | -7.33× | ||
| Q2 25 | 2.89× | -1.05× | ||
| Q1 25 | -0.18× | -2.08× | ||
| Q4 24 | 0.63× | — | ||
| Q3 24 | 4.16× | — | ||
| Q2 24 | 2.33× | -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
PSN
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% |
