vs
Qorvo, Inc.（QRVO）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Qorvo, Inc.的1.2倍（$1.2B vs $993.0M），Qorvo, Inc.净利率更高（16.5% vs 8.9%，领先7.6%），Sunrun Inc.同比增速更快（123.5% vs 8.4%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 2.7%）
Qorvo是一家美国跨国企业，专注于无线、有线及电源市场相关产品的研发与供应。该公司由TriQuint半导体与RF Micro Devices合并而来，合并计划于2014年公布，2015年1月1日正式完成，在纳斯达克挂牌上市，股票代码QRVO，原实行双总部制，2016年中起将北卡罗来纳州基地作为总部所在地。
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。
QRVO vs RUN — 直观对比
营收规模更大
RUN
是对方的1.2倍
$993.0M
营收增速更快
RUN
高出115.1%
8.4%
净利率更高
QRVO
高出7.6%
8.9%
两年增速更快
RUN
近两年复合增速
2.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $993.0M | $1.2B |
| 净利润 | $164.1M | $103.6M |
| 毛利率 | 46.7% | — |
| 营业利润率 | 19.4% | 8.4% |
| 净利率 | 16.5% | 8.9% |
| 营收同比 | 8.4% | 123.5% |
| 净利润同比 | 297.5% | 103.7% |
| 每股收益（稀释后） | $1.75 | $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QRVORUN
| Q4 25 | $993.0M | $1.2B | ||
| Q3 25 | $1.1B | $724.6M | ||
| Q2 25 | $818.8M | $569.3M | ||
| Q1 25 | $869.5M | $504.3M | ||
| Q4 24 | $916.3M | $518.5M | ||
| Q3 24 | $1.0B | $537.2M | ||
| Q2 24 | $886.7M | $523.9M | ||
| Q1 24 | $941.0M | $458.2M |
净利润QRVORUN
| Q4 25 | $164.1M | $103.6M | ||
| Q3 25 | $119.6M | $16.6M | ||
| Q2 25 | $25.6M | $279.8M | ||
| Q1 25 | $31.4M | $50.0M | ||
| Q4 24 | $41.3M | $-2.8B | ||
| Q3 24 | $-17.4M | $-83.8M | ||
| Q2 24 | $414.0K | $139.1M | ||
| Q1 24 | $2.7M | $-87.8M |
毛利率QRVORUN
| Q4 25 | 46.7% | — | ||
| Q3 25 | 47.0% | — | ||
| Q2 25 | 40.5% | — | ||
| Q1 25 | 42.2% | — | ||
| Q4 24 | 42.7% | — | ||
| Q3 24 | 42.6% | — | ||
| Q2 24 | 37.5% | — | ||
| Q1 24 | 40.6% | — |
营业利润率QRVORUN
| Q4 25 | 19.4% | 8.4% | ||
| Q3 25 | 14.9% | 0.5% | ||
| Q2 25 | 3.7% | -19.7% | ||
| Q1 25 | 3.2% | -22.8% | ||
| Q4 24 | 5.8% | -628.0% | ||
| Q3 24 | 0.9% | -23.8% | ||
| Q2 24 | 0.5% | -24.4% | ||
| Q1 24 | 3.2% | -40.0% |
净利率QRVORUN
| Q4 25 | 16.5% | 8.9% | ||
| Q3 25 | 11.3% | 2.3% | ||
| Q2 25 | 3.1% | 49.1% | ||
| Q1 25 | 3.6% | 9.9% | ||
| Q4 24 | 4.5% | -542.7% | ||
| Q3 24 | -1.7% | -15.6% | ||
| Q2 24 | 0.0% | 26.5% | ||
| Q1 24 | 0.3% | -19.2% |
每股收益（稀释后）QRVORUN
| Q4 25 | $1.75 | $0.38 | ||
| Q3 25 | $1.28 | $0.06 | ||
| Q2 25 | $0.27 | $1.07 | ||
| Q1 25 | $0.33 | $0.20 | ||
| Q4 24 | $0.43 | $-12.59 | ||
| Q3 24 | $-0.18 | $-0.37 | ||
| Q2 24 | $0.00 | $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 | $1.3B | — |
| 总债务越低越好 | $1.5B | $14.7B |
| 股东权益账面价值 | $3.7B | $3.1B |
| 总资产 | $6.2B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.42× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资QRVORUN
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.0B | — | ||
| Q4 24 | $769.4M | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.0B | — |
总债务QRVORUN
| Q4 25 | $1.5B | $14.7B | ||
| Q3 25 | $1.5B | $14.6B | ||
| Q2 25 | $1.5B | $14.0B | ||
| Q1 25 | $1.5B | $13.6B | ||
| Q4 24 | $1.5B | $12.9B | ||
| Q3 24 | $1.5B | $12.5B | ||
| Q2 24 | $1.5B | $12.0B | ||
| Q1 24 | $1.5B | $11.1B |
股东权益QRVORUN
| Q4 25 | $3.7B | $3.1B | ||
| Q3 25 | $3.5B | $3.0B | ||
| Q2 25 | $3.4B | $2.9B | ||
| Q1 25 | $3.4B | $2.6B | ||
| Q4 24 | $3.4B | $2.6B | ||
| Q3 24 | $3.4B | $5.3B | ||
| Q2 24 | $3.5B | $5.4B | ||
| Q1 24 | $3.6B | $5.2B |
总资产QRVORUN
| Q4 25 | $6.2B | $22.6B | ||
| Q3 25 | $6.1B | $22.2B | ||
| Q2 25 | $6.0B | $21.2B | ||
| Q1 25 | $5.9B | $20.4B | ||
| Q4 24 | $6.0B | $19.9B | ||
| Q3 24 | $6.5B | $22.1B | ||
| Q2 24 | $6.4B | $21.4B | ||
| Q1 24 | $6.6B | $20.8B |
负债/权益比QRVORUN
| Q4 25 | 0.42× | 4.69× | ||
| Q3 25 | 0.44× | 4.90× | ||
| Q2 25 | 0.45× | 4.80× | ||
| Q1 25 | 0.46× | 5.19× | ||
| Q4 24 | 0.46× | 5.05× | ||
| Q3 24 | 0.45× | 2.36× | ||
| Q2 24 | 0.44× | 2.23× | ||
| Q1 24 | 0.44× | 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 | $265.4M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $236.9M | — |
| 自由现金流率自由现金流/营收 | 23.9% | — |
| 资本支出强度资本支出/营收 | 2.9% | — |
| 现金转化率经营现金流/净利润 | 1.62× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $595.2M | — |
8季度趋势，按日历期对齐
经营现金流QRVORUN
| Q4 25 | $265.4M | $96.9M | ||
| Q3 25 | $84.0M | $-121.5M | ||
| Q2 25 | $182.9M | $-292.7M | ||
| Q1 25 | $199.2M | $-104.2M | ||
| Q4 24 | $214.1M | $-258.4M | ||
| Q3 24 | $127.8M | $-156.2M | ||
| Q2 24 | $81.1M | $-208.5M | ||
| Q1 24 | — | $-143.1M |
自由现金流QRVORUN
| Q4 25 | $236.9M | — | ||
| Q3 25 | $42.2M | — | ||
| Q2 25 | $145.4M | — | ||
| Q1 25 | $170.7M | — | ||
| Q4 24 | $176.2M | — | ||
| Q3 24 | $94.8M | $-156.4M | ||
| Q2 24 | $42.9M | — | ||
| Q1 24 | — | — |
自由现金流率QRVORUN
| Q4 25 | 23.9% | — | ||
| Q3 25 | 4.0% | — | ||
| Q2 25 | 17.8% | — | ||
| Q1 25 | 19.6% | — | ||
| Q4 24 | 19.2% | — | ||
| Q3 24 | 9.1% | -29.1% | ||
| Q2 24 | 4.8% | — | ||
| Q1 24 | — | — |
资本支出强度QRVORUN
| Q4 25 | 2.9% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 4.6% | — | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 4.1% | — | ||
| Q3 24 | 3.2% | 0.0% | ||
| Q2 24 | 4.3% | — | ||
| Q1 24 | — | — |
现金转化率QRVORUN
| Q4 25 | 1.62× | 0.94× | ||
| Q3 25 | 0.70× | -7.33× | ||
| Q2 25 | 7.15× | -1.05× | ||
| Q1 25 | 6.35× | -2.08× | ||
| Q4 24 | 5.19× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 195.86× | -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
QRVO
| ACG | $690.8M | 70% |
| HPA | $190.9M | 19% |
| CSG | $111.3M | 11% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
