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Reddit, Inc.（RDDT）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Reddit, Inc.的1.6倍（$1.2B vs $725.6M），Reddit, Inc.净利率更高（34.7% vs 8.9%，领先25.7%），Sunrun Inc.同比增速更快（123.5% vs 69.7%），过去两年Reddit, Inc.的营收复合增速更高（72.8% vs 59.0%）
Reddit是美国知名的社交新闻聚合与论坛类社交媒体平台，注册用户可发布链接、文字帖、图片、视频等各类内容，其他用户可对内容进行点赞或点踩，内容按主题归类到用户创建的子板块中，获赞更高的内容会排在板块前列，热度足够的内容还将展示在全站首页。
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。
RDDT vs RUN — 直观对比
营收规模更大
RUN
是对方的1.6倍
$725.6M
营收增速更快
RUN
高出53.9%
69.7%
净利率更高
RDDT
高出25.7%
8.9%
两年增速更快
RDDT
近两年复合增速
59.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $725.6M | $1.2B |
| 净利润 | $251.6M | $103.6M |
| 毛利率 | 91.9% | — |
| 营业利润率 | 31.9% | 8.4% |
| 净利率 | 34.7% | 8.9% |
| 营收同比 | 69.7% | 123.5% |
| 净利润同比 | 254.2% | 103.7% |
| 每股收益（稀释后） | $1.24 | $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RDDTRUN
| Q4 25 | $725.6M | $1.2B | ||
| Q3 25 | $584.9M | $724.6M | ||
| Q2 25 | $499.6M | $569.3M | ||
| Q1 25 | $392.4M | $504.3M | ||
| Q4 24 | $427.7M | $518.5M | ||
| Q3 24 | $348.4M | $537.2M | ||
| Q2 24 | $281.2M | $523.9M | ||
| Q1 24 | $243.0M | $458.2M |
净利润RDDTRUN
| Q4 25 | $251.6M | $103.6M | ||
| Q3 25 | $162.7M | $16.6M | ||
| Q2 25 | $89.3M | $279.8M | ||
| Q1 25 | $26.2M | $50.0M | ||
| Q4 24 | $71.0M | $-2.8B | ||
| Q3 24 | $29.9M | $-83.8M | ||
| Q2 24 | $-10.1M | $139.1M | ||
| Q1 24 | $-575.1M | $-87.8M |
毛利率RDDTRUN
| Q4 25 | 91.9% | — | ||
| Q3 25 | 91.0% | — | ||
| Q2 25 | 90.8% | — | ||
| Q1 25 | 90.5% | — | ||
| Q4 24 | 92.6% | — | ||
| Q3 24 | 90.1% | — | ||
| Q2 24 | 89.5% | — | ||
| Q1 24 | 88.6% | — |
营业利润率RDDTRUN
| Q4 25 | 31.9% | 8.4% | ||
| Q3 25 | 23.7% | 0.5% | ||
| Q2 25 | 13.6% | -19.7% | ||
| Q1 25 | 1.0% | -22.8% | ||
| Q4 24 | 12.4% | -628.0% | ||
| Q3 24 | 2.0% | -23.8% | ||
| Q2 24 | -11.0% | -24.4% | ||
| Q1 24 | -242.5% | -40.0% |
净利率RDDTRUN
| Q4 25 | 34.7% | 8.9% | ||
| Q3 25 | 27.8% | 2.3% | ||
| Q2 25 | 17.9% | 49.1% | ||
| Q1 25 | 6.7% | 9.9% | ||
| Q4 24 | 16.6% | -542.7% | ||
| Q3 24 | 8.6% | -15.6% | ||
| Q2 24 | -3.6% | 26.5% | ||
| Q1 24 | -236.7% | -19.2% |
每股收益（稀释后）RDDTRUN
| Q4 25 | $1.24 | $0.38 | ||
| Q3 25 | $0.80 | $0.06 | ||
| Q2 25 | $0.45 | $1.07 | ||
| Q1 25 | $0.13 | $0.20 | ||
| Q4 24 | $4.76 | $-12.59 | ||
| Q3 24 | $0.16 | $-0.37 | ||
| Q2 24 | $-0.06 | $0.55 | ||
| Q1 24 | $-8.19 | $-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 | $953.6M | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $2.9B | $3.1B |
| 总资产 | $3.2B | $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RDDTRUN
| Q4 25 | $953.6M | — | ||
| Q3 25 | $911.7M | — | ||
| Q2 25 | $734.1M | — | ||
| Q1 25 | $635.7M | — | ||
| Q4 24 | $562.1M | — | ||
| Q3 24 | $515.9M | — | ||
| Q2 24 | $468.0M | — | ||
| Q1 24 | $968.5M | — |
总债务RDDTRUN
| 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RDDTRUN
| Q4 25 | $2.9B | $3.1B | ||
| Q3 25 | $2.6B | $3.0B | ||
| Q2 25 | $2.4B | $2.9B | ||
| Q1 25 | $2.2B | $2.6B | ||
| Q4 24 | $2.1B | $2.6B | ||
| Q3 24 | $2.0B | $5.3B | ||
| Q2 24 | $1.9B | $5.4B | ||
| Q1 24 | $1.8B | $5.2B |
总资产RDDTRUN
| Q4 25 | $3.2B | $22.6B | ||
| Q3 25 | $2.9B | $22.2B | ||
| Q2 25 | $2.6B | $21.2B | ||
| Q1 25 | $2.4B | $20.4B | ||
| Q4 24 | $2.3B | $19.9B | ||
| Q3 24 | $2.2B | $22.1B | ||
| Q2 24 | $2.1B | $21.4B | ||
| Q1 24 | $2.0B | $20.8B |
负债/权益比RDDTRUN
| 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 | $266.8M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $263.6M | — |
| 自由现金流率自由现金流/营收 | 36.3% | — |
| 资本支出强度资本支出/营收 | 0.4% | — |
| 现金转化率经营现金流/净利润 | 1.06× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $684.2M | — |
8季度趋势，按日历期对齐
经营现金流RDDTRUN
| Q4 25 | $266.8M | $96.9M | ||
| Q3 25 | $185.2M | $-121.5M | ||
| Q2 25 | $111.3M | $-292.7M | ||
| Q1 25 | $127.6M | $-104.2M | ||
| Q4 24 | $90.0M | $-258.4M | ||
| Q3 24 | $71.6M | $-156.2M | ||
| Q2 24 | $28.4M | $-208.5M | ||
| Q1 24 | $32.1M | $-143.1M |
自由现金流RDDTRUN
| Q4 25 | $263.6M | — | ||
| Q3 25 | $183.1M | — | ||
| Q2 25 | $110.8M | — | ||
| Q1 25 | $126.6M | — | ||
| Q4 24 | $89.2M | — | ||
| Q3 24 | $70.3M | $-156.4M | ||
| Q2 24 | $27.2M | — | ||
| Q1 24 | $29.2M | — |
自由现金流率RDDTRUN
| Q4 25 | 36.3% | — | ||
| Q3 25 | 31.3% | — | ||
| Q2 25 | 22.2% | — | ||
| Q1 25 | 32.3% | — | ||
| Q4 24 | 20.8% | — | ||
| Q3 24 | 20.2% | -29.1% | ||
| Q2 24 | 9.7% | — | ||
| Q1 24 | 12.0% | — |
资本支出强度RDDTRUN
| Q4 25 | 0.4% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.4% | 0.0% | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 1.2% | — |
现金转化率RDDTRUN
| Q4 25 | 1.06× | 0.94× | ||
| Q3 25 | 1.14× | -7.33× | ||
| Q2 25 | 1.25× | -1.05× | ||
| Q1 25 | 4.88× | -2.08× | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 2.40× | — | ||
| Q2 24 | — | -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
RDDT
| Advertising | $689.7M | 95% |
| Other Revenue | $35.9M | 5% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
