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越洋钻探（RIG）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.的季度营收约是越洋钻探的1.1倍（$1.2B vs $1.0B），Sunrun Inc.净利率更高（8.9% vs 2.4%，领先6.5%），Sunrun Inc.同比增速更快（123.5% vs 9.6%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 16.9%）
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
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。
RIG vs RUN — 直观对比
营收规模更大
RUN
是对方的1.1倍
$1.0B
营收增速更快
RUN
高出113.9%
9.6%
净利率更高
RUN
高出6.5%
2.4%
两年增速更快
RUN
近两年复合增速
16.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.0B | $1.2B |
| 净利润 | $25.0M | $103.6M |
| 毛利率 | 42.0% | — |
| 营业利润率 | 23.0% | 8.4% |
| 净利率 | 2.4% | 8.9% |
| 营收同比 | 9.6% | 123.5% |
| 净利润同比 | 257.1% | 103.7% |
| 每股收益（稀释后） | $0.13 | $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RIGRUN
| Q4 25 | $1.0B | $1.2B | ||
| Q3 25 | $1.0B | $724.6M | ||
| Q2 25 | $988.0M | $569.3M | ||
| Q1 25 | $906.0M | $504.3M | ||
| Q4 24 | $952.0M | $518.5M | ||
| Q3 24 | $948.0M | $537.2M | ||
| Q2 24 | $861.0M | $523.9M | ||
| Q1 24 | $763.0M | $458.2M |
净利润RIGRUN
| Q4 25 | $25.0M | $103.6M | ||
| Q3 25 | $-1.9B | $16.6M | ||
| Q2 25 | $-938.0M | $279.8M | ||
| Q1 25 | $-79.0M | $50.0M | ||
| Q4 24 | $7.0M | $-2.8B | ||
| Q3 24 | $-494.0M | $-83.8M | ||
| Q2 24 | $-123.0M | $139.1M | ||
| Q1 24 | $98.0M | $-87.8M |
毛利率RIGRUN
| Q4 25 | 42.0% | — | ||
| Q3 25 | 43.2% | — | ||
| Q2 25 | 39.4% | — | ||
| Q1 25 | 31.8% | — | ||
| Q4 24 | 39.2% | — | ||
| Q3 24 | 40.6% | — | ||
| Q2 24 | 38.0% | — | ||
| Q1 24 | 31.5% | — |
营业利润率RIGRUN
| Q4 25 | 23.0% | 8.4% | ||
| Q3 25 | -163.1% | 0.5% | ||
| Q2 25 | -97.6% | -19.7% | ||
| Q1 25 | 7.1% | -22.8% | ||
| Q4 24 | 13.7% | -628.0% | ||
| Q3 24 | -51.2% | -23.8% | ||
| Q2 24 | -6.9% | -24.4% | ||
| Q1 24 | -0.4% | -40.0% |
净利率RIGRUN
| Q4 25 | 2.4% | 8.9% | ||
| Q3 25 | -187.1% | 2.3% | ||
| Q2 25 | -94.9% | 49.1% | ||
| Q1 25 | -8.7% | 9.9% | ||
| Q4 24 | 0.7% | -542.7% | ||
| Q3 24 | -52.1% | -15.6% | ||
| Q2 24 | -14.3% | 26.5% | ||
| Q1 24 | 12.8% | -19.2% |
每股收益（稀释后）RIGRUN
| Q4 25 | $0.13 | $0.38 | ||
| Q3 25 | $-2.00 | $0.06 | ||
| Q2 25 | $-1.06 | $1.07 | ||
| Q1 25 | $-0.11 | $0.20 | ||
| Q4 24 | $-0.14 | $-12.59 | ||
| Q3 24 | $-0.58 | $-0.37 | ||
| Q2 24 | $-0.15 | $0.55 | ||
| Q1 24 | $0.11 | $-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 | $620.0M | — |
| 总债务越低越好 | $5.2B | $14.7B |
| 股东权益账面价值 | $8.1B | $3.1B |
| 总资产 | $15.6B | $22.6B |
| 负债/权益比越低杠杆越低 | 0.64× | 4.69× |
8季度趋势，按日历期对齐
现金及短期投资RIGRUN
| Q4 25 | $620.0M | — | ||
| Q3 25 | $833.0M | — | ||
| Q2 25 | $377.0M | — | ||
| Q1 25 | $263.0M | — | ||
| Q4 24 | $560.0M | — | ||
| Q3 24 | $435.0M | — | ||
| Q2 24 | $475.0M | — | ||
| Q1 24 | $446.0M | — |
总债务RIGRUN
| Q4 25 | $5.2B | $14.7B | ||
| Q3 25 | $4.8B | $14.6B | ||
| Q2 25 | $5.9B | $14.0B | ||
| Q1 25 | $5.9B | $13.6B | ||
| Q4 24 | $6.2B | $12.9B | ||
| Q3 24 | $6.5B | $12.5B | ||
| Q2 24 | $6.8B | $12.0B | ||
| Q1 24 | $6.8B | $11.1B |
股东权益RIGRUN
| Q4 25 | $8.1B | $3.1B | ||
| Q3 25 | $8.1B | $3.0B | ||
| Q2 25 | $9.4B | $2.9B | ||
| Q1 25 | $10.2B | $2.6B | ||
| Q4 24 | $10.3B | $2.6B | ||
| Q3 24 | $10.2B | $5.3B | ||
| Q2 24 | $10.7B | $5.4B | ||
| Q1 24 | $10.5B | $5.2B |
总资产RIGRUN
| Q4 25 | $15.6B | $22.6B | ||
| Q3 25 | $16.2B | $22.2B | ||
| Q2 25 | $17.8B | $21.2B | ||
| Q1 25 | $19.0B | $20.4B | ||
| Q4 24 | $19.4B | $19.9B | ||
| Q3 24 | $19.5B | $22.1B | ||
| Q2 24 | $20.3B | $21.4B | ||
| Q1 24 | $19.9B | $20.8B |
负债/权益比RIGRUN
| Q4 25 | 0.64× | 4.69× | ||
| Q3 25 | 0.60× | 4.90× | ||
| Q2 25 | 0.63× | 4.80× | ||
| Q1 25 | 0.58× | 5.19× | ||
| Q4 24 | 0.60× | 5.05× | ||
| Q3 24 | 0.64× | 2.36× | ||
| Q2 24 | 0.63× | 2.23× | ||
| Q1 24 | 0.65× | 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 | $349.0M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $321.0M | — |
| 自由现金流率自由现金流/营收 | 30.8% | — |
| 资本支出强度资本支出/营收 | 2.7% | — |
| 现金转化率经营现金流/净利润 | 13.96× | 0.94× |
| 过去12个月自由现金流最近4个季度 | $626.0M | — |
8季度趋势，按日历期对齐
经营现金流RIGRUN
| Q4 25 | $349.0M | $96.9M | ||
| Q3 25 | $246.0M | $-121.5M | ||
| Q2 25 | $128.0M | $-292.7M | ||
| Q1 25 | $26.0M | $-104.2M | ||
| Q4 24 | $206.0M | $-258.4M | ||
| Q3 24 | $194.0M | $-156.2M | ||
| Q2 24 | $133.0M | $-208.5M | ||
| Q1 24 | $-86.0M | $-143.1M |
自由现金流RIGRUN
| Q4 25 | $321.0M | — | ||
| Q3 25 | $235.0M | — | ||
| Q2 25 | $104.0M | — | ||
| Q1 25 | $-34.0M | — | ||
| Q4 24 | $177.0M | — | ||
| Q3 24 | $136.0M | $-156.4M | ||
| Q2 24 | $49.0M | — | ||
| Q1 24 | $-169.0M | — |
自由现金流率RIGRUN
| Q4 25 | 30.8% | — | ||
| Q3 25 | 22.9% | — | ||
| Q2 25 | 10.5% | — | ||
| Q1 25 | -3.8% | — | ||
| Q4 24 | 18.6% | — | ||
| Q3 24 | 14.3% | -29.1% | ||
| Q2 24 | 5.7% | — | ||
| Q1 24 | -22.1% | — |
资本支出强度RIGRUN
| Q4 25 | 2.7% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 2.4% | — | ||
| Q1 25 | 6.6% | — | ||
| Q4 24 | 3.0% | — | ||
| Q3 24 | 6.1% | 0.0% | ||
| Q2 24 | 9.8% | — | ||
| Q1 24 | 10.9% | — |
现金转化率RIGRUN
| Q4 25 | 13.96× | 0.94× | ||
| Q3 25 | — | -7.33× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | 29.43× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.50× | ||
| Q1 24 | -0.88× | — |
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
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
