vs
ROKU, INC（ROKU）与Sunrun Inc.（RUN）财务数据对比。点击上方公司名可切换其他公司
ROKU, INC的季度营收约是Sunrun Inc.的1.1倍（$1.2B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs -2.2%，领先11.1%），Sunrun Inc.同比增速更快（123.5% vs -18.3%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 13.6%）
Roku是美国流媒体技术企业，2002年由安东尼·伍德创立，主营数字媒体播放器、电视硬件生产，流媒体内容分发及平台广告运营。截至2024年覆盖用户达1.45亿，是美国流媒体视频分发领域的市场领导者，业务覆盖澳、加、法、德、英及拉美多国。
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。
ROKU vs RUN — 直观对比
营收规模更大
ROKU
是对方的1.1倍
$1.2B
营收增速更快
RUN
高出141.8%
-18.3%
净利率更高
RUN
高出11.1%
-2.2%
两年增速更快
RUN
近两年复合增速
13.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.2B |
| 净利润 | $-27.4M | $103.6M |
| 毛利率 | 35.6% | — |
| 营业利润率 | 59.7% | 8.4% |
| 净利率 | -2.2% | 8.9% |
| 营收同比 | -18.3% | 123.5% |
| 净利润同比 | -361.0% | 103.7% |
| 每股收益（稀释后） | $0.57 | $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ROKURUN
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.2B | $724.6M | ||
| Q2 25 | $1.1B | $569.3M | ||
| Q1 25 | $1.0B | $504.3M | ||
| Q4 24 | $1.2B | $518.5M | ||
| Q3 24 | $1.1B | $537.2M | ||
| Q2 24 | $968.2M | $523.9M |
净利润ROKURUN
| Q1 26 | $-27.4M | — | ||
| Q4 25 | $80.5M | $103.6M | ||
| Q3 25 | $24.8M | $16.6M | ||
| Q2 25 | $10.5M | $279.8M | ||
| Q1 25 | $-27.4M | $50.0M | ||
| Q4 24 | $-35.5M | $-2.8B | ||
| Q3 24 | $-9.0M | $-83.8M | ||
| Q2 24 | $-34.0M | $139.1M |
毛利率ROKURUN
| Q1 26 | 35.6% | — | ||
| Q4 25 | 43.5% | — | ||
| Q3 25 | 43.4% | — | ||
| Q2 25 | 44.8% | — | ||
| Q1 25 | 43.6% | — | ||
| Q4 24 | 42.7% | — | ||
| Q3 24 | 45.2% | — | ||
| Q2 24 | 43.9% | — |
营业利润率ROKURUN
| Q1 26 | 59.7% | — | ||
| Q4 25 | 4.7% | 8.4% | ||
| Q3 25 | 0.8% | 0.5% | ||
| Q2 25 | -2.1% | -19.7% | ||
| Q1 25 | -5.7% | -22.8% | ||
| Q4 24 | -3.3% | -628.0% | ||
| Q3 24 | -3.4% | -23.8% | ||
| Q2 24 | -7.4% | -24.4% |
净利率ROKURUN
| Q1 26 | -2.2% | — | ||
| Q4 25 | 5.8% | 8.9% | ||
| Q3 25 | 2.0% | 2.3% | ||
| Q2 25 | 0.9% | 49.1% | ||
| Q1 25 | -2.7% | 9.9% | ||
| Q4 24 | -3.0% | -542.7% | ||
| Q3 24 | -0.9% | -15.6% | ||
| Q2 24 | -3.5% | 26.5% |
每股收益（稀释后）ROKURUN
| Q1 26 | $0.57 | — | ||
| Q4 25 | $0.55 | $0.38 | ||
| Q3 25 | $0.16 | $0.06 | ||
| Q2 25 | $0.07 | $1.07 | ||
| Q1 25 | $-0.19 | $0.20 | ||
| Q4 24 | $-0.24 | $-12.59 | ||
| Q3 24 | $-0.06 | $-0.37 | ||
| Q2 24 | $-0.24 | $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 | $2.4B | — |
| 总债务越低越好 | — | $14.7B |
| 股东权益账面价值 | $2.7B | $3.1B |
| 总资产 | $4.4B | $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ROKURUN
| Q1 26 | $2.4B | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.1B | — | ||
| Q2 24 | $2.1B | — |
总债务ROKURUN
| Q1 26 | — | — | ||
| 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 |
股东权益ROKURUN
| Q1 26 | $2.7B | — | ||
| Q4 25 | $2.7B | $3.1B | ||
| Q3 25 | $2.6B | $3.0B | ||
| Q2 25 | $2.6B | $2.9B | ||
| Q1 25 | $2.5B | $2.6B | ||
| Q4 24 | $2.5B | $2.6B | ||
| Q3 24 | $2.5B | $5.3B | ||
| Q2 24 | $2.4B | $5.4B |
总资产ROKURUN
| Q1 26 | $4.4B | — | ||
| Q4 25 | $4.4B | $22.6B | ||
| Q3 25 | $4.4B | $22.2B | ||
| Q2 25 | $4.3B | $21.2B | ||
| Q1 25 | $4.2B | $20.4B | ||
| Q4 24 | $4.3B | $19.9B | ||
| Q3 24 | $4.3B | $22.1B | ||
| Q2 24 | $4.1B | $21.4B |
负债/权益比ROKURUN
| Q1 26 | — | — | ||
| 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× |
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 | $199.1M | $96.9M |
| 自由现金流经营现金流 - 资本支出 | $298.4M | — |
| 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 | — | — |
| 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 | $640.0M | — |
8季度趋势，按日历期对齐
经营现金流ROKURUN
| Q1 26 | $199.1M | — | ||
| Q4 25 | $107.7M | $96.9M | ||
| Q3 25 | $127.6M | $-121.5M | ||
| Q2 25 | $109.7M | $-292.7M | ||
| Q1 25 | $138.7M | $-104.2M | ||
| Q4 24 | $79.3M | $-258.4M | ||
| Q3 24 | $68.7M | $-156.2M | ||
| Q2 24 | $23.4M | $-208.5M |
自由现金流ROKURUN
| Q1 26 | $298.4M | — | ||
| Q4 25 | $106.6M | — | ||
| Q3 25 | $126.5M | — | ||
| Q2 25 | $108.6M | — | ||
| Q1 25 | $136.8M | — | ||
| Q4 24 | $76.8M | — | ||
| Q3 24 | $67.6M | $-156.4M | ||
| Q2 24 | $22.5M | — |
自由现金流率ROKURUN
| Q1 26 | 23.9% | — | ||
| Q4 25 | 7.6% | — | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 9.8% | — | ||
| Q1 25 | 13.4% | — | ||
| Q4 24 | 6.4% | — | ||
| Q3 24 | 6.4% | -29.1% | ||
| Q2 24 | 2.3% | — |
资本支出强度ROKURUN
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | 0.1% | — |
现金转化率ROKURUN
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | 0.94× | ||
| Q3 25 | 5.14× | -7.33× | ||
| Q2 25 | 10.45× | -1.05× | ||
| Q1 25 | — | -2.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -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
ROKU
| Advertising | $612.7M | 49% |
| Subscriptions | $518.5M | 42% |
| Devices | $117.6M | 9% |
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
