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Sunrun Inc.（RUN）与RUSH ENTERPRISES INC \TX\（RUSHA）财务数据对比。点击上方公司名可切换其他公司
RUSH ENTERPRISES INC \TX\的季度营收约是Sunrun Inc.的1.5倍（$1.7B vs $1.2B），Sunrun Inc.净利率更高（8.9% vs 3.7%，领先5.3%），Sunrun Inc.同比增速更快（123.5% vs -9.0%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs -6.8%）
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。
Rush Enterprises是总部位于美国得克萨斯州新布朗费尔斯的商用车经销商，核心业务是通过旗下Rush Truck Centers销售全新及二手卡车。2019年该公司在全美20个州运营超200家卡车中心，在加拿大设有14个网点，2020年入选财富500强榜单。
RUN vs RUSHA — 直观对比
营收规模更大
RUSHA
是对方的1.5倍
$1.2B
营收增速更快
RUN
高出132.5%
-9.0%
净利率更高
RUN
高出5.3%
3.7%
两年增速更快
RUN
近两年复合增速
-6.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.7B |
| 净利润 | $103.6M | $61.7M |
| 毛利率 | — | 20.4% |
| 营业利润率 | 8.4% | 4.9% |
| 净利率 | 8.9% | 3.7% |
| 营收同比 | 123.5% | -9.0% |
| 净利润同比 | 103.7% | 1.8% |
| 每股收益（稀释后） | $0.38 | $0.77 |
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RUNRUSHA
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.2B | $1.7B | ||
| Q3 25 | $724.6M | $1.8B | ||
| Q2 25 | $569.3M | $1.8B | ||
| Q1 25 | $504.3M | $1.8B | ||
| Q4 24 | $518.5M | $1.9B | ||
| Q3 24 | $537.2M | $1.8B | ||
| Q2 24 | $523.9M | $1.9B |
净利润RUNRUSHA
| Q1 26 | — | $61.7M | ||
| Q4 25 | $103.6M | $64.3M | ||
| Q3 25 | $16.6M | $66.7M | ||
| Q2 25 | $279.8M | $72.4M | ||
| Q1 25 | $50.0M | $60.3M | ||
| Q4 24 | $-2.8B | $74.8M | ||
| Q3 24 | $-83.8M | $79.1M | ||
| Q2 24 | $139.1M | $78.7M |
毛利率RUNRUSHA
| Q1 26 | — | 20.4% | ||
| Q4 25 | — | 20.8% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 20.7% | ||
| Q1 25 | — | 20.3% | ||
| Q4 24 | — | 19.3% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 20.2% |
营业利润率RUNRUSHA
| Q1 26 | — | 4.9% | ||
| Q4 25 | 8.4% | 5.5% | ||
| Q3 25 | 0.5% | 5.6% | ||
| Q2 25 | -19.7% | 6.0% | ||
| Q1 25 | -22.8% | 5.2% | ||
| Q4 24 | -628.0% | 5.8% | ||
| Q3 24 | -23.8% | 6.7% | ||
| Q2 24 | -24.4% | 6.4% |
净利率RUNRUSHA
| Q1 26 | — | 3.7% | ||
| Q4 25 | 8.9% | 3.8% | ||
| Q3 25 | 2.3% | 3.7% | ||
| Q2 25 | 49.1% | 3.9% | ||
| Q1 25 | 9.9% | 3.4% | ||
| Q4 24 | -542.7% | 3.9% | ||
| Q3 24 | -15.6% | 4.4% | ||
| Q2 24 | 26.5% | 4.1% |
每股收益（稀释后）RUNRUSHA
| Q1 26 | — | $0.77 | ||
| Q4 25 | $0.38 | $0.81 | ||
| Q3 25 | $0.06 | $0.83 | ||
| Q2 25 | $1.07 | $0.90 | ||
| Q1 25 | $0.20 | $0.73 | ||
| Q4 24 | $-12.59 | $-95.13 | ||
| Q3 24 | $-0.37 | $0.97 | ||
| Q2 24 | $0.55 | $97.00 |
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 | $14.7B | $277.8M |
| 股东权益账面价值 | $3.1B | $2.3B |
| 总资产 | $22.6B | $4.5B |
| 负债/权益比越低杠杆越低 | 4.69× | 0.12× |
8季度趋势，按日历期对齐
现金及短期投资RUNRUSHA
| Q1 26 | — | — | ||
| Q4 25 | — | $212.6M | ||
| Q3 25 | — | $242.0M | ||
| Q2 25 | — | $211.1M | ||
| Q1 25 | — | $228.7M | ||
| Q4 24 | — | $228.1M | ||
| Q3 24 | — | $185.1M | ||
| Q2 24 | — | $167.3M |
总债务RUNRUSHA
| Q1 26 | — | $277.8M | ||
| Q4 25 | $14.7B | $274.8M | ||
| Q3 25 | $14.6B | — | ||
| Q2 25 | $14.0B | — | ||
| Q1 25 | $13.6B | — | ||
| Q4 24 | $12.9B | $408.4M | ||
| Q3 24 | $12.5B | — | ||
| Q2 24 | $12.0B | — |
股东权益RUNRUSHA
| Q1 26 | — | $2.3B | ||
| Q4 25 | $3.1B | $2.2B | ||
| Q3 25 | $3.0B | $2.2B | ||
| Q2 25 | $2.9B | $2.2B | ||
| Q1 25 | $2.6B | $2.2B | ||
| Q4 24 | $2.6B | $2.1B | ||
| Q3 24 | $5.3B | $2.1B | ||
| Q2 24 | $5.4B | $2.0B |
总资产RUNRUSHA
| Q1 26 | — | $4.5B | ||
| Q4 25 | $22.6B | $4.4B | ||
| Q3 25 | $22.2B | $4.6B | ||
| Q2 25 | $21.2B | $4.7B | ||
| Q1 25 | $20.4B | $4.7B | ||
| Q4 24 | $19.9B | $4.6B | ||
| Q3 24 | $22.1B | $4.6B | ||
| Q2 24 | $21.4B | $4.5B |
负债/权益比RUNRUSHA
| Q1 26 | — | 0.12× | ||
| Q4 25 | 4.69× | 0.12× | ||
| Q3 25 | 4.90× | — | ||
| Q2 25 | 4.80× | — | ||
| Q1 25 | 5.19× | — | ||
| Q4 24 | 5.05× | 0.19× | ||
| 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 | $96.9M | — |
| 自由现金流经营现金流 - 资本支出 | — | $411.6M |
| 自由现金流率自由现金流/营收 | — | 24.4% |
| 资本支出强度资本支出/营收 | — | 2.0% |
| 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 | — | $828.4M |
8季度趋势，按日历期对齐
经营现金流RUNRUSHA
| Q1 26 | — | — | ||
| Q4 25 | $96.9M | $112.9M | ||
| Q3 25 | $-121.5M | $367.8M | ||
| Q2 25 | $-292.7M | $227.6M | ||
| Q1 25 | $-104.2M | $153.5M | ||
| Q4 24 | $-258.4M | $392.3M | ||
| Q3 24 | $-156.2M | $111.7M | ||
| Q2 24 | $-208.5M | $270.6M |
自由现金流RUNRUSHA
| Q1 26 | — | $411.6M | ||
| Q4 25 | — | $31.9M | ||
| Q3 25 | — | $271.2M | ||
| Q2 25 | — | $113.8M | ||
| Q1 25 | — | $45.1M | ||
| Q4 24 | — | $263.5M | ||
| Q3 24 | $-156.4M | $-20.0M | ||
| Q2 24 | — | $177.2M |
自由现金流率RUNRUSHA
| Q1 26 | — | 24.4% | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | 15.2% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | -29.1% | -1.1% | ||
| Q2 24 | — | 9.1% |
资本支出强度RUNRUSHA
| Q1 26 | — | 2.0% | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 5.4% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | 0.0% | 7.3% | ||
| Q2 24 | — | 4.8% |
现金转化率RUNRUSHA
| Q1 26 | — | — | ||
| Q4 25 | 0.94× | 1.75× | ||
| Q3 25 | -7.33× | 5.51× | ||
| Q2 25 | -1.05× | 3.14× | ||
| Q1 25 | -2.08× | 2.55× | ||
| Q4 24 | — | 5.25× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | -1.50× | 3.44× |
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
RUN
| Products | $692.3M | 60% |
| Customer Agreements | $435.2M | 38% |
| Manufactured Product Other | $56.7M | 5% |
| Incentives | $31.3M | 3% |
RUSHA
| New and used commercial vehicle sales | $955.1M | 57% |
| Aftermarket products and services sales | $627.2M | 37% |
| Lease and rental sales | $92.3M | 5% |
| Finance and insurance | $5.6M | 0% |
