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Sunrun Inc.（RUN）与Talen Energy Corp（TLN）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Talen Energy Corp的1.5倍（$1.2B vs $758.0M），Sunrun Inc.净利率更高（8.9% vs -47.9%，领先56.8%），Sunrun Inc.同比增速更快（123.5% vs 114.7%），过去两年Sunrun Inc.的营收复合增速更高（59.0% vs 35.0%）
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。
PPL公司是总部位于美国宾夕法尼亚州东部利哈伊谷阿伦敦的能源企业，于纽约证券交易所上市（股票代码：PPL），属标普500指数成分股。截至2022年，公司营收79亿美元，总资产超370亿美元，拥有6500名员工，服务360万客户。
RUN vs TLN — 直观对比
营收规模更大
RUN
是对方的1.5倍
$758.0M
营收增速更快
RUN
高出8.8%
114.7%
净利率更高
RUN
高出56.8%
-47.9%
两年增速更快
RUN
近两年复合增速
35.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $758.0M |
| 净利润 | $103.6M | $-363.0M |
| 毛利率 | — | — |
| 营业利润率 | 8.4% | -41.3% |
| 净利率 | 8.9% | -47.9% |
| 营收同比 | 123.5% | 114.7% |
| 净利润同比 | 103.7% | -542.7% |
| 每股收益（稀释后） | $0.38 | $-7.60 |
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RUNTLN
| Q4 25 | $1.2B | $758.0M | ||
| Q3 25 | $724.6M | $697.0M | ||
| Q2 25 | $569.3M | $409.0M | ||
| Q1 25 | $504.3M | $654.0M | ||
| Q4 24 | $518.5M | $353.0M | ||
| Q3 24 | $537.2M | $459.0M | ||
| Q2 24 | $523.9M | $346.0M | ||
| Q1 24 | $458.2M | $416.0M |
净利润RUNTLN
| Q4 25 | $103.6M | $-363.0M | ||
| Q3 25 | $16.6M | $207.0M | ||
| Q2 25 | $279.8M | $72.0M | ||
| Q1 25 | $50.0M | $-135.0M | ||
| Q4 24 | $-2.8B | $82.0M | ||
| Q3 24 | $-83.8M | $168.0M | ||
| Q2 24 | $139.1M | $454.0M | ||
| Q1 24 | $-87.8M | $294.0M |
营业利润率RUNTLN
| Q4 25 | 8.4% | -41.3% | ||
| Q3 25 | 0.5% | 37.7% | ||
| Q2 25 | -19.7% | 16.1% | ||
| Q1 25 | -22.8% | -16.2% | ||
| Q4 24 | -628.0% | 4.5% | ||
| Q3 24 | -23.8% | 34.4% | ||
| Q2 24 | -24.4% | 7.8% | ||
| Q1 24 | -40.0% | 6.0% |
净利率RUNTLN
| Q4 25 | 8.9% | -47.9% | ||
| Q3 25 | 2.3% | 29.7% | ||
| Q2 25 | 49.1% | 17.6% | ||
| Q1 25 | 9.9% | -20.6% | ||
| Q4 24 | -542.7% | 23.2% | ||
| Q3 24 | -15.6% | 36.6% | ||
| Q2 24 | 26.5% | 131.2% | ||
| Q1 24 | -19.2% | 70.7% |
每股收益（稀释后）RUNTLN
| Q4 25 | $0.38 | $-7.60 | ||
| Q3 25 | $0.06 | $4.25 | ||
| Q2 25 | $1.07 | $1.50 | ||
| Q1 25 | $0.20 | $-2.94 | ||
| Q4 24 | $-12.59 | $2.07 | ||
| Q3 24 | $-0.37 | $3.16 | ||
| Q2 24 | $0.55 | $7.60 | ||
| Q1 24 | $-0.40 | $4.84 |
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 | — | $689.0M |
| 总债务越低越好 | $14.7B | $6.8B |
| 股东权益账面价值 | $3.1B | $1.1B |
| 总资产 | $22.6B | $10.9B |
| 负债/权益比越低杠杆越低 | 4.69× | 6.23× |
8季度趋势，按日历期对齐
现金及短期投资RUNTLN
| Q4 25 | — | $689.0M | ||
| Q3 25 | — | $497.0M | ||
| Q2 25 | — | $122.0M | ||
| Q1 25 | — | $295.0M | ||
| Q4 24 | — | $328.0M | ||
| Q3 24 | — | $648.0M | ||
| Q2 24 | — | $632.0M | ||
| Q1 24 | — | — |
总债务RUNTLN
| Q4 25 | $14.7B | $6.8B | ||
| Q3 25 | $14.6B | $3.0B | ||
| Q2 25 | $14.0B | $3.0B | ||
| Q1 25 | $13.6B | $3.0B | ||
| Q4 24 | $12.9B | $3.0B | ||
| Q3 24 | $12.5B | $2.6B | ||
| Q2 24 | $12.0B | $2.6B | ||
| Q1 24 | $11.1B | — |
股东权益RUNTLN
| Q4 25 | $3.1B | $1.1B | ||
| Q3 25 | $3.0B | $1.5B | ||
| Q2 25 | $2.9B | $1.2B | ||
| Q1 25 | $2.6B | $1.2B | ||
| Q4 24 | $2.6B | $1.4B | ||
| Q3 24 | $5.3B | $2.4B | ||
| Q2 24 | $5.4B | $2.5B | ||
| Q1 24 | $5.2B | $2.8B |
总资产RUNTLN
| Q4 25 | $22.6B | $10.9B | ||
| Q3 25 | $22.2B | $6.1B | ||
| Q2 25 | $21.2B | $5.8B | ||
| Q1 25 | $20.4B | $5.9B | ||
| Q4 24 | $19.9B | $6.1B | ||
| Q3 24 | $22.1B | $6.8B | ||
| Q2 24 | $21.4B | $7.1B | ||
| Q1 24 | $20.8B | — |
负债/权益比RUNTLN
| Q4 25 | 4.69× | 6.23× | ||
| Q3 25 | 4.90× | 2.03× | ||
| Q2 25 | 4.80× | 2.40× | ||
| Q1 25 | 5.19× | 2.54× | ||
| Q4 24 | 5.05× | 2.17× | ||
| Q3 24 | 2.36× | 1.10× | ||
| Q2 24 | 2.23× | 1.05× | ||
| 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 | $96.9M | $280.0M |
| 自由现金流经营现金流 - 资本支出 | — | $254.0M |
| 自由现金流率自由现金流/营收 | — | 33.5% |
| 资本支出强度资本支出/营收 | — | 3.4% |
| 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 | — | $606.0M |
8季度趋势，按日历期对齐
经营现金流RUNTLN
| Q4 25 | $96.9M | $280.0M | ||
| Q3 25 | $-121.5M | $489.0M | ||
| Q2 25 | $-292.7M | $-184.0M | ||
| Q1 25 | $-104.2M | $119.0M | ||
| Q4 24 | $-258.4M | — | ||
| Q3 24 | $-156.2M | $96.0M | ||
| Q2 24 | $-208.5M | $-23.0M | ||
| Q1 24 | $-143.1M | $173.0M |
自由现金流RUNTLN
| Q4 25 | — | $254.0M | ||
| Q3 25 | — | $468.0M | ||
| Q2 25 | — | $-217.0M | ||
| Q1 25 | — | $101.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-156.4M | $83.0M | ||
| Q2 24 | — | $-43.0M | ||
| Q1 24 | — | $148.0M |
自由现金流率RUNTLN
| Q4 25 | — | 33.5% | ||
| Q3 25 | — | 67.1% | ||
| Q2 25 | — | -53.1% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | -29.1% | 18.1% | ||
| Q2 24 | — | -12.4% | ||
| Q1 24 | — | 35.6% |
资本支出强度RUNTLN
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 3.0% | ||
| Q2 25 | — | 8.1% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.0% | 2.8% | ||
| Q2 24 | — | 5.8% | ||
| Q1 24 | — | 6.0% |
现金转化率RUNTLN
| Q4 25 | 0.94× | — | ||
| Q3 25 | -7.33× | 2.36× | ||
| Q2 25 | -1.05× | -2.56× | ||
| Q1 25 | -2.08× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | -1.50× | -0.05× | ||
| Q1 24 | — | 0.59× |
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% |
TLN
| Electricity Sales And Ancillary Services | $555.0M | 73% |
| Operating Revenue Capacity | $182.0M | 24% |
| Physical Electricity Sales Bilateral Contracts Other | $21.0M | 3% |
