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SunPower Inc.（SPWR）与null（SWIM）财务数据对比。点击上方公司名可切换其他公司
null的季度营收约是SunPower Inc.的1.3倍（$100.0M vs $79.7M），null净利率更高（-7.0% vs -17.8%，领先10.7%），null同比增速更快（14.5% vs -10.1%），过去两年SunPower Inc.的营收复合增速更高（118.7% vs -4.9%）
SunPower是一家美国光伏太阳能发电系统与储能电池产品供应商，主要服务住宅客户。公司由斯坦福大学电气工程教授理查德·斯旺森于1985年创立，总部位于加利福尼亚州圣何塞。赛普拉斯半导体2002年收购该公司多数股权后推动其快速发展，SunPower最终于2005年完成上市，目前是全球光伏领域知名企业。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
SPWR vs SWIM — 直观对比
营收规模更大
SWIM
是对方的1.3倍
$79.7M
营收增速更快
SWIM
高出24.6%
-10.1%
净利率更高
SWIM
高出10.7%
-17.8%
两年增速更快
SPWR
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $79.7M | $100.0M |
| 净利润 | $-14.2M | $-7.0M |
| 毛利率 | 35.5% | 28.0% |
| 营业利润率 | -27.4% | -10.7% |
| 净利率 | -17.8% | -7.0% |
| 营收同比 | -10.1% | 14.5% |
| 净利润同比 | -130.1% | 76.0% |
| 每股收益（稀释后） | $-0.05 | $-0.06 |
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SPWRSWIM
| Q4 25 | $79.7M | $100.0M | ||
| Q3 25 | $22.0M | $161.9M | ||
| Q2 25 | $67.5M | $172.6M | ||
| Q1 25 | $82.7M | $111.4M | ||
| Q4 24 | $88.7M | $87.3M | ||
| Q3 24 | — | $150.5M | ||
| Q2 24 | — | $160.1M | ||
| Q1 24 | — | $110.6M |
净利润SPWRSWIM
| Q4 25 | $-14.2M | $-7.0M | ||
| Q3 25 | $-16.9M | $8.1M | ||
| Q2 25 | $-22.4M | $16.0M | ||
| Q1 25 | $8.1M | $-6.0M | ||
| Q4 24 | $47.0M | $-29.2M | ||
| Q3 24 | — | $5.9M | ||
| Q2 24 | — | $13.3M | ||
| Q1 24 | — | $-7.9M |
毛利率SPWRSWIM
| Q4 25 | 35.5% | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | 42.6% | 37.1% | ||
| Q1 25 | 48.5% | 29.5% | ||
| Q4 24 | 46.5% | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
营业利润率SPWRSWIM
| Q4 25 | -27.4% | -10.7% | ||
| Q3 25 | -15.7% | 13.3% | ||
| Q2 25 | -4.0% | 14.3% | ||
| Q1 25 | 1.3% | -4.4% | ||
| Q4 24 | -24.2% | -14.9% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | — | 12.5% | ||
| Q1 24 | — | -1.9% |
净利率SPWRSWIM
| Q4 25 | -17.8% | -7.0% | ||
| Q3 25 | -76.9% | 5.0% | ||
| Q2 25 | -33.2% | 9.3% | ||
| Q1 25 | 9.8% | -5.4% | ||
| Q4 24 | 53.0% | -33.4% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | — | 8.3% | ||
| Q1 24 | — | -7.1% |
每股收益（稀释后）SPWRSWIM
| Q4 25 | $-0.05 | $-0.06 | ||
| Q3 25 | $-0.19 | $0.07 | ||
| Q2 25 | $-0.28 | $0.13 | ||
| Q1 25 | $0.00 | $-0.05 | ||
| Q4 24 | $0.27 | $-0.24 | ||
| Q3 24 | — | $0.05 | ||
| Q2 24 | — | $0.11 | ||
| Q1 24 | — | $-0.07 |
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 | $9.6M | — |
| 总债务越低越好 | $164.8M | $279.8M |
| 股东权益账面价值 | $-90.1M | $405.9M |
| 总资产 | $241.2M | $823.2M |
| 负债/权益比越低杠杆越低 | — | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资SPWRSWIM
| Q4 25 | $9.6M | — | ||
| Q3 25 | $5.1M | — | ||
| Q2 25 | $11.1M | — | ||
| Q1 25 | $10.6M | — | ||
| Q4 24 | $13.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
总债务SPWRSWIM
| Q4 25 | $164.8M | $279.8M | ||
| Q3 25 | $204.3M | $281.1M | ||
| Q2 25 | $152.9M | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | $147.3M | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
股东权益SPWRSWIM
| Q4 25 | $-90.1M | $405.9M | ||
| Q3 25 | $-112.3M | $408.4M | ||
| Q2 25 | $-107.2M | $398.4M | ||
| Q1 25 | $-89.0M | $381.1M | ||
| Q4 24 | $-97.5M | $387.2M | ||
| Q3 24 | — | $416.6M | ||
| Q2 24 | — | $408.1M | ||
| Q1 24 | — | $391.8M |
总资产SPWRSWIM
| Q4 25 | $241.2M | $823.2M | ||
| Q3 25 | $208.3M | $844.4M | ||
| Q2 25 | $163.1M | $822.1M | ||
| Q1 25 | $147.8M | $824.6M | ||
| Q4 24 | $144.5M | $794.2M | ||
| Q3 24 | — | $853.4M | ||
| Q2 24 | — | $830.0M | ||
| Q1 24 | — | $808.6M |
负债/权益比SPWRSWIM
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $-1.9M | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $14.1M |
| 自由现金流率自由现金流/营收 | — | 14.1% |
| 资本支出强度资本支出/营收 | — | 9.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $38.0M |
8季度趋势，按日历期对齐
经营现金流SPWRSWIM
| Q4 25 | $-1.9M | $23.3M | ||
| Q3 25 | $-6.4M | $51.0M | ||
| Q2 25 | $-4.4M | $36.0M | ||
| Q1 25 | $-2.6M | $-46.9M | ||
| Q4 24 | $-25.6M | $6.2M | ||
| Q3 24 | — | $37.2M | ||
| Q2 24 | — | $52.4M | ||
| Q1 24 | — | $-34.5M |
自由现金流SPWRSWIM
| Q4 25 | — | $14.1M | ||
| Q3 25 | — | $45.2M | ||
| Q2 25 | — | $29.1M | ||
| Q1 25 | — | $-50.3M | ||
| Q4 24 | — | $-98.0K | ||
| Q3 24 | — | $33.2M | ||
| Q2 24 | — | $47.9M | ||
| Q1 24 | — | $-39.9M |
自由现金流率SPWRSWIM
| Q4 25 | — | 14.1% | ||
| Q3 25 | — | 27.9% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | -45.2% | ||
| Q4 24 | — | -0.1% | ||
| Q3 24 | — | 22.1% | ||
| Q2 24 | — | 29.9% | ||
| Q1 24 | — | -36.0% |
资本支出强度SPWRSWIM
| Q4 25 | — | 9.2% | ||
| Q3 25 | — | 3.6% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | — | 2.7% | ||
| Q2 24 | — | 2.8% | ||
| Q1 24 | — | 4.8% |
现金转化率SPWRSWIM
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | -0.32× | — | ||
| Q4 24 | -0.54× | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| 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
SPWR
| Residential Solar Installation | $46.9M | 59% |
| New Homes Business | $22.7M | 29% |
| Other | $10.1M | 13% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
