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Sunrun vs Spectrum Brands: revenue, profit, margins and growth compared

Sunrun brought in $3B of revenue in fiscal 2025, Spectrum Brands $2.8B in fiscal 2025. Revenue changed by +45.1% at Sunrun and -5.2% at Spectrum Brands on the year before, so Sunrun grew faster. Sunrun kept 15.2% of its revenue as net profit, Spectrum Brands 3.6%.

Side by side, latest fiscal year

RUNSPB
Fiscal year endedFY2025 (December 31, 2025)FY2025 (September 30, 2025)
Revenue$3B$2.8B
Revenue growth+45.1%-5.2%
Net income$449.9M$99.9M
Net margin15.2%3.6%
Free cash flown/a$165.3M
Free cash flow marginn/a5.9%
Earnings per share (diluted)$1.71$3.86
Cash$1.2B$123.6M
Debt$14.7B$496.1M
Price to earnings4.722.0
Market value$2B$2B
Dividend yieldn/a2.21%
Rank by revenue in sector#5 of 34 · Other#8 of 34 · Other

Over the years

Revenue
RUN FY2018: $760MRUN FY2019: $858.6MRUN FY2020: $922.2MRUN FY2021: $1.6BRUN FY2022: $2.3BRUN FY2023: $2.3BRUN FY2024: $2BRUN FY2025: $3BSPB FY2018: $3.8BSPB FY2019: $3.8BSPB FY2020: $2.6BSPB FY2021: $3BSPB FY2022: $3.1BSPB FY2023: $2.9BSPB FY2024: $3BSPB FY2025: $2.8BFY18FY19FY20FY21FY22FY23FY24FY25
RUN $3BSPB $2.8B
Net income
RUN FY2018: $26.7MRUN FY2019: $26.3MRUN FY2020: -$173.4MRUN FY2021: -$79.4MRUN FY2022: $173.4MRUN FY2023: -$1.6BRUN FY2024: -$2.8BRUN FY2025: $449.9MSPB FY2018: $768.3MSPB FY2019: $494.5MSPB FY2020: $97.8MSPB FY2021: $189.6MSPB FY2022: $71.6MSPB FY2023: $1.8BSPB FY2024: $124.8MSPB FY2025: $99.9MFY18FY19FY20FY21FY22FY23FY24FY25
RUN $449.9MSPB $99.9M
Net margin
RUN FY2018: 3.5%RUN FY2019: 3.1%RUN FY2020: -18.8%RUN FY2021: -4.9%RUN FY2022: 7.5%RUN FY2023: -71.0%RUN FY2024: -139.7%RUN FY2025: 15.2%SPB FY2018: 20.2%SPB FY2019: 13.0%SPB FY2020: 3.7%SPB FY2021: 6.3%SPB FY2022: 2.3%SPB FY2023: 61.7%SPB FY2024: 4.2%SPB FY2025: 3.6%FY18FY19FY20FY21FY22FY23FY24FY25
RUN 15.2%SPB 3.6%
Revenue growth
RUN FY2019: +13.0%RUN FY2020: +7.4%RUN FY2021: +74.6%RUN FY2022: +44.2%RUN FY2023: -2.7%RUN FY2024: -9.8%RUN FY2025: +45.1%SPB FY2019: -0.2%SPB FY2020: -31.0%SPB FY2021: +14.3%SPB FY2022: +4.5%SPB FY2023: -6.8%SPB FY2024: +1.5%SPB FY2025: -5.2%FY19FY20FY21FY22FY23FY24FY25
RUN +45.1%SPB -5.2%
Free cash flow
RUN FY2018: -$67.4MRUN FY2019: -$229.8MRUN FY2020: -$321.1MRUN FY2021: -$825.8MRUN FY2022: -$867MRUN FY2023: -$841.7MRUN FY2024: -$767.7MSPB FY2018: $267.4MSPB FY2019: -$39.3MSPB FY2020: $246.2MSPB FY2021: $244.8MSPB FY2022: -$117.8MSPB FY2023: -$468.7MSPB FY2024: $118.6MSPB FY2025: $165.3MFY18FY19FY20FY21FY22FY23FY24FY25
RUN -$767.7MSPB $165.3M

Fiscal years as each company reports them; the two may end in different months.

Questions about Sunrun and Spectrum Brands

Which is bigger by revenue, Sunrun or Spectrum Brands?

Sunrun is bigger by revenue: $3B in fiscal 2025, against $2.8B for Spectrum Brands in fiscal 2025.

Which keeps more of its revenue as profit, Sunrun or Spectrum Brands?

Sunrun had a net margin of 15.2% in fiscal 2025; Spectrum Brands had 3.6% in fiscal 2025.

Which grew revenue faster, Sunrun or Spectrum Brands?

In their latest fiscal years revenue changed by +45.1% at Sunrun and -5.2% at Spectrum Brands.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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