vs
Artisan Partners Asset Management Inc.（APAM）与FORWARD AIR CORP（FWRD）财务数据对比。点击上方公司名可切换其他公司
FORWARD AIR CORP的季度营收约是Artisan Partners Asset Management Inc.的1.9倍（$631.2M vs $335.5M），Artisan Partners Asset Management Inc.净利率更高（35.2% vs -4.5%，领先39.7%），Artisan Partners Asset Management Inc.同比增速更快（12.9% vs -0.3%），过去两年Artisan Partners Asset Management Inc.的营收复合增速更高（12.7% vs 7.9%）
阿蒂森伙伴资产管理公司（Artisan Partners）是总部位于美国威斯康星州密尔沃基的资产管理机构，除美国本土外，还在都柏林、香港、伦敦、新加坡、悉尼设有办公室，为全球客户提供专业的资产管理服务。
Forward Air Corp是北美领先的轻资产物流运输服务商，核心业务包括加急零担货运、最后一公里配送、多式联运、仓储及供应链解决方案，服务覆盖美加墨地区，主要服务电商、零售、制造、汽车等行业。
APAM vs FWRD — 直观对比
营收规模更大
FWRD
是对方的1.9倍
$335.5M
营收增速更快
APAM
高出13.2%
-0.3%
净利率更高
APAM
高出39.7%
-4.5%
两年增速更快
APAM
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $335.5M | $631.2M |
| 净利润 | $118.1M | $-28.3M |
| 毛利率 | — | — |
| 营业利润率 | 39.2% | -0.5% |
| 净利率 | 35.2% | -4.5% |
| 营收同比 | 12.9% | -0.3% |
| 净利润同比 | 34.9% | 22.2% |
| 每股收益（稀释后） | $1.36 | $-0.90 |
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APAMFWRD
| Q4 25 | $335.5M | $631.2M | ||
| Q3 25 | $301.3M | $631.8M | ||
| Q2 25 | $282.7M | $618.8M | ||
| Q1 25 | $277.1M | $613.3M | ||
| Q4 24 | $297.1M | $632.8M | ||
| Q3 24 | $279.6M | $655.9M | ||
| Q2 24 | $270.8M | $643.7M | ||
| Q1 24 | $264.4M | $541.8M |
净利润APAMFWRD
| Q4 25 | $118.1M | $-28.3M | ||
| Q3 25 | $66.8M | $-16.3M | ||
| Q2 25 | $67.6M | $-12.6M | ||
| Q1 25 | $61.1M | $-50.6M | ||
| Q4 24 | $87.5M | $-36.4M | ||
| Q3 24 | $73.0M | $-73.4M | ||
| Q2 24 | $57.6M | $-645.4M | ||
| Q1 24 | $59.5M | $-61.7M |
营业利润率APAMFWRD
| Q4 25 | 39.2% | -0.5% | ||
| Q3 25 | 33.8% | 2.4% | ||
| Q2 25 | 28.2% | 3.2% | ||
| Q1 25 | 31.2% | 0.8% | ||
| Q4 24 | 36.7% | 12.0% | ||
| Q3 24 | 33.3% | 3.5% | ||
| Q2 24 | 32.0% | -170.2% | ||
| Q1 24 | 29.4% | -12.1% |
净利率APAMFWRD
| Q4 25 | 35.2% | -4.5% | ||
| Q3 25 | 22.2% | -2.6% | ||
| Q2 25 | 23.9% | -2.0% | ||
| Q1 25 | 22.1% | -8.3% | ||
| Q4 24 | 29.5% | -5.8% | ||
| Q3 24 | 26.1% | -11.2% | ||
| Q2 24 | 21.3% | -100.3% | ||
| Q1 24 | 22.5% | -11.4% |
每股收益（稀释后）APAMFWRD
| Q4 25 | $1.36 | $-0.90 | ||
| Q3 25 | $0.93 | $-0.52 | ||
| Q2 25 | $0.94 | $-0.41 | ||
| Q1 25 | $0.82 | $-1.68 | ||
| Q4 24 | $0.99 | $-1.69 | ||
| Q3 24 | $1.03 | $-2.66 | ||
| Q2 24 | $0.80 | $-23.47 | ||
| Q1 24 | $0.84 | $-2.81 |
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 | — | $106.0M |
| 总债务越低越好 | $190.0M | $1.7B |
| 股东权益账面价值 | $438.8M | $113.3M |
| 总资产 | $1.6B | $2.7B |
| 负债/权益比越低杠杆越低 | 0.43× | 14.89× |
8季度趋势，按日历期对齐
现金及短期投资APAMFWRD
| Q4 25 | — | $106.0M | ||
| Q3 25 | — | $140.4M | ||
| Q2 25 | — | $95.1M | ||
| Q1 25 | — | $116.3M | ||
| Q4 24 | — | $104.9M | ||
| Q3 24 | — | $136.6M | ||
| Q2 24 | — | $84.9M | ||
| Q1 24 | — | $152.0M |
总债务APAMFWRD
| Q4 25 | $190.0M | $1.7B | ||
| Q3 25 | $190.0M | $1.7B | ||
| Q2 25 | $200.0M | — | ||
| Q1 25 | $200.0M | — | ||
| Q4 24 | $200.0M | — | ||
| Q3 24 | $200.0M | — | ||
| Q2 24 | $200.0M | — | ||
| Q1 24 | $200.0M | $1.7B |
股东权益APAMFWRD
| Q4 25 | $438.8M | $113.3M | ||
| Q3 25 | $402.1M | $139.8M | ||
| Q2 25 | $381.8M | $151.8M | ||
| Q1 25 | $356.5M | $154.6M | ||
| Q4 24 | $388.9M | $201.7M | ||
| Q3 24 | $372.1M | $226.1M | ||
| Q2 24 | $341.2M | $283.8M | ||
| Q1 24 | $320.3M | $926.1M |
总资产APAMFWRD
| Q4 25 | $1.6B | $2.7B | ||
| Q3 25 | $1.6B | $2.8B | ||
| Q2 25 | $1.4B | $2.8B | ||
| Q1 25 | $1.4B | $2.8B | ||
| Q4 24 | $1.6B | $2.8B | ||
| Q3 24 | $1.6B | $3.1B | ||
| Q2 24 | $1.5B | $3.1B | ||
| Q1 24 | $1.5B | $4.0B |
负债/权益比APAMFWRD
| Q4 25 | 0.43× | 14.89× | ||
| Q3 25 | 0.47× | 12.05× | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.56× | — | ||
| Q4 24 | 0.51× | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.62× | 1.81× |
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 | $172.0M | — |
| 自由现金流经营现金流 - 资本支出 | $171.6M | — |
| 自由现金流率自由现金流/营收 | 51.2% | — |
| 资本支出强度资本支出/营收 | 0.1% | 1.3% |
| 现金转化率经营现金流/净利润 | 1.46× | — |
| 过去12个月自由现金流最近4个季度 | $420.6M | — |
8季度趋势，按日历期对齐
经营现金流APAMFWRD
| Q4 25 | $172.0M | — | ||
| Q3 25 | $40.4M | $52.7M | ||
| Q2 25 | $50.9M | — | ||
| Q1 25 | $157.9M | $27.6M | ||
| Q4 24 | $372.8M | $-23.2M | ||
| Q3 24 | $112.8M | $51.2M | ||
| Q2 24 | $75.9M | $-45.2M | ||
| Q1 24 | $147.0M | $-51.7M |
自由现金流APAMFWRD
| Q4 25 | $171.6M | — | ||
| Q3 25 | $40.4M | $48.6M | ||
| Q2 25 | $50.9M | — | ||
| Q1 25 | $157.7M | $15.7M | ||
| Q4 24 | $371.3M | $-30.5M | ||
| Q3 24 | $112.4M | $40.7M | ||
| Q2 24 | $75.2M | $-59.6M | ||
| Q1 24 | $146.9M | $-56.7M |
自由现金流率APAMFWRD
| Q4 25 | 51.2% | — | ||
| Q3 25 | 13.4% | 7.7% | ||
| Q2 25 | 18.0% | — | ||
| Q1 25 | 56.9% | 2.6% | ||
| Q4 24 | 125.0% | -4.8% | ||
| Q3 24 | 40.2% | 6.2% | ||
| Q2 24 | 27.8% | -9.3% | ||
| Q1 24 | 55.6% | -10.5% |
资本支出强度APAMFWRD
| Q4 25 | 0.1% | 1.3% | ||
| Q3 25 | 0.0% | 0.7% | ||
| Q2 25 | 0.0% | 0.8% | ||
| Q1 25 | 0.1% | 1.9% | ||
| Q4 24 | 0.5% | 1.1% | ||
| Q3 24 | 0.1% | 1.6% | ||
| Q2 24 | 0.2% | 2.2% | ||
| Q1 24 | 0.0% | 0.9% |
现金转化率APAMFWRD
| Q4 25 | 1.46× | — | ||
| Q3 25 | 0.60× | — | ||
| Q2 25 | 0.75× | — | ||
| Q1 25 | 2.58× | — | ||
| Q4 24 | 4.26× | — | ||
| Q3 24 | 1.54× | — | ||
| Q2 24 | 1.32× | — | ||
| Q1 24 | 2.47× | — |
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
APAM
暂无分部数据
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
