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APOGEE ENTERPRISES, INC.（APOG）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APOGEE ENTERPRISES, INC.的1.8倍（$631.2M vs $351.4M），APOGEE ENTERPRISES, INC.净利率更高（4.7% vs -4.5%，领先9.2%），APOGEE ENTERPRISES, INC.同比增速更快（1.6% vs -0.3%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs 2.9%）
Apogee Enterprises是一家美国音频设备制造商，主营音频接口、模数与数模转换器、USB及iOS麦克风，同时还开发音频制作相关软件，产品广泛服务于专业录音、音乐创作等音频领域，在全球音频行业拥有较高的认可度。
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。
APOG vs FWRD — 直观对比
营收规模更大
FWRD
是对方的1.8倍
$351.4M
营收增速更快
APOG
高出1.9%
-0.3%
净利率更高
APOG
高出9.2%
-4.5%
两年增速更快
FWRD
近两年复合增速
2.9%
损益表 — Q4 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $351.4M | $631.2M |
| 净利润 | $16.6M | $-28.3M |
| 毛利率 | 22.4% | — |
| 营业利润率 | 7.3% | -0.5% |
| 净利率 | 4.7% | -4.5% |
| 营收同比 | 1.6% | -0.3% |
| 净利润同比 | 568.8% | 22.2% |
| 每股收益（稀释后） | $0.78 | $-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APOGFWRD
| Q1 26 | $351.4M | — | ||
| Q4 25 | $348.6M | $631.2M | ||
| Q3 25 | $358.2M | $631.8M | ||
| Q2 25 | $346.6M | $618.8M | ||
| Q1 25 | $345.7M | $613.3M | ||
| Q4 24 | $341.3M | $632.8M | ||
| Q3 24 | $342.4M | $655.9M | ||
| Q2 24 | $331.5M | $643.7M |
净利润APOGFWRD
| Q1 26 | $16.6M | — | ||
| Q4 25 | $16.5M | $-28.3M | ||
| Q3 25 | $23.6M | $-16.3M | ||
| Q2 25 | $-2.7M | $-12.6M | ||
| Q1 25 | $2.5M | $-50.6M | ||
| Q4 24 | $21.0M | $-36.4M | ||
| Q3 24 | $30.6M | $-73.4M | ||
| Q2 24 | $31.0M | $-645.4M |
毛利率APOGFWRD
| Q1 26 | 22.4% | — | ||
| Q4 25 | 23.8% | — | ||
| Q3 25 | 23.1% | — | ||
| Q2 25 | 21.7% | — | ||
| Q1 25 | 21.6% | — | ||
| Q4 24 | 26.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 29.8% | — |
营业利润率APOGFWRD
| Q1 26 | 7.3% | — | ||
| Q4 25 | 7.1% | -0.5% | ||
| Q3 25 | 7.5% | 2.4% | ||
| Q2 25 | 2.0% | 3.2% | ||
| Q1 25 | 1.8% | 0.8% | ||
| Q4 24 | 8.4% | 12.0% | ||
| Q3 24 | 12.3% | 3.5% | ||
| Q2 24 | 12.5% | -170.2% |
净利率APOGFWRD
| Q1 26 | 4.7% | — | ||
| Q4 25 | 4.7% | -4.5% | ||
| Q3 25 | 6.6% | -2.6% | ||
| Q2 25 | -0.8% | -2.0% | ||
| Q1 25 | 0.7% | -8.3% | ||
| Q4 24 | 6.1% | -5.8% | ||
| Q3 24 | 8.9% | -11.2% | ||
| Q2 24 | 9.4% | -100.3% |
每股收益（稀释后）APOGFWRD
| Q1 26 | $0.78 | — | ||
| Q4 25 | $0.77 | $-0.90 | ||
| Q3 25 | $1.10 | $-0.52 | ||
| Q2 25 | $-0.13 | $-0.41 | ||
| Q1 25 | $0.12 | $-1.68 | ||
| Q4 24 | $0.96 | $-1.69 | ||
| Q3 24 | $1.40 | $-2.66 | ||
| Q2 24 | $1.41 | $-23.47 |
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 | $39.5M | $106.0M |
| 总债务越低越好 | $232.3M | $1.7B |
| 股东权益账面价值 | $511.8M | $113.3M |
| 总资产 | $1.1B | $2.7B |
| 负债/权益比越低杠杆越低 | 0.45× | 14.89× |
8季度趋势，按日历期对齐
现金及短期投资APOGFWRD
| Q1 26 | $39.5M | — | ||
| Q4 25 | $41.3M | $106.0M | ||
| Q3 25 | $39.5M | $140.4M | ||
| Q2 25 | $32.8M | $95.1M | ||
| Q1 25 | $41.4M | $116.3M | ||
| Q4 24 | $43.9M | $104.9M | ||
| Q3 24 | $51.0M | $136.6M | ||
| Q2 24 | $30.4M | $84.9M |
总债务APOGFWRD
| Q1 26 | $232.3M | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | $285.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APOGFWRD
| Q1 26 | $511.8M | — | ||
| Q4 25 | $512.3M | $113.3M | ||
| Q3 25 | $500.2M | $139.8M | ||
| Q2 25 | $481.8M | $151.8M | ||
| Q1 25 | $487.9M | $154.6M | ||
| Q4 24 | $522.1M | $201.7M | ||
| Q3 24 | $506.4M | $226.1M | ||
| Q2 24 | $480.0M | $283.8M |
总资产APOGFWRD
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | $2.7B | ||
| Q3 25 | $1.2B | $2.8B | ||
| Q2 25 | $1.2B | $2.8B | ||
| Q1 25 | $1.2B | $2.8B | ||
| Q4 24 | $1.2B | $2.8B | ||
| Q3 24 | $917.1M | $3.1B | ||
| Q2 24 | $889.0M | $3.1B |
负债/权益比APOGFWRD
| Q1 26 | 0.45× | — | ||
| Q4 25 | — | 14.89× | ||
| Q3 25 | — | 12.05× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $122.5M | — |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 7.8% | 1.3% |
| 现金转化率经营现金流/净利润 | 7.37× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流APOGFWRD
| Q1 26 | $122.5M | — | ||
| Q4 25 | $29.3M | — | ||
| Q3 25 | $57.1M | $52.7M | ||
| Q2 25 | $-19.8M | — | ||
| Q1 25 | $30.0M | $27.6M | ||
| Q4 24 | $31.0M | $-23.2M | ||
| Q3 24 | $58.7M | $51.2M | ||
| Q2 24 | $5.5M | $-45.2M |
自由现金流APOGFWRD
| Q1 26 | — | — | ||
| Q4 25 | $22.9M | — | ||
| Q3 25 | $52.4M | $48.6M | ||
| Q2 25 | $-26.9M | — | ||
| Q1 25 | $19.1M | $15.7M | ||
| Q4 24 | $22.0M | $-30.5M | ||
| Q3 24 | $50.2M | $40.7M | ||
| Q2 24 | $-1.8M | $-59.6M |
自由现金流率APOGFWRD
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | — | ||
| Q3 25 | 14.6% | 7.7% | ||
| Q2 25 | -7.8% | — | ||
| Q1 25 | 5.5% | 2.6% | ||
| Q4 24 | 6.4% | -4.8% | ||
| Q3 24 | 14.7% | 6.2% | ||
| Q2 24 | -0.5% | -9.3% |
资本支出强度APOGFWRD
| Q1 26 | 7.8% | — | ||
| Q4 25 | 1.9% | 1.3% | ||
| Q3 25 | 1.3% | 0.7% | ||
| Q2 25 | 2.1% | 0.8% | ||
| Q1 25 | 3.2% | 1.9% | ||
| Q4 24 | 2.6% | 1.1% | ||
| Q3 24 | 2.5% | 1.6% | ||
| Q2 24 | 2.2% | 2.2% |
现金转化率APOGFWRD
| Q1 26 | 7.37× | — | ||
| Q4 25 | 1.77× | — | ||
| Q3 25 | 2.41× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 12.08× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.92× | — | ||
| Q2 24 | 0.18× | — |
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
APOG
| Architectural Services | $127.1M | 36% |
| Architectural Metals | $110.0M | 31% |
| Architectural Glass | $67.4M | 19% |
| Performance Surfaces | $54.3M | 15% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
