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戴德梁行（CWK）与Expeditors International（EXPD）财务数据对比。点击上方公司名可切换其他公司
戴德梁行的季度营收约是Expeditors International的1.0倍（$2.9B vs $2.9B），Expeditors International净利率更高（7.0% vs -0.8%，领先7.8%），戴德梁行同比增速更快（10.8% vs -3.3%），Expeditors International自由现金流更多（$270.3M vs $234.3M），过去两年戴德梁行的营收复合增速更高（15.5% vs 13.8%）
戴德梁行是全球化的商业地产及物业管理服务提供商，总部位于美国伊利诺伊州芝加哥，由联合创始人J·克莱兹代尔·库什曼和伯纳德·韦克菲尔德共同创立，在全球商业地产服务领域拥有广泛的业务布局与专业服务能力，为各类客户提供定制化的地产相关解决方案。
美国财富500强物流服务企业，总部位于华盛顿州贝尔维尤，依托覆盖六大洲100余个国家超340个网点的全球网络及统一集成的技术系统，为客户提供高度优化的定制化供应链解决方案。
CWK vs EXPD — 直观对比
营收规模更大
CWK
是对方的1.0倍
$2.9B
营收增速更快
CWK
高出14.2%
-3.3%
净利率更高
EXPD
高出7.8%
-0.8%
自由现金流更多
EXPD
多$36.0M
$234.3M
两年增速更快
CWK
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $2.9B |
| 净利润 | $-22.4M | $200.7M |
| 毛利率 | — | — |
| 营业利润率 | 6.1% | 8.8% |
| 净利率 | -0.8% | 7.0% |
| 营收同比 | 10.8% | -3.3% |
| 净利润同比 | -119.8% | -14.9% |
| 每股收益（稀释后） | $-0.10 | $1.50 |
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CWKEXPD
| Q4 25 | $2.9B | $2.9B | ||
| Q3 25 | $2.6B | $2.9B | ||
| Q2 25 | $2.5B | $2.7B | ||
| Q1 25 | $2.3B | $2.7B | ||
| Q4 24 | $2.6B | $3.0B | ||
| Q3 24 | $2.3B | $3.0B | ||
| Q2 24 | $2.3B | $2.4B | ||
| Q1 24 | $2.2B | $2.2B |
净利润CWKEXPD
| Q4 25 | $-22.4M | $200.7M | ||
| Q3 25 | $51.4M | $222.3M | ||
| Q2 25 | $57.3M | $183.6M | ||
| Q1 25 | $1.9M | $203.8M | ||
| Q4 24 | $112.9M | $235.9M | ||
| Q3 24 | $33.7M | $229.6M | ||
| Q2 24 | $13.5M | $175.5M | ||
| Q1 24 | $-28.8M | $169.2M |
营业利润率CWKEXPD
| Q4 25 | 6.1% | 8.8% | ||
| Q3 25 | 4.1% | 10.0% | ||
| Q2 25 | 4.9% | 9.3% | ||
| Q1 25 | 2.0% | 10.0% | ||
| Q4 24 | 6.6% | 10.2% | ||
| Q3 24 | 3.2% | 10.1% | ||
| Q2 24 | 3.1% | 9.2% | ||
| Q1 24 | 0.9% | 9.7% |
净利率CWKEXPD
| Q4 25 | -0.8% | 7.0% | ||
| Q3 25 | 2.0% | 7.7% | ||
| Q2 25 | 2.3% | 6.9% | ||
| Q1 25 | 0.1% | 7.6% | ||
| Q4 24 | 4.3% | 8.0% | ||
| Q3 24 | 1.4% | 7.7% | ||
| Q2 24 | 0.6% | 7.2% | ||
| Q1 24 | -1.3% | 7.7% |
每股收益（稀释后）CWKEXPD
| Q4 25 | $-0.10 | $1.50 | ||
| Q3 25 | $0.22 | $1.64 | ||
| Q2 25 | $0.25 | $1.34 | ||
| Q1 25 | $0.01 | $1.47 | ||
| Q4 24 | $0.49 | $1.68 | ||
| Q3 24 | $0.14 | $1.63 | ||
| Q2 24 | $0.06 | $1.24 | ||
| Q1 24 | $-0.13 | $1.17 |
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 | $784.2M | $1.3B |
| 总债务越低越好 | $2.7B | — |
| 股东权益账面价值 | $2.0B | $2.4B |
| 总资产 | $7.7B | $4.9B |
| 负债/权益比越低杠杆越低 | 1.40× | — |
8季度趋势，按日历期对齐
现金及短期投资CWKEXPD
| Q4 25 | $784.2M | $1.3B | ||
| Q3 25 | $634.4M | $1.2B | ||
| Q2 25 | $618.2M | $1.2B | ||
| Q1 25 | $623.2M | $1.3B | ||
| Q4 24 | $793.3M | $1.1B | ||
| Q3 24 | $775.4M | $1.3B | ||
| Q2 24 | $567.3M | $1.3B | ||
| Q1 24 | $553.5M | $1.4B |
总债务CWKEXPD
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $3.0B | — | ||
| Q1 25 | $3.0B | — | ||
| Q4 24 | $3.0B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $3.2B | — |
股东权益CWKEXPD
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $2.0B | $2.3B | ||
| Q2 25 | $1.9B | $2.2B | ||
| Q1 25 | $1.8B | $2.3B | ||
| Q4 24 | $1.8B | $2.2B | ||
| Q3 24 | $1.7B | $2.4B | ||
| Q2 24 | $1.6B | $2.2B | ||
| Q1 24 | $1.6B | $2.2B |
总资产CWKEXPD
| Q4 25 | $7.7B | $4.9B | ||
| Q3 25 | $7.7B | $4.8B | ||
| Q2 25 | $7.6B | $4.8B | ||
| Q1 25 | $7.4B | $4.8B | ||
| Q4 24 | $7.5B | $4.8B | ||
| Q3 24 | $7.5B | $5.2B | ||
| Q2 24 | $7.3B | $4.8B | ||
| Q1 24 | $7.5B | $4.5B |
负债/权益比CWKEXPD
| Q4 25 | 1.40× | — | ||
| Q3 25 | 1.45× | — | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.70× | — | ||
| Q4 24 | 1.73× | — | ||
| Q3 24 | 1.81× | — | ||
| Q2 24 | 1.91× | — | ||
| Q1 24 | 1.96× | — |
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 | $257.3M | $283.3M |
| 自由现金流经营现金流 - 资本支出 | $234.3M | $270.3M |
| 自由现金流率自由现金流/营收 | 8.0% | 9.5% |
| 资本支出强度资本支出/营收 | 0.8% | 0.5% |
| 现金转化率经营现金流/净利润 | — | 1.41× |
| 过去12个月自由现金流最近4个季度 | $293.0M | $953.4M |
8季度趋势，按日历期对齐
经营现金流CWKEXPD
| Q4 25 | $257.3M | $283.3M | ||
| Q3 25 | $235.5M | $201.4M | ||
| Q2 25 | $9.6M | $179.2M | ||
| Q1 25 | $-162.0M | $342.6M | ||
| Q4 24 | $115.2M | $249.7M | ||
| Q3 24 | $196.1M | $90.0M | ||
| Q2 24 | $21.8M | $126.8M | ||
| Q1 24 | $-125.1M | $256.9M |
自由现金流CWKEXPD
| Q4 25 | $234.3M | $270.3M | ||
| Q3 25 | $225.0M | $190.3M | ||
| Q2 25 | $300.0K | $163.3M | ||
| Q1 25 | $-166.6M | $329.5M | ||
| Q4 24 | $105.9M | $239.7M | ||
| Q3 24 | $186.7M | $77.7M | ||
| Q2 24 | $10.0M | $118.8M | ||
| Q1 24 | $-135.6M | $246.7M |
自由现金流率CWKEXPD
| Q4 25 | 8.0% | 9.5% | ||
| Q3 25 | 8.6% | 6.6% | ||
| Q2 25 | 0.0% | 6.2% | ||
| Q1 25 | -7.3% | 12.4% | ||
| Q4 24 | 4.0% | 8.1% | ||
| Q3 24 | 8.0% | 2.6% | ||
| Q2 24 | 0.4% | 4.9% | ||
| Q1 24 | -6.2% | 11.2% |
资本支出强度CWKEXPD
| Q4 25 | 0.8% | 0.5% | ||
| Q3 25 | 0.4% | 0.4% | ||
| Q2 25 | 0.4% | 0.6% | ||
| Q1 25 | 0.2% | 0.5% | ||
| Q4 24 | 0.4% | 0.3% | ||
| Q3 24 | 0.4% | 0.4% | ||
| Q2 24 | 0.5% | 0.3% | ||
| Q1 24 | 0.5% | 0.5% |
现金转化率CWKEXPD
| Q4 25 | — | 1.41× | ||
| Q3 25 | 4.58× | 0.91× | ||
| Q2 25 | 0.17× | 0.98× | ||
| Q1 25 | -85.26× | 1.68× | ||
| Q4 24 | 1.02× | 1.06× | ||
| Q3 24 | 5.82× | 0.39× | ||
| Q2 24 | 1.61× | 0.72× | ||
| Q1 24 | — | 1.52× |
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
CWK
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $1.8B | 61% |
| Other | $1.1B | 39% |
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
