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GE医疗（DHC）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GE医疗的1.7倍（$631.2M vs $379.6M），FORWARD AIR CORP净利率更高（-4.5% vs -5.6%，领先1.1%），GE医疗同比增速更快（-0.0% vs -0.3%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs 1.2%）
GE医疗是一家总部位于美国伊利诺伊州芝加哥市的医疗科技企业，业务涵盖四大板块：医疗影像设备，包括分子成像、CT、核磁共振、妇科健康筛查及X光系统；超声设备；患者护理解决方案，聚焦远程患者监测、麻醉呼吸护理、心脏诊断及婴幼儿护理；此外还涉及医药相关领域，是全球医疗行业的知名企业。
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。
DHC vs FWRD — 直观对比
营收规模更大
FWRD
是对方的1.7倍
$379.6M
营收增速更快
DHC
高出0.2%
-0.3%
净利率更高
FWRD
高出1.1%
-5.6%
两年增速更快
FWRD
近两年复合增速
1.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $379.6M | $631.2M |
| 净利润 | $-21.2M | $-28.3M |
| 毛利率 | — | — |
| 营业利润率 | -12.6% | -0.5% |
| 净利率 | -5.6% | -4.5% |
| 营收同比 | -0.0% | -0.3% |
| 净利润同比 | 75.7% | 22.2% |
| 每股收益（稀释后） | $-0.09 | $-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DHCFWRD
| Q4 25 | $379.6M | $631.2M | ||
| Q3 25 | $388.7M | $631.8M | ||
| Q2 25 | $382.7M | $618.8M | ||
| Q1 25 | $386.9M | $613.3M | ||
| Q4 24 | $379.6M | $632.8M | ||
| Q3 24 | $373.6M | $655.9M | ||
| Q2 24 | $371.4M | $643.7M | ||
| Q1 24 | $370.8M | $541.8M |
净利润DHCFWRD
| Q4 25 | $-21.2M | $-28.3M | ||
| Q3 25 | $-164.0M | $-16.3M | ||
| Q2 25 | $-91.6M | $-12.6M | ||
| Q1 25 | $-9.0M | $-50.6M | ||
| Q4 24 | $-87.4M | $-36.4M | ||
| Q3 24 | $-98.7M | $-73.4M | ||
| Q2 24 | $-97.9M | $-645.4M | ||
| Q1 24 | $-86.3M | $-61.7M |
营业利润率DHCFWRD
| Q4 25 | -12.6% | -0.5% | ||
| Q3 25 | -43.4% | 2.4% | ||
| Q2 25 | -24.5% | 3.2% | ||
| Q1 25 | -2.7% | 0.8% | ||
| Q4 24 | -26.1% | 12.0% | ||
| Q3 24 | -26.5% | 3.5% | ||
| Q2 24 | -23.0% | -170.2% | ||
| Q1 24 | -23.7% | -12.1% |
净利率DHCFWRD
| Q4 25 | -5.6% | -4.5% | ||
| Q3 25 | -42.2% | -2.6% | ||
| Q2 25 | -23.9% | -2.0% | ||
| Q1 25 | -2.3% | -8.3% | ||
| Q4 24 | -23.0% | -5.8% | ||
| Q3 24 | -26.4% | -11.2% | ||
| Q2 24 | -26.3% | -100.3% | ||
| Q1 24 | -23.3% | -11.4% |
每股收益（稀释后）DHCFWRD
| Q4 25 | $-0.09 | $-0.90 | ||
| Q3 25 | $-0.68 | $-0.52 | ||
| Q2 25 | $-0.38 | $-0.41 | ||
| Q1 25 | $-0.04 | $-1.68 | ||
| Q4 24 | $-0.37 | $-1.69 | ||
| Q3 24 | $-0.41 | $-2.66 | ||
| Q2 24 | $-0.41 | $-23.47 | ||
| Q1 24 | $-0.36 | $-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 | $105.4M | $106.0M |
| 总债务越低越好 | $2.4B | $1.7B |
| 股东权益账面价值 | $1.7B | $113.3M |
| 总资产 | $4.4B | $2.7B |
| 负债/权益比越低杠杆越低 | 1.47× | 14.89× |
8季度趋势，按日历期对齐
现金及短期投资DHCFWRD
| Q4 25 | $105.4M | $106.0M | ||
| Q3 25 | $201.4M | $140.4M | ||
| Q2 25 | $141.8M | $95.1M | ||
| Q1 25 | $302.6M | $116.3M | ||
| Q4 24 | $144.6M | $104.9M | ||
| Q3 24 | $256.5M | $136.6M | ||
| Q2 24 | $265.6M | $84.9M | ||
| Q1 24 | $207.1M | $152.0M |
总债务DHCFWRD
| Q4 25 | $2.4B | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.7B |
股东权益DHCFWRD
| Q4 25 | $1.7B | $113.3M | ||
| Q3 25 | $1.7B | $139.8M | ||
| Q2 25 | $1.9B | $151.8M | ||
| Q1 25 | $1.9B | $154.6M | ||
| Q4 24 | $2.0B | $201.7M | ||
| Q3 24 | $2.0B | $226.1M | ||
| Q2 24 | $2.1B | $283.8M | ||
| Q1 24 | $2.2B | $926.1M |
总资产DHCFWRD
| Q4 25 | $4.4B | $2.7B | ||
| Q3 25 | $4.7B | $2.8B | ||
| Q2 25 | $4.8B | $2.8B | ||
| Q1 25 | $5.0B | $2.8B | ||
| Q4 24 | $5.1B | $2.8B | ||
| Q3 24 | $5.3B | $3.1B | ||
| Q2 24 | $5.3B | $3.1B | ||
| Q1 24 | $5.3B | $4.0B |
负债/权益比DHCFWRD
| Q4 25 | 1.47× | 14.89× | ||
| Q3 25 | — | 12.05× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.56× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 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 | $-19.6M | — |
| 自由现金流经营现金流 - 资本支出 | $-166.4M | — |
| 自由现金流率自由现金流/营收 | -43.8% | — |
| 资本支出强度资本支出/营收 | 38.7% | 1.3% |
| 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 | $-280.3M | — |
8季度趋势，按日历期对齐
经营现金流DHCFWRD
| Q4 25 | $-19.6M | — | ||
| Q3 25 | $-49.3M | $52.7M | ||
| Q2 25 | $53.0M | — | ||
| Q1 25 | $-3.2M | $27.6M | ||
| Q4 24 | $112.2M | $-23.2M | ||
| Q3 24 | $21.1M | $51.2M | ||
| Q2 24 | $44.3M | $-45.2M | ||
| Q1 24 | $28.6M | $-51.7M |
自由现金流DHCFWRD
| Q4 25 | $-166.4M | — | ||
| Q3 25 | $-89.8M | $48.6M | ||
| Q2 25 | $18.8M | — | ||
| Q1 25 | $-42.9M | $15.7M | ||
| Q4 24 | $-89.5M | $-30.5M | ||
| Q3 24 | $-26.1M | $40.7M | ||
| Q2 24 | $3.3M | $-59.6M | ||
| Q1 24 | $-18.1M | $-56.7M |
自由现金流率DHCFWRD
| Q4 25 | -43.8% | — | ||
| Q3 25 | -23.1% | 7.7% | ||
| Q2 25 | 4.9% | — | ||
| Q1 25 | -11.1% | 2.6% | ||
| Q4 24 | -23.6% | -4.8% | ||
| Q3 24 | -7.0% | 6.2% | ||
| Q2 24 | 0.9% | -9.3% | ||
| Q1 24 | -4.9% | -10.5% |
资本支出强度DHCFWRD
| Q4 25 | 38.7% | 1.3% | ||
| Q3 25 | 10.4% | 0.7% | ||
| Q2 25 | 8.9% | 0.8% | ||
| Q1 25 | 10.2% | 1.9% | ||
| Q4 24 | 53.1% | 1.1% | ||
| Q3 24 | 12.6% | 1.6% | ||
| Q2 24 | 11.0% | 2.2% | ||
| Q1 24 | 12.6% | 0.9% |
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
DHC
| Senior Housing Operating Portfolio Segment | $323.4M | 85% |
| Rental Income | $56.2M | 15% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
