vs
DT Midstream, Inc.（DTM）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DT Midstream, Inc.的2.0倍（$631.2M vs $317.0M），DT Midstream, Inc.净利率更高（35.0% vs -4.5%，领先39.5%），DT Midstream, Inc.同比增速更快（27.3% vs -0.3%），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% vs 7.9%）
ONEOK是美国油气中游运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及存储服务，是财富500强企业及标普500指数成分股。公司1906年成立时名为俄克拉荷马天然气公司，1980年更为现名。
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。
DTM vs FWRD — 直观对比
营收规模更大
FWRD
是对方的2.0倍
$317.0M
营收增速更快
DTM
高出27.6%
-0.3%
净利率更高
DTM
高出39.5%
-4.5%
两年增速更快
DTM
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $317.0M | $631.2M |
| 净利润 | $111.0M | $-28.3M |
| 毛利率 | — | — |
| 营业利润率 | 49.2% | -0.5% |
| 净利率 | 35.0% | -4.5% |
| 营收同比 | 27.3% | -0.3% |
| 净利润同比 | 52.1% | 22.2% |
| 每股收益（稀释后） | $1.07 | $-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DTMFWRD
| Q4 25 | $317.0M | $631.2M | ||
| Q3 25 | $314.0M | $631.8M | ||
| Q2 25 | $309.0M | $618.8M | ||
| Q1 25 | $303.0M | $613.3M | ||
| Q4 24 | $249.0M | $632.8M | ||
| Q3 24 | $248.0M | $655.9M | ||
| Q2 24 | $244.0M | $643.7M | ||
| Q1 24 | $240.0M | $541.8M |
净利润DTMFWRD
| Q4 25 | $111.0M | $-28.3M | ||
| Q3 25 | $115.0M | $-16.3M | ||
| Q2 25 | $107.0M | $-12.6M | ||
| Q1 25 | $108.0M | $-50.6M | ||
| Q4 24 | $73.0M | $-36.4M | ||
| Q3 24 | $88.0M | $-73.4M | ||
| Q2 24 | $96.0M | $-645.4M | ||
| Q1 24 | $97.0M | $-61.7M |
营业利润率DTMFWRD
| Q4 25 | 49.2% | -0.5% | ||
| Q3 25 | 49.4% | 2.4% | ||
| Q2 25 | 50.2% | 3.2% | ||
| Q1 25 | 48.8% | 0.8% | ||
| Q4 24 | 45.4% | 12.0% | ||
| Q3 24 | 49.2% | 3.5% | ||
| Q2 24 | 53.3% | -170.2% | ||
| Q1 24 | 51.7% | -12.1% |
净利率DTMFWRD
| Q4 25 | 35.0% | -4.5% | ||
| Q3 25 | 36.6% | -2.6% | ||
| Q2 25 | 34.6% | -2.0% | ||
| Q1 25 | 35.6% | -8.3% | ||
| Q4 24 | 29.3% | -5.8% | ||
| Q3 24 | 35.5% | -11.2% | ||
| Q2 24 | 39.3% | -100.3% | ||
| Q1 24 | 40.4% | -11.4% |
每股收益（稀释后）DTMFWRD
| Q4 25 | $1.07 | $-0.90 | ||
| Q3 25 | $1.13 | $-0.52 | ||
| Q2 25 | $1.04 | $-0.41 | ||
| Q1 25 | $1.06 | $-1.68 | ||
| Q4 24 | $0.73 | $-1.69 | ||
| Q3 24 | $0.90 | $-2.66 | ||
| Q2 24 | $0.98 | $-23.47 | ||
| Q1 24 | $0.99 | $-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 | $54.0M | $106.0M |
| 总债务越低越好 | — | $1.7B |
| 股东权益账面价值 | $4.7B | $113.3M |
| 总资产 | $10.1B | $2.7B |
| 负债/权益比越低杠杆越低 | — | 14.89× |
8季度趋势，按日历期对齐
现金及短期投资DTMFWRD
| Q4 25 | $54.0M | $106.0M | ||
| Q3 25 | $98.0M | $140.4M | ||
| Q2 25 | $74.0M | $95.1M | ||
| Q1 25 | $83.0M | $116.3M | ||
| Q4 24 | $68.0M | $104.9M | ||
| Q3 24 | $77.0M | $136.6M | ||
| Q2 24 | $73.0M | $84.9M | ||
| Q1 24 | $41.0M | $152.0M |
总债务DTMFWRD
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $3.4B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.7B |
股东权益DTMFWRD
| Q4 25 | $4.7B | $113.3M | ||
| Q3 25 | $4.7B | $139.8M | ||
| Q2 25 | $4.7B | $151.8M | ||
| Q1 25 | $4.6B | $154.6M | ||
| Q4 24 | $4.6B | $201.7M | ||
| Q3 24 | $4.2B | $226.1M | ||
| Q2 24 | $4.2B | $283.8M | ||
| Q1 24 | $4.2B | $926.1M |
总资产DTMFWRD
| Q4 25 | $10.1B | $2.7B | ||
| Q3 25 | $10.1B | $2.8B | ||
| Q2 25 | $10.0B | $2.8B | ||
| Q1 25 | $9.9B | $2.8B | ||
| Q4 24 | $9.9B | $2.8B | ||
| Q3 24 | $8.6B | $3.1B | ||
| Q2 24 | $9.0B | $3.1B | ||
| Q1 24 | $9.0B | $4.0B |
负债/权益比DTMFWRD
| Q4 25 | — | 14.89× | ||
| Q3 25 | — | 12.05× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.72× | — | ||
| 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 | $161.0M | — |
| 自由现金流经营现金流 - 资本支出 | $30.0M | — |
| 自由现金流率自由现金流/营收 | 9.5% | — |
| 资本支出强度资本支出/营收 | 41.3% | 1.3% |
| 现金转化率经营现金流/净利润 | 1.45× | — |
| 过去12个月自由现金流最近4个季度 | $441.0M | — |
8季度趋势，按日历期对齐
经营现金流DTMFWRD
| Q4 25 | $161.0M | — | ||
| Q3 25 | $274.0M | $52.7M | ||
| Q2 25 | $185.0M | — | ||
| Q1 25 | $247.0M | $27.6M | ||
| Q4 24 | $152.0M | $-23.2M | ||
| Q3 24 | $205.0M | $51.2M | ||
| Q2 24 | $165.0M | $-45.2M | ||
| Q1 24 | $241.0M | $-51.7M |
自由现金流DTMFWRD
| Q4 25 | $30.0M | — | ||
| Q3 25 | $131.0M | $48.6M | ||
| Q2 25 | $104.0M | — | ||
| Q1 25 | $176.0M | $15.7M | ||
| Q4 24 | $62.0M | $-30.5M | ||
| Q3 24 | $124.0M | $40.7M | ||
| Q2 24 | $84.0M | $-59.6M | ||
| Q1 24 | $143.0M | $-56.7M |
自由现金流率DTMFWRD
| Q4 25 | 9.5% | — | ||
| Q3 25 | 41.7% | 7.7% | ||
| Q2 25 | 33.7% | — | ||
| Q1 25 | 58.1% | 2.6% | ||
| Q4 24 | 24.9% | -4.8% | ||
| Q3 24 | 50.0% | 6.2% | ||
| Q2 24 | 34.4% | -9.3% | ||
| Q1 24 | 59.6% | -10.5% |
资本支出强度DTMFWRD
| Q4 25 | 41.3% | 1.3% | ||
| Q3 25 | 45.5% | 0.7% | ||
| Q2 25 | 26.2% | 0.8% | ||
| Q1 25 | 23.4% | 1.9% | ||
| Q4 24 | 36.1% | 1.1% | ||
| Q3 24 | 32.7% | 1.6% | ||
| Q2 24 | 33.2% | 2.2% | ||
| Q1 24 | 40.8% | 0.9% |
现金转化率DTMFWRD
| Q4 25 | 1.45× | — | ||
| Q3 25 | 2.38× | — | ||
| Q2 25 | 1.73× | — | ||
| Q1 25 | 2.29× | — | ||
| Q4 24 | 2.08× | — | ||
| Q3 24 | 2.33× | — | ||
| Q2 24 | 1.72× | — | ||
| Q1 24 | 2.48× | — |
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
DTM
| Pipeline Segment | $173.0M | 55% |
| Gathering Segment | $144.0M | 45% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
