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Expeditors International（EXPD）与孩之宝（HAS）财务数据对比。点击上方公司名可切换其他公司
Expeditors International的季度营收约是孩之宝的2.0倍（$2.9B vs $1.4B），孩之宝净利率更高（13.9% vs 7.0%，领先6.9%），孩之宝同比增速更快（31.3% vs -3.3%），孩之宝自由现金流更多（$389.5M vs $270.3M），过去两年孩之宝的营收复合增速更高（38.2% vs 13.8%）
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。
孩之宝是1923年12月6日成立的美国跨国玩具制造与娱乐控股企业，总部位于罗德岛州波塔基特。旗下拥有Kenner、米尔顿·布拉德利、派克兄弟、威世智等知名品牌，持有大量热门IP商标权，业务覆盖玩具生产、游戏开发、娱乐内容出品等多个领域。
EXPD vs HAS — 直观对比
营收规模更大
EXPD
是对方的2.0倍
$1.4B
营收增速更快
HAS
高出34.6%
-3.3%
净利率更高
HAS
高出6.9%
7.0%
自由现金流更多
HAS
多$119.2M
$270.3M
两年增速更快
HAS
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $1.4B |
| 净利润 | $200.7M | $201.6M |
| 毛利率 | — | 68.7% |
| 营业利润率 | 8.8% | 20.6% |
| 净利率 | 7.0% | 13.9% |
| 营收同比 | -3.3% | 31.3% |
| 净利润同比 | -14.9% | 687.8% |
| 每股收益（稀释后） | $1.50 | $1.46 |
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EXPDHAS
| Q4 25 | $2.9B | $1.4B | ||
| Q3 25 | $2.9B | $1.4B | ||
| Q2 25 | $2.7B | $980.8M | ||
| Q1 25 | $2.7B | $887.1M | ||
| Q4 24 | $3.0B | $1.1B | ||
| Q3 24 | $3.0B | $1.3B | ||
| Q2 24 | $2.4B | $995.3M | ||
| Q1 24 | $2.2B | $757.3M |
净利润EXPDHAS
| Q4 25 | $200.7M | $201.6M | ||
| Q3 25 | $222.3M | $233.2M | ||
| Q2 25 | $183.6M | $-855.8M | ||
| Q1 25 | $203.8M | $98.6M | ||
| Q4 24 | $235.9M | $-34.3M | ||
| Q3 24 | $229.6M | $223.2M | ||
| Q2 24 | $175.5M | $138.5M | ||
| Q1 24 | $169.2M | $58.2M |
毛利率EXPDHAS
| Q4 25 | — | 68.7% | ||
| Q3 25 | — | 70.1% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 76.9% | ||
| Q4 24 | — | 67.4% | ||
| Q3 24 | — | 70.4% | ||
| Q2 24 | — | 76.1% | ||
| Q1 24 | — | 73.0% |
营业利润率EXPDHAS
| Q4 25 | 8.8% | 20.6% | ||
| Q3 25 | 10.0% | 24.6% | ||
| Q2 25 | 9.3% | -81.4% | ||
| Q1 25 | 10.0% | 19.2% | ||
| Q4 24 | 10.2% | 5.4% | ||
| Q3 24 | 10.1% | 23.6% | ||
| Q2 24 | 9.2% | 21.3% | ||
| Q1 24 | 9.7% | 15.3% |
净利率EXPDHAS
| Q4 25 | 7.0% | 13.9% | ||
| Q3 25 | 7.7% | 16.8% | ||
| Q2 25 | 6.9% | -87.3% | ||
| Q1 25 | 7.6% | 11.1% | ||
| Q4 24 | 8.0% | -3.1% | ||
| Q3 24 | 7.7% | 17.4% | ||
| Q2 24 | 7.2% | 13.9% | ||
| Q1 24 | 7.7% | 7.7% |
每股收益（稀释后）EXPDHAS
| Q4 25 | $1.50 | $1.46 | ||
| Q3 25 | $1.64 | $1.64 | ||
| Q2 25 | $1.34 | $-6.10 | ||
| Q1 25 | $1.47 | $0.70 | ||
| Q4 24 | $1.68 | $-0.25 | ||
| Q3 24 | $1.63 | $1.59 | ||
| Q2 24 | $1.24 | $0.99 | ||
| Q1 24 | $1.17 | $0.42 |
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 | $1.3B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $2.4B | $565.5M |
| 总资产 | $4.9B | $5.6B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资EXPDHAS
| Q4 25 | $1.3B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.4B | — |
股东权益EXPDHAS
| Q4 25 | $2.4B | $565.5M | ||
| Q3 25 | $2.3B | $433.8M | ||
| Q2 25 | $2.2B | $269.7M | ||
| Q1 25 | $2.3B | $1.2B | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $2.4B | $1.3B | ||
| Q2 24 | $2.2B | $1.2B | ||
| Q1 24 | $2.2B | $1.0B |
总资产EXPDHAS
| Q4 25 | $4.9B | $5.6B | ||
| Q3 25 | $4.8B | $5.5B | ||
| Q2 25 | $4.8B | $5.2B | ||
| Q1 25 | $4.8B | $6.0B | ||
| Q4 24 | $4.8B | $6.3B | ||
| Q3 24 | $5.2B | $7.2B | ||
| Q2 24 | $4.8B | $6.9B | ||
| Q1 24 | $4.5B | $6.2B |
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 | $283.3M | $403.2M |
| 自由现金流经营现金流 - 资本支出 | $270.3M | $389.5M |
| 自由现金流率自由现金流/营收 | 9.5% | 26.9% |
| 资本支出强度资本支出/营收 | 0.5% | 0.9% |
| 现金转化率经营现金流/净利润 | 1.41× | 2.00× |
| 过去12个月自由现金流最近4个季度 | $953.4M | $829.9M |
8季度趋势，按日历期对齐
经营现金流EXPDHAS
| Q4 25 | $283.3M | $403.2M | ||
| Q3 25 | $201.4M | $280.6M | ||
| Q2 25 | $179.2M | $71.3M | ||
| Q1 25 | $342.6M | $138.1M | ||
| Q4 24 | $249.7M | $259.8M | ||
| Q3 24 | $90.0M | $222.5M | ||
| Q2 24 | $126.8M | $187.3M | ||
| Q1 24 | $256.9M | $177.8M |
自由现金流EXPDHAS
| Q4 25 | $270.3M | $389.5M | ||
| Q3 25 | $190.3M | $260.9M | ||
| Q2 25 | $163.3M | $55.2M | ||
| Q1 25 | $329.5M | $124.3M | ||
| Q4 24 | $239.7M | $200.8M | ||
| Q3 24 | $77.7M | $174.0M | ||
| Q2 24 | $118.8M | $135.4M | ||
| Q1 24 | $246.7M | $132.0M |
自由现金流率EXPDHAS
| Q4 25 | 9.5% | 26.9% | ||
| Q3 25 | 6.6% | 18.8% | ||
| Q2 25 | 6.2% | 5.6% | ||
| Q1 25 | 12.4% | 14.0% | ||
| Q4 24 | 8.1% | 18.2% | ||
| Q3 24 | 2.6% | 13.6% | ||
| Q2 24 | 4.9% | 13.6% | ||
| Q1 24 | 11.2% | 17.4% |
资本支出强度EXPDHAS
| Q4 25 | 0.5% | 0.9% | ||
| Q3 25 | 0.4% | 1.4% | ||
| Q2 25 | 0.6% | 1.6% | ||
| Q1 25 | 0.5% | 1.6% | ||
| Q4 24 | 0.3% | 5.4% | ||
| Q3 24 | 0.4% | 3.8% | ||
| Q2 24 | 0.3% | 5.2% | ||
| Q1 24 | 0.5% | 6.0% |
现金转化率EXPDHAS
| Q4 25 | 1.41× | 2.00× | ||
| Q3 25 | 0.91× | 1.20× | ||
| Q2 25 | 0.98× | — | ||
| Q1 25 | 1.68× | 1.40× | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 0.39× | 1.00× | ||
| Q2 24 | 0.72× | 1.35× | ||
| Q1 24 | 1.52× | 3.05× |
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
EXPD
| Customs Brokerage And Other Services | $1.1B | 40% |
| Airfreight Services | $1.1B | 39% |
| Ocean Freight And Ocean Services | $611.4M | 21% |
HAS
| Grow Brands | $1.1B | 75% |
| Optimize Brands | $188.7M | 13% |
| Digital And Licensing Gaming | $135.7M | 9% |
| Class Of Principal Product Family Brands | $13.1M | 1% |
| Filmand TV | $2.4M | 0% |
