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Expeditors International（EXPD）与国际纸业（IP）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是Expeditors International的2.1倍（$6.0B vs $2.9B），Expeditors International净利率更高（7.0% vs 1.0%，领先6.0%），国际纸业同比增速更快（-0.6% vs -3.3%），Expeditors International自由现金流更多（$270.3M vs $94.0M），过去两年Expeditors International的营收复合增速更高（13.8% vs 12.3%）
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。
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
EXPD vs IP — 直观对比
营收规模更大
IP
是对方的2.1倍
$2.9B
营收增速更快
IP
高出2.8%
-3.3%
净利率更高
EXPD
高出6.0%
1.0%
自由现金流更多
EXPD
多$176.3M
$94.0M
两年增速更快
EXPD
近两年复合增速
12.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $6.0B |
| 净利润 | $200.7M | $60.0M |
| 毛利率 | — | — |
| 营业利润率 | 8.8% | — |
| 净利率 | 7.0% | 1.0% |
| 营收同比 | -3.3% | -0.6% |
| 净利润同比 | -14.9% | 157.1% |
| 每股收益（稀释后） | $1.50 | $0.14 |
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EXPDIP
| Q1 26 | — | $6.0B | ||
| Q4 25 | $2.9B | $4.7B | ||
| Q3 25 | $2.9B | $6.2B | ||
| Q2 25 | $2.7B | $6.8B | ||
| Q1 25 | $2.7B | $5.9B | ||
| Q4 24 | $3.0B | $4.6B | ||
| Q3 24 | $3.0B | $4.7B | ||
| Q2 24 | $2.4B | $4.7B |
净利润EXPDIP
| Q1 26 | — | $60.0M | ||
| Q4 25 | $200.7M | $-2.4B | ||
| Q3 25 | $222.3M | $-1.1B | ||
| Q2 25 | $183.6M | $75.0M | ||
| Q1 25 | $203.8M | $-105.0M | ||
| Q4 24 | $235.9M | $-147.0M | ||
| Q3 24 | $229.6M | $150.0M | ||
| Q2 24 | $175.5M | $498.0M |
毛利率EXPDIP
| Q1 26 | — | — | ||
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | 31.1% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | 27.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 28.7% | ||
| Q2 24 | — | 29.0% |
营业利润率EXPDIP
| Q1 26 | — | — | ||
| Q4 25 | 8.8% | -56.4% | ||
| Q3 25 | 10.0% | -10.8% | ||
| Q2 25 | 9.3% | 1.7% | ||
| Q1 25 | 10.0% | -2.3% | ||
| Q4 24 | 10.2% | -4.9% | ||
| Q3 24 | 10.1% | 5.1% | ||
| Q2 24 | 9.2% | 6.8% |
净利率EXPDIP
| Q1 26 | — | 1.0% | ||
| Q4 25 | 7.0% | -50.3% | ||
| Q3 25 | 7.7% | -17.7% | ||
| Q2 25 | 6.9% | 1.1% | ||
| Q1 25 | 7.6% | -1.8% | ||
| Q4 24 | 8.0% | -3.2% | ||
| Q3 24 | 7.7% | 3.2% | ||
| Q2 24 | 7.2% | 10.5% |
每股收益（稀释后）EXPDIP
| Q1 26 | — | $0.14 | ||
| Q4 25 | $1.50 | $-4.76 | ||
| Q3 25 | $1.64 | $-2.09 | ||
| Q2 25 | $1.34 | $0.14 | ||
| Q1 25 | $1.47 | $-0.24 | ||
| Q4 24 | $1.68 | $-0.42 | ||
| Q3 24 | $1.63 | $0.42 | ||
| Q2 24 | $1.24 | $1.41 |
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 | — | $8.2B |
| 股东权益账面价值 | $2.4B | $14.8B |
| 总资产 | $4.9B | $36.4B |
| 负债/权益比越低杠杆越低 | — | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资EXPDIP
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.2B | $995.0M | ||
| Q2 25 | $1.2B | $1.1B | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.1B | $1.2B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $1.3B | $1.0B |
总债务EXPDIP
| Q1 26 | — | $8.2B | ||
| Q4 25 | — | $8.8B | ||
| Q3 25 | — | $9.0B | ||
| Q2 25 | — | $9.7B | ||
| Q1 25 | — | $9.2B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | — | $5.3B | ||
| Q2 24 | — | $5.3B |
股东权益EXPDIP
| Q1 26 | — | $14.8B | ||
| Q4 25 | $2.4B | $14.8B | ||
| Q3 25 | $2.3B | $17.3B | ||
| Q2 25 | $2.2B | $18.6B | ||
| Q1 25 | $2.3B | $18.1B | ||
| Q4 24 | $2.2B | $8.2B | ||
| Q3 24 | $2.4B | $8.6B | ||
| Q2 24 | $2.2B | $8.6B |
总资产EXPDIP
| Q1 26 | — | $36.4B | ||
| Q4 25 | $4.9B | $38.0B | ||
| Q3 25 | $4.8B | $40.6B | ||
| Q2 25 | $4.8B | $42.4B | ||
| Q1 25 | $4.8B | $41.2B | ||
| Q4 24 | $4.8B | $22.8B | ||
| Q3 24 | $5.2B | $23.2B | ||
| Q2 24 | $4.8B | $23.1B |
负债/权益比EXPDIP
| Q1 26 | — | 0.55× | ||
| Q4 25 | — | 0.60× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | 0.62× | ||
| Q2 24 | — | 0.62× |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $270.3M | $94.0M |
| 自由现金流率自由现金流/营收 | 9.5% | 1.6% |
| 资本支出强度资本支出/营收 | 0.5% | 8.7% |
| 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 | $953.4M | $553.0M |
8季度趋势，按日历期对齐
经营现金流EXPDIP
| Q1 26 | — | — | ||
| Q4 25 | $283.3M | $905.0M | ||
| Q3 25 | $201.4M | $605.0M | ||
| Q2 25 | $179.2M | $476.0M | ||
| Q1 25 | $342.6M | $-288.0M | ||
| Q4 24 | $249.7M | $397.0M | ||
| Q3 24 | $90.0M | $521.0M | ||
| Q2 24 | $126.8M | $365.0M |
自由现金流EXPDIP
| Q1 26 | — | $94.0M | ||
| Q4 25 | $270.3M | $255.0M | ||
| Q3 25 | $190.3M | $150.0M | ||
| Q2 25 | $163.3M | $54.0M | ||
| Q1 25 | $329.5M | $-618.0M | ||
| Q4 24 | $239.7M | $137.0M | ||
| Q3 24 | $77.7M | $309.0M | ||
| Q2 24 | $118.8M | $167.0M |
自由现金流率EXPDIP
| Q1 26 | — | 1.6% | ||
| Q4 25 | 9.5% | 5.4% | ||
| Q3 25 | 6.6% | 2.4% | ||
| Q2 25 | 6.2% | 0.8% | ||
| Q1 25 | 12.4% | -10.5% | ||
| Q4 24 | 8.1% | 3.0% | ||
| Q3 24 | 2.6% | 6.6% | ||
| Q2 24 | 4.9% | 3.5% |
资本支出强度EXPDIP
| Q1 26 | — | 8.7% | ||
| Q4 25 | 0.5% | 13.7% | ||
| Q3 25 | 0.4% | 7.3% | ||
| Q2 25 | 0.6% | 6.2% | ||
| Q1 25 | 0.5% | 5.6% | ||
| Q4 24 | 0.3% | 5.7% | ||
| Q3 24 | 0.4% | 4.5% | ||
| Q2 24 | 0.3% | 4.2% |
现金转化率EXPDIP
| Q1 26 | — | — | ||
| Q4 25 | 1.41× | — | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 0.98× | 6.35× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.06× | — | ||
| Q3 24 | 0.39× | 3.47× | ||
| Q2 24 | 0.72× | 0.73× |
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% |
IP
| Packaging Solutions North America | $3.6B | 61% |
| Packaging Solutions EMEA | $2.3B | 39% |
| Corporate and Inter-segment Sales | $22.0M | 0% |
