vs
Expeditors International（EXPD）与LINCOLN NATIONAL CORP（LNC）财务数据对比。点击上方公司名可切换其他公司
LINCOLN NATIONAL CORP的季度营收约是Expeditors International的1.7倍（$4.9B vs $2.9B），LINCOLN NATIONAL CORP净利率更高（15.3% vs 7.0%，领先8.3%），LINCOLN NATIONAL CORP同比增速更快（-2.8% vs -3.3%），过去两年Expeditors International的营收复合增速更高（13.8% vs 9.4%）
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。
林肯国民公司是美国财富200强控股企业，通过旗下多家子公司开展保险、投资管理等多元金融业务，“林肯金融集团”是该公司及其所有子公司共同使用的市场推广品牌名称。
EXPD vs LNC — 直观对比
营收规模更大
LNC
是对方的1.7倍
$2.9B
营收增速更快
LNC
高出0.6%
-3.3%
净利率更高
LNC
高出8.3%
7.0%
两年增速更快
EXPD
近两年复合增速
9.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $4.9B |
| 净利润 | $200.7M | $755.0M |
| 毛利率 | — | — |
| 营业利润率 | 8.8% | 18.6% |
| 净利率 | 7.0% | 15.3% |
| 营收同比 | -3.3% | -2.8% |
| 净利润同比 | -14.9% | -55.2% |
| 每股收益（稀释后） | $1.50 | $4.32 |
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EXPDLNC
| Q4 25 | $2.9B | $4.9B | ||
| Q3 25 | $2.9B | $4.6B | ||
| Q2 25 | $2.7B | $4.0B | ||
| Q1 25 | $2.7B | $4.7B | ||
| Q4 24 | $3.0B | $5.1B | ||
| Q3 24 | $3.0B | $4.1B | ||
| Q2 24 | $2.4B | $5.2B | ||
| Q1 24 | $2.2B | $4.1B |
净利润EXPDLNC
| Q4 25 | $200.7M | $755.0M | ||
| Q3 25 | $222.3M | $445.0M | ||
| Q2 25 | $183.6M | $699.0M | ||
| Q1 25 | $203.8M | $-722.0M | ||
| Q4 24 | $235.9M | $1.7B | ||
| Q3 24 | $229.6M | $-528.0M | ||
| Q2 24 | $175.5M | $895.0M | ||
| Q1 24 | $169.2M | $1.2B |
营业利润率EXPDLNC
| Q4 25 | 8.8% | 18.6% | ||
| Q3 25 | 10.0% | 11.5% | ||
| Q2 25 | 9.3% | 21.0% | ||
| Q1 25 | 10.0% | -20.2% | ||
| Q4 24 | 10.2% | 41.5% | ||
| Q3 24 | 10.1% | -17.1% | ||
| Q2 24 | 9.2% | 21.3% | ||
| Q1 24 | 9.7% | 37.1% |
净利率EXPDLNC
| Q4 25 | 7.0% | 15.3% | ||
| Q3 25 | 7.7% | 9.8% | ||
| Q2 25 | 6.9% | 17.3% | ||
| Q1 25 | 7.6% | -15.4% | ||
| Q4 24 | 8.0% | 33.3% | ||
| Q3 24 | 7.7% | -12.8% | ||
| Q2 24 | 7.2% | 17.4% | ||
| Q1 24 | 7.7% | 29.7% |
每股收益（稀释后）EXPDLNC
| Q4 25 | $1.50 | $4.32 | ||
| Q3 25 | $1.64 | $2.12 | ||
| Q2 25 | $1.34 | $3.80 | ||
| Q1 25 | $1.47 | $-4.41 | ||
| Q4 24 | $1.68 | $9.66 | ||
| Q3 24 | $1.63 | $-3.29 | ||
| Q2 24 | $1.24 | $5.11 | ||
| Q1 24 | $1.17 | $6.93 |
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 | — | $6.3B |
| 股东权益账面价值 | $2.4B | $10.9B |
| 总资产 | $4.9B | $417.2B |
| 负债/权益比越低杠杆越低 | — | 0.57× |
8季度趋势，按日历期对齐
现金及短期投资EXPDLNC
| 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 | — |
总债务EXPDLNC
| Q4 25 | — | $6.3B | ||
| Q3 25 | — | $5.8B | ||
| Q2 25 | — | $5.8B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $5.7B | ||
| Q1 24 | — | $5.7B |
股东权益EXPDLNC
| Q4 25 | $2.4B | $10.9B | ||
| Q3 25 | $2.3B | $10.5B | ||
| Q2 25 | $2.2B | $9.5B | ||
| Q1 25 | $2.3B | $8.2B | ||
| Q4 24 | $2.2B | $8.3B | ||
| Q3 24 | $2.4B | $9.0B | ||
| Q2 24 | $2.2B | $7.9B | ||
| Q1 24 | $2.2B | $7.5B |
总资产EXPDLNC
| Q4 25 | $4.9B | $417.2B | ||
| Q3 25 | $4.8B | $415.3B | ||
| Q2 25 | $4.8B | $399.1B | ||
| Q1 25 | $4.8B | $382.9B | ||
| Q4 24 | $4.8B | $390.8B | ||
| Q3 24 | $5.2B | $396.8B | ||
| Q2 24 | $4.8B | $384.5B | ||
| Q1 24 | $4.5B | $383.4B |
负债/权益比EXPDLNC
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.65× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.76× |
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 | $233.0M |
| 自由现金流经营现金流 - 资本支出 | $270.3M | — |
| 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 | 0.5% | — |
| 现金转化率经营现金流/净利润 | 1.41× | 0.31× |
| 过去12个月自由现金流最近4个季度 | $953.4M | — |
8季度趋势，按日历期对齐
经营现金流EXPDLNC
| Q4 25 | $283.3M | $233.0M | ||
| Q3 25 | $201.4M | $-1.1B | ||
| Q2 25 | $179.2M | $1.0B | ||
| Q1 25 | $342.6M | $-272.0M | ||
| Q4 24 | $249.7M | $222.0M | ||
| Q3 24 | $90.0M | $-27.0M | ||
| Q2 24 | $126.8M | $-859.0M | ||
| Q1 24 | $256.9M | $-1.3B |
自由现金流EXPDLNC
| Q4 25 | $270.3M | — | ||
| Q3 25 | $190.3M | — | ||
| Q2 25 | $163.3M | — | ||
| Q1 25 | $329.5M | — | ||
| Q4 24 | $239.7M | — | ||
| Q3 24 | $77.7M | — | ||
| Q2 24 | $118.8M | — | ||
| Q1 24 | $246.7M | — |
自由现金流率EXPDLNC
| Q4 25 | 9.5% | — | ||
| Q3 25 | 6.6% | — | ||
| Q2 25 | 6.2% | — | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | 8.1% | — | ||
| Q3 24 | 2.6% | — | ||
| Q2 24 | 4.9% | — | ||
| Q1 24 | 11.2% | — |
资本支出强度EXPDLNC
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 0.6% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.5% | — |
现金转化率EXPDLNC
| Q4 25 | 1.41× | 0.31× | ||
| Q3 25 | 0.91× | -2.56× | ||
| Q2 25 | 0.98× | 1.45× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.06× | 0.13× | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 0.72× | -0.96× | ||
| Q1 24 | 1.52× | -1.10× |
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% |
LNC
| Life Segment | $1.6B | 33% |
| Group Protection Segment | $1.5B | 31% |
| Annuities Segment | $1.3B | 27% |
| Other | $435.0M | 9% |
