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Expeditors International（EXPD）与西南航空（LUV）财务数据对比。点击上方公司名可切换其他公司
西南航空的季度营收约是Expeditors International的2.5倍（$7.2B vs $2.9B），Expeditors International净利率更高（7.0% vs 3.1%，领先3.9%），西南航空同比增速更快（12.8% vs -3.3%），过去两年Expeditors International的营收复合增速更高（13.8% vs -0.7%）
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。
西南航空是美国知名低成本航空公司，总部位于得克萨斯州达拉斯市洛夫菲尔德片区。截至2024年，按客运量计算其为北美第四大航空公司，旗下机队全部采用波音737机型，运营航线覆盖美国42个州、华盛顿哥伦比亚特区的100余个目的地。
EXPD vs LUV — 直观对比
营收规模更大
LUV
是对方的2.5倍
$2.9B
营收增速更快
LUV
高出16.1%
-3.3%
净利率更高
EXPD
高出3.9%
3.1%
两年增速更快
EXPD
近两年复合增速
-0.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $7.2B |
| 净利润 | $200.7M | $227.0M |
| 毛利率 | — | — |
| 营业利润率 | 8.8% | — |
| 净利率 | 7.0% | 3.1% |
| 营收同比 | -3.3% | 12.8% |
| 净利润同比 | -14.9% | 252.3% |
| 每股收益（稀释后） | $1.50 | $0.45 |
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EXPDLUV
| Q1 26 | — | $7.2B | ||
| Q4 25 | $2.9B | $7.4B | ||
| Q3 25 | $2.9B | $6.9B | ||
| Q2 25 | $2.7B | $7.2B | ||
| Q1 25 | $2.7B | $6.4B | ||
| Q4 24 | $3.0B | $6.9B | ||
| Q3 24 | $3.0B | $6.9B | ||
| Q2 24 | $2.4B | $7.4B |
净利润EXPDLUV
| Q1 26 | — | $227.0M | ||
| Q4 25 | $200.7M | $323.0M | ||
| Q3 25 | $222.3M | $54.0M | ||
| Q2 25 | $183.6M | $213.0M | ||
| Q1 25 | $203.8M | $-149.0M | ||
| Q4 24 | $235.9M | $262.0M | ||
| Q3 24 | $229.6M | $67.0M | ||
| Q2 24 | $175.5M | $367.0M |
营业利润率EXPDLUV
| Q1 26 | — | — | ||
| Q4 25 | 8.8% | 5.3% | ||
| Q3 25 | 10.0% | 0.5% | ||
| Q2 25 | 9.3% | 3.1% | ||
| Q1 25 | 10.0% | -3.5% | ||
| Q4 24 | 10.2% | 4.0% | ||
| Q3 24 | 10.1% | 0.6% | ||
| Q2 24 | 9.2% | 5.4% |
净利率EXPDLUV
| Q1 26 | — | 3.1% | ||
| Q4 25 | 7.0% | 4.3% | ||
| Q3 25 | 7.7% | 0.8% | ||
| Q2 25 | 6.9% | 2.9% | ||
| Q1 25 | 7.6% | -2.3% | ||
| Q4 24 | 8.0% | 3.8% | ||
| Q3 24 | 7.7% | 1.0% | ||
| Q2 24 | 7.2% | 5.0% |
每股收益（稀释后）EXPDLUV
| Q1 26 | — | $0.45 | ||
| Q4 25 | $1.50 | $0.56 | ||
| Q3 25 | $1.64 | $0.10 | ||
| Q2 25 | $1.34 | $0.39 | ||
| Q1 25 | $1.47 | $-0.26 | ||
| Q4 24 | $1.68 | $0.46 | ||
| Q3 24 | $1.63 | $0.11 | ||
| Q2 24 | $1.24 | $0.58 |
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 | $3.3B |
| 总债务越低越好 | — | $5.4B |
| 股东权益账面价值 | $2.4B | $6.9B |
| 总资产 | $4.9B | $20.4B |
| 负债/权益比越低杠杆越低 | — | 0.78× |
8季度趋势，按日历期对齐
现金及短期投资EXPDLUV
| Q1 26 | — | $3.3B | ||
| Q4 25 | $1.3B | $3.2B | ||
| Q3 25 | $1.2B | $3.0B | ||
| Q2 25 | $1.2B | $3.8B | ||
| Q1 25 | $1.3B | $8.3B | ||
| Q4 24 | $1.1B | $8.7B | ||
| Q3 24 | $1.3B | $9.4B | ||
| Q2 24 | $1.3B | $10.0B |
总债务EXPDLUV
| Q1 26 | — | $5.4B | ||
| Q4 25 | — | $4.6B | ||
| Q3 25 | — | $4.1B | ||
| Q2 25 | — | $4.1B | ||
| Q1 25 | — | $4.1B | ||
| Q4 24 | — | $5.1B | ||
| Q3 24 | — | $5.1B | ||
| Q2 24 | — | $5.1B |
股东权益EXPDLUV
| Q1 26 | — | $6.9B | ||
| Q4 25 | $2.4B | $8.0B | ||
| Q3 25 | $2.3B | $7.8B | ||
| Q2 25 | $2.2B | $8.0B | ||
| Q1 25 | $2.3B | $9.4B | ||
| Q4 24 | $2.2B | $10.3B | ||
| Q3 24 | $2.4B | $10.4B | ||
| Q2 24 | $2.2B | $10.5B |
总资产EXPDLUV
| Q1 26 | — | $20.4B | ||
| Q4 25 | $4.9B | $29.1B | ||
| Q3 25 | $4.8B | $28.3B | ||
| Q2 25 | $4.8B | $28.7B | ||
| Q1 25 | $4.8B | $33.2B | ||
| Q4 24 | $4.8B | $33.8B | ||
| Q3 24 | $5.2B | $34.8B | ||
| Q2 24 | $4.8B | $35.6B |
负债/权益比EXPDLUV
| Q1 26 | — | 0.78× | ||
| Q4 25 | — | 0.57× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 0.44× | ||
| Q4 24 | — | 0.49× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.48× |
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 | $1.4B |
| 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% | 8.7% |
| 现金转化率经营现金流/净利润 | 1.41× | 6.25× |
| 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EXPDLUV
| Q1 26 | — | $1.4B | ||
| Q4 25 | $283.3M | $294.0M | ||
| Q3 25 | $201.4M | $287.0M | ||
| Q2 25 | $179.2M | $401.0M | ||
| Q1 25 | $342.6M | $860.0M | ||
| Q4 24 | $249.7M | $476.0M | ||
| Q3 24 | $90.0M | $113.0M | ||
| Q2 24 | $126.8M | $-23.0M |
自由现金流EXPDLUV
| Q1 26 | — | — | ||
| Q4 25 | $270.3M | $-565.0M | ||
| Q3 25 | $190.3M | $-391.0M | ||
| Q2 25 | $163.3M | $-234.0M | ||
| Q1 25 | $329.5M | $359.0M | ||
| Q4 24 | $239.7M | $16.0M | ||
| Q3 24 | $77.7M | $-404.0M | ||
| Q2 24 | $118.8M | $-517.0M |
自由现金流率EXPDLUV
| Q1 26 | — | — | ||
| Q4 25 | 9.5% | -7.6% | ||
| Q3 25 | 6.6% | -5.6% | ||
| Q2 25 | 6.2% | -3.2% | ||
| Q1 25 | 12.4% | 5.6% | ||
| Q4 24 | 8.1% | 0.2% | ||
| Q3 24 | 2.6% | -5.9% | ||
| Q2 24 | 4.9% | -7.0% |
资本支出强度EXPDLUV
| Q1 26 | — | 8.7% | ||
| Q4 25 | 0.5% | 11.5% | ||
| Q3 25 | 0.4% | 9.8% | ||
| Q2 25 | 0.6% | 8.8% | ||
| Q1 25 | 0.5% | 7.8% | ||
| Q4 24 | 0.3% | 6.6% | ||
| Q3 24 | 0.4% | 7.5% | ||
| Q2 24 | 0.3% | 6.7% |
现金转化率EXPDLUV
| Q1 26 | — | 6.25× | ||
| Q4 25 | 1.41× | 0.91× | ||
| Q3 25 | 0.91× | 5.31× | ||
| Q2 25 | 0.98× | 1.88× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.06× | 1.82× | ||
| Q3 24 | 0.39× | 1.69× | ||
| Q2 24 | 0.72× | -0.06× |
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% |
LUV
| Passenger | $6.6B | 91% |
| Other | $614.0M | 8% |
| Freight | $44.0M | 1% |
