vs
Expeditors International（EXPD）与梅西百货（M）财务数据对比。点击上方公司名可切换其他公司
梅西百货的季度营收约是Expeditors International的1.7倍（$4.7B vs $2.9B），Expeditors International净利率更高（7.0% vs 0.2%，领先6.8%），梅西百货同比增速更快（-0.6% vs -3.3%），Expeditors International自由现金流更多（$270.3M vs $-101.0M），过去两年Expeditors International的营收复合增速更高（13.8% vs -23.8%）
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。
梅西百货是美国知名百货控股集团，1929年成立时名为联合百货，最初持有Abraham & Straus、Lazarus等多个区域连锁百货品牌，次年布鲁明戴尔正式加入。集团早年频繁开展资产并购与剥离，1994年收购1858年创立的老牌百货梅西，随后更名并发展为美国头部百货零售企业。
EXPD vs M — 直观对比
营收规模更大
M
是对方的1.7倍
$2.9B
营收增速更快
M
高出2.7%
-3.3%
净利率更高
EXPD
高出6.8%
0.2%
自由现金流更多
EXPD
多$371.3M
$-101.0M
两年增速更快
EXPD
近两年复合增速
-23.8%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $4.7B |
| 净利润 | $200.7M | $11.0M |
| 毛利率 | — | 39.4% |
| 营业利润率 | 8.8% | 0.9% |
| 净利率 | 7.0% | 0.2% |
| 营收同比 | -3.3% | -0.6% |
| 净利润同比 | -14.9% | -60.7% |
| 每股收益（稀释后） | $1.50 | $0.04 |
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EXPDM
| Q4 25 | $2.9B | $4.7B | ||
| Q3 25 | $2.9B | $4.8B | ||
| Q2 25 | $2.7B | $4.6B | ||
| Q1 25 | $2.7B | $7.8B | ||
| Q4 24 | $3.0B | $4.7B | ||
| Q3 24 | $3.0B | $4.9B | ||
| Q2 24 | $2.4B | $4.8B | ||
| Q1 24 | $2.2B | $8.1B |
净利润EXPDM
| Q4 25 | $200.7M | $11.0M | ||
| Q3 25 | $222.3M | $87.0M | ||
| Q2 25 | $183.6M | $38.0M | ||
| Q1 25 | $203.8M | $342.0M | ||
| Q4 24 | $235.9M | $28.0M | ||
| Q3 24 | $229.6M | $150.0M | ||
| Q2 24 | $175.5M | $62.0M | ||
| Q1 24 | $169.2M | $-71.0M |
毛利率EXPDM
| Q4 25 | — | 39.4% | ||
| Q3 25 | — | 39.7% | ||
| Q2 25 | — | 39.2% | ||
| Q1 25 | — | 35.7% | ||
| Q4 24 | — | 39.6% | ||
| Q3 24 | — | 40.5% | ||
| Q2 24 | — | 39.2% | ||
| Q1 24 | — | 37.5% |
营业利润率EXPDM
| Q4 25 | 8.8% | 0.9% | ||
| Q3 25 | 10.0% | 3.1% | ||
| Q2 25 | 9.3% | 2.0% | ||
| Q1 25 | 10.0% | 6.4% | ||
| Q4 24 | 10.2% | 1.3% | ||
| Q3 24 | 10.1% | 4.5% | ||
| Q2 24 | 9.2% | 2.6% | ||
| Q1 24 | 9.7% | -0.9% |
净利率EXPDM
| Q4 25 | 7.0% | 0.2% | ||
| Q3 25 | 7.7% | 1.8% | ||
| Q2 25 | 6.9% | 0.8% | ||
| Q1 25 | 7.6% | 4.4% | ||
| Q4 24 | 8.0% | 0.6% | ||
| Q3 24 | 7.7% | 3.0% | ||
| Q2 24 | 7.2% | 1.3% | ||
| Q1 24 | 7.7% | -0.9% |
每股收益（稀释后）EXPDM
| Q4 25 | $1.50 | $0.04 | ||
| Q3 25 | $1.64 | $0.31 | ||
| Q2 25 | $1.34 | $0.13 | ||
| Q1 25 | $1.47 | $1.22 | ||
| Q4 24 | $1.68 | $0.10 | ||
| Q3 24 | $1.63 | $0.53 | ||
| Q2 24 | $1.24 | $0.22 | ||
| Q1 24 | $1.17 | $-0.25 |
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 | $447.0M |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $2.4B | $4.3B |
| 总资产 | $4.9B | $17.1B |
| 负债/权益比越低杠杆越低 | — | 0.56× |
8季度趋势，按日历期对齐
现金及短期投资EXPDM
| Q4 25 | $1.3B | $447.0M | ||
| Q3 25 | $1.2B | $829.0M | ||
| Q2 25 | $1.2B | $932.0M | ||
| Q1 25 | $1.3B | $1.3B | ||
| Q4 24 | $1.1B | $315.0M | ||
| Q3 24 | $1.3B | $646.0M | ||
| Q2 24 | $1.3B | $876.0M | ||
| Q1 24 | $1.4B | $1.0B |
总债务EXPDM
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.4B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $3.0B | ||
| Q1 24 | — | $3.0B |
股东权益EXPDM
| Q4 25 | $2.4B | $4.3B | ||
| Q3 25 | $2.3B | $4.5B | ||
| Q2 25 | $2.2B | $4.5B | ||
| Q1 25 | $2.3B | $4.6B | ||
| Q4 24 | $2.2B | $4.1B | ||
| Q3 24 | $2.4B | $4.3B | ||
| Q2 24 | $2.2B | $4.2B | ||
| Q1 24 | $2.2B | $4.1B |
总资产EXPDM
| Q4 25 | $4.9B | $17.1B | ||
| Q3 25 | $4.8B | $15.6B | ||
| Q2 25 | $4.8B | $16.1B | ||
| Q1 25 | $4.8B | $16.4B | ||
| Q4 24 | $4.8B | $17.3B | ||
| Q3 24 | $5.2B | $15.8B | ||
| Q2 24 | $4.8B | $16.4B | ||
| Q1 24 | $4.5B | $16.2B |
负债/权益比EXPDM
| Q4 25 | — | 0.56× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | — | 0.67× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.72× | ||
| Q1 24 | — | 0.72× |
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 | $-8.0M |
| 自由现金流经营现金流 - 资本支出 | $270.3M | $-101.0M |
| 自由现金流率自由现金流/营收 | 9.5% | -2.1% |
| 资本支出强度资本支出/营收 | 0.5% | 2.0% |
| 现金转化率经营现金流/净利润 | 1.41× | -0.73× |
| 过去12个月自由现金流最近4个季度 | $953.4M | $1.2B |
8季度趋势，按日历期对齐
经营现金流EXPDM
| Q4 25 | $283.3M | $-8.0M | ||
| Q3 25 | $201.4M | $319.0M | ||
| Q2 25 | $179.2M | $-64.0M | ||
| Q1 25 | $342.6M | $1.3B | ||
| Q4 24 | $249.7M | $-167.0M | ||
| Q3 24 | $90.0M | $8.0M | ||
| Q2 24 | $126.8M | $129.0M | ||
| Q1 24 | $256.9M | $1.1B |
自由现金流EXPDM
| Q4 25 | $270.3M | $-101.0M | ||
| Q3 25 | $190.3M | $240.0M | ||
| Q2 25 | $163.3M | $-164.0M | ||
| Q1 25 | $329.5M | $1.2B | ||
| Q4 24 | $239.7M | $-295.0M | ||
| Q3 24 | $77.7M | $-109.0M | ||
| Q2 24 | $118.8M | $-25.0M | ||
| Q1 24 | $246.7M | $1.0B |
自由现金流率EXPDM
| Q4 25 | 9.5% | -2.1% | ||
| Q3 25 | 6.6% | 5.0% | ||
| Q2 25 | 6.2% | -3.6% | ||
| Q1 25 | 12.4% | 15.3% | ||
| Q4 24 | 8.1% | -6.2% | ||
| Q3 24 | 2.6% | -2.2% | ||
| Q2 24 | 4.9% | -0.5% | ||
| Q1 24 | 11.2% | 12.3% |
资本支出强度EXPDM
| Q4 25 | 0.5% | 2.0% | ||
| Q3 25 | 0.4% | 1.6% | ||
| Q2 25 | 0.6% | 2.2% | ||
| Q1 25 | 0.5% | 1.5% | ||
| Q4 24 | 0.3% | 2.7% | ||
| Q3 24 | 0.4% | 2.4% | ||
| Q2 24 | 0.3% | 3.2% | ||
| Q1 24 | 0.5% | 1.8% |
现金转化率EXPDM
| Q4 25 | 1.41× | -0.73× | ||
| Q3 25 | 0.91× | 3.67× | ||
| Q2 25 | 0.98× | -1.68× | ||
| Q1 25 | 1.68× | 3.82× | ||
| Q4 24 | 1.06× | -5.96× | ||
| Q3 24 | 0.39× | 0.05× | ||
| Q2 24 | 0.72× | 2.08× | ||
| Q1 24 | 1.52× | — |
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% |
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
