vs
Expeditors International（EXPD）与Restaurant Brands International Inc.（QSR）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Restaurant Brands International Inc.的1.2倍（$2.9B vs $2.5B），Expeditors International净利率更高（7.0% vs 6.3%，领先0.7%），Restaurant Brands International Inc.同比增速更快（7.4% vs -3.3%），Restaurant Brands International Inc.自由现金流更多（$453.0M vs $270.3M），过去两年Restaurant Brands International Inc.的营收复合增速更高（19.1% 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。
Restaurant Brands International（简称RBI）是美加合资的跨国快餐控股企业，2014年由汉堡王与加拿大咖啡连锁品牌蒂姆·霍顿斯以125亿美元合并成立，后续先后收购Popeyes、Firehouse Subs两大品牌，现为全球第五大快餐运营商，规模仅次于赛百味、麦当劳、星巴克和百胜餐饮。
EXPD vs QSR — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $2.5B |
| 净利润 | $200.7M | $155.0M |
| 毛利率 | — | — |
| 营业利润率 | 8.8% | 25.2% |
| 净利率 | 7.0% | 6.3% |
| 营收同比 | -3.3% | 7.4% |
| 净利润同比 | -14.9% | -57.1% |
| 每股收益（稀释后） | $1.50 | $0.33 |
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
| Q4 25 | $2.9B | $2.5B | ||
| Q3 25 | $2.9B | $2.4B | ||
| Q2 25 | $2.7B | $2.4B | ||
| Q1 25 | $2.7B | $2.1B | ||
| Q4 24 | $3.0B | $2.3B | ||
| Q3 24 | $3.0B | $2.3B | ||
| Q2 24 | $2.4B | $2.1B | ||
| Q1 24 | $2.2B | $1.7B |
| Q4 25 | $200.7M | $155.0M | ||
| Q3 25 | $222.3M | $436.0M | ||
| Q2 25 | $183.6M | $263.0M | ||
| Q1 25 | $203.8M | $221.0M | ||
| Q4 24 | $235.9M | $361.0M | ||
| Q3 24 | $229.6M | $357.0M | ||
| Q2 24 | $175.5M | $399.0M | ||
| Q1 24 | $169.2M | $328.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 65.2% |
| Q4 25 | 8.8% | 25.2% | ||
| Q3 25 | 10.0% | 27.1% | ||
| Q2 25 | 9.3% | 20.0% | ||
| Q1 25 | 10.0% | 20.6% | ||
| Q4 24 | 10.2% | 27.7% | ||
| Q3 24 | 10.1% | 25.2% | ||
| Q2 24 | 9.2% | 31.9% | ||
| Q1 24 | 9.7% | 31.3% |
| Q4 25 | 7.0% | 6.3% | ||
| Q3 25 | 7.7% | 17.8% | ||
| Q2 25 | 6.9% | 10.9% | ||
| Q1 25 | 7.6% | 10.5% | ||
| Q4 24 | 8.0% | 15.7% | ||
| Q3 24 | 7.7% | 15.6% | ||
| Q2 24 | 7.2% | 19.2% | ||
| Q1 24 | 7.7% | 18.9% |
| Q4 25 | $1.50 | $0.33 | ||
| Q3 25 | $1.64 | $0.96 | ||
| Q2 25 | $1.34 | $0.57 | ||
| Q1 25 | $1.47 | $0.49 | ||
| Q4 24 | $1.68 | $0.79 | ||
| Q3 24 | $1.63 | $0.79 | ||
| Q2 24 | $1.24 | $0.88 | ||
| Q1 24 | $1.17 | $0.72 |
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 | — | $13.3B |
| 股东权益账面价值 | $2.4B | $3.6B |
| 总资产 | $4.9B | $25.6B |
| 负债/权益比越低杠杆越低 | — | 3.65× |
8季度趋势，按日历期对齐
| 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 | — |
| Q4 25 | — | $13.3B | ||
| Q3 25 | — | $13.5B | ||
| Q2 25 | — | $13.6B | ||
| Q1 25 | — | $13.6B | ||
| Q4 24 | — | $13.6B | ||
| Q3 24 | — | $13.7B | ||
| Q2 24 | — | $13.7B | ||
| Q1 24 | — | $12.9B |
| Q4 25 | $2.4B | $3.6B | ||
| Q3 25 | $2.3B | $3.4B | ||
| Q2 25 | $2.2B | $3.3B | ||
| Q1 25 | $2.3B | $3.1B | ||
| Q4 24 | $2.2B | $3.1B | ||
| Q3 24 | $2.4B | $3.2B | ||
| Q2 24 | $2.2B | $3.1B | ||
| Q1 24 | $2.2B | $3.0B |
| Q4 25 | $4.9B | $25.6B | ||
| Q3 25 | $4.8B | $25.7B | ||
| Q2 25 | $4.8B | $25.7B | ||
| Q1 25 | $4.8B | $24.9B | ||
| Q4 24 | $4.8B | $24.6B | ||
| Q3 24 | $5.2B | $25.1B | ||
| Q2 24 | $4.8B | $24.8B | ||
| Q1 24 | $4.5B | $23.1B |
| Q4 25 | — | 3.65× | ||
| Q3 25 | — | 3.99× | ||
| Q2 25 | — | 4.10× | ||
| Q1 25 | — | 4.37× | ||
| Q4 24 | — | 4.39× | ||
| Q3 24 | — | 4.22× | ||
| Q2 24 | — | 4.46× | ||
| Q1 24 | — | 4.35× |
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 | $555.0M |
| 自由现金流经营现金流 - 资本支出 | $270.3M | $453.0M |
| 自由现金流率自由现金流/营收 | 9.5% | 18.4% |
| 资本支出强度资本支出/营收 | 0.5% | 4.1% |
| 现金转化率经营现金流/净利润 | 1.41× | 3.58× |
| 过去12个月自由现金流最近4个季度 | $953.4M | $1.4B |
8季度趋势，按日历期对齐
| Q4 25 | $283.3M | $555.0M | ||
| Q3 25 | $201.4M | $592.0M | ||
| Q2 25 | $179.2M | $449.0M | ||
| Q1 25 | $342.6M | $118.0M | ||
| Q4 24 | $249.7M | $481.0M | ||
| Q3 24 | $90.0M | $540.0M | ||
| Q2 24 | $126.8M | $334.0M | ||
| Q1 24 | $256.9M | $148.0M |
| Q4 25 | $270.3M | $453.0M | ||
| Q3 25 | $190.3M | $531.0M | ||
| Q2 25 | $163.3M | $411.0M | ||
| Q1 25 | $329.5M | $54.0M | ||
| Q4 24 | $239.7M | $404.0M | ||
| Q3 24 | $77.7M | $485.0M | ||
| Q2 24 | $118.8M | $291.0M | ||
| Q1 24 | $246.7M | $122.0M |
| Q4 25 | 9.5% | 18.4% | ||
| Q3 25 | 6.6% | 21.7% | ||
| Q2 25 | 6.2% | 17.1% | ||
| Q1 25 | 12.4% | 2.6% | ||
| Q4 24 | 8.1% | 17.6% | ||
| Q3 24 | 2.6% | 21.2% | ||
| Q2 24 | 4.9% | 14.0% | ||
| Q1 24 | 11.2% | 7.0% |
| Q4 25 | 0.5% | 4.1% | ||
| Q3 25 | 0.4% | 2.5% | ||
| Q2 25 | 0.6% | 1.6% | ||
| Q1 25 | 0.5% | 3.0% | ||
| Q4 24 | 0.3% | 3.4% | ||
| Q3 24 | 0.4% | 2.4% | ||
| Q2 24 | 0.3% | 2.1% | ||
| Q1 24 | 0.5% | 1.5% |
| Q4 25 | 1.41× | 3.58× | ||
| Q3 25 | 0.91× | 1.36× | ||
| Q2 25 | 0.98× | 1.71× | ||
| Q1 25 | 1.68× | 0.53× | ||
| Q4 24 | 1.06× | 1.33× | ||
| Q3 24 | 0.39× | 1.51× | ||
| Q2 24 | 0.72× | 0.84× | ||
| Q1 24 | 1.52× | 0.45× |
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% |
QSR
| CA | $1.0B | 41% |
| Other | $330.0M | 13% |
| Advertising | $308.0M | 12% |
| Others | $284.0M | 12% |
| Popeyes Louisiana Kitchen | $195.0M | 8% |
| Burger King | $185.0M | 8% |
| Royalty | $87.0M | 4% |
| Firehouse Subs | $59.0M | 2% |
| Franchisor | $7.0M | 0% |
