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Expeditors International（EXPD）与新美亚（SANM）财务数据对比。点击上方公司名可切换其他公司
新美亚的季度营收约是Expeditors International的1.1倍（$3.2B vs $2.9B），Expeditors International净利率更高（7.0% vs 1.5%，领先5.5%），新美亚同比增速更快（59.0% vs -3.3%），Expeditors International自由现金流更多（$270.3M vs $91.9M），过去两年新美亚的营收复合增速更高（31.9% 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。
新美亚公司是总部位于美国加利福尼亚州圣何塞的电子制造服务（EMS）提供商，服务通信、计算机硬件领域的原始设备制造商（OEM）。集团拥有近80个生产基地，是全球规模最大的印刷电路板和背板独立制造商之一，2022年位列《财富》世界500强第482位。
EXPD vs SANM — 直观对比
营收规模更大
SANM
是对方的1.1倍
$2.9B
营收增速更快
SANM
高出62.3%
-3.3%
净利率更高
EXPD
高出5.5%
1.5%
自由现金流更多
EXPD
多$178.4M
$91.9M
两年增速更快
SANM
近两年复合增速
13.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $3.2B |
| 净利润 | $200.7M | $49.3M |
| 毛利率 | — | 7.6% |
| 营业利润率 | 8.8% | 2.3% |
| 净利率 | 7.0% | 1.5% |
| 营收同比 | -3.3% | 59.0% |
| 净利润同比 | -14.9% | -24.2% |
| 每股收益（稀释后） | $1.50 | $0.89 |
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EXPDSANM
| Q4 25 | $2.9B | $3.2B | ||
| Q3 25 | $2.9B | $2.1B | ||
| Q2 25 | $2.7B | $2.0B | ||
| Q1 25 | $2.7B | $2.0B | ||
| Q4 24 | $3.0B | $2.0B | ||
| Q3 24 | $3.0B | $2.0B | ||
| Q2 24 | $2.4B | $1.8B | ||
| Q1 24 | $2.2B | $1.8B |
净利润EXPDSANM
| Q4 25 | $200.7M | $49.3M | ||
| Q3 25 | $222.3M | $48.1M | ||
| Q2 25 | $183.6M | $68.6M | ||
| Q1 25 | $203.8M | $64.2M | ||
| Q4 24 | $235.9M | $65.0M | ||
| Q3 24 | $229.6M | $61.4M | ||
| Q2 24 | $175.5M | $51.6M | ||
| Q1 24 | $169.2M | $52.5M |
毛利率EXPDSANM
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | 9.1% | ||
| Q2 25 | — | 8.9% | ||
| Q1 25 | — | 8.9% | ||
| Q4 24 | — | 8.4% | ||
| Q3 24 | — | 8.5% | ||
| Q2 24 | — | 8.3% | ||
| Q1 24 | — | 8.4% |
营业利润率EXPDSANM
| Q4 25 | 8.8% | 2.3% | ||
| Q3 25 | 10.0% | 3.7% | ||
| Q2 25 | 9.3% | 4.7% | ||
| Q1 25 | 10.0% | 4.6% | ||
| Q4 24 | 10.2% | 4.4% | ||
| Q3 24 | 10.1% | 4.4% | ||
| Q2 24 | 9.2% | 4.5% | ||
| Q1 24 | 9.7% | 4.1% |
净利率EXPDSANM
| Q4 25 | 7.0% | 1.5% | ||
| Q3 25 | 7.7% | 2.3% | ||
| Q2 25 | 6.9% | 3.4% | ||
| Q1 25 | 7.6% | 3.2% | ||
| Q4 24 | 8.0% | 3.2% | ||
| Q3 24 | 7.7% | 3.0% | ||
| Q2 24 | 7.2% | 2.8% | ||
| Q1 24 | 7.7% | 2.9% |
每股收益（稀释后）EXPDSANM
| Q4 25 | $1.50 | $0.89 | ||
| Q3 25 | $1.64 | $0.88 | ||
| Q2 25 | $1.34 | $1.26 | ||
| Q1 25 | $1.47 | $1.16 | ||
| Q4 24 | $1.68 | $1.16 | ||
| Q3 24 | $1.63 | $1.09 | ||
| Q2 24 | $1.24 | $0.91 | ||
| Q1 24 | $1.17 | $0.93 |
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 | $1.4B |
| 总债务越低越好 | — | $2.2B |
| 股东权益账面价值 | $2.4B | $2.7B |
| 总资产 | $4.9B | $9.8B |
| 负债/权益比越低杠杆越低 | — | 0.82× |
8季度趋势，按日历期对齐
现金及短期投资EXPDSANM
| Q4 25 | $1.3B | $1.4B | ||
| Q3 25 | $1.2B | $926.3M | ||
| Q2 25 | $1.2B | $797.9M | ||
| Q1 25 | $1.3B | $647.1M | ||
| Q4 24 | $1.1B | $642.4M | ||
| Q3 24 | $1.3B | $625.9M | ||
| Q2 24 | $1.3B | $657.7M | ||
| Q1 24 | $1.4B | $650.9M |
总债务EXPDSANM
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $300.5M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益EXPDSANM
| Q4 25 | $2.4B | $2.7B | ||
| Q3 25 | $2.3B | $2.5B | ||
| Q2 25 | $2.2B | $2.5B | ||
| Q1 25 | $2.3B | $2.4B | ||
| Q4 24 | $2.2B | $2.4B | ||
| Q3 24 | $2.4B | $2.4B | ||
| Q2 24 | $2.2B | $2.3B | ||
| Q1 24 | $2.2B | $2.3B |
总资产EXPDSANM
| Q4 25 | $4.9B | $9.8B | ||
| Q3 25 | $4.8B | $5.9B | ||
| Q2 25 | $4.8B | $5.2B | ||
| Q1 25 | $4.8B | $5.0B | ||
| Q4 24 | $4.8B | $4.8B | ||
| Q3 24 | $5.2B | $4.8B | ||
| Q2 24 | $4.8B | $4.7B | ||
| Q1 24 | $4.5B | $4.7B |
负债/权益比EXPDSANM
| Q4 25 | — | 0.82× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $178.7M |
| 自由现金流经营现金流 - 资本支出 | $270.3M | $91.9M |
| 自由现金流率自由现金流/营收 | 9.5% | 2.9% |
| 资本支出强度资本支出/营收 | 0.5% | 2.7% |
| 现金转化率经营现金流/净利润 | 1.41× | 3.63× |
| 过去12个月自由现金流最近4个季度 | $953.4M | $518.3M |
8季度趋势，按日历期对齐
经营现金流EXPDSANM
| Q4 25 | $283.3M | $178.7M | ||
| Q3 25 | $201.4M | $199.1M | ||
| Q2 25 | $179.2M | $200.8M | ||
| Q1 25 | $342.6M | $156.9M | ||
| Q4 24 | $249.7M | $63.9M | ||
| Q3 24 | $90.0M | $51.9M | ||
| Q2 24 | $126.8M | $90.0M | ||
| Q1 24 | $256.9M | $72.3M |
自由现金流EXPDSANM
| Q4 25 | $270.3M | $91.9M | ||
| Q3 25 | $190.3M | $136.6M | ||
| Q2 25 | $163.3M | $163.7M | ||
| Q1 25 | $329.5M | $126.1M | ||
| Q4 24 | $239.7M | $46.9M | ||
| Q3 24 | $77.7M | $27.2M | ||
| Q2 24 | $118.8M | $67.2M | ||
| Q1 24 | $246.7M | $42.7M |
自由现金流率EXPDSANM
| Q4 25 | 9.5% | 2.9% | ||
| Q3 25 | 6.6% | 6.5% | ||
| Q2 25 | 6.2% | 8.0% | ||
| Q1 25 | 12.4% | 6.4% | ||
| Q4 24 | 8.1% | 2.3% | ||
| Q3 24 | 2.6% | 1.4% | ||
| Q2 24 | 4.9% | 3.7% | ||
| Q1 24 | 11.2% | 2.3% |
资本支出强度EXPDSANM
| Q4 25 | 0.5% | 2.7% | ||
| Q3 25 | 0.4% | 3.0% | ||
| Q2 25 | 0.6% | 1.8% | ||
| Q1 25 | 0.5% | 1.5% | ||
| Q4 24 | 0.3% | 0.9% | ||
| Q3 24 | 0.4% | 1.2% | ||
| Q2 24 | 0.3% | 1.2% | ||
| Q1 24 | 0.5% | 1.6% |
现金转化率EXPDSANM
| Q4 25 | 1.41× | 3.63× | ||
| Q3 25 | 0.91× | 4.14× | ||
| Q2 25 | 0.98× | 2.93× | ||
| Q1 25 | 1.68× | 2.44× | ||
| Q4 24 | 1.06× | 0.98× | ||
| Q3 24 | 0.39× | 0.85× | ||
| Q2 24 | 0.72× | 1.74× | ||
| Q1 24 | 1.52× | 1.38× |
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% |
SANM
| Industrial And Energy Medical Defense And Aerospace And Automotive And Transportation | $1.2B | 38% |
| ZT Systems | $1.1B | 34% |
| Other Segments CPS | $434.3M | 14% |
| CPS Third Party Revenue | $412.7M | 13% |
| Change In Accounting Method Accounted For As Change In Estimate | $2.7M | 0% |
