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Expeditors International（EXPD）与EchoStar CORP（SATS）财务数据对比。点击上方公司名可切换其他公司
EchoStar CORP的季度营收约是Expeditors International的1.3倍（$3.8B vs $2.9B），Expeditors International净利率更高（7.0% vs -31.8%，领先38.8%），Expeditors International同比增速更快（-3.3% vs -4.3%），Expeditors International自由现金流更多（$270.3M vs $-583.4M），过去两年Expeditors International的营收复合增速更高（13.8% vs -2.8%）
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。
EchoStar Corp曾于2004年至2011年与TiVo公司发生专利纠纷，TiVo主张前者侵犯其DVR技术相关专利。该案先后由美国得克萨斯州东区联邦地区法院、联邦巡回上诉法院审理，涉及专利侵权判定、禁令条款、侵权产品改造、藐视法庭裁定及处罚等多个争议点。
EXPD vs SATS — 直观对比
营收规模更大
SATS
是对方的1.3倍
$2.9B
营收增速更快
EXPD
高出1.0%
-4.3%
净利率更高
EXPD
高出38.8%
-31.8%
自由现金流更多
EXPD
多$853.7M
$-583.4M
两年增速更快
EXPD
近两年复合增速
-2.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $3.8B |
| 净利润 | $200.7M | $-1.2B |
| 毛利率 | — | — |
| 营业利润率 | 8.8% | -20.5% |
| 净利率 | 7.0% | -31.8% |
| 营收同比 | -3.3% | -4.3% |
| 净利润同比 | -14.9% | -460.1% |
| 每股收益（稀释后） | $1.50 | $-4.27 |
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EXPDSATS
| Q4 25 | $2.9B | $3.8B | ||
| Q3 25 | $2.9B | $3.6B | ||
| Q2 25 | $2.7B | $3.7B | ||
| Q1 25 | $2.7B | $3.9B | ||
| Q4 24 | $3.0B | $4.0B | ||
| Q3 24 | $3.0B | $3.9B | ||
| Q2 24 | $2.4B | $4.0B | ||
| Q1 24 | $2.2B | $4.0B |
净利润EXPDSATS
| Q4 25 | $200.7M | $-1.2B | ||
| Q3 25 | $222.3M | $-12.8B | ||
| Q2 25 | $183.6M | $-306.1M | ||
| Q1 25 | $203.8M | $-202.7M | ||
| Q4 24 | $235.9M | $335.2M | ||
| Q3 24 | $229.6M | $-141.8M | ||
| Q2 24 | $175.5M | $-205.6M | ||
| Q1 24 | $169.2M | $-107.4M |
营业利润率EXPDSATS
| Q4 25 | 8.8% | -20.5% | ||
| Q3 25 | 10.0% | -460.5% | ||
| Q2 25 | 9.3% | -5.7% | ||
| Q1 25 | 10.0% | -2.3% | ||
| Q4 24 | 10.2% | -1.6% | ||
| Q3 24 | 10.1% | -4.1% | ||
| Q2 24 | 9.2% | -1.7% | ||
| Q1 24 | 9.7% | -0.4% |
净利率EXPDSATS
| Q4 25 | 7.0% | -31.8% | ||
| Q3 25 | 7.7% | -353.6% | ||
| Q2 25 | 6.9% | -8.2% | ||
| Q1 25 | 7.6% | -5.2% | ||
| Q4 24 | 8.0% | 8.5% | ||
| Q3 24 | 7.7% | -3.6% | ||
| Q2 24 | 7.2% | -5.2% | ||
| Q1 24 | 7.7% | -2.7% |
每股收益（稀释后）EXPDSATS
| Q4 25 | $1.50 | $-4.27 | ||
| Q3 25 | $1.64 | $-44.37 | ||
| Q2 25 | $1.34 | $-1.06 | ||
| Q1 25 | $1.47 | $-0.71 | ||
| Q4 24 | $1.68 | $1.24 | ||
| Q3 24 | $1.63 | $-0.52 | ||
| Q2 24 | $1.24 | $-0.76 | ||
| Q1 24 | $1.17 | $-0.40 |
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 | $3.0B |
| 总债务越低越好 | — | $18.7B |
| 股东权益账面价值 | $2.4B | $5.8B |
| 总资产 | $4.9B | $43.0B |
| 负债/权益比越低杠杆越低 | — | 3.24× |
8季度趋势，按日历期对齐
现金及短期投资EXPDSATS
| Q4 25 | $1.3B | $3.0B | ||
| Q3 25 | $1.2B | $3.9B | ||
| Q2 25 | $1.2B | $4.3B | ||
| Q1 25 | $1.3B | $5.1B | ||
| Q4 24 | $1.1B | $5.5B | ||
| Q3 24 | $1.3B | $674.4M | ||
| Q2 24 | $1.3B | $520.6M | ||
| Q1 24 | $1.4B | $766.4M |
总债务EXPDSATS
| Q4 25 | — | $18.7B | ||
| Q3 25 | — | $21.8B | ||
| Q2 25 | — | $25.4B | ||
| Q1 25 | — | $25.3B | ||
| Q4 24 | — | $25.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $951.0M |
股东权益EXPDSATS
| Q4 25 | $2.4B | $5.8B | ||
| Q3 25 | $2.3B | $7.0B | ||
| Q2 25 | $2.2B | $19.7B | ||
| Q1 25 | $2.3B | $20.0B | ||
| Q4 24 | $2.2B | $20.2B | ||
| Q3 24 | $2.4B | $19.4B | ||
| Q2 24 | $2.2B | $19.6B | ||
| Q1 24 | $2.2B | $19.8B |
总资产EXPDSATS
| Q4 25 | $4.9B | $43.0B | ||
| Q3 25 | $4.8B | $45.3B | ||
| Q2 25 | $4.8B | $59.9B | ||
| Q1 25 | $4.8B | $60.6B | ||
| Q4 24 | $4.8B | $60.9B | ||
| Q3 24 | $5.2B | $57.5B | ||
| Q2 24 | $4.8B | $55.3B | ||
| Q1 24 | $4.5B | $55.6B |
负债/权益比EXPDSATS
| Q4 25 | — | 3.24× | ||
| Q3 25 | — | 3.13× | ||
| Q2 25 | — | 1.29× | ||
| Q1 25 | — | 1.27× | ||
| Q4 24 | — | 1.27× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.05× |
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 | $-425.3M |
| 自由现金流经营现金流 - 资本支出 | $270.3M | $-583.4M |
| 自由现金流率自由现金流/营收 | 9.5% | -15.4% |
| 资本支出强度资本支出/营收 | 0.5% | 4.2% |
| 现金转化率经营现金流/净利润 | 1.41× | — |
| 过去12个月自由现金流最近4个季度 | $953.4M | $-1.1B |
8季度趋势，按日历期对齐
经营现金流EXPDSATS
| Q4 25 | $283.3M | $-425.3M | ||
| Q3 25 | $201.4M | $111.7M | ||
| Q2 25 | $179.2M | $7.5M | ||
| Q1 25 | $342.6M | $206.8M | ||
| Q4 24 | $249.7M | $45.6M | ||
| Q3 24 | $90.0M | $276.2M | ||
| Q2 24 | $126.8M | $479.7M | ||
| Q1 24 | $256.9M | $451.3M |
自由现金流EXPDSATS
| Q4 25 | $270.3M | $-583.4M | ||
| Q3 25 | $190.3M | $-144.4M | ||
| Q2 25 | $163.3M | $-285.7M | ||
| Q1 25 | $329.5M | $-51.7M | ||
| Q4 24 | $239.7M | $-298.7M | ||
| Q3 24 | $77.7M | $-57.5M | ||
| Q2 24 | $118.8M | $132.4M | ||
| Q1 24 | $246.7M | $-68.4M |
自由现金流率EXPDSATS
| Q4 25 | 9.5% | -15.4% | ||
| Q3 25 | 6.6% | -4.0% | ||
| Q2 25 | 6.2% | -7.7% | ||
| Q1 25 | 12.4% | -1.3% | ||
| Q4 24 | 8.1% | -7.5% | ||
| Q3 24 | 2.6% | -1.5% | ||
| Q2 24 | 4.9% | 3.3% | ||
| Q1 24 | 11.2% | -1.7% |
资本支出强度EXPDSATS
| Q4 25 | 0.5% | 4.2% | ||
| Q3 25 | 0.4% | 7.1% | ||
| Q2 25 | 0.6% | 7.9% | ||
| Q1 25 | 0.5% | 6.7% | ||
| Q4 24 | 0.3% | 8.7% | ||
| Q3 24 | 0.4% | 8.6% | ||
| Q2 24 | 0.3% | 8.8% | ||
| Q1 24 | 0.5% | 12.9% |
现金转化率EXPDSATS
| Q4 25 | 1.41× | — | ||
| Q3 25 | 0.91× | — | ||
| Q2 25 | 0.98× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.06× | 0.14× | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 0.72× | — | ||
| 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% |
SATS
| Pay Tv | $2.4B | 62% |
| Wireless Services And Related Revenue | $846.5M | 22% |
| Equipment Sales And Other Revenue | $346.5M | 9% |
| Broadband And Satellite Services And Other Revenue | $264.1M | 7% |
