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Expeditors International（EXPD）与Steel Dynamics（STLD）财务数据对比。点击上方公司名可切换其他公司
Steel Dynamics的季度营收约是Expeditors International的1.8倍（$5.2B vs $2.9B），Steel Dynamics净利率更高（7.7% vs 7.0%，领先0.7%），Steel Dynamics同比增速更快（17.9% vs -3.3%），过去两年Expeditors International的营收复合增速更高（13.8% vs 6.0%）
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。
Steel Dynamics是总部位于美国印第安纳州韦恩堡的钢铁生产企业，钢铁产能达1300万吨，为美国第三大碳钢产品生产商，按利润率及每吨运营利润率计算属于美国盈利能力最强的钢企之一，凭借2021年营收位列2022年财富美国500强第196位。
EXPD vs STLD — 直观对比
营收规模更大
STLD
是对方的1.8倍
$2.9B
营收增速更快
STLD
高出21.3%
-3.3%
净利率更高
STLD
高出0.7%
7.0%
两年增速更快
EXPD
近两年复合增速
6.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $5.2B |
| 净利润 | $200.7M | $400.1M |
| 毛利率 | — | 14.7% |
| 营业利润率 | 8.8% | 10.3% |
| 净利率 | 7.0% | 7.7% |
| 营收同比 | -3.3% | 17.9% |
| 净利润同比 | -14.9% | 51.3% |
| 每股收益（稀释后） | $1.50 | $2.78 |
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EXPDSTLD
| Q1 26 | — | $5.2B | ||
| Q4 25 | $2.9B | $4.4B | ||
| Q3 25 | $2.9B | $4.8B | ||
| Q2 25 | $2.7B | $4.6B | ||
| Q1 25 | $2.7B | $4.4B | ||
| Q4 24 | $3.0B | $3.9B | ||
| Q3 24 | $3.0B | $4.3B | ||
| Q2 24 | $2.4B | $4.6B |
净利润EXPDSTLD
| Q1 26 | — | $400.1M | ||
| Q4 25 | $200.7M | $266.0M | ||
| Q3 25 | $222.3M | $403.7M | ||
| Q2 25 | $183.6M | $298.7M | ||
| Q1 25 | $203.8M | $217.2M | ||
| Q4 24 | $235.9M | $207.3M | ||
| Q3 24 | $229.6M | $317.8M | ||
| Q2 24 | $175.5M | $428.0M |
毛利率EXPDSTLD
| Q1 26 | — | 14.7% | ||
| Q4 25 | — | 12.0% | ||
| Q3 25 | — | 15.7% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | — | 11.1% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | — | 13.9% | ||
| Q2 24 | — | 16.7% |
营业利润率EXPDSTLD
| Q1 26 | — | 10.3% | ||
| Q4 25 | 8.8% | 7.0% | ||
| Q3 25 | 10.0% | 10.5% | ||
| Q2 25 | 9.3% | 8.4% | ||
| Q1 25 | 10.0% | 6.3% | ||
| Q4 24 | 10.2% | 6.1% | ||
| Q3 24 | 10.1% | 9.1% | ||
| Q2 24 | 9.2% | 12.1% |
净利率EXPDSTLD
| Q1 26 | — | 7.7% | ||
| Q4 25 | 7.0% | 6.0% | ||
| Q3 25 | 7.7% | 8.4% | ||
| Q2 25 | 6.9% | 6.5% | ||
| Q1 25 | 7.6% | 5.0% | ||
| Q4 24 | 8.0% | 5.4% | ||
| Q3 24 | 7.7% | 7.3% | ||
| Q2 24 | 7.2% | 9.2% |
每股收益（稀释后）EXPDSTLD
| Q1 26 | — | $2.78 | ||
| Q4 25 | $1.50 | $1.80 | ||
| Q3 25 | $1.64 | $2.74 | ||
| Q2 25 | $1.34 | $2.01 | ||
| Q1 25 | $1.47 | $1.44 | ||
| Q4 24 | $1.68 | $1.40 | ||
| Q3 24 | $1.63 | $2.05 | ||
| Q2 24 | $1.24 | $2.72 |
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 | $556.5M |
| 总债务越低越好 | — | $4.2B |
| 股东权益账面价值 | $2.4B | $9.0B |
| 总资产 | $4.9B | $16.7B |
| 负债/权益比越低杠杆越低 | — | 0.47× |
8季度趋势，按日历期对齐
现金及短期投资EXPDSTLD
| Q1 26 | — | $556.5M | ||
| Q4 25 | $1.3B | $769.9M | ||
| Q3 25 | $1.2B | $770.4M | ||
| Q2 25 | $1.2B | $497.6M | ||
| Q1 25 | $1.3B | $1.2B | ||
| Q4 24 | $1.1B | $737.3M | ||
| Q3 24 | $1.3B | $1.7B | ||
| Q2 24 | $1.3B | $1.2B |
总债务EXPDSTLD
| Q1 26 | — | $4.2B | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $3.8B | ||
| Q2 25 | — | $3.8B | ||
| Q1 25 | — | $4.2B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | — | $3.7B | ||
| Q2 24 | — | $3.1B |
股东权益EXPDSTLD
| Q1 26 | — | $9.0B | ||
| Q4 25 | $2.4B | $9.0B | ||
| Q3 25 | $2.3B | $9.0B | ||
| Q2 25 | $2.2B | $8.9B | ||
| Q1 25 | $2.3B | $8.8B | ||
| Q4 24 | $2.2B | $8.9B | ||
| Q3 24 | $2.4B | $9.1B | ||
| Q2 24 | $2.2B | $9.1B |
总资产EXPDSTLD
| Q1 26 | — | $16.7B | ||
| Q4 25 | $4.9B | $16.4B | ||
| Q3 25 | $4.8B | $16.0B | ||
| Q2 25 | $4.8B | $15.5B | ||
| Q1 25 | $4.8B | $15.9B | ||
| Q4 24 | $4.8B | $14.9B | ||
| Q3 24 | $5.2B | $15.7B | ||
| Q2 24 | $4.8B | $15.1B |
负债/权益比EXPDSTLD
| Q1 26 | — | 0.47× | ||
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | — | 0.43× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.41× | ||
| Q2 24 | — | 0.34× |
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 | $148.3M |
| 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% | — |
| 现金转化率经营现金流/净利润 | 1.41× | 0.37× |
| 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EXPDSTLD
| Q1 26 | — | $148.3M | ||
| Q4 25 | $283.3M | $272.7M | ||
| Q3 25 | $201.4M | $722.6M | ||
| Q2 25 | $179.2M | $301.6M | ||
| Q1 25 | $342.6M | $152.6M | ||
| Q4 24 | $249.7M | $346.9M | ||
| Q3 24 | $90.0M | $759.9M | ||
| Q2 24 | $126.8M | $382.6M |
自由现金流EXPDSTLD
| Q1 26 | — | — | ||
| Q4 25 | $270.3M | $84.2M | ||
| Q3 25 | $190.3M | $556.9M | ||
| Q2 25 | $163.3M | $13.3M | ||
| Q1 25 | $329.5M | $-152.9M | ||
| Q4 24 | $239.7M | $-106.3M | ||
| Q3 24 | $77.7M | $138.5M | ||
| Q2 24 | $118.8M | $-36.6M |
自由现金流率EXPDSTLD
| Q1 26 | — | — | ||
| Q4 25 | 9.5% | 1.9% | ||
| Q3 25 | 6.6% | 11.5% | ||
| Q2 25 | 6.2% | 0.3% | ||
| Q1 25 | 12.4% | -3.5% | ||
| Q4 24 | 8.1% | -2.7% | ||
| Q3 24 | 2.6% | 3.2% | ||
| Q2 24 | 4.9% | -0.8% |
资本支出强度EXPDSTLD
| Q1 26 | — | — | ||
| Q4 25 | 0.5% | 4.3% | ||
| Q3 25 | 0.4% | 3.4% | ||
| Q2 25 | 0.6% | 6.3% | ||
| Q1 25 | 0.5% | 7.0% | ||
| Q4 24 | 0.3% | 11.7% | ||
| Q3 24 | 0.4% | 14.3% | ||
| Q2 24 | 0.3% | 9.0% |
现金转化率EXPDSTLD
| Q1 26 | — | 0.37× | ||
| Q4 25 | 1.41× | 1.03× | ||
| Q3 25 | 0.91× | 1.79× | ||
| Q2 25 | 0.98× | 1.01× | ||
| Q1 25 | 1.68× | 0.70× | ||
| Q4 24 | 1.06× | 1.67× | ||
| Q3 24 | 0.39× | 2.39× | ||
| Q2 24 | 0.72× | 0.89× |
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% |
STLD
| Steel | $3.5B | 68% |
| Metals Recycling | $593.2M | 11% |
| Other | $490.1M | 9% |
| Steel Fabrication | $355.4M | 7% |
| Aluminum | $227.4M | 4% |
