vs
Expeditors International（EXPD）与Constellation Brands（STZ）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Constellation Brands的1.3倍（$2.9B vs $2.2B），Constellation Brands净利率更高（22.6% vs 7.0%，领先15.6%），Expeditors International同比增速更快（-3.3% vs -9.8%），Constellation Brands自由现金流更多（$370.9M vs $270.3M），过去两年Expeditors International的营收复合增速更高（13.8% vs 1.9%）
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。
Constellation Brands, Inc.是总部位于美国纽约州罗切斯特的《财富》500强企业，主营啤酒、葡萄酒及烈酒的生产与营销，按销售额计算是美国最大的啤酒进口商，在全美主要啤酒供应商中市场份额位列第三。公司还通过与Canopy Growth合作在医用及娱乐大麻领域有大额投资，现有约40处设施、近9000名员工。
EXPD vs STZ — 直观对比
营收规模更大
EXPD
是对方的1.3倍
$2.2B
营收增速更快
EXPD
高出6.4%
-9.8%
净利率更高
STZ
高出15.6%
7.0%
自由现金流更多
STZ
多$100.6M
$270.3M
两年增速更快
EXPD
近两年复合增速
1.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.9B | $2.2B |
| 净利润 | $200.7M | $502.8M |
| 毛利率 | — | 53.2% |
| 营业利润率 | 8.8% | 31.1% |
| 净利率 | 7.0% | 22.6% |
| 营收同比 | -3.3% | -9.8% |
| 净利润同比 | -14.9% | -18.4% |
| 每股收益（稀释后） | $1.50 | — |
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EXPDSTZ
| Q4 25 | $2.9B | $2.2B | ||
| Q3 25 | $2.9B | $2.5B | ||
| Q2 25 | $2.7B | $2.5B | ||
| Q1 25 | $2.7B | $2.2B | ||
| Q4 24 | $3.0B | $2.5B | ||
| Q3 24 | $3.0B | $2.9B | ||
| Q2 24 | $2.4B | $2.7B | ||
| Q1 24 | $2.2B | $2.1B |
净利润EXPDSTZ
| Q4 25 | $200.7M | $502.8M | ||
| Q3 25 | $222.3M | $466.0M | ||
| Q2 25 | $183.6M | $516.1M | ||
| Q1 25 | $203.8M | $-375.3M | ||
| Q4 24 | $235.9M | $615.9M | ||
| Q3 24 | $229.6M | $-1.2B | ||
| Q2 24 | $175.5M | $877.0M | ||
| Q1 24 | $169.2M | $392.4M |
毛利率EXPDSTZ
| Q4 25 | — | 53.2% | ||
| Q3 25 | — | 52.8% | ||
| Q2 25 | — | 50.4% | ||
| Q1 25 | — | 51.5% | ||
| Q4 24 | — | 52.1% | ||
| Q3 24 | — | 51.8% | ||
| Q2 24 | — | 52.7% | ||
| Q1 24 | — | 48.6% |
营业利润率EXPDSTZ
| Q4 25 | 8.8% | 31.1% | ||
| Q3 25 | 10.0% | 35.2% | ||
| Q2 25 | 9.3% | 28.4% | ||
| Q1 25 | 10.0% | -6.9% | ||
| Q4 24 | 10.2% | 32.2% | ||
| Q3 24 | 10.1% | -42.1% | ||
| Q2 24 | 9.2% | 35.4% | ||
| Q1 24 | 9.7% | 29.4% |
净利率EXPDSTZ
| Q4 25 | 7.0% | 22.6% | ||
| Q3 25 | 7.7% | 18.8% | ||
| Q2 25 | 6.9% | 20.5% | ||
| Q1 25 | 7.6% | -17.3% | ||
| Q4 24 | 8.0% | 25.0% | ||
| Q3 24 | 7.7% | -41.1% | ||
| Q2 24 | 7.2% | 32.9% | ||
| Q1 24 | 7.7% | 18.3% |
每股收益（稀释后）EXPDSTZ
| Q4 25 | $1.50 | — | ||
| Q3 25 | $1.64 | — | ||
| Q2 25 | $1.34 | — | ||
| Q1 25 | $1.47 | — | ||
| Q4 24 | $1.68 | — | ||
| Q3 24 | $1.63 | — | ||
| Q2 24 | $1.24 | — | ||
| Q1 24 | $1.17 | — |
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 | $152.4M |
| 总债务越低越好 | — | $10.3B |
| 股东权益账面价值 | $2.4B | $7.7B |
| 总资产 | $4.9B | $21.7B |
| 负债/权益比越低杠杆越低 | — | 1.33× |
8季度趋势，按日历期对齐
现金及短期投资EXPDSTZ
| Q4 25 | $1.3B | $152.4M | ||
| Q3 25 | $1.2B | $72.0M | ||
| Q2 25 | $1.2B | $73.9M | ||
| Q1 25 | $1.3B | $68.1M | ||
| Q4 24 | $1.1B | $73.7M | ||
| Q3 24 | $1.3B | $64.6M | ||
| Q2 24 | $1.3B | $73.8M | ||
| Q1 24 | $1.4B | $152.4M |
总债务EXPDSTZ
| Q4 25 | — | $10.3B | ||
| Q3 25 | — | $10.3B | ||
| Q2 25 | — | $11.2B | ||
| Q1 25 | — | $10.7B | ||
| Q4 24 | — | $10.7B | ||
| Q3 24 | — | $11.1B | ||
| Q2 24 | — | $11.1B | ||
| Q1 24 | — | $11.6B |
股东权益EXPDSTZ
| Q4 25 | $2.4B | $7.7B | ||
| Q3 25 | $2.3B | $7.5B | ||
| Q2 25 | $2.2B | $7.3B | ||
| Q1 25 | $2.3B | $6.9B | ||
| Q4 24 | $2.2B | $7.8B | ||
| Q3 24 | $2.4B | $7.9B | ||
| Q2 24 | $2.2B | $10.3B | ||
| Q1 24 | $2.2B | $9.7B |
总资产EXPDSTZ
| Q4 25 | $4.9B | $21.7B | ||
| Q3 25 | $4.8B | $21.4B | ||
| Q2 25 | $4.8B | $22.3B | ||
| Q1 25 | $4.8B | $21.7B | ||
| Q4 24 | $4.8B | $22.8B | ||
| Q3 24 | $5.2B | $23.1B | ||
| Q2 24 | $4.8B | $26.1B | ||
| Q1 24 | $4.5B | $25.7B |
负债/权益比EXPDSTZ
| Q4 25 | — | 1.33× | ||
| Q3 25 | — | 1.37× | ||
| Q2 25 | — | 1.54× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.08× | ||
| Q1 24 | — | 1.19× |
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 | $616.9M |
| 自由现金流经营现金流 - 资本支出 | $270.3M | $370.9M |
| 自由现金流率自由现金流/营收 | 9.5% | 16.7% |
| 资本支出强度资本支出/营收 | 0.5% | 11.1% |
| 现金转化率经营现金流/净利润 | 1.41× | 1.23× |
| 过去12个月自由现金流最近4个季度 | $953.4M | $1.8B |
8季度趋势，按日历期对齐
经营现金流EXPDSTZ
| Q4 25 | $283.3M | $616.9M | ||
| Q3 25 | $201.4M | $852.1M | ||
| Q2 25 | $179.2M | $637.2M | ||
| Q1 25 | $342.6M | $594.7M | ||
| Q4 24 | $249.7M | $685.2M | ||
| Q3 24 | $90.0M | $1.2B | ||
| Q2 24 | $126.8M | $690.5M | ||
| Q1 24 | $256.9M | $433.2M |
自由现金流EXPDSTZ
| Q4 25 | $270.3M | $370.9M | ||
| Q3 25 | $190.3M | $634.8M | ||
| Q2 25 | $163.3M | $444.4M | ||
| Q1 25 | $329.5M | $312.1M | ||
| Q4 24 | $239.7M | $456.8M | ||
| Q3 24 | $77.7M | $854.0M | ||
| Q2 24 | $118.8M | $315.2M | ||
| Q1 24 | $246.7M | $76.0M |
自由现金流率EXPDSTZ
| Q4 25 | 9.5% | 16.7% | ||
| Q3 25 | 6.6% | 25.6% | ||
| Q2 25 | 6.2% | 17.7% | ||
| Q1 25 | 12.4% | 14.4% | ||
| Q4 24 | 8.1% | 18.5% | ||
| Q3 24 | 2.6% | 29.3% | ||
| Q2 24 | 4.9% | 11.8% | ||
| Q1 24 | 11.2% | 3.6% |
资本支出强度EXPDSTZ
| Q4 25 | 0.5% | 11.1% | ||
| Q3 25 | 0.4% | 8.8% | ||
| Q2 25 | 0.6% | 7.7% | ||
| Q1 25 | 0.5% | 13.1% | ||
| Q4 24 | 0.3% | 9.3% | ||
| Q3 24 | 0.4% | 11.2% | ||
| Q2 24 | 0.3% | 14.1% | ||
| Q1 24 | 0.5% | 16.7% |
现金转化率EXPDSTZ
| Q4 25 | 1.41× | 1.23× | ||
| Q3 25 | 0.91× | 1.83× | ||
| Q2 25 | 0.98× | 1.23× | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.06× | 1.11× | ||
| Q3 24 | 0.39× | — | ||
| Q2 24 | 0.72× | 0.79× | ||
| Q1 24 | 1.52× | 1.10× |
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% |
STZ
| Beer | $2.0B | 90% |
| Constellation Wines And Spirits | $213.1M | 10% |
