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eXp World Holdings, Inc.（EXPI）与FORWARD AIR CORP（FWRD）财务数据对比。点击上方公司名可切换其他公司
eXp World Holdings, Inc.的季度营收约是FORWARD AIR CORP的1.9倍（$1.2B vs $631.2M），eXp World Holdings, Inc.净利率更高（-1.1% vs -4.5%，领先3.4%），eXp World Holdings, Inc.同比增速更快（8.5% vs -0.3%），过去两年eXp World Holdings, Inc.的营收复合增速更高（12.4% vs 7.9%）
eXp World Holdings是全球云原生房地产服务提供商，运营eXp Realty经纪网络，依托沉浸式3D虚拟园区支持代理人协作与日常运营，业务覆盖全球20余个国家的住宅及商业地产市场，同时提供按揭贷款、产权保险、从业者职业培训等配套服务。
Forward Air Corp是北美领先的轻资产物流运输服务商，核心业务包括加急零担货运、最后一公里配送、多式联运、仓储及供应链解决方案，服务覆盖美加墨地区，主要服务电商、零售、制造、汽车等行业。
EXPI vs FWRD — 直观对比
营收规模更大
EXPI
是对方的1.9倍
$631.2M
营收增速更快
EXPI
高出8.8%
-0.3%
净利率更高
EXPI
高出3.4%
-4.5%
两年增速更快
EXPI
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $631.2M |
| 净利润 | $-12.9M | $-28.3M |
| 毛利率 | — | — |
| 营业利润率 | -1.1% | -0.5% |
| 净利率 | -1.1% | -4.5% |
| 营收同比 | 8.5% | -0.3% |
| 净利润同比 | -35.7% | 22.2% |
| 每股收益（稀释后） | $-0.08 | $-0.90 |
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EXPIFWRD
| Q4 25 | $1.2B | $631.2M | ||
| Q3 25 | $1.3B | $631.8M | ||
| Q2 25 | $1.3B | $618.8M | ||
| Q1 25 | $954.9M | $613.3M | ||
| Q4 24 | $1.1B | $632.8M | ||
| Q3 24 | $1.2B | $655.9M | ||
| Q2 24 | $1.3B | $643.7M | ||
| Q1 24 | $943.1M | $541.8M |
净利润EXPIFWRD
| Q4 25 | $-12.9M | $-28.3M | ||
| Q3 25 | $3.5M | $-16.3M | ||
| Q2 25 | $-2.3M | $-12.6M | ||
| Q1 25 | $-11.0M | $-50.6M | ||
| Q4 24 | $-9.5M | $-36.4M | ||
| Q3 24 | $-8.5M | $-73.4M | ||
| Q2 24 | $12.4M | $-645.4M | ||
| Q1 24 | $-15.6M | $-61.7M |
毛利率EXPIFWRD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 99.9% | — | ||
| Q2 24 | 99.9% | — | ||
| Q1 24 | — | — |
营业利润率EXPIFWRD
| Q4 25 | -1.1% | -0.5% | ||
| Q3 25 | 0.3% | 2.4% | ||
| Q2 25 | -0.2% | 3.2% | ||
| Q1 25 | -1.1% | 0.8% | ||
| Q4 24 | -1.0% | 12.0% | ||
| Q3 24 | -0.7% | 3.5% | ||
| Q2 24 | 1.4% | -170.2% | ||
| Q1 24 | -1.9% | -12.1% |
净利率EXPIFWRD
| Q4 25 | -1.1% | -4.5% | ||
| Q3 25 | 0.3% | -2.6% | ||
| Q2 25 | -0.2% | -2.0% | ||
| Q1 25 | -1.2% | -8.3% | ||
| Q4 24 | -0.9% | -5.8% | ||
| Q3 24 | -0.7% | -11.2% | ||
| Q2 24 | 1.0% | -100.3% | ||
| Q1 24 | -1.7% | -11.4% |
每股收益（稀释后）EXPIFWRD
| Q4 25 | $-0.08 | $-0.90 | ||
| Q3 25 | $0.02 | $-0.52 | ||
| Q2 25 | $-0.01 | $-0.41 | ||
| Q1 25 | $-0.07 | $-1.68 | ||
| Q4 24 | $-0.06 | $-1.69 | ||
| Q3 24 | $-0.06 | $-2.66 | ||
| Q2 24 | $0.08 | $-23.47 | ||
| Q1 24 | $-0.10 | $-2.81 |
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 | $124.2M | $106.0M |
| 总债务越低越好 | — | $1.7B |
| 股东权益账面价值 | $242.8M | $113.3M |
| 总资产 | $442.5M | $2.7B |
| 负债/权益比越低杠杆越低 | — | 14.89× |
8季度趋势，按日历期对齐
现金及短期投资EXPIFWRD
| Q4 25 | $124.2M | $106.0M | ||
| Q3 25 | $112.8M | $140.4M | ||
| Q2 25 | $94.6M | $95.1M | ||
| Q1 25 | $115.7M | $116.3M | ||
| Q4 24 | $113.6M | $104.9M | ||
| Q3 24 | $130.4M | $136.6M | ||
| Q2 24 | $108.4M | $84.9M | ||
| Q1 24 | $109.2M | $152.0M |
总债务EXPIFWRD
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.7B |
股东权益EXPIFWRD
| Q4 25 | $242.8M | $113.3M | ||
| Q3 25 | $235.3M | $139.8M | ||
| Q2 25 | $218.4M | $151.8M | ||
| Q1 25 | $212.0M | $154.6M | ||
| Q4 24 | $204.9M | $201.7M | ||
| Q3 24 | $211.1M | $226.1M | ||
| Q2 24 | $220.3M | $283.8M | ||
| Q1 24 | $222.4M | $926.1M |
总资产EXPIFWRD
| Q4 25 | $442.5M | $2.7B | ||
| Q3 25 | $458.7M | $2.8B | ||
| Q2 25 | $481.2M | $2.8B | ||
| Q1 25 | $435.8M | $2.8B | ||
| Q4 24 | $390.7M | $2.8B | ||
| Q3 24 | $432.6M | $3.1B | ||
| Q2 24 | $457.4M | $3.1B | ||
| Q1 24 | $426.7M | $4.0B |
负债/权益比EXPIFWRD
| Q4 25 | — | 14.89× | ||
| Q3 25 | — | 12.05× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.81× |
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 | $13.8M | — |
| 自由现金流经营现金流 - 资本支出 | $11.9M | — |
| 自由现金流率自由现金流/营收 | 1.0% | — |
| 资本支出强度资本支出/营收 | 0.2% | 1.3% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $109.0M | — |
8季度趋势，按日历期对齐
经营现金流EXPIFWRD
| Q4 25 | $13.8M | — | ||
| Q3 25 | $28.9M | $52.7M | ||
| Q2 25 | $36.1M | — | ||
| Q1 25 | $39.8M | $27.6M | ||
| Q4 24 | $13.7M | $-23.2M | ||
| Q3 24 | $46.0M | $51.2M | ||
| Q2 24 | $71.1M | $-45.2M | ||
| Q1 24 | $60.7M | $-51.7M |
自由现金流EXPIFWRD
| Q4 25 | $11.9M | — | ||
| Q3 25 | $26.6M | $48.6M | ||
| Q2 25 | $33.3M | — | ||
| Q1 25 | $37.3M | $15.7M | ||
| Q4 24 | $11.6M | $-30.5M | ||
| Q3 24 | $44.4M | $40.7M | ||
| Q2 24 | $69.7M | $-59.6M | ||
| Q1 24 | $59.3M | $-56.7M |
自由现金流率EXPIFWRD
| Q4 25 | 1.0% | — | ||
| Q3 25 | 2.0% | 7.7% | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 3.9% | 2.6% | ||
| Q4 24 | 1.1% | -4.8% | ||
| Q3 24 | 3.6% | 6.2% | ||
| Q2 24 | 5.4% | -9.3% | ||
| Q1 24 | 6.3% | -10.5% |
资本支出强度EXPIFWRD
| Q4 25 | 0.2% | 1.3% | ||
| Q3 25 | 0.2% | 0.7% | ||
| Q2 25 | 0.2% | 0.8% | ||
| Q1 25 | 0.3% | 1.9% | ||
| Q4 24 | 0.2% | 1.1% | ||
| Q3 24 | 0.1% | 1.6% | ||
| Q2 24 | 0.1% | 2.2% | ||
| Q1 24 | 0.1% | 0.9% |
现金转化率EXPIFWRD
| Q4 25 | — | — | ||
| Q3 25 | 8.26× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.75× | — | ||
| Q1 24 | — | — |
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
EXPI
| North American Realty | $1.1B | 96% |
| International Realty | $42.2M | 4% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
