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联邦快递（FDX）与高盛（GS）财务数据对比。点击上方公司名可切换其他公司
联邦快递的季度营收约是高盛的1.7倍（$23.5B vs $13.5B），高盛净利率更高（34.3% vs 4.1%，领先30.2%），联邦快递自由现金流更多（$1.2B vs $-16.8B）
联邦快递（FedEx）是总部位于美国田纳西州孟菲斯的跨国集团控股企业，主营业务覆盖运输、电子商务及商业服务领域。其品牌名FedEx源自原航空业务板块Federal Express的音节缩写，该原名自1973年启用，1994年集团正式统一使用FedEx作为品牌名称。
高盛集团是美国跨国投资银行及金融服务提供商，创立于1869年，总部位于纽约市曼哈顿下城，在全球多个国际金融中心设有区域总部。按营收计算，高盛是全球规模最大的投资银行之一，位列美国《财富》500强总营收榜单第55位。
FDX vs GS — 直观对比
营收规模更大
FDX
是对方的1.7倍
$13.5B
净利率更高
GS
高出30.2%
4.1%
自由现金流更多
FDX
多$18.0B
$-16.8B
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $23.5B | $13.5B |
| 净利润 | $956.0M | $4.6B |
| 毛利率 | — | — |
| 营业利润率 | 5.9% | 43.5% |
| 净利率 | 4.1% | 34.3% |
| 营收同比 | 6.8% | — |
| 净利润同比 | 29.0% | — |
| 每股收益（稀释后） | $4.04 | $14.04 |
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FDXGS
| Q4 25 | $23.5B | $13.5B | ||
| Q3 25 | $22.2B | $15.2B | ||
| Q2 25 | $22.2B | $14.6B | ||
| Q1 25 | $22.2B | $15.1B | ||
| Q4 24 | $22.0B | — | ||
| Q3 24 | $21.6B | $12.7B | ||
| Q2 24 | $22.1B | $12.7B | ||
| Q1 24 | $21.7B | $14.2B |
净利润FDXGS
| Q4 25 | $956.0M | $4.6B | ||
| Q3 25 | $824.0M | $4.1B | ||
| Q2 25 | $1.6B | $3.7B | ||
| Q1 25 | $909.0M | $4.7B | ||
| Q4 24 | $741.0M | — | ||
| Q3 24 | $794.0M | $3.0B | ||
| Q2 24 | $1.5B | $3.0B | ||
| Q1 24 | $879.0M | $4.1B |
营业利润率FDXGS
| Q4 25 | 5.9% | 43.5% | ||
| Q3 25 | 5.3% | 35.5% | ||
| Q2 25 | 8.1% | 34.0% | ||
| Q1 25 | 5.8% | 37.5% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 5.0% | 31.4% | ||
| Q2 24 | 7.0% | 30.8% | ||
| Q1 24 | 5.7% | 36.8% |
净利率FDXGS
| Q4 25 | 4.1% | 34.3% | ||
| Q3 25 | 3.7% | 27.0% | ||
| Q2 25 | 7.4% | 25.5% | ||
| Q1 25 | 4.1% | 31.5% | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 3.7% | 23.5% | ||
| Q2 24 | 6.7% | 23.9% | ||
| Q1 24 | 4.0% | 29.1% |
每股收益（稀释后）FDXGS
| Q4 25 | $4.04 | $14.04 | ||
| Q3 25 | $3.46 | $12.25 | ||
| Q2 25 | $6.81 | $10.91 | ||
| Q1 25 | $3.76 | $14.12 | ||
| Q4 24 | $3.03 | — | ||
| Q3 24 | $3.21 | $8.40 | ||
| Q2 24 | $5.92 | $8.62 | ||
| Q1 24 | $3.51 | $11.58 |
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 | $6.6B | $164.3B |
| 总债务越低越好 | $20.3B | — |
| 股东权益账面价值 | $28.1B | $125.0B |
| 总资产 | $89.2B | $1809.3B |
| 负债/权益比越低杠杆越低 | 0.72× | — |
8季度趋势，按日历期对齐
现金及短期投资FDXGS
| Q4 25 | $6.6B | $164.3B | ||
| Q3 25 | $6.2B | $169.6B | ||
| Q2 25 | $5.5B | $153.0B | ||
| Q1 25 | $5.1B | $167.4B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.9B | $154.7B | ||
| Q2 24 | $6.5B | $206.3B | ||
| Q1 24 | $5.6B | $209.4B |
总债务FDXGS
| Q4 25 | $20.3B | — | ||
| Q3 25 | $20.3B | — | ||
| Q2 25 | $19.2B | — | ||
| Q1 25 | $19.5B | — | ||
| Q4 24 | $19.4B | — | ||
| Q3 24 | $19.7B | — | ||
| Q2 24 | $20.1B | — | ||
| Q1 24 | $20.1B | — |
股东权益FDXGS
| Q4 25 | $28.1B | $125.0B | ||
| Q3 25 | $27.8B | $124.4B | ||
| Q2 25 | $28.1B | $124.1B | ||
| Q1 25 | $26.7B | $124.3B | ||
| Q4 24 | $26.5B | — | ||
| Q3 24 | $27.2B | $121.2B | ||
| Q2 24 | $27.6B | $119.5B | ||
| Q1 24 | $26.4B | $118.5B |
总资产FDXGS
| Q4 25 | $89.2B | $1809.3B | ||
| Q3 25 | $88.4B | $1808.0B | ||
| Q2 25 | $87.6B | $1785.0B | ||
| Q1 25 | $85.0B | $1766.2B | ||
| Q4 24 | $85.5B | — | ||
| Q3 24 | $86.7B | $1728.1B | ||
| Q2 24 | $87.0B | $1653.3B | ||
| Q1 24 | $86.1B | $1698.4B |
负债/权益比FDXGS
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.68× | — | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | 0.73× | — | ||
| Q3 24 | 0.72× | — | ||
| Q2 24 | 0.73× | — | ||
| Q1 24 | 0.76× | — |
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 | $2.0B | $-16.3B |
| 自由现金流经营现金流 - 资本支出 | $1.2B | $-16.8B |
| 自由现金流率自由现金流/营收 | 5.1% | -124.9% |
| 资本支出强度资本支出/营收 | 3.2% | 3.9% |
| 现金转化率经营现金流/净利润 | 2.04× | -3.53× |
| 过去12个月自由现金流最近4个季度 | $4.3B | $-47.2B |
8季度趋势，按日历期对齐
经营现金流FDXGS
| Q4 25 | $2.0B | $-16.3B | ||
| Q3 25 | $1.7B | $2.7B | ||
| Q2 25 | $2.5B | $5.7B | ||
| Q1 25 | $2.0B | $-37.2B | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $2.7B | — | ||
| Q1 24 | $1.6B | $-28.0B |
自由现金流FDXGS
| Q4 25 | $1.2B | $-16.8B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $1.0B | $5.2B | ||
| Q1 25 | $1.0B | $-37.7B | ||
| Q4 24 | $500.0M | — | ||
| Q3 24 | $420.0M | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $231.0M | $-28.5B |
自由现金流率FDXGS
| Q4 25 | 5.1% | -124.9% | ||
| Q3 25 | 4.9% | 14.0% | ||
| Q2 25 | 4.7% | 35.6% | ||
| Q1 25 | 4.6% | -250.5% | ||
| Q4 24 | 2.3% | — | ||
| Q3 24 | 1.9% | — | ||
| Q2 24 | 6.8% | — | ||
| Q1 24 | 1.1% | -200.8% |
资本支出强度FDXGS
| Q4 25 | 3.2% | 3.9% | ||
| Q3 25 | 2.8% | 3.7% | ||
| Q2 25 | 6.6% | 3.3% | ||
| Q1 25 | 4.5% | 3.3% | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 5.4% | — | ||
| Q1 24 | 6.3% | 3.5% |
现金转化率FDXGS
| Q4 25 | 2.04× | -3.53× | ||
| Q3 25 | 2.08× | 0.65× | ||
| Q2 25 | 1.53× | 1.52× | ||
| Q1 25 | 2.21× | -7.86× | ||
| Q4 24 | 1.78× | — | ||
| Q3 24 | 1.49× | — | ||
| Q2 24 | 1.83× | — | ||
| Q1 24 | 1.83× | -6.79× |
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
FDX
| United States Ground | $9.2B | 39% |
| United States Priority | $2.8B | 12% |
| Other | $2.2B | 9% |
| Fedex Freight Segment | $2.1B | 9% |
| International Economy | $1.5B | 6% |
| Freight Revenue | $1.5B | 6% |
| United States Deferred | $1.4B | 6% |
| International Domestic | $1.3B | 5% |
| International Economy Freight | $582.0M | 2% |
| United States Freight | $304.0M | 1% |
| Other International Revenue | $240.0M | 1% |
GS
| Global Banking And Markets | $10.5B | 78% |
| Other | $2.9B | 22% |
