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FIRST HORIZON CORP（FHN）与RXO, Inc.（RXO）财务数据对比。点击上方公司名可切换其他公司
RXO, Inc.的季度营收约是FIRST HORIZON CORP的1.7倍（$1.5B vs $888.0M），FIRST HORIZON CORP净利率更高（29.4% vs -3.1%，领先32.5%），FIRST HORIZON CORP同比增速更快（21.8% vs -11.9%），FIRST HORIZON CORP自由现金流更多（$389.0M vs $-9.0M），过去两年RXO, Inc.的营收复合增速更高（26.8% vs 20.0%）
第一地平线公司（前身为第一田纳西银行）是一家成立于1864年的金融服务企业，总部位于美国田纳西州孟菲斯市。该公司通过旗下子公司第一地平线银行开展业务，网点覆盖美国东南部12个州，是该区域第四大区域性银行。
RXO是总部位于美国的头部运输及物流解决方案供应商，核心业务覆盖货运经纪、大件商品最后一公里配送、运输管理服务与全链路供应链优化支持，主要服务北美制造业、零售业及电商领域的客户。
FHN vs RXO — 直观对比
营收规模更大
RXO
是对方的1.7倍
$888.0M
营收增速更快
FHN
高出33.7%
-11.9%
净利率更高
FHN
高出32.5%
-3.1%
自由现金流更多
FHN
多$398.0M
$-9.0M
两年增速更快
RXO
近两年复合增速
20.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $888.0M | $1.5B |
| 净利润 | $261.0M | $-46.0M |
| 毛利率 | — | — |
| 营业利润率 | 38.5% | -2.9% |
| 净利率 | 29.4% | -3.1% |
| 营收同比 | 21.8% | -11.9% |
| 净利润同比 | 57.2% | -84.0% |
| 每股收益（稀释后） | $0.51 | $-0.28 |
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FHNRXO
| Q4 25 | $888.0M | $1.5B | ||
| Q3 25 | $889.0M | $1.4B | ||
| Q2 25 | $830.0M | $1.4B | ||
| Q1 25 | $812.0M | $1.4B | ||
| Q4 24 | $729.0M | $1.7B | ||
| Q3 24 | $827.0M | $1.0B | ||
| Q2 24 | — | $930.0M | ||
| Q1 24 | $819.0M | $913.0M |
净利润FHNRXO
| Q4 25 | $261.0M | $-46.0M | ||
| Q3 25 | $262.0M | $-14.0M | ||
| Q2 25 | $241.0M | $-9.0M | ||
| Q1 25 | $218.0M | $-31.0M | ||
| Q4 24 | $166.0M | $-25.0M | ||
| Q3 24 | $218.0M | $-243.0M | ||
| Q2 24 | — | $-7.0M | ||
| Q1 24 | $192.0M | $-15.0M |
营业利润率FHNRXO
| Q4 25 | 38.5% | -2.9% | ||
| Q3 25 | 38.7% | -0.5% | ||
| Q2 25 | 37.2% | — | ||
| Q1 25 | 35.1% | -2.1% | ||
| Q4 24 | 28.8% | -1.4% | ||
| Q3 24 | 34.0% | -1.9% | ||
| Q2 24 | — | — | ||
| Q1 24 | 31.0% | -1.3% |
净利率FHNRXO
| Q4 25 | 29.4% | -3.1% | ||
| Q3 25 | 29.5% | -1.0% | ||
| Q2 25 | 29.0% | -0.6% | ||
| Q1 25 | 26.8% | -2.2% | ||
| Q4 24 | 22.8% | -1.5% | ||
| Q3 24 | 26.4% | -23.4% | ||
| Q2 24 | — | -0.8% | ||
| Q1 24 | 23.4% | -1.6% |
每股收益（稀释后）FHNRXO
| Q4 25 | $0.51 | $-0.28 | ||
| Q3 25 | $0.50 | $-0.08 | ||
| Q2 25 | $0.45 | $-0.05 | ||
| Q1 25 | $0.41 | $-0.18 | ||
| Q4 24 | $0.29 | $-0.17 | ||
| Q3 24 | $0.40 | $-1.81 | ||
| Q2 24 | — | $-0.06 | ||
| Q1 24 | $0.33 | $-0.13 |
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 | — | $17.0M |
| 总债务越低越好 | — | $387.0M |
| 股东权益账面价值 | $8.8B | $1.5B |
| 总资产 | $83.9B | $3.3B |
| 负债/权益比越低杠杆越低 | — | 0.25× |
8季度趋势，按日历期对齐
现金及短期投资FHNRXO
| Q4 25 | — | $17.0M | ||
| Q3 25 | — | $25.0M | ||
| Q2 25 | — | $18.0M | ||
| Q1 25 | — | $16.0M | ||
| Q4 24 | — | $35.0M | ||
| Q3 24 | — | $55.0M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $7.0M |
总债务FHNRXO
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
股东权益FHNRXO
| Q4 25 | $8.8B | $1.5B | ||
| Q3 25 | $8.9B | $1.6B | ||
| Q2 25 | $9.0B | $1.6B | ||
| Q1 25 | $8.7B | $1.6B | ||
| Q4 24 | $8.8B | $1.6B | ||
| Q3 24 | $9.0B | $1.7B | ||
| Q2 24 | — | $579.0M | ||
| Q1 24 | $8.9B | $582.0M |
总资产FHNRXO
| Q4 25 | $83.9B | $3.3B | ||
| Q3 25 | $83.2B | $3.2B | ||
| Q2 25 | $82.1B | $3.2B | ||
| Q1 25 | $81.5B | $3.3B | ||
| Q4 24 | $82.2B | $3.4B | ||
| Q3 24 | $82.6B | $3.4B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | $81.8B | $1.8B |
负债/权益比FHNRXO
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
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 | $396.0M | $7.0M |
| 自由现金流经营现金流 - 资本支出 | $389.0M | $-9.0M |
| 自由现金流率自由现金流/营收 | 43.8% | -0.6% |
| 资本支出强度资本支出/营收 | 0.8% | 1.1% |
| 现金转化率经营现金流/净利润 | 1.52× | — |
| 过去12个月自由现金流最近4个季度 | $595.0M | $-8.0M |
8季度趋势，按日历期对齐
经营现金流FHNRXO
| Q4 25 | $396.0M | $7.0M | ||
| Q3 25 | $-200.0M | $23.0M | ||
| Q2 25 | $83.0M | $23.0M | ||
| Q1 25 | $349.0M | $-2.0M | ||
| Q4 24 | $191.0M | $-7.0M | ||
| Q3 24 | $389.0M | $-7.0M | ||
| Q2 24 | — | $-5.0M | ||
| Q1 24 | $838.0M | $7.0M |
自由现金流FHNRXO
| Q4 25 | $389.0M | $-9.0M | ||
| Q3 25 | $-208.0M | $9.0M | ||
| Q2 25 | $74.0M | $9.0M | ||
| Q1 25 | $340.0M | $-17.0M | ||
| Q4 24 | $174.0M | $-19.0M | ||
| Q3 24 | $383.0M | $-18.0M | ||
| Q2 24 | — | $-16.0M | ||
| Q1 24 | $828.0M | $-4.0M |
自由现金流率FHNRXO
| Q4 25 | 43.8% | -0.6% | ||
| Q3 25 | -23.4% | 0.6% | ||
| Q2 25 | 8.9% | 0.6% | ||
| Q1 25 | 41.9% | -1.2% | ||
| Q4 24 | 23.9% | -1.1% | ||
| Q3 24 | 46.3% | -1.7% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | 101.1% | -0.4% |
资本支出强度FHNRXO
| Q4 25 | 0.8% | 1.1% | ||
| Q3 25 | 0.9% | 1.0% | ||
| Q2 25 | 1.1% | 1.0% | ||
| Q1 25 | 1.1% | 1.0% | ||
| Q4 24 | 2.3% | 0.7% | ||
| Q3 24 | 0.7% | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | 1.2% | 1.2% |
现金转化率FHNRXO
| Q4 25 | 1.52× | — | ||
| Q3 25 | -0.76× | — | ||
| Q2 25 | 0.34× | — | ||
| Q1 25 | 1.60× | — | ||
| Q4 24 | 1.15× | — | ||
| Q3 24 | 1.78× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 4.36× | — |
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
FHN
| Commercial Consumer And Wealth Segment | $776.0M | 87% |
| Other | $88.0M | 10% |
| Corporate | $24.0M | 3% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
