vs
FMC CORP（FMC）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
FMC CORP的季度营收约是FORWARD AIR CORP的1.2倍（$759.0M vs $631.2M），FORWARD AIR CORP净利率更高（-4.5% vs -37.0%，领先32.6%），FORWARD AIR CORP同比增速更快（-0.3% vs -4.0%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs -14.5%）
FMC公司是总部位于美国宾夕法尼亚州费城的化工制造企业，1883年创立之初以生产杀虫剂为主，后续逐步拓展业务至其他领域。二战期间曾为美国陆军部设计生产两栖履带登陆车，目前在全球拥有7000名员工，业务布局广泛。
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。
FMC vs FWRD — 直观对比
营收规模更大
FMC
是对方的1.2倍
$631.2M
营收增速更快
FWRD
高出3.8%
-4.0%
净利率更高
FWRD
高出32.6%
-37.0%
两年增速更快
FWRD
近两年复合增速
-14.5%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $759.0M | $631.2M |
| 净利润 | $-281.2M | $-28.3M |
| 毛利率 | — | — |
| 营业利润率 | -10.6% | -0.5% |
| 净利率 | -37.0% | -4.5% |
| 营收同比 | -4.0% | -0.3% |
| 净利润同比 | — | 22.2% |
| 每股收益（稀释后） | $-2.25 | $-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FMCFWRD
| Q1 26 | $759.0M | — | ||
| Q4 25 | $1.1B | $631.2M | ||
| Q3 25 | $542.2M | $631.8M | ||
| Q2 25 | $1.1B | $618.8M | ||
| Q1 25 | $791.4M | $613.3M | ||
| Q4 24 | $1.2B | $632.8M | ||
| Q3 24 | $1.1B | $655.9M | ||
| Q2 24 | $1.0B | $643.7M |
净利润FMCFWRD
| Q1 26 | $-281.2M | — | ||
| Q4 25 | $-1.7B | $-28.3M | ||
| Q3 25 | $-569.3M | $-16.3M | ||
| Q2 25 | $66.7M | $-12.6M | ||
| Q1 25 | $-15.5M | $-50.6M | ||
| Q4 24 | $-16.3M | $-36.4M | ||
| Q3 24 | $65.0M | $-73.4M | ||
| Q2 24 | $295.1M | $-645.4M |
毛利率FMCFWRD
| Q1 26 | — | — | ||
| Q4 25 | 39.8% | — | ||
| Q3 25 | 23.8% | — | ||
| Q2 25 | 38.7% | — | ||
| Q1 25 | 40.0% | — | ||
| Q4 24 | 42.9% | — | ||
| Q3 24 | 36.3% | — | ||
| Q2 24 | 38.3% | — |
营业利润率FMCFWRD
| Q1 26 | -10.6% | — | ||
| Q4 25 | -130.8% | -0.5% | ||
| Q3 25 | -73.1% | 2.4% | ||
| Q2 25 | 12.0% | 3.2% | ||
| Q1 25 | 7.4% | 0.8% | ||
| Q4 24 | 19.2% | 12.0% | ||
| Q3 24 | 12.7% | 3.5% | ||
| Q2 24 | 6.0% | -170.2% |
净利率FMCFWRD
| Q1 26 | -37.0% | — | ||
| Q4 25 | -158.8% | -4.5% | ||
| Q3 25 | -105.0% | -2.6% | ||
| Q2 25 | 6.3% | -2.0% | ||
| Q1 25 | -2.0% | -8.3% | ||
| Q4 24 | -1.3% | -5.8% | ||
| Q3 24 | 6.1% | -11.2% | ||
| Q2 24 | 28.4% | -100.3% |
每股收益（稀释后）FMCFWRD
| Q1 26 | $-2.25 | — | ||
| Q4 25 | $-13.77 | $-0.90 | ||
| Q3 25 | $-4.52 | $-0.52 | ||
| Q2 25 | $0.53 | $-0.41 | ||
| Q1 25 | $-0.12 | $-1.68 | ||
| Q4 24 | $-0.13 | $-1.69 | ||
| Q3 24 | $0.52 | $-2.66 | ||
| Q2 24 | $2.35 | $-23.47 |
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 | $390.9M | $106.0M |
| 总债务越低越好 | $2.8B | $1.7B |
| 股东权益账面价值 | $1.8B | $113.3M |
| 总资产 | $9.4B | $2.7B |
| 负债/权益比越低杠杆越低 | 1.50× | 14.89× |
8季度趋势，按日历期对齐
现金及短期投资FMCFWRD
| Q1 26 | $390.9M | — | ||
| Q4 25 | $584.5M | $106.0M | ||
| Q3 25 | $497.7M | $140.4M | ||
| Q2 25 | $438.2M | $95.1M | ||
| Q1 25 | $315.3M | $116.3M | ||
| Q4 24 | $357.3M | $104.9M | ||
| Q3 24 | $416.7M | $136.6M | ||
| Q2 24 | $471.5M | $84.9M |
总债务FMCFWRD
| Q1 26 | $2.8B | — | ||
| Q4 25 | $3.4B | $1.7B | ||
| Q3 25 | $3.4B | $1.7B | ||
| Q2 25 | $3.4B | — | ||
| Q1 25 | $3.1B | — | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — |
股东权益FMCFWRD
| Q1 26 | $1.8B | — | ||
| Q4 25 | $2.1B | $113.3M | ||
| Q3 25 | $3.8B | $139.8M | ||
| Q2 25 | $4.4B | $151.8M | ||
| Q1 25 | $4.4B | $154.6M | ||
| Q4 24 | $4.5B | $201.7M | ||
| Q3 24 | $4.6B | $226.1M | ||
| Q2 24 | $4.6B | $283.8M |
总资产FMCFWRD
| Q1 26 | $9.4B | — | ||
| Q4 25 | $9.7B | $2.7B | ||
| Q3 25 | $12.1B | $2.8B | ||
| Q2 25 | $12.3B | $2.8B | ||
| Q1 25 | $11.8B | $2.8B | ||
| Q4 24 | $11.7B | $2.8B | ||
| Q3 24 | $12.2B | $3.1B | ||
| Q2 24 | $12.1B | $3.1B |
负债/权益比FMCFWRD
| Q1 26 | 1.50× | — | ||
| Q4 25 | 1.62× | 14.89× | ||
| Q3 25 | 0.89× | 12.05× | ||
| Q2 25 | 0.76× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 0.69× | — | ||
| Q3 24 | 0.68× | — | ||
| Q2 24 | 0.68× | — |
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 | — | — |
| 自由现金流经营现金流 - 资本支出 | $-628.1M | — |
| 自由现金流率自由现金流/营收 | -82.8% | — |
| 资本支出强度资本支出/营收 | 2.2% | 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 | $-154.0M | — |
8季度趋势，按日历期对齐
经营现金流FMCFWRD
| Q1 26 | — | — | ||
| Q4 25 | $657.1M | — | ||
| Q3 25 | $-184.2M | $52.7M | ||
| Q2 25 | $65.9M | — | ||
| Q1 25 | $-545.0M | $27.6M | ||
| Q4 24 | $427.9M | $-23.2M | ||
| Q3 24 | $159.5M | $51.2M | ||
| Q2 24 | $292.2M | $-45.2M |
自由现金流FMCFWRD
| Q1 26 | $-628.1M | — | ||
| Q4 25 | $631.1M | — | ||
| Q3 25 | $-207.9M | $48.6M | ||
| Q2 25 | $50.9M | — | ||
| Q1 25 | $-576.6M | $15.7M | ||
| Q4 24 | $406.3M | $-30.5M | ||
| Q3 24 | $143.8M | $40.7M | ||
| Q2 24 | $282.3M | $-59.6M |
自由现金流率FMCFWRD
| Q1 26 | -82.8% | — | ||
| Q4 25 | 58.3% | — | ||
| Q3 25 | -38.3% | 7.7% | ||
| Q2 25 | 4.8% | — | ||
| Q1 25 | -72.9% | 2.6% | ||
| Q4 24 | 33.2% | -4.8% | ||
| Q3 24 | 13.5% | 6.2% | ||
| Q2 24 | 27.2% | -9.3% |
资本支出强度FMCFWRD
| Q1 26 | 2.2% | — | ||
| Q4 25 | 2.4% | 1.3% | ||
| Q3 25 | 4.4% | 0.7% | ||
| Q2 25 | 1.4% | 0.8% | ||
| Q1 25 | 4.0% | 1.9% | ||
| Q4 24 | 1.8% | 1.1% | ||
| Q3 24 | 1.5% | 1.6% | ||
| Q2 24 | 1.0% | 2.2% |
现金转化率FMCFWRD
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.99× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.45× | — | ||
| Q2 24 | 0.99× | — |
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
FMC
| EMEA | $307.0M | 40% |
| North America | $198.0M | 26% |
| Latin America | $177.0M | 23% |
| Asia (excluding 2026 India) 1 | $81.0M | 11% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
