vs
Fabrinet（FN）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
Fabrinet的季度营收约是FORWARD AIR CORP的1.8倍（$1.1B vs $631.2M），Fabrinet净利率更高（9.9% vs -4.5%，领先14.4%），Fabrinet同比增速更快（35.9% vs -0.3%），过去两年Fabrinet的营收复合增速更高（24.4% vs 7.9%）
Fabrinet（股票代码FN）为标普中型股400指数成分股。该指数由标普道琼斯指数公司维护，覆盖400家以美企为主的中等市值企业，若成分企业存在多类流通股，指数的成分股总量有时会超过400只。
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。
FN vs FWRD — 直观对比
营收规模更大
FN
是对方的1.8倍
$631.2M
营收增速更快
FN
高出36.2%
-0.3%
净利率更高
FN
高出14.4%
-4.5%
两年增速更快
FN
近两年复合增速
7.9%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $631.2M |
| 净利润 | $112.6M | $-28.3M |
| 毛利率 | 12.2% | — |
| 营业利润率 | 10.1% | -0.5% |
| 净利率 | 9.9% | -4.5% |
| 营收同比 | 35.9% | -0.3% |
| 净利润同比 | 30.0% | 22.2% |
| 每股收益（稀释后） | $3.11 | $-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FNFWRD
| Q4 25 | $1.1B | $631.2M | ||
| Q3 25 | $978.1M | $631.8M | ||
| Q2 25 | $909.7M | $618.8M | ||
| Q1 25 | $871.8M | $613.3M | ||
| Q4 24 | $833.6M | $632.8M | ||
| Q3 24 | $804.2M | $655.9M | ||
| Q2 24 | $753.3M | $643.7M | ||
| Q1 24 | $731.5M | $541.8M |
净利润FNFWRD
| Q4 25 | $112.6M | $-28.3M | ||
| Q3 25 | $95.9M | $-16.3M | ||
| Q2 25 | $87.2M | $-12.6M | ||
| Q1 25 | $81.3M | $-50.6M | ||
| Q4 24 | $86.6M | $-36.4M | ||
| Q3 24 | $77.4M | $-73.4M | ||
| Q2 24 | $81.1M | $-645.4M | ||
| Q1 24 | $80.9M | $-61.7M |
毛利率FNFWRD
| Q4 25 | 12.2% | — | ||
| Q3 25 | 11.9% | — | ||
| Q2 25 | 12.2% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 12.1% | — | ||
| Q3 24 | 12.3% | — | ||
| Q2 24 | 12.3% | — | ||
| Q1 24 | 12.4% | — |
营业利润率FNFWRD
| Q4 25 | 10.1% | -0.5% | ||
| Q3 25 | 9.6% | 2.4% | ||
| Q2 25 | 9.8% | 3.2% | ||
| Q1 25 | 9.0% | 0.8% | ||
| Q4 24 | 9.5% | 12.0% | ||
| Q3 24 | 9.6% | 3.5% | ||
| Q2 24 | 9.7% | -170.2% | ||
| Q1 24 | 9.7% | -12.1% |
净利率FNFWRD
| Q4 25 | 9.9% | -4.5% | ||
| Q3 25 | 9.8% | -2.6% | ||
| Q2 25 | 9.6% | -2.0% | ||
| Q1 25 | 9.3% | -8.3% | ||
| Q4 24 | 10.4% | -5.8% | ||
| Q3 24 | 9.6% | -11.2% | ||
| Q2 24 | 10.8% | -100.3% | ||
| Q1 24 | 11.1% | -11.4% |
每股收益（稀释后）FNFWRD
| Q4 25 | $3.11 | $-0.90 | ||
| Q3 25 | $2.66 | $-0.52 | ||
| Q2 25 | $2.41 | $-0.41 | ||
| Q1 25 | $2.25 | $-1.68 | ||
| Q4 24 | $2.38 | $-1.69 | ||
| Q3 24 | $2.13 | $-2.66 | ||
| Q2 24 | $2.22 | $-23.47 | ||
| Q1 24 | $2.21 | $-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 | $960.8M | $106.0M |
| 总债务越低越好 | — | $1.7B |
| 股东权益账面价值 | $2.2B | $113.3M |
| 总资产 | $3.3B | $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FNFWRD
| Q4 25 | $960.8M | $106.0M | ||
| Q3 25 | $968.8M | $140.4M | ||
| Q2 25 | $934.2M | $95.1M | ||
| Q1 25 | $950.7M | $116.3M | ||
| Q4 24 | $934.6M | $104.9M | ||
| Q3 24 | $908.9M | $136.6M | ||
| Q2 24 | $858.6M | $84.9M | ||
| Q1 24 | $794.0M | $152.0M |
总债务FNFWRD
| 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FNFWRD
| Q4 25 | $2.2B | $113.3M | ||
| Q3 25 | $2.1B | $139.8M | ||
| Q2 25 | $2.0B | $151.8M | ||
| Q1 25 | $1.9B | $154.6M | ||
| Q4 24 | $1.8B | $201.7M | ||
| Q3 24 | $1.8B | $226.1M | ||
| Q2 24 | $1.7B | $283.8M | ||
| Q1 24 | $1.7B | $926.1M |
总资产FNFWRD
| Q4 25 | $3.3B | $2.7B | ||
| Q3 25 | $3.0B | $2.8B | ||
| Q2 25 | $2.8B | $2.8B | ||
| Q1 25 | $2.6B | $2.8B | ||
| Q4 24 | $2.5B | $2.8B | ||
| Q3 24 | $2.4B | $3.1B | ||
| Q2 24 | $2.3B | $3.1B | ||
| Q1 24 | $2.2B | $4.0B |
负债/权益比FNFWRD
| 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 | $46.3M | — |
| 自由现金流经营现金流 - 资本支出 | $-5.3M | — |
| 自由现金流率自由现金流/营收 | -0.5% | — |
| 资本支出强度资本支出/营收 | 4.6% | 1.3% |
| 现金转化率经营现金流/净利润 | 0.41× | — |
| 过去12个月自由现金流最近4个季度 | $102.3M | — |
8季度趋势，按日历期对齐
经营现金流FNFWRD
| Q4 25 | $46.3M | — | ||
| Q3 25 | $102.6M | $52.7M | ||
| Q2 25 | $55.1M | — | ||
| Q1 25 | $74.2M | $27.6M | ||
| Q4 24 | $115.9M | $-23.2M | ||
| Q3 24 | $83.2M | $51.2M | ||
| Q2 24 | $83.1M | $-45.2M | ||
| Q1 24 | $100.9M | $-51.7M |
自由现金流FNFWRD
| Q4 25 | $-5.3M | — | ||
| Q3 25 | $57.3M | $48.6M | ||
| Q2 25 | $4.7M | — | ||
| Q1 25 | $45.7M | $15.7M | ||
| Q4 24 | $94.0M | $-30.5M | ||
| Q3 24 | $62.9M | $40.7M | ||
| Q2 24 | $70.4M | $-59.6M | ||
| Q1 24 | $87.3M | $-56.7M |
自由现金流率FNFWRD
| Q4 25 | -0.5% | — | ||
| Q3 25 | 5.9% | 7.7% | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 5.2% | 2.6% | ||
| Q4 24 | 11.3% | -4.8% | ||
| Q3 24 | 7.8% | 6.2% | ||
| Q2 24 | 9.3% | -9.3% | ||
| Q1 24 | 11.9% | -10.5% |
资本支出强度FNFWRD
| Q4 25 | 4.6% | 1.3% | ||
| Q3 25 | 4.6% | 0.7% | ||
| Q2 25 | 5.5% | 0.8% | ||
| Q1 25 | 3.3% | 1.9% | ||
| Q4 24 | 2.6% | 1.1% | ||
| Q3 24 | 2.5% | 1.6% | ||
| Q2 24 | 1.7% | 2.2% | ||
| Q1 24 | 1.9% | 0.9% |
现金转化率FNFWRD
| Q4 25 | 0.41× | — | ||
| Q3 25 | 1.07× | — | ||
| Q2 25 | 0.63× | — | ||
| Q1 25 | 0.91× | — | ||
| Q4 24 | 1.34× | — | ||
| Q3 24 | 1.07× | — | ||
| Q2 24 | 1.02× | — | ||
| Q1 24 | 1.25× | — |
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
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
