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FORWARD AIR CORP（FWRD）与Hub Group, Inc.（HUBG）财务数据对比。点击上方公司名可切换其他公司
Hub Group, Inc.的季度营收约是FORWARD AIR CORP的1.5倍（$934.5M vs $631.2M）。Hub Group, Inc.净利率更高（3.1% vs -4.5%，领先7.5%）。FORWARD AIR CORP同比增速更快（-0.3% vs -5.3%）。过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs -2.6%）
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。
Hub Group是北美知名的运输与物流管理企业，1971年由菲利普·耶格尔创立，1996年上市，总部位于伊利诺伊州奥克布鲁克，目前由创始人之孙菲利普·D·耶格尔运营，年营收超50亿美元，为客户提供专业的供应链及物流解决方案。
FWRD vs HUBG — 直观对比
营收规模更大
HUBG
是对方的1.5倍
$631.2M
营收增速更快
FWRD
高出5.1%
-5.3%
净利率更高
HUBG
高出7.5%
-4.5%
两年增速更快
FWRD
近两年复合增速
-2.6%
损益表 — Q4 2025 vs Q3 2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $934.5M |
| 净利润 | $-28.3M | $28.6M |
| 毛利率 | — | — |
| 营业利润率 | -0.5% | 4.2% |
| 净利率 | -4.5% | 3.1% |
| 营收同比 | -0.3% | -5.3% |
| 净利润同比 | 22.2% | 21.0% |
| 每股收益（稀释后） | $-0.90 | $0.47 |
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FWRDHUBG
| Q4 25 | $631.2M | — | ||
| Q3 25 | $631.8M | $934.5M | ||
| Q2 25 | $618.8M | $905.6M | ||
| Q1 25 | $613.3M | $915.2M | ||
| Q4 24 | $632.8M | $973.5M | ||
| Q3 24 | $655.9M | $986.9M | ||
| Q2 24 | $643.7M | $986.5M | ||
| Q1 24 | $541.8M | $999.5M |
净利润FWRDHUBG
| Q4 25 | $-28.3M | — | ||
| Q3 25 | $-16.3M | $28.6M | ||
| Q2 25 | $-12.6M | $25.2M | ||
| Q1 25 | $-50.6M | $26.8M | ||
| Q4 24 | $-36.4M | $24.3M | ||
| Q3 24 | $-73.4M | $23.6M | ||
| Q2 24 | $-645.4M | $29.0M | ||
| Q1 24 | $-61.7M | $27.1M |
营业利润率FWRDHUBG
| Q4 25 | -0.5% | — | ||
| Q3 25 | 2.4% | 4.2% | ||
| Q2 25 | 3.2% | 3.8% | ||
| Q1 25 | 0.8% | 4.1% | ||
| Q4 24 | 12.0% | 3.2% | ||
| Q3 24 | 3.5% | 3.3% | ||
| Q2 24 | -170.2% | 4.0% | ||
| Q1 24 | -12.1% | 3.7% |
净利率FWRDHUBG
| Q4 25 | -4.5% | — | ||
| Q3 25 | -2.6% | 3.1% | ||
| Q2 25 | -2.0% | 2.8% | ||
| Q1 25 | -8.3% | 2.9% | ||
| Q4 24 | -5.8% | 2.5% | ||
| Q3 24 | -11.2% | 2.4% | ||
| Q2 24 | -100.3% | 2.9% | ||
| Q1 24 | -11.4% | 2.7% |
每股收益（稀释后）FWRDHUBG
| Q4 25 | $-0.90 | — | ||
| Q3 25 | $-0.52 | $0.47 | ||
| Q2 25 | $-0.41 | $0.42 | ||
| Q1 25 | $-1.68 | $0.44 | ||
| Q4 24 | $-1.69 | $0.40 | ||
| Q3 24 | $-2.66 | $0.39 | ||
| Q2 24 | $-23.47 | $0.47 | ||
| Q1 24 | $-2.81 | $0.44 |
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 | $106.0M | $119.7M |
| 总债务越低越好 | $1.7B | $255.0M |
| 股东权益账面价值 | $113.3M | $1.7B |
| 总资产 | $2.7B | $2.9B |
| 负债/权益比越低杠杆越低 | 14.89× | 0.15× |
8季度趋势，按日历期对齐
现金及短期投资FWRDHUBG
| Q4 25 | $106.0M | — | ||
| Q3 25 | $140.4M | $119.7M | ||
| Q2 25 | $95.1M | $137.0M | ||
| Q1 25 | $116.3M | $112.7M | ||
| Q4 24 | $104.9M | $98.2M | ||
| Q3 24 | $136.6M | $186.1M | ||
| Q2 24 | $84.9M | $220.2M | ||
| Q1 24 | $152.0M | $195.4M |
总债务FWRDHUBG
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | $255.0M | ||
| Q2 25 | — | $231.9M | ||
| Q1 25 | — | $252.1M | ||
| Q4 24 | — | $264.4M | ||
| Q3 24 | — | $287.1M | ||
| Q2 24 | — | $313.1M | ||
| Q1 24 | $1.7B | $334.8M |
股东权益FWRDHUBG
| Q4 25 | $113.3M | — | ||
| Q3 25 | $139.8M | $1.7B | ||
| Q2 25 | $151.8M | $1.7B | ||
| Q1 25 | $154.6M | $1.6B | ||
| Q4 24 | $201.7M | $1.6B | ||
| Q3 24 | $226.1M | $1.6B | ||
| Q2 24 | $283.8M | $1.6B | ||
| Q1 24 | $926.1M | $1.6B |
总资产FWRDHUBG
| Q4 25 | $2.7B | — | ||
| Q3 25 | $2.8B | $2.9B | ||
| Q2 25 | $2.8B | $2.8B | ||
| Q1 25 | $2.8B | $2.8B | ||
| Q4 24 | $2.8B | $2.9B | ||
| Q3 24 | $3.1B | $2.8B | ||
| Q2 24 | $3.1B | $2.9B | ||
| Q1 24 | $4.0B | $2.9B |
负债/权益比FWRDHUBG
| Q4 25 | 14.89× | — | ||
| Q3 25 | 12.05× | 0.15× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.19× | ||
| Q1 24 | 1.81× | 0.21× |
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 | — | $28.1M |
| 自由现金流经营现金流 - 资本支出 | — | $19.4M |
| 自由现金流率自由现金流/营收 | — | 2.1% |
| 资本支出强度资本支出/营收 | 1.3% | 0.9% |
| 现金转化率经营现金流/净利润 | — | 0.98× |
| 过去12个月自由现金流最近4个季度 | — | $113.4M |
8季度趋势，按日历期对齐
经营现金流FWRDHUBG
| Q4 25 | — | — | ||
| Q3 25 | $52.7M | $28.1M | ||
| Q2 25 | — | $61.5M | ||
| Q1 25 | $27.6M | $70.0M | ||
| Q4 24 | $-23.2M | $604.0K | ||
| Q3 24 | $51.2M | $43.4M | ||
| Q2 24 | $-45.2M | $69.9M | ||
| Q1 24 | $-51.7M | $80.5M |
自由现金流FWRDHUBG
| Q4 25 | — | — | ||
| Q3 25 | $48.6M | $19.4M | ||
| Q2 25 | — | $50.2M | ||
| Q1 25 | $15.7M | $50.8M | ||
| Q4 24 | $-30.5M | $-7.0M | ||
| Q3 24 | $40.7M | $31.4M | ||
| Q2 24 | $-59.6M | $56.2M | ||
| Q1 24 | $-56.7M | $63.0M |
自由现金流率FWRDHUBG
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | 2.1% | ||
| Q2 25 | — | 5.5% | ||
| Q1 25 | 2.6% | 5.6% | ||
| Q4 24 | -4.8% | -0.7% | ||
| Q3 24 | 6.2% | 3.2% | ||
| Q2 24 | -9.3% | 5.7% | ||
| Q1 24 | -10.5% | 6.3% |
资本支出强度FWRDHUBG
| Q4 25 | 1.3% | — | ||
| Q3 25 | 0.7% | 0.9% | ||
| Q2 25 | 0.8% | 1.2% | ||
| Q1 25 | 1.9% | 2.1% | ||
| Q4 24 | 1.1% | 0.8% | ||
| Q3 24 | 1.6% | 1.2% | ||
| Q2 24 | 2.2% | 1.4% | ||
| Q1 24 | 0.9% | 1.8% |
现金转化率FWRDHUBG
| Q4 25 | — | — | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 2.44× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | — | 0.02× | ||
| Q3 24 | — | 1.84× | ||
| Q2 24 | — | 2.41× | ||
| Q1 24 | — | 2.98× |
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
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
HUBG
| Intermodal | $561.5M | 60% |
| Other | $343.6M | 37% |
| Inter Segment | $29.4M | 3% |
