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FORWARD AIR CORP（FWRD）与Knife River Corp（KNF）财务数据对比。点击上方公司名可切换其他公司
Knife River Corp的季度营收约是FORWARD AIR CORP的1.2倍（$755.1M vs $631.2M），Knife River Corp净利率更高（4.2% vs -4.5%，领先8.7%），Knife River Corp同比增速更快（14.9% vs -0.3%），过去两年Knife River Corp的营收复合增速更高（51.4% vs 7.9%）
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。
哥伦比亚河刀具工具公司（CRKT）是1994年成立的美国刀具企业，总部位于美国俄勒冈州图拉丁，主营各类刀具相关产品，目前由罗德·布雷默担任总裁兼销售主管，佩吉·布雷默担任财务主管。
FWRD vs KNF — 直观对比
营收规模更大
KNF
是对方的1.2倍
$631.2M
营收增速更快
KNF
高出15.1%
-0.3%
净利率更高
KNF
高出8.7%
-4.5%
两年增速更快
KNF
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $755.1M |
| 净利润 | $-28.3M | $32.0M |
| 毛利率 | — | 19.2% |
| 营业利润率 | -0.5% | 8.6% |
| 净利率 | -4.5% | 4.2% |
| 营收同比 | -0.3% | 14.9% |
| 净利润同比 | 22.2% | 37.6% |
| 每股收益（稀释后） | $-0.90 | $0.56 |
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FWRDKNF
| Q4 25 | $631.2M | $755.1M | ||
| Q3 25 | $631.8M | $1.2B | ||
| Q2 25 | $618.8M | $833.8M | ||
| Q1 25 | $613.3M | $353.5M | ||
| Q4 24 | $632.8M | $657.2M | ||
| Q3 24 | $655.9M | $1.1B | ||
| Q2 24 | $643.7M | $806.9M | ||
| Q1 24 | $541.8M | $329.6M |
净利润FWRDKNF
| Q4 25 | $-28.3M | $32.0M | ||
| Q3 25 | $-16.3M | $143.2M | ||
| Q2 25 | $-12.6M | $50.6M | ||
| Q1 25 | $-50.6M | $-68.7M | ||
| Q4 24 | $-36.4M | $23.3M | ||
| Q3 24 | $-73.4M | $148.1M | ||
| Q2 24 | $-645.4M | $77.9M | ||
| Q1 24 | $-61.7M | $-47.6M |
毛利率FWRDKNF
| Q4 25 | — | 19.2% | ||
| Q3 25 | — | 23.6% | ||
| Q2 25 | — | 18.9% | ||
| Q1 25 | — | -2.7% | ||
| Q4 24 | — | 17.4% | ||
| Q3 24 | — | 24.7% | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | 2.0% |
营业利润率FWRDKNF
| Q4 25 | -0.5% | 8.6% | ||
| Q3 25 | 2.4% | 17.9% | ||
| Q2 25 | 3.2% | 10.6% | ||
| Q1 25 | 0.8% | -23.4% | ||
| Q4 24 | 12.0% | 6.7% | ||
| Q3 24 | 3.5% | 18.9% | ||
| Q2 24 | -170.2% | 14.5% | ||
| Q1 24 | -12.1% | -16.3% |
净利率FWRDKNF
| Q4 25 | -4.5% | 4.2% | ||
| Q3 25 | -2.6% | 11.9% | ||
| Q2 25 | -2.0% | 6.1% | ||
| Q1 25 | -8.3% | -19.4% | ||
| Q4 24 | -5.8% | 3.5% | ||
| Q3 24 | -11.2% | 13.4% | ||
| Q2 24 | -100.3% | 9.7% | ||
| Q1 24 | -11.4% | -14.5% |
每股收益（稀释后）FWRDKNF
| Q4 25 | $-0.90 | $0.56 | ||
| Q3 25 | $-0.52 | $2.52 | ||
| Q2 25 | $-0.41 | $0.89 | ||
| Q1 25 | $-1.68 | $-1.21 | ||
| Q4 24 | $-1.69 | $0.42 | ||
| Q3 24 | $-2.66 | $2.60 | ||
| Q2 24 | $-23.47 | $1.37 | ||
| Q1 24 | $-2.81 | $-0.84 |
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 | $73.8M |
| 总债务越低越好 | $1.7B | $1.2B |
| 股东权益账面价值 | $113.3M | $1.6B |
| 总资产 | $2.7B | $3.7B |
| 负债/权益比越低杠杆越低 | 14.89× | 0.71× |
8季度趋势，按日历期对齐
现金及短期投资FWRDKNF
| Q4 25 | $106.0M | $73.8M | ||
| Q3 25 | $140.4M | $30.7M | ||
| Q2 25 | $95.1M | $26.6M | ||
| Q1 25 | $116.3M | $86.1M | ||
| Q4 24 | $104.9M | $236.8M | ||
| Q3 24 | $136.6M | $220.4M | ||
| Q2 24 | $84.9M | $15.5M | ||
| Q1 24 | $152.0M | $128.4M |
总债务FWRDKNF
| Q4 25 | $1.7B | $1.2B | ||
| Q3 25 | $1.7B | $1.2B | ||
| Q2 25 | — | $1.4B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $677.4M | ||
| Q3 24 | — | $678.5M | ||
| Q2 24 | — | $679.5M | ||
| Q1 24 | $1.7B | $680.6M |
股东权益FWRDKNF
| Q4 25 | $113.3M | $1.6B | ||
| Q3 25 | $139.8M | $1.6B | ||
| Q2 25 | $151.8M | $1.5B | ||
| Q1 25 | $154.6M | $1.4B | ||
| Q4 24 | $201.7M | $1.5B | ||
| Q3 24 | $226.1M | $1.4B | ||
| Q2 24 | $283.8M | $1.3B | ||
| Q1 24 | $926.1M | $1.2B |
总资产FWRDKNF
| Q4 25 | $2.7B | $3.7B | ||
| Q3 25 | $2.8B | $3.7B | ||
| Q2 25 | $2.8B | $3.6B | ||
| Q1 25 | $2.8B | $3.3B | ||
| Q4 24 | $2.8B | $2.9B | ||
| Q3 24 | $3.1B | $2.9B | ||
| Q2 24 | $3.1B | $2.7B | ||
| Q1 24 | $4.0B | $2.5B |
负债/权益比FWRDKNF
| Q4 25 | 14.89× | 0.71× | ||
| Q3 25 | 12.05× | 0.74× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | 1.81× | 0.56× |
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 | — | $195.9M |
| 自由现金流经营现金流 - 资本支出 | — | $138.2M |
| 自由现金流率自由现金流/营收 | — | 18.3% |
| 资本支出强度资本支出/营收 | 1.3% | 7.6% |
| 现金转化率经营现金流/净利润 | — | 6.12× |
| 过去12个月自由现金流最近4个季度 | — | $-69.6M |
8季度趋势，按日历期对齐
经营现金流FWRDKNF
| Q4 25 | — | $195.9M | ||
| Q3 25 | $52.7M | $250.4M | ||
| Q2 25 | — | $-42.6M | ||
| Q1 25 | $27.6M | $-125.3M | ||
| Q4 24 | $-23.2M | $172.4M | ||
| Q3 24 | $51.2M | $239.7M | ||
| Q2 24 | $-45.2M | $-46.6M | ||
| Q1 24 | $-51.7M | $-43.2M |
自由现金流FWRDKNF
| Q4 25 | — | $138.2M | ||
| Q3 25 | $48.6M | $188.7M | ||
| Q2 25 | — | $-196.2M | ||
| Q1 25 | $15.7M | $-200.2M | ||
| Q4 24 | $-30.5M | $127.2M | ||
| Q3 24 | $40.7M | $216.1M | ||
| Q2 24 | $-59.6M | $-106.5M | ||
| Q1 24 | $-56.7M | $-86.9M |
自由现金流率FWRDKNF
| Q4 25 | — | 18.3% | ||
| Q3 25 | 7.7% | 15.7% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | 2.6% | -56.6% | ||
| Q4 24 | -4.8% | 19.3% | ||
| Q3 24 | 6.2% | 19.6% | ||
| Q2 24 | -9.3% | -13.2% | ||
| Q1 24 | -10.5% | -26.4% |
资本支出强度FWRDKNF
| Q4 25 | 1.3% | 7.6% | ||
| Q3 25 | 0.7% | 5.1% | ||
| Q2 25 | 0.8% | 18.4% | ||
| Q1 25 | 1.9% | 21.2% | ||
| Q4 24 | 1.1% | 6.9% | ||
| Q3 24 | 1.6% | 2.1% | ||
| Q2 24 | 2.2% | 7.4% | ||
| Q1 24 | 0.9% | 13.3% |
现金转化率FWRDKNF
| Q4 25 | — | 6.12× | ||
| Q3 25 | — | 1.75× | ||
| Q2 25 | — | -0.84× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 7.41× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | -0.60× | ||
| Q1 24 | — | — |
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% |
KNF
| Services | $347.2M | 46% |
| Ready Mix Concrete | $88.4M | 12% |
| Contracting Services Public Sector | $80.2M | 11% |
| Aggregates | $73.9M | 10% |
| Energy Services Segment | $56.2M | 7% |
| Liquid Asphalt | $49.1M | 7% |
| Other | $43.2M | 6% |
| Asphalt | $22.7M | 3% |
