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FORWARD AIR CORP（FWRD）与LANDS' END, INC.（LE）财务数据对比。点击上方公司名可切换其他公司
FORWARD AIR CORP的季度营收约是LANDS' END, INC.的2.0倍（$631.2M vs $317.5M），LANDS' END, INC.净利率更高（1.6% vs -4.5%，领先6.1%），LANDS' END, INC.同比增速更快（0.1% vs -0.3%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs -0.9%）
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。
Lands' End是1963年诞生于美国芝加哥的服饰零售品牌，最初以邮购游艇用品起家，目前业务拓展至服饰、箱包与家居用品领域。截至2024年2月，品牌在美国本土共开设26家门店，总部位于威斯康星州道奇维尔。品牌名源自地名兰兹角，因创立时印刷错了撇号位置又无力重印，错拼的名称便沿用至今。
FWRD vs LE — 直观对比
营收规模更大
FWRD
是对方的2.0倍
$317.5M
营收增速更快
LE
高出0.4%
-0.3%
净利率更高
LE
高出6.1%
-4.5%
两年增速更快
FWRD
近两年复合增速
-0.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $317.5M |
| 净利润 | $-28.3M | $5.2M |
| 毛利率 | — | 51.8% |
| 营业利润率 | -0.5% | 5.3% |
| 净利率 | -4.5% | 1.6% |
| 营收同比 | -0.3% | 0.1% |
| 净利润同比 | 22.2% | 198.3% |
| 每股收益（稀释后） | $-0.90 | $0.17 |
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FWRDLE
| Q4 25 | $631.2M | $317.5M | ||
| Q3 25 | $631.8M | — | ||
| Q2 25 | $618.8M | $261.2M | ||
| Q1 25 | $613.3M | — | ||
| Q4 24 | $632.8M | $318.6M | ||
| Q3 24 | $655.9M | $317.2M | ||
| Q2 24 | $643.7M | $285.5M | ||
| Q1 24 | $541.8M | $514.9M |
净利润FWRDLE
| Q4 25 | $-28.3M | $5.2M | ||
| Q3 25 | $-16.3M | — | ||
| Q2 25 | $-12.6M | $-8.3M | ||
| Q1 25 | $-50.6M | — | ||
| Q4 24 | $-36.4M | $-593.0K | ||
| Q3 24 | $-73.4M | $-5.3M | ||
| Q2 24 | $-645.4M | $-6.4M | ||
| Q1 24 | $-61.7M | $-8.6M |
毛利率FWRDLE
| Q4 25 | — | 51.8% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 50.8% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 50.6% | ||
| Q3 24 | — | 47.9% | ||
| Q2 24 | — | 48.7% | ||
| Q1 24 | — | 38.0% |
营业利润率FWRDLE
| Q4 25 | -0.5% | 5.3% | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 3.2% | -0.9% | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 12.0% | 2.9% | ||
| Q3 24 | 3.5% | 0.8% | ||
| Q2 24 | -170.2% | 0.8% | ||
| Q1 24 | -12.1% | 1.6% |
净利率FWRDLE
| Q4 25 | -4.5% | 1.6% | ||
| Q3 25 | -2.6% | — | ||
| Q2 25 | -2.0% | -3.2% | ||
| Q1 25 | -8.3% | — | ||
| Q4 24 | -5.8% | -0.2% | ||
| Q3 24 | -11.2% | -1.7% | ||
| Q2 24 | -100.3% | -2.3% | ||
| Q1 24 | -11.4% | -1.7% |
每股收益（稀释后）FWRDLE
| Q4 25 | $-0.90 | $0.17 | ||
| Q3 25 | $-0.52 | — | ||
| Q2 25 | $-0.41 | $-0.27 | ||
| Q1 25 | $-1.68 | — | ||
| Q4 24 | $-1.69 | $-0.02 | ||
| Q3 24 | $-2.66 | $-0.17 | ||
| Q2 24 | $-23.47 | $-0.20 | ||
| Q1 24 | $-2.81 | $-0.27 |
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 | $36.3M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $113.3M | $231.0M |
| 总资产 | $2.7B | $852.7M |
| 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FWRDLE
| Q4 25 | $106.0M | $36.3M | ||
| Q3 25 | $140.4M | — | ||
| Q2 25 | $95.1M | $18.1M | ||
| Q1 25 | $116.3M | — | ||
| Q4 24 | $104.9M | $30.4M | ||
| Q3 24 | $136.6M | $25.6M | ||
| Q2 24 | $84.9M | $27.4M | ||
| Q1 24 | $152.0M | $25.3M |
总债务FWRDLE
| 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FWRDLE
| Q4 25 | $113.3M | $231.0M | ||
| Q3 25 | $139.8M | — | ||
| Q2 25 | $151.8M | $230.1M | ||
| Q1 25 | $154.6M | — | ||
| Q4 24 | $201.7M | $223.6M | ||
| Q3 24 | $226.1M | $226.5M | ||
| Q2 24 | $283.8M | $234.6M | ||
| Q1 24 | $926.1M | $241.6M |
总资产FWRDLE
| Q4 25 | $2.7B | $852.7M | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $2.8B | $760.5M | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | $843.6M | ||
| Q3 24 | $3.1B | $802.5M | ||
| Q2 24 | $3.1B | $800.1M | ||
| Q1 24 | $4.0B | $811.5M |
负债/权益比FWRDLE
| 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 | — | $-15.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-22.4M |
| 自由现金流率自由现金流/营收 | — | -7.1% |
| 资本支出强度资本支出/营收 | 1.3% | 2.1% |
| 现金转化率经营现金流/净利润 | — | -3.03× |
| 过去12个月自由现金流最近4个季度 | — | $-55.0M |
8季度趋势，按日历期对齐
经营现金流FWRDLE
| Q4 25 | — | $-15.7M | ||
| Q3 25 | $52.7M | — | ||
| Q2 25 | — | $-22.5M | ||
| Q1 25 | $27.6M | — | ||
| Q4 24 | $-23.2M | $-17.1M | ||
| Q3 24 | $51.2M | $30.7M | ||
| Q2 24 | $-45.2M | $-25.8M | ||
| Q1 24 | $-51.7M | $93.9M |
自由现金流FWRDLE
| Q4 25 | — | $-22.4M | ||
| Q3 25 | $48.6M | — | ||
| Q2 25 | — | $-30.7M | ||
| Q1 25 | $15.7M | — | ||
| Q4 24 | $-30.5M | $-27.8M | ||
| Q3 24 | $40.7M | $26.0M | ||
| Q2 24 | $-59.6M | $-32.6M | ||
| Q1 24 | $-56.7M | $87.5M |
自由现金流率FWRDLE
| Q4 25 | — | -7.1% | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | -11.8% | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | -4.8% | -8.7% | ||
| Q3 24 | 6.2% | 8.2% | ||
| Q2 24 | -9.3% | -11.4% | ||
| Q1 24 | -10.5% | 17.0% |
资本支出强度FWRDLE
| Q4 25 | 1.3% | 2.1% | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.8% | 3.2% | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 1.1% | 3.3% | ||
| Q3 24 | 1.6% | 1.5% | ||
| Q2 24 | 2.2% | 2.4% | ||
| Q1 24 | 0.9% | 1.2% |
现金转化率FWRDLE
| Q4 25 | — | -3.03× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
LE
| U Se Commerce | $179.8M | 57% |
| Business Outfitters Revenue | $78.8M | 25% |
| Licensing And Retail | $20.2M | 6% |
| Other | $19.8M | 6% |
| Third Party | $18.9M | 6% |
