vs
FORWARD AIR CORP（FWRD）与Mativ Holdings, Inc.（MATV）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Mativ Holdings, Inc.的1.4倍（$631.2M vs $463.1M），Mativ Holdings, Inc.净利率更高（21.8% vs -4.5%，领先26.3%），Mativ Holdings, Inc.同比增速更快（1.0% vs -0.3%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs -3.8%）
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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
FWRD vs MATV — 直观对比
营收规模更大
FWRD
是对方的1.4倍
$463.1M
营收增速更快
MATV
高出1.2%
-0.3%
净利率更高
MATV
高出26.3%
-4.5%
两年增速更快
FWRD
近两年复合增速
-3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $463.1M |
| 净利润 | $-28.3M | $100.8M |
| 毛利率 | — | 18.8% |
| 营业利润率 | -0.5% | 2.2% |
| 净利率 | -4.5% | 21.8% |
| 营收同比 | -0.3% | 1.0% |
| 净利润同比 | 22.2% | 6620.0% |
| 每股收益（稀释后） | $-0.90 | $1.87 |
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FWRDMATV
| Q4 25 | $631.2M | $463.1M | ||
| Q3 25 | $631.8M | $513.7M | ||
| Q2 25 | $618.8M | $525.4M | ||
| Q1 25 | $613.3M | $484.8M | ||
| Q4 24 | $632.8M | $458.6M | ||
| Q3 24 | $655.9M | $498.5M | ||
| Q2 24 | $643.7M | $523.8M | ||
| Q1 24 | $541.8M | $500.2M |
净利润FWRDMATV
| Q4 25 | $-28.3M | $100.8M | ||
| Q3 25 | $-16.3M | $-3.2M | ||
| Q2 25 | $-12.6M | $-9.5M | ||
| Q1 25 | $-50.6M | $-425.5M | ||
| Q4 24 | $-36.4M | $1.5M | ||
| Q3 24 | $-73.4M | $-20.8M | ||
| Q2 24 | $-645.4M | $-1.4M | ||
| Q1 24 | $-61.7M | $-28.0M |
毛利率FWRDMATV
| Q4 25 | — | 18.8% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | — | 19.7% | ||
| Q1 25 | — | 15.0% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 18.8% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 16.8% |
营业利润率FWRDMATV
| Q4 25 | -0.5% | 2.2% | ||
| Q3 25 | 2.4% | 3.1% | ||
| Q2 25 | 3.2% | 3.8% | ||
| Q1 25 | 0.8% | -88.8% | ||
| Q4 24 | 12.0% | 0.6% | ||
| Q3 24 | 3.5% | 1.4% | ||
| Q2 24 | -170.2% | 2.0% | ||
| Q1 24 | -12.1% | -2.8% |
净利率FWRDMATV
| Q4 25 | -4.5% | 21.8% | ||
| Q3 25 | -2.6% | -0.6% | ||
| Q2 25 | -2.0% | -1.8% | ||
| Q1 25 | -8.3% | -87.8% | ||
| Q4 24 | -5.8% | 0.3% | ||
| Q3 24 | -11.2% | -4.2% | ||
| Q2 24 | -100.3% | -0.3% | ||
| Q1 24 | -11.4% | -5.6% |
每股收益（稀释后）FWRDMATV
| Q4 25 | $-0.90 | $1.87 | ||
| Q3 25 | $-0.52 | $-0.06 | ||
| Q2 25 | $-0.41 | $-0.18 | ||
| Q1 25 | $-1.68 | $-7.82 | ||
| Q4 24 | $-1.69 | $0.03 | ||
| Q3 24 | $-2.66 | $-0.38 | ||
| Q2 24 | $-23.47 | $-0.03 | ||
| Q1 24 | $-2.81 | $-0.52 |
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 | $84.2M |
| 总债务越低越好 | $1.7B | $1.0B |
| 股东权益账面价值 | $113.3M | $498.7M |
| 总资产 | $2.7B | $2.1B |
| 负债/权益比越低杠杆越低 | 14.89× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资FWRDMATV
| Q4 25 | $106.0M | $84.2M | ||
| Q3 25 | $140.4M | $97.1M | ||
| Q2 25 | $95.1M | $95.6M | ||
| Q1 25 | $116.3M | $84.0M | ||
| Q4 24 | $104.9M | $94.3M | ||
| Q3 24 | $136.6M | $162.2M | ||
| Q2 24 | $84.9M | $133.4M | ||
| Q1 24 | $152.0M | $128.9M |
总债务FWRDMATV
| Q4 25 | $1.7B | $1.0B | ||
| Q3 25 | $1.7B | $1.0B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | $1.7B | $1.2B |
股东权益FWRDMATV
| Q4 25 | $113.3M | $498.7M | ||
| Q3 25 | $139.8M | $397.4M | ||
| Q2 25 | $151.8M | $416.6M | ||
| Q1 25 | $154.6M | $428.2M | ||
| Q4 24 | $201.7M | $858.5M | ||
| Q3 24 | $226.1M | $882.3M | ||
| Q2 24 | $283.8M | $898.0M | ||
| Q1 24 | $926.1M | $906.9M |
总资产FWRDMATV
| Q4 25 | $2.7B | $2.1B | ||
| Q3 25 | $2.8B | $2.0B | ||
| Q2 25 | $2.8B | $2.1B | ||
| Q1 25 | $2.8B | $2.1B | ||
| Q4 24 | $2.8B | $2.4B | ||
| Q3 24 | $3.1B | $2.6B | ||
| Q2 24 | $3.1B | $2.6B | ||
| Q1 24 | $4.0B | $2.7B |
负债/权益比FWRDMATV
| Q4 25 | 14.89× | 2.07× | ||
| Q3 25 | 12.05× | 2.63× | ||
| Q2 25 | — | 2.66× | ||
| Q1 25 | — | 2.67× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 1.32× | ||
| Q2 24 | — | 1.29× | ||
| Q1 24 | 1.81× | 1.30× |
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 | — | $19.3M |
| 自由现金流经营现金流 - 资本支出 | — | $8.0M |
| 自由现金流率自由现金流/营收 | — | 1.7% |
| 资本支出强度资本支出/营收 | 1.3% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.19× |
| 过去12个月自由现金流最近4个季度 | — | $93.8M |
8季度趋势，按日历期对齐
经营现金流FWRDMATV
| Q4 25 | — | $19.3M | ||
| Q3 25 | $52.7M | $72.8M | ||
| Q2 25 | — | $57.6M | ||
| Q1 25 | $27.6M | $-15.9M | ||
| Q4 24 | $-23.2M | $24.1M | ||
| Q3 24 | $51.2M | $37.6M | ||
| Q2 24 | $-45.2M | $46.1M | ||
| Q1 24 | $-51.7M | $-13.0M |
自由现金流FWRDMATV
| Q4 25 | — | $8.0M | ||
| Q3 25 | $48.6M | $66.7M | ||
| Q2 25 | — | $48.9M | ||
| Q1 25 | $15.7M | $-29.8M | ||
| Q4 24 | $-30.5M | $2.0M | ||
| Q3 24 | $40.7M | $25.5M | ||
| Q2 24 | $-59.6M | $37.4M | ||
| Q1 24 | $-56.7M | $-25.1M |
自由现金流率FWRDMATV
| Q4 25 | — | 1.7% | ||
| Q3 25 | 7.7% | 13.0% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | 2.6% | -6.1% | ||
| Q4 24 | -4.8% | 0.4% | ||
| Q3 24 | 6.2% | 5.1% | ||
| Q2 24 | -9.3% | 7.1% | ||
| Q1 24 | -10.5% | -5.0% |
资本支出强度FWRDMATV
| Q4 25 | 1.3% | 2.4% | ||
| Q3 25 | 0.7% | 1.2% | ||
| Q2 25 | 0.8% | 1.7% | ||
| Q1 25 | 1.9% | 2.9% | ||
| Q4 24 | 1.1% | 4.8% | ||
| Q3 24 | 1.6% | 2.4% | ||
| Q2 24 | 2.2% | 1.7% | ||
| Q1 24 | 0.9% | 2.4% |
现金转化率FWRDMATV
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 16.07× | ||
| 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% |
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
