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FORWARD AIR CORP（FWRD）与Natural Grocers by Vitamin Cottage, Inc.（NGVC）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Natural Grocers by Vitamin Cottage, Inc.的1.9倍（$631.2M vs $335.6M），Natural Grocers by Vitamin Cottage, Inc.净利率更高（3.4% vs -4.5%，领先7.9%），Natural Grocers by Vitamin Cottage, Inc.同比增速更快（1.6% vs -0.3%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs 4.4%）
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。
Natural Grocers by Vitamin Cottage, Inc.是美国本土的特色零售连锁企业，主营认证有机食品、膳食补充剂、天然个护及环保家居类产品，面向健康意识较强的消费群体，门店覆盖美国多州，执行严格品控标准，拒绝售卖含人工添加剂的商品。
FWRD vs NGVC — 直观对比
营收规模更大
FWRD
是对方的1.9倍
$335.6M
营收增速更快
NGVC
高出1.9%
-0.3%
净利率更高
NGVC
高出7.9%
-4.5%
两年增速更快
FWRD
近两年复合增速
4.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $335.6M |
| 净利润 | $-28.3M | $11.3M |
| 毛利率 | — | 29.5% |
| 营业利润率 | -0.5% | 4.4% |
| 净利率 | -4.5% | 3.4% |
| 营收同比 | -0.3% | 1.6% |
| 净利润同比 | 22.2% | 14.0% |
| 每股收益（稀释后） | $-0.90 | $0.49 |
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FWRDNGVC
| Q4 25 | $631.2M | $335.6M | ||
| Q3 25 | $631.8M | $336.1M | ||
| Q2 25 | $618.8M | $328.7M | ||
| Q1 25 | $613.3M | $335.8M | ||
| Q4 24 | $632.8M | $330.2M | ||
| Q3 24 | $655.9M | $322.7M | ||
| Q2 24 | $643.7M | $309.1M | ||
| Q1 24 | $541.8M | $308.1M |
净利润FWRDNGVC
| Q4 25 | $-28.3M | $11.3M | ||
| Q3 25 | $-16.3M | $11.8M | ||
| Q2 25 | $-12.6M | $11.6M | ||
| Q1 25 | $-50.6M | $13.1M | ||
| Q4 24 | $-36.4M | $9.9M | ||
| Q3 24 | $-73.4M | $9.0M | ||
| Q2 24 | $-645.4M | $9.2M | ||
| Q1 24 | $-61.7M | $8.0M |
毛利率FWRDNGVC
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 29.5% | ||
| Q2 25 | — | 29.9% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 29.2% | ||
| Q1 24 | — | 29.3% |
营业利润率FWRDNGVC
| Q4 25 | -0.5% | 4.4% | ||
| Q3 25 | 2.4% | 4.6% | ||
| Q2 25 | 3.2% | 4.7% | ||
| Q1 25 | 0.8% | 5.2% | ||
| Q4 24 | 12.0% | 4.0% | ||
| Q3 24 | 3.5% | 3.7% | ||
| Q2 24 | -170.2% | 4.2% | ||
| Q1 24 | -12.1% | 3.7% |
净利率FWRDNGVC
| Q4 25 | -4.5% | 3.4% | ||
| Q3 25 | -2.6% | 3.5% | ||
| Q2 25 | -2.0% | 3.5% | ||
| Q1 25 | -8.3% | 3.9% | ||
| Q4 24 | -5.8% | 3.0% | ||
| Q3 24 | -11.2% | 2.8% | ||
| Q2 24 | -100.3% | 3.0% | ||
| Q1 24 | -11.4% | 2.6% |
每股收益（稀释后）FWRDNGVC
| Q4 25 | $-0.90 | $0.49 | ||
| Q3 25 | $-0.52 | $0.51 | ||
| Q2 25 | $-0.41 | $0.50 | ||
| Q1 25 | $-1.68 | $0.56 | ||
| Q4 24 | $-1.69 | $0.43 | ||
| Q3 24 | $-2.66 | $0.38 | ||
| Q2 24 | $-23.47 | $0.40 | ||
| Q1 24 | $-2.81 | $0.35 |
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 | $23.2M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $113.3M | $220.0M |
| 总资产 | $2.7B | $668.6M |
| 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FWRDNGVC
| Q4 25 | $106.0M | $23.2M | ||
| Q3 25 | $140.4M | $17.1M | ||
| Q2 25 | $95.1M | $13.2M | ||
| Q1 25 | $116.3M | $21.2M | ||
| Q4 24 | $104.9M | $6.3M | ||
| Q3 24 | $136.6M | $8.9M | ||
| Q2 24 | $84.9M | $13.9M | ||
| Q1 24 | $152.0M | $11.0M |
总债务FWRDNGVC
| 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FWRDNGVC
| Q4 25 | $113.3M | $220.0M | ||
| Q3 25 | $139.8M | $212.4M | ||
| Q2 25 | $151.8M | $202.5M | ||
| Q1 25 | $154.6M | $193.0M | ||
| Q4 24 | $201.7M | $181.9M | ||
| Q3 24 | $226.1M | $174.3M | ||
| Q2 24 | $283.8M | $167.8M | ||
| Q1 24 | $926.1M | $160.0M |
总资产FWRDNGVC
| Q4 25 | $2.7B | $668.6M | ||
| Q3 25 | $2.8B | $670.5M | ||
| Q2 25 | $2.8B | $659.0M | ||
| Q1 25 | $2.8B | $664.6M | ||
| Q4 24 | $2.8B | $648.9M | ||
| Q3 24 | $3.1B | $655.5M | ||
| Q2 24 | $3.1B | $654.4M | ||
| Q1 24 | $4.0B | $656.6M |
负债/权益比FWRDNGVC
| 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 | — | $21.1M |
| 自由现金流经营现金流 - 资本支出 | — | $11.6M |
| 自由现金流率自由现金流/营收 | — | 3.4% |
| 资本支出强度资本支出/营收 | 1.3% | 2.9% |
| 现金转化率经营现金流/净利润 | — | 1.86× |
| 过去12个月自由现金流最近4个季度 | — | $42.6M |
8季度趋势，按日历期对齐
经营现金流FWRDNGVC
| Q4 25 | — | $21.1M | ||
| Q3 25 | $52.7M | $15.6M | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | $27.6M | $34.1M | ||
| Q4 24 | $-23.2M | $2.7M | ||
| Q3 24 | $51.2M | $24.5M | ||
| Q2 24 | $-45.2M | $12.4M | ||
| Q1 24 | $-51.7M | $20.2M |
自由现金流FWRDNGVC
| Q4 25 | — | $11.6M | ||
| Q3 25 | $48.6M | $7.5M | ||
| Q2 25 | — | $-4.2M | ||
| Q1 25 | $15.7M | $27.6M | ||
| Q4 24 | $-30.5M | $-6.9M | ||
| Q3 24 | $40.7M | $18.0M | ||
| Q2 24 | $-59.6M | $3.6M | ||
| Q1 24 | $-56.7M | $9.8M |
自由现金流率FWRDNGVC
| Q4 25 | — | 3.4% | ||
| Q3 25 | 7.7% | 2.2% | ||
| Q2 25 | — | -1.3% | ||
| Q1 25 | 2.6% | 8.2% | ||
| Q4 24 | -4.8% | -2.1% | ||
| Q3 24 | 6.2% | 5.6% | ||
| Q2 24 | -9.3% | 1.2% | ||
| Q1 24 | -10.5% | 3.2% |
资本支出强度FWRDNGVC
| Q4 25 | 1.3% | 2.9% | ||
| Q3 25 | 0.7% | 2.4% | ||
| Q2 25 | 0.8% | 2.2% | ||
| Q1 25 | 1.9% | 1.9% | ||
| Q4 24 | 1.1% | 2.9% | ||
| Q3 24 | 1.6% | 2.0% | ||
| Q2 24 | 2.2% | 2.9% | ||
| Q1 24 | 0.9% | 3.4% |
现金转化率FWRDNGVC
| Q4 25 | — | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | — | 2.54× |
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% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
