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FORWARD AIR CORP（FWRD）与NORTHERN OIL & GAS, INC.（NOG）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NORTHERN OIL & GAS, INC.的1.0倍（$631.2M vs $610.2M），FORWARD AIR CORP净利率更高（-4.5% vs -11.6%，领先7.1%），FORWARD AIR CORP同比增速更快（-0.3% vs -72.6%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs 4.3%）
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。
Marathon Oil Corporation是一家美国油气勘探开发企业，核心业务涵盖油气资源的勘探、开采与运营，2024年11月被康菲石油收购，相关业务与资产已并入康菲石油体系。
FWRD vs NOG — 直观对比
营收规模更大
FWRD
是对方的1.0倍
$610.2M
营收增速更快
FWRD
高出72.3%
-72.6%
净利率更高
FWRD
高出7.1%
-11.6%
两年增速更快
FWRD
近两年复合增速
4.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $610.2M |
| 净利润 | $-28.3M | $-70.7M |
| 毛利率 | — | — |
| 营业利润率 | -0.5% | — |
| 净利率 | -4.5% | -11.6% |
| 营收同比 | -0.3% | -72.6% |
| 净利润同比 | 22.2% | -198.7% |
| 每股收益（稀释后） | $-0.90 | $-0.73 |
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FWRDNOG
| Q1 26 | — | $610.2M | ||
| Q4 25 | $631.2M | $610.2M | ||
| Q3 25 | $631.8M | $556.6M | ||
| Q2 25 | $618.8M | $706.8M | ||
| Q1 25 | $613.3M | $602.1M | ||
| Q4 24 | $632.8M | $515.0M | ||
| Q3 24 | $655.9M | $753.6M | ||
| Q2 24 | $643.7M | $560.8M |
净利润FWRDNOG
| Q1 26 | — | $-70.7M | ||
| Q4 25 | $-28.3M | $-70.7M | ||
| Q3 25 | $-16.3M | $-129.1M | ||
| Q2 25 | $-12.6M | $99.6M | ||
| Q1 25 | $-50.6M | $139.0M | ||
| Q4 24 | $-36.4M | $71.7M | ||
| Q3 24 | $-73.4M | $298.4M | ||
| Q2 24 | $-645.4M | $138.6M |
毛利率FWRDNOG
| Q1 26 | — | — | ||
| Q4 25 | — | 80.4% | ||
| Q3 25 | — | 78.7% | ||
| Q2 25 | — | 82.8% | ||
| Q1 25 | — | 81.1% | ||
| Q4 24 | — | 77.4% | ||
| Q3 24 | — | 85.8% | ||
| Q2 24 | — | 82.0% |
营业利润率FWRDNOG
| Q1 26 | — | — | ||
| Q4 25 | -0.5% | -5.5% | ||
| Q3 25 | 2.4% | -22.6% | ||
| Q2 25 | 3.2% | 24.9% | ||
| Q1 25 | 0.8% | 38.1% | ||
| Q4 24 | 12.0% | 25.8% | ||
| Q3 24 | 3.5% | 57.6% | ||
| Q2 24 | -170.2% | 39.0% |
净利率FWRDNOG
| Q1 26 | — | -11.6% | ||
| Q4 25 | -4.5% | -11.6% | ||
| Q3 25 | -2.6% | -23.2% | ||
| Q2 25 | -2.0% | 14.1% | ||
| Q1 25 | -8.3% | 23.1% | ||
| Q4 24 | -5.8% | 13.9% | ||
| Q3 24 | -11.2% | 39.6% | ||
| Q2 24 | -100.3% | 24.7% |
每股收益（稀释后）FWRDNOG
| Q1 26 | — | $-0.73 | ||
| Q4 25 | $-0.90 | $-0.67 | ||
| Q3 25 | $-0.52 | $-1.33 | ||
| Q2 25 | $-0.41 | $1.00 | ||
| Q1 25 | $-1.68 | $1.39 | ||
| Q4 24 | $-1.69 | $0.71 | ||
| Q3 24 | $-2.66 | $2.96 | ||
| Q2 24 | $-23.47 | $1.36 |
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 | $14.3M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $113.3M | $2.1B |
| 总资产 | $2.7B | $5.4B |
| 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FWRDNOG
| Q1 26 | — | $14.3M | ||
| Q4 25 | $106.0M | $14.3M | ||
| Q3 25 | $140.4M | $31.6M | ||
| Q2 25 | $95.1M | $25.9M | ||
| Q1 25 | $116.3M | $33.6M | ||
| Q4 24 | $104.9M | $8.9M | ||
| Q3 24 | $136.6M | $34.4M | ||
| Q2 24 | $84.9M | $7.8M |
总债务FWRDNOG
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $2.4B | ||
| Q3 25 | $1.7B | $2.3B | ||
| Q2 25 | — | $2.4B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | $2.0B | ||
| Q2 24 | — | $1.9B |
股东权益FWRDNOG
| Q1 26 | — | $2.1B | ||
| Q4 25 | $113.3M | $2.1B | ||
| Q3 25 | $139.8M | $2.2B | ||
| Q2 25 | $151.8M | $2.4B | ||
| Q1 25 | $154.6M | $2.4B | ||
| Q4 24 | $201.7M | $2.3B | ||
| Q3 24 | $226.1M | $2.3B | ||
| Q2 24 | $283.8M | $2.1B |
总资产FWRDNOG
| Q1 26 | — | $5.4B | ||
| Q4 25 | $2.7B | $5.4B | ||
| Q3 25 | $2.8B | $5.5B | ||
| Q2 25 | $2.8B | $5.7B | ||
| Q1 25 | $2.8B | $5.7B | ||
| Q4 24 | $2.8B | $5.6B | ||
| Q3 24 | $3.1B | $5.1B | ||
| Q2 24 | $3.1B | $4.7B |
负债/权益比FWRDNOG
| Q1 26 | — | — | ||
| Q4 25 | 14.89× | 1.13× | ||
| Q3 25 | 12.05× | 1.05× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 0.96× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.91× |
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 | — | $312.6M |
| 自由现金流经营现金流 - 资本支出 | — | $43.2M |
| 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% | 31.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流FWRDNOG
| Q1 26 | — | $312.6M | ||
| Q4 25 | — | $312.6M | ||
| Q3 25 | $52.7M | $423.1M | ||
| Q2 25 | — | $362.1M | ||
| Q1 25 | $27.6M | $407.4M | ||
| Q4 24 | $-23.2M | $290.3M | ||
| Q3 24 | $51.2M | $385.8M | ||
| Q2 24 | $-45.2M | $340.5M |
自由现金流FWRDNOG
| Q1 26 | — | $43.2M | ||
| Q4 25 | — | — | ||
| Q3 25 | $48.6M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $15.7M | — | ||
| Q4 24 | $-30.5M | — | ||
| Q3 24 | $40.7M | — | ||
| Q2 24 | $-59.6M | — |
自由现金流率FWRDNOG
| Q1 26 | — | 7.1% | ||
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | -4.8% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | -9.3% | — |
资本支出强度FWRDNOG
| Q1 26 | — | 31.5% | ||
| Q4 25 | 1.3% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 2.2% | — |
现金转化率FWRDNOG
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.64× | ||
| Q1 25 | — | 2.93× | ||
| Q4 24 | — | 4.05× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 2.46× |
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% |
NOG
| Oil and Gas Sales | $447.7M | 73% |
| Gain on Commodity Derivatives, Net | $159.3M | 26% |
| Other Revenue | $3.1M | 1% |
