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FORWARD AIR CORP（FWRD）与PROCORE TECHNOLOGIES, INC.（PCOR）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PROCORE TECHNOLOGIES, INC.的1.8倍（$631.2M vs $349.1M），FORWARD AIR CORP净利率更高（-4.5% vs -10.8%，领先6.3%），PROCORE TECHNOLOGIES, INC.同比增速更快（15.6% vs -0.3%），过去两年PROCORE TECHNOLOGIES, INC.的营收复合增速更高（13.8% 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。
Procore Technologies是2002年成立的美国建筑管理软件即服务（SaaS）企业，总部位于加利福尼亚州卡平特里亚。公司打造的全球平台可连接建筑行业从业者，支持搭建简化工作流，统一展现建筑项目信息，覆盖任务追踪、项目流程管理、日程排期等核心功能。
FWRD vs PCOR — 直观对比
营收规模更大
FWRD
是对方的1.8倍
$349.1M
营收增速更快
PCOR
高出15.8%
-0.3%
净利率更高
FWRD
高出6.3%
-10.8%
两年增速更快
PCOR
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $349.1M |
| 净利润 | $-28.3M | $-37.6M |
| 毛利率 | — | 80.1% |
| 营业利润率 | -0.5% | -12.3% |
| 净利率 | -4.5% | -10.8% |
| 营收同比 | -0.3% | 15.6% |
| 净利润同比 | 22.2% | 39.6% |
| 每股收益（稀释后） | $-0.90 | $-0.25 |
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FWRDPCOR
| Q4 25 | $631.2M | $349.1M | ||
| Q3 25 | $631.8M | $338.9M | ||
| Q2 25 | $618.8M | $323.9M | ||
| Q1 25 | $613.3M | $310.6M | ||
| Q4 24 | $632.8M | $302.0M | ||
| Q3 24 | $655.9M | $295.9M | ||
| Q2 24 | $643.7M | $284.3M | ||
| Q1 24 | $541.8M | $269.4M |
净利润FWRDPCOR
| Q4 25 | $-28.3M | $-37.6M | ||
| Q3 25 | $-16.3M | $-9.1M | ||
| Q2 25 | $-12.6M | $-21.1M | ||
| Q1 25 | $-50.6M | $-33.0M | ||
| Q4 24 | $-36.4M | $-62.3M | ||
| Q3 24 | $-73.4M | $-26.4M | ||
| Q2 24 | $-645.4M | $-6.3M | ||
| Q1 24 | $-61.7M | $-11.0M |
毛利率FWRDPCOR
| Q4 25 | — | 80.1% | ||
| Q3 25 | — | 79.7% | ||
| Q2 25 | — | 79.1% | ||
| Q1 25 | — | 79.1% | ||
| Q4 24 | — | 81.2% | ||
| Q3 24 | — | 81.4% | ||
| Q2 24 | — | 83.1% | ||
| Q1 24 | — | 83.0% |
营业利润率FWRDPCOR
| Q4 25 | -0.5% | -12.3% | ||
| Q3 25 | 2.4% | -4.4% | ||
| Q2 25 | 3.2% | -9.3% | ||
| Q1 25 | 0.8% | -11.7% | ||
| Q4 24 | 12.0% | -21.9% | ||
| Q3 24 | 3.5% | -12.3% | ||
| Q2 24 | -170.2% | -5.2% | ||
| Q1 24 | -12.1% | -7.0% |
净利率FWRDPCOR
| Q4 25 | -4.5% | -10.8% | ||
| Q3 25 | -2.6% | -2.7% | ||
| Q2 25 | -2.0% | -6.5% | ||
| Q1 25 | -8.3% | -10.6% | ||
| Q4 24 | -5.8% | -20.6% | ||
| Q3 24 | -11.2% | -8.9% | ||
| Q2 24 | -100.3% | -2.2% | ||
| Q1 24 | -11.4% | -4.1% |
每股收益（稀释后）FWRDPCOR
| Q4 25 | $-0.90 | $-0.25 | ||
| Q3 25 | $-0.52 | $-0.06 | ||
| Q2 25 | $-0.41 | $-0.14 | ||
| Q1 25 | $-1.68 | $-0.22 | ||
| Q4 24 | $-1.69 | $-0.42 | ||
| Q3 24 | $-2.66 | $-0.18 | ||
| Q2 24 | $-23.47 | $-0.04 | ||
| Q1 24 | $-2.81 | $-0.08 |
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 | $768.5M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $113.3M | $1.3B |
| 总资产 | $2.7B | $2.2B |
| 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FWRDPCOR
| Q4 25 | $106.0M | $768.5M | ||
| Q3 25 | $140.4M | $684.0M | ||
| Q2 25 | $95.1M | $620.9M | ||
| Q1 25 | $116.3M | $566.7M | ||
| Q4 24 | $104.9M | $775.4M | ||
| Q3 24 | $136.6M | $756.9M | ||
| Q2 24 | $84.9M | $735.4M | ||
| Q1 24 | $152.0M | $744.6M |
总债务FWRDPCOR
| 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FWRDPCOR
| Q4 25 | $113.3M | $1.3B | ||
| Q3 25 | $139.8M | $1.2B | ||
| Q2 25 | $151.8M | $1.2B | ||
| Q1 25 | $154.6M | $1.2B | ||
| Q4 24 | $201.7M | $1.3B | ||
| Q3 24 | $226.1M | $1.3B | ||
| Q2 24 | $283.8M | $1.3B | ||
| Q1 24 | $926.1M | $1.2B |
总资产FWRDPCOR
| Q4 25 | $2.7B | $2.2B | ||
| Q3 25 | $2.8B | $2.1B | ||
| Q2 25 | $2.8B | $2.0B | ||
| Q1 25 | $2.8B | $1.9B | ||
| Q4 24 | $2.8B | $2.1B | ||
| Q3 24 | $3.1B | $2.0B | ||
| Q2 24 | $3.1B | $2.0B | ||
| Q1 24 | $4.0B | $1.9B |
负债/权益比FWRDPCOR
| 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 | — | $114.9M |
| 自由现金流经营现金流 - 资本支出 | — | $109.2M |
| 自由现金流率自由现金流/营收 | — | 31.3% |
| 资本支出强度资本支出/营收 | 1.3% | 1.6% |
| 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 | — | $282.2M |
8季度趋势，按日历期对齐
经营现金流FWRDPCOR
| Q4 25 | — | $114.9M | ||
| Q3 25 | $52.7M | $88.5M | ||
| Q2 25 | — | $30.8M | ||
| Q1 25 | $27.6M | $66.0M | ||
| Q4 24 | $-23.2M | $29.1M | ||
| Q3 24 | $51.2M | $39.3M | ||
| Q2 24 | $-45.2M | $58.7M | ||
| Q1 24 | $-51.7M | $69.1M |
自由现金流FWRDPCOR
| Q4 25 | — | $109.2M | ||
| Q3 25 | $48.6M | $83.1M | ||
| Q2 25 | — | $27.9M | ||
| Q1 25 | $15.7M | $62.0M | ||
| Q4 24 | $-30.5M | $17.4M | ||
| Q3 24 | $40.7M | $35.7M | ||
| Q2 24 | $-59.6M | $56.8M | ||
| Q1 24 | $-56.7M | $67.1M |
自由现金流率FWRDPCOR
| Q4 25 | — | 31.3% | ||
| Q3 25 | 7.7% | 24.5% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | 2.6% | 20.0% | ||
| Q4 24 | -4.8% | 5.8% | ||
| Q3 24 | 6.2% | 12.1% | ||
| Q2 24 | -9.3% | 20.0% | ||
| Q1 24 | -10.5% | 24.9% |
资本支出强度FWRDPCOR
| Q4 25 | 1.3% | 1.6% | ||
| Q3 25 | 0.7% | 1.6% | ||
| Q2 25 | 0.8% | 0.9% | ||
| Q1 25 | 1.9% | 1.3% | ||
| Q4 24 | 1.1% | 3.9% | ||
| Q3 24 | 1.6% | 1.2% | ||
| Q2 24 | 2.2% | 0.7% | ||
| Q1 24 | 0.9% | 0.8% |
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% |
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
