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FORWARD AIR CORP（FWRD）与百利高（PRGO）财务数据对比。点击上方公司名可切换其他公司
百利高的季度营收约是FORWARD AIR CORP的1.8倍（$1.1B vs $631.2M），FORWARD AIR CORP净利率更高（-4.5% vs -127.8%，领先123.3%），FORWARD AIR CORP同比增速更快（-0.3% vs -2.5%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs 1.3%）
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。
百利高（Perrigo）是一家注册于爱尔兰的非处方仿制药生产商，主打自有品牌OTC药品业务。公司70%的净销售额来自美国医疗市场，为优化税务布局将法定总部设在爱尔兰，该地区销售额仅占总营收的0.6%，2013年曾完成美国历史上第六大企业税收倒置交易。
FWRD vs PRGO — 直观对比
营收规模更大
PRGO
是对方的1.8倍
$631.2M
营收增速更快
FWRD
高出2.3%
-2.5%
净利率更高
FWRD
高出123.3%
-127.8%
两年增速更快
FWRD
近两年复合增速
1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $1.1B |
| 净利润 | $-28.3M | $-1.4B |
| 毛利率 | — | 32.6% |
| 营业利润率 | -0.5% | -116.0% |
| 净利率 | -4.5% | -127.8% |
| 营收同比 | -0.3% | -2.5% |
| 净利润同比 | 22.2% | -3093.9% |
| 每股收益（稀释后） | $-0.90 | $-10.23 |
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FWRDPRGO
| Q4 25 | $631.2M | $1.1B | ||
| Q3 25 | $631.8M | $1.0B | ||
| Q2 25 | $618.8M | $1.1B | ||
| Q1 25 | $613.3M | $1.0B | ||
| Q4 24 | $632.8M | $1.1B | ||
| Q3 24 | $655.9M | $1.1B | ||
| Q2 24 | $643.7M | $1.1B | ||
| Q1 24 | $541.8M | $1.1B |
净利润FWRDPRGO
| Q4 25 | $-28.3M | $-1.4B | ||
| Q3 25 | $-16.3M | $7.5M | ||
| Q2 25 | $-12.6M | $-8.4M | ||
| Q1 25 | $-50.6M | $-6.4M | ||
| Q4 24 | $-36.4M | $-44.4M | ||
| Q3 24 | $-73.4M | $-21.0M | ||
| Q2 24 | $-645.4M | $-108.4M | ||
| Q1 24 | $-61.7M | $2.0M |
毛利率FWRDPRGO
| Q4 25 | — | 32.6% | ||
| Q3 25 | — | 36.1% | ||
| Q2 25 | — | 34.4% | ||
| Q1 25 | — | 37.6% | ||
| Q4 24 | — | 33.9% | ||
| Q3 24 | — | 37.2% | ||
| Q2 24 | — | 37.0% | ||
| Q1 24 | — | 33.1% |
营业利润率FWRDPRGO
| Q4 25 | -0.5% | -116.0% | ||
| Q3 25 | 2.4% | 7.0% | ||
| Q2 25 | 3.2% | 4.3% | ||
| Q1 25 | 0.8% | 4.5% | ||
| Q4 24 | 12.0% | 10.0% | ||
| Q3 24 | 3.5% | 7.4% | ||
| Q2 24 | -170.2% | -2.5% | ||
| Q1 24 | -12.1% | -5.1% |
净利率FWRDPRGO
| Q4 25 | -4.5% | -127.8% | ||
| Q3 25 | -2.6% | 0.7% | ||
| Q2 25 | -2.0% | -0.8% | ||
| Q1 25 | -8.3% | -0.6% | ||
| Q4 24 | -5.8% | -3.9% | ||
| Q3 24 | -11.2% | -1.9% | ||
| Q2 24 | -100.3% | -10.2% | ||
| Q1 24 | -11.4% | 0.2% |
每股收益（稀释后）FWRDPRGO
| Q4 25 | $-0.90 | $-10.23 | ||
| Q3 25 | $-0.52 | $0.05 | ||
| Q2 25 | $-0.41 | $-0.06 | ||
| Q1 25 | $-1.68 | $-0.05 | ||
| Q4 24 | $-1.69 | $-0.32 | ||
| Q3 24 | $-2.66 | $-0.15 | ||
| Q2 24 | $-23.47 | $-0.79 | ||
| Q1 24 | $-2.81 | $0.01 |
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 | — |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $113.3M | $2.9B |
| 总资产 | $2.7B | $8.5B |
| 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FWRDPRGO
| Q4 25 | $106.0M | — | ||
| Q3 25 | $140.4M | $432.1M | ||
| Q2 25 | $95.1M | $454.2M | ||
| Q1 25 | $116.3M | $409.9M | ||
| Q4 24 | $104.9M | $558.8M | ||
| Q3 24 | $136.6M | $1.5B | ||
| Q2 24 | $84.9M | $542.8M | ||
| Q1 24 | $152.0M | $658.5M |
总债务FWRDPRGO
| 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FWRDPRGO
| Q4 25 | $113.3M | $2.9B | ||
| Q3 25 | $139.8M | $4.4B | ||
| Q2 25 | $151.8M | $4.5B | ||
| Q1 25 | $154.6M | $4.4B | ||
| Q4 24 | $201.7M | $4.3B | ||
| Q3 24 | $226.1M | $4.6B | ||
| Q2 24 | $283.8M | $4.5B | ||
| Q1 24 | $926.1M | $4.7B |
总资产FWRDPRGO
| Q4 25 | $2.7B | $8.5B | ||
| Q3 25 | $2.8B | $10.1B | ||
| Q2 25 | $2.8B | $10.1B | ||
| Q1 25 | $2.8B | $9.8B | ||
| Q4 24 | $2.8B | $9.6B | ||
| Q3 24 | $3.1B | $11.2B | ||
| Q2 24 | $3.1B | $10.4B | ||
| Q1 24 | $4.0B | $10.6B |
负债/权益比FWRDPRGO
| 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 | — | $175.4M |
| 自由现金流经营现金流 - 资本支出 | — | $148.6M |
| 自由现金流率自由现金流/营收 | — | 13.4% |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $145.1M |
8季度趋势，按日历期对齐
经营现金流FWRDPRGO
| Q4 25 | — | $175.4M | ||
| Q3 25 | $52.7M | $51.7M | ||
| Q2 25 | — | $75.9M | ||
| Q1 25 | $27.6M | $-64.5M | ||
| Q4 24 | $-23.2M | $312.6M | ||
| Q3 24 | $51.2M | $42.2M | ||
| Q2 24 | $-45.2M | $9.5M | ||
| Q1 24 | $-51.7M | $-1.4M |
自由现金流FWRDPRGO
| Q4 25 | — | $148.6M | ||
| Q3 25 | $48.6M | $29.8M | ||
| Q2 25 | — | $56.7M | ||
| Q1 25 | $15.7M | $-90.0M | ||
| Q4 24 | $-30.5M | $274.9M | ||
| Q3 24 | $40.7M | $15.1M | ||
| Q2 24 | $-59.6M | $-18.9M | ||
| Q1 24 | $-56.7M | $-26.5M |
自由现金流率FWRDPRGO
| Q4 25 | — | 13.4% | ||
| Q3 25 | 7.7% | 2.9% | ||
| Q2 25 | — | 5.4% | ||
| Q1 25 | 2.6% | -8.6% | ||
| Q4 24 | -4.8% | 24.2% | ||
| Q3 24 | 6.2% | 1.4% | ||
| Q2 24 | -9.3% | -1.8% | ||
| Q1 24 | -10.5% | -2.4% |
资本支出强度FWRDPRGO
| Q4 25 | 1.3% | 2.4% | ||
| Q3 25 | 0.7% | 2.1% | ||
| Q2 25 | 0.8% | 1.8% | ||
| Q1 25 | 1.9% | 2.4% | ||
| Q4 24 | 1.1% | 3.3% | ||
| Q3 24 | 1.6% | 2.5% | ||
| Q2 24 | 2.2% | 2.7% | ||
| Q1 24 | 0.9% | 2.3% |
现金转化率FWRDPRGO
| Q4 25 | — | — | ||
| Q3 25 | — | 6.89× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.70× |
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% |
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
