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FORWARD AIR CORP（FWRD）与Regency Centers（REG）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Regency Centers的1.6倍（$631.2M vs $404.2M），Regency Centers净利率更高（50.1% vs -4.5%，领先54.6%），Regency Centers同比增速更快（8.5% vs -0.3%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs 5.4%）
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。
Regency Centers是总部位于美国佛罗里达州杰克逊维尔的房地产投资信托基金，也是以超市为核心租户的大型购物中心运营商之一。截至2020年10月21日，公司共持有415处物业，总建筑面积达5600万平方英尺，知名资产包括Serramonte Center及Village District 30%的股权。
FWRD vs REG — 直观对比
营收规模更大
FWRD
是对方的1.6倍
$404.2M
营收增速更快
REG
高出8.8%
-0.3%
净利率更高
REG
高出54.6%
-4.5%
两年增速更快
FWRD
近两年复合增速
5.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $404.2M |
| 净利润 | $-28.3M | $202.5M |
| 毛利率 | — | — |
| 营业利润率 | -0.5% | 71.0% |
| 净利率 | -4.5% | 50.1% |
| 营收同比 | -0.3% | 8.5% |
| 净利润同比 | 22.2% | 134.1% |
| 每股收益（稀释后） | $-0.90 | — |
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FWRDREG
| Q4 25 | $631.2M | $404.2M | ||
| Q3 25 | $631.8M | $387.6M | ||
| Q2 25 | $618.8M | $380.8M | ||
| Q1 25 | $613.3M | $380.9M | ||
| Q4 24 | $632.8M | $372.5M | ||
| Q3 24 | $655.9M | $360.3M | ||
| Q2 24 | $643.7M | $357.3M | ||
| Q1 24 | $541.8M | $363.9M |
净利润FWRDREG
| Q4 25 | $-28.3M | $202.5M | ||
| Q3 25 | $-16.3M | $109.4M | ||
| Q2 25 | $-12.6M | $106.0M | ||
| Q1 25 | $-50.6M | $109.6M | ||
| Q4 24 | $-36.4M | $86.5M | ||
| Q3 24 | $-73.4M | $101.5M | ||
| Q2 24 | $-645.4M | $102.7M | ||
| Q1 24 | $-61.7M | $109.8M |
营业利润率FWRDREG
| Q4 25 | -0.5% | 71.0% | ||
| Q3 25 | 2.4% | 72.7% | ||
| Q2 25 | 3.2% | 73.8% | ||
| Q1 25 | 0.8% | 71.8% | ||
| Q4 24 | 12.0% | 71.1% | ||
| Q3 24 | 3.5% | 72.5% | ||
| Q2 24 | -170.2% | 72.3% | ||
| Q1 24 | -12.1% | 72.3% |
净利率FWRDREG
| Q4 25 | -4.5% | 50.1% | ||
| Q3 25 | -2.6% | 28.2% | ||
| Q2 25 | -2.0% | 27.8% | ||
| Q1 25 | -8.3% | 28.8% | ||
| Q4 24 | -5.8% | 23.2% | ||
| Q3 24 | -11.2% | 28.2% | ||
| Q2 24 | -100.3% | 28.7% | ||
| Q1 24 | -11.4% | 30.2% |
每股收益（稀释后）FWRDREG
| Q4 25 | $-0.90 | — | ||
| Q3 25 | $-0.52 | — | ||
| Q2 25 | $-0.41 | — | ||
| Q1 25 | $-1.68 | — | ||
| Q4 24 | $-1.69 | — | ||
| Q3 24 | $-2.66 | — | ||
| Q2 24 | $-23.47 | — | ||
| Q1 24 | $-2.81 | — |
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 | $4.7B |
| 股东权益账面价值 | $113.3M | $6.9B |
| 总资产 | $2.7B | $13.0B |
| 负债/权益比越低杠杆越低 | 14.89× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资FWRDREG
| Q4 25 | $106.0M | — | ||
| Q3 25 | $140.4M | — | ||
| Q2 25 | $95.1M | — | ||
| Q1 25 | $116.3M | — | ||
| Q4 24 | $104.9M | — | ||
| Q3 24 | $136.6M | — | ||
| Q2 24 | $84.9M | — | ||
| Q1 24 | $152.0M | — |
总债务FWRDREG
| Q4 25 | $1.7B | $4.7B | ||
| Q3 25 | $1.7B | $4.9B | ||
| Q2 25 | — | $4.8B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | — | $4.4B | ||
| Q2 24 | — | $4.4B | ||
| Q1 24 | $1.7B | $4.4B |
股东权益FWRDREG
| Q4 25 | $113.3M | $6.9B | ||
| Q3 25 | $139.8M | $6.8B | ||
| Q2 25 | $151.8M | $6.7B | ||
| Q1 25 | $154.6M | $6.7B | ||
| Q4 24 | $201.7M | $6.7B | ||
| Q3 24 | $226.1M | $6.8B | ||
| Q2 24 | $283.8M | $6.8B | ||
| Q1 24 | $926.1M | $7.0B |
总资产FWRDREG
| Q4 25 | $2.7B | $13.0B | ||
| Q3 25 | $2.8B | $13.1B | ||
| Q2 25 | $2.8B | $12.7B | ||
| Q1 25 | $2.8B | $12.6B | ||
| Q4 24 | $2.8B | $12.4B | ||
| Q3 24 | $3.1B | $12.4B | ||
| Q2 24 | $3.1B | $12.4B | ||
| Q1 24 | $4.0B | $12.7B |
负债/权益比FWRDREG
| Q4 25 | 14.89× | 0.69× | ||
| Q3 25 | 12.05× | 0.72× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | 0.65× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | 1.81× | 0.63× |
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 | — | $203.9M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | 1.3% | — |
| 现金转化率经营现金流/净利润 | — | 1.01× |
| 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FWRDREG
| Q4 25 | — | $203.9M | ||
| Q3 25 | $52.7M | $218.7M | ||
| Q2 25 | — | $244.0M | ||
| Q1 25 | $27.6M | $161.0M | ||
| Q4 24 | $-23.2M | $191.4M | ||
| Q3 24 | $51.2M | $227.6M | ||
| Q2 24 | $-45.2M | $203.5M | ||
| Q1 24 | $-51.7M | $167.8M |
自由现金流FWRDREG
| Q4 25 | — | — | ||
| Q3 25 | $48.6M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $15.7M | — | ||
| Q4 24 | $-30.5M | — | ||
| Q3 24 | $40.7M | — | ||
| Q2 24 | $-59.6M | — | ||
| Q1 24 | $-56.7M | — |
自由现金流率FWRDREG
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | -4.8% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | -9.3% | — | ||
| Q1 24 | -10.5% | — |
资本支出强度FWRDREG
| 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% | — | ||
| Q1 24 | 0.9% | — |
现金转化率FWRDREG
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | 2.00× | ||
| Q2 25 | — | 2.30× | ||
| Q1 25 | — | 1.47× | ||
| Q4 24 | — | 2.21× | ||
| Q3 24 | — | 2.24× | ||
| Q2 24 | — | 1.98× | ||
| Q1 24 | — | 1.53× |
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% |
REG
| Shopping Centers | $418.0M | 103% |
| Propertymanagementservices | $4.1M | 1% |
| Assetmanagementservices | $1.7M | 0% |
