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FORWARD AIR CORP（FWRD）与越洋钻探（RIG）财务数据对比。点击上方公司名可切换其他公司
越洋钻探的季度营收约是FORWARD AIR CORP的1.7倍（$1.0B vs $631.2M），越洋钻探净利率更高（2.4% vs -4.5%，领先6.9%），越洋钻探同比增速更快（9.6% vs -0.3%），过去两年越洋钻探的营收复合增速更高（16.9% 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。
越洋钻探（Transocean Ltd.）是按营收计全球规模最大的海上钻探承包商，总部位于瑞士施泰因豪森，起源于美国，目前在加拿大、美国、挪威、英国、印度、巴西、新加坡等20个国家设有办事机构，业务覆盖全球主要海上油气开采区域。
FWRD vs RIG — 直观对比
营收规模更大
RIG
是对方的1.7倍
$631.2M
营收增速更快
RIG
高出9.8%
-0.3%
净利率更高
RIG
高出6.9%
-4.5%
两年增速更快
RIG
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $1.0B |
| 净利润 | $-28.3M | $25.0M |
| 毛利率 | — | 42.0% |
| 营业利润率 | -0.5% | 23.0% |
| 净利率 | -4.5% | 2.4% |
| 营收同比 | -0.3% | 9.6% |
| 净利润同比 | 22.2% | 257.1% |
| 每股收益（稀释后） | $-0.90 | $0.13 |
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FWRDRIG
| Q4 25 | $631.2M | $1.0B | ||
| Q3 25 | $631.8M | $1.0B | ||
| Q2 25 | $618.8M | $988.0M | ||
| Q1 25 | $613.3M | $906.0M | ||
| Q4 24 | $632.8M | $952.0M | ||
| Q3 24 | $655.9M | $948.0M | ||
| Q2 24 | $643.7M | $861.0M | ||
| Q1 24 | $541.8M | $763.0M |
净利润FWRDRIG
| Q4 25 | $-28.3M | $25.0M | ||
| Q3 25 | $-16.3M | $-1.9B | ||
| Q2 25 | $-12.6M | $-938.0M | ||
| Q1 25 | $-50.6M | $-79.0M | ||
| Q4 24 | $-36.4M | $7.0M | ||
| Q3 24 | $-73.4M | $-494.0M | ||
| Q2 24 | $-645.4M | $-123.0M | ||
| Q1 24 | $-61.7M | $98.0M |
毛利率FWRDRIG
| Q4 25 | — | 42.0% | ||
| Q3 25 | — | 43.2% | ||
| Q2 25 | — | 39.4% | ||
| Q1 25 | — | 31.8% | ||
| Q4 24 | — | 39.2% | ||
| Q3 24 | — | 40.6% | ||
| Q2 24 | — | 38.0% | ||
| Q1 24 | — | 31.5% |
营业利润率FWRDRIG
| Q4 25 | -0.5% | 23.0% | ||
| Q3 25 | 2.4% | -163.1% | ||
| Q2 25 | 3.2% | -97.6% | ||
| Q1 25 | 0.8% | 7.1% | ||
| Q4 24 | 12.0% | 13.7% | ||
| Q3 24 | 3.5% | -51.2% | ||
| Q2 24 | -170.2% | -6.9% | ||
| Q1 24 | -12.1% | -0.4% |
净利率FWRDRIG
| Q4 25 | -4.5% | 2.4% | ||
| Q3 25 | -2.6% | -187.1% | ||
| Q2 25 | -2.0% | -94.9% | ||
| Q1 25 | -8.3% | -8.7% | ||
| Q4 24 | -5.8% | 0.7% | ||
| Q3 24 | -11.2% | -52.1% | ||
| Q2 24 | -100.3% | -14.3% | ||
| Q1 24 | -11.4% | 12.8% |
每股收益（稀释后）FWRDRIG
| Q4 25 | $-0.90 | $0.13 | ||
| Q3 25 | $-0.52 | $-2.00 | ||
| Q2 25 | $-0.41 | $-1.06 | ||
| Q1 25 | $-1.68 | $-0.11 | ||
| Q4 24 | $-1.69 | $-0.14 | ||
| Q3 24 | $-2.66 | $-0.58 | ||
| Q2 24 | $-23.47 | $-0.15 | ||
| Q1 24 | $-2.81 | $0.11 |
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 | $620.0M |
| 总债务越低越好 | $1.7B | $5.2B |
| 股东权益账面价值 | $113.3M | $8.1B |
| 总资产 | $2.7B | $15.6B |
| 负债/权益比越低杠杆越低 | 14.89× | 0.64× |
8季度趋势，按日历期对齐
现金及短期投资FWRDRIG
| Q4 25 | $106.0M | $620.0M | ||
| Q3 25 | $140.4M | $833.0M | ||
| Q2 25 | $95.1M | $377.0M | ||
| Q1 25 | $116.3M | $263.0M | ||
| Q4 24 | $104.9M | $560.0M | ||
| Q3 24 | $136.6M | $435.0M | ||
| Q2 24 | $84.9M | $475.0M | ||
| Q1 24 | $152.0M | $446.0M |
总债务FWRDRIG
| Q4 25 | $1.7B | $5.2B | ||
| Q3 25 | $1.7B | $4.8B | ||
| Q2 25 | — | $5.9B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $6.5B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | $1.7B | $6.8B |
股东权益FWRDRIG
| Q4 25 | $113.3M | $8.1B | ||
| Q3 25 | $139.8M | $8.1B | ||
| Q2 25 | $151.8M | $9.4B | ||
| Q1 25 | $154.6M | $10.2B | ||
| Q4 24 | $201.7M | $10.3B | ||
| Q3 24 | $226.1M | $10.2B | ||
| Q2 24 | $283.8M | $10.7B | ||
| Q1 24 | $926.1M | $10.5B |
总资产FWRDRIG
| Q4 25 | $2.7B | $15.6B | ||
| Q3 25 | $2.8B | $16.2B | ||
| Q2 25 | $2.8B | $17.8B | ||
| Q1 25 | $2.8B | $19.0B | ||
| Q4 24 | $2.8B | $19.4B | ||
| Q3 24 | $3.1B | $19.5B | ||
| Q2 24 | $3.1B | $20.3B | ||
| Q1 24 | $4.0B | $19.9B |
负债/权益比FWRDRIG
| Q4 25 | 14.89× | 0.64× | ||
| Q3 25 | 12.05× | 0.60× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.63× | ||
| Q1 24 | 1.81× | 0.65× |
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 | — | $349.0M |
| 自由现金流经营现金流 - 资本支出 | — | $321.0M |
| 自由现金流率自由现金流/营收 | — | 30.8% |
| 资本支出强度资本支出/营收 | 1.3% | 2.7% |
| 现金转化率经营现金流/净利润 | — | 13.96× |
| 过去12个月自由现金流最近4个季度 | — | $626.0M |
8季度趋势，按日历期对齐
经营现金流FWRDRIG
| Q4 25 | — | $349.0M | ||
| Q3 25 | $52.7M | $246.0M | ||
| Q2 25 | — | $128.0M | ||
| Q1 25 | $27.6M | $26.0M | ||
| Q4 24 | $-23.2M | $206.0M | ||
| Q3 24 | $51.2M | $194.0M | ||
| Q2 24 | $-45.2M | $133.0M | ||
| Q1 24 | $-51.7M | $-86.0M |
自由现金流FWRDRIG
| Q4 25 | — | $321.0M | ||
| Q3 25 | $48.6M | $235.0M | ||
| Q2 25 | — | $104.0M | ||
| Q1 25 | $15.7M | $-34.0M | ||
| Q4 24 | $-30.5M | $177.0M | ||
| Q3 24 | $40.7M | $136.0M | ||
| Q2 24 | $-59.6M | $49.0M | ||
| Q1 24 | $-56.7M | $-169.0M |
自由现金流率FWRDRIG
| Q4 25 | — | 30.8% | ||
| Q3 25 | 7.7% | 22.9% | ||
| Q2 25 | — | 10.5% | ||
| Q1 25 | 2.6% | -3.8% | ||
| Q4 24 | -4.8% | 18.6% | ||
| Q3 24 | 6.2% | 14.3% | ||
| Q2 24 | -9.3% | 5.7% | ||
| Q1 24 | -10.5% | -22.1% |
资本支出强度FWRDRIG
| Q4 25 | 1.3% | 2.7% | ||
| Q3 25 | 0.7% | 1.1% | ||
| Q2 25 | 0.8% | 2.4% | ||
| Q1 25 | 1.9% | 6.6% | ||
| Q4 24 | 1.1% | 3.0% | ||
| Q3 24 | 1.6% | 6.1% | ||
| Q2 24 | 2.2% | 9.8% | ||
| Q1 24 | 0.9% | 10.9% |
现金转化率FWRDRIG
| Q4 25 | — | 13.96× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 29.43× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.88× |
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% |
RIG
| Ultra Deepwater Floaters | $433.0M | 42% |
| BR | $236.0M | 23% |
| Other Geographical | $211.0M | 20% |
| Harsh Environment Floaters | $163.0M | 16% |
