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FORWARD AIR CORP（FWRD）与Royalty Pharma plc（RPRX）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Royalty Pharma plc的1.0倍（$631.2M vs $622.0M），Royalty Pharma plc净利率更高（34.4% vs -4.5%，领先38.9%），Royalty Pharma plc同比增速更快（4.8% vs -0.3%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs 4.6%）
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。
本公司是总部位于美国马萨诸塞州剑桥市的临床阶段生物制药企业，专注于研发可调节转化生长因子β（TGF-β）超家族蛋白的药物，该类蛋白在红细胞、肌肉、骨骼、血管等细胞与组织的生长修复过程中发挥核心作用。
FWRD vs RPRX — 直观对比
营收规模更大
FWRD
是对方的1.0倍
$622.0M
营收增速更快
RPRX
高出5.0%
-0.3%
净利率更高
RPRX
高出38.9%
-4.5%
两年增速更快
FWRD
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $622.0M |
| 净利润 | $-28.3M | $214.2M |
| 毛利率 | — | — |
| 营业利润率 | -0.5% | 62.4% |
| 净利率 | -4.5% | 34.4% |
| 营收同比 | -0.3% | 4.8% |
| 净利润同比 | 22.2% | 2.9% |
| 每股收益（稀释后） | $-0.90 | $0.49 |
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FWRDRPRX
| Q4 25 | $631.2M | $622.0M | ||
| Q3 25 | $631.8M | $609.3M | ||
| Q2 25 | $618.8M | $578.7M | ||
| Q1 25 | $613.3M | $568.2M | ||
| Q4 24 | $632.8M | $593.6M | ||
| Q3 24 | $655.9M | $564.7M | ||
| Q2 24 | $643.7M | $537.3M | ||
| Q1 24 | $541.8M | $568.0M |
净利润FWRDRPRX
| Q4 25 | $-28.3M | $214.2M | ||
| Q3 25 | $-16.3M | $288.2M | ||
| Q2 25 | $-12.6M | $30.2M | ||
| Q1 25 | $-50.6M | $238.3M | ||
| Q4 24 | $-36.4M | $208.2M | ||
| Q3 24 | $-73.4M | $544.0M | ||
| Q2 24 | $-645.4M | $102.0M | ||
| Q1 24 | $-61.7M | $4.8M |
营业利润率FWRDRPRX
| Q4 25 | -0.5% | 62.4% | ||
| Q3 25 | 2.4% | 70.1% | ||
| Q2 25 | 3.2% | 36.3% | ||
| Q1 25 | 0.8% | 94.0% | ||
| Q4 24 | 12.0% | 60.9% | ||
| Q3 24 | 3.5% | — | ||
| Q2 24 | -170.2% | 50.2% | ||
| Q1 24 | -12.1% | -13.0% |
净利率FWRDRPRX
| Q4 25 | -4.5% | 34.4% | ||
| Q3 25 | -2.6% | 47.3% | ||
| Q2 25 | -2.0% | 5.2% | ||
| Q1 25 | -8.3% | 41.9% | ||
| Q4 24 | -5.8% | 35.1% | ||
| Q3 24 | -11.2% | 96.3% | ||
| Q2 24 | -100.3% | 19.0% | ||
| Q1 24 | -11.4% | 0.8% |
每股收益（稀释后）FWRDRPRX
| Q4 25 | $-0.90 | $0.49 | ||
| Q3 25 | $-0.52 | $0.67 | ||
| Q2 25 | $-0.41 | $0.07 | ||
| Q1 25 | $-1.68 | $0.55 | ||
| Q4 24 | $-1.69 | $0.46 | ||
| Q3 24 | $-2.66 | $1.21 | ||
| Q2 24 | $-23.47 | $0.23 | ||
| 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 | $618.7M |
| 总债务越低越好 | $1.7B | $9.0B |
| 股东权益账面价值 | $113.3M | $9.7B |
| 总资产 | $2.7B | $19.6B |
| 负债/权益比越低杠杆越低 | 14.89× | 0.92× |
8季度趋势，按日历期对齐
现金及短期投资FWRDRPRX
| Q4 25 | $106.0M | $618.7M | ||
| Q3 25 | $140.4M | $938.9M | ||
| Q2 25 | $95.1M | $631.9M | ||
| Q1 25 | $116.3M | $1.1B | ||
| Q4 24 | $104.9M | $929.0M | ||
| Q3 24 | $136.6M | $950.1M | ||
| Q2 24 | $84.9M | $1.8B | ||
| Q1 24 | $152.0M | $843.0M |
总债务FWRDRPRX
| Q4 25 | $1.7B | $9.0B | ||
| Q3 25 | $1.7B | $8.9B | ||
| Q2 25 | — | $8.0B | ||
| Q1 25 | — | $7.6B | ||
| Q4 24 | — | $7.6B | ||
| Q3 24 | — | $7.6B | ||
| Q2 24 | — | $7.6B | ||
| Q1 24 | $1.7B | $6.1B |
股东权益FWRDRPRX
| Q4 25 | $113.3M | $9.7B | ||
| Q3 25 | $139.8M | $9.6B | ||
| Q2 25 | $151.8M | $9.5B | ||
| Q1 25 | $154.6M | $9.8B | ||
| Q4 24 | $201.7M | $10.3B | ||
| Q3 24 | $226.1M | $10.3B | ||
| Q2 24 | $283.8M | $9.8B | ||
| Q1 24 | $926.1M | $9.9B |
总资产FWRDRPRX
| Q4 25 | $2.7B | $19.6B | ||
| Q3 25 | $2.8B | $19.3B | ||
| Q2 25 | $2.8B | $18.3B | ||
| Q1 25 | $2.8B | $17.6B | ||
| Q4 24 | $2.8B | $18.2B | ||
| Q3 24 | $3.1B | $18.0B | ||
| Q2 24 | $3.1B | $17.7B | ||
| Q1 24 | $4.0B | $16.1B |
负债/权益比FWRDRPRX
| Q4 25 | 14.89× | 0.92× | ||
| Q3 25 | 12.05× | 0.93× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | 1.81× | 0.62× |
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 | — | $827.1M |
| 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 | — | 3.86× |
| 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FWRDRPRX
| Q4 25 | — | $827.1M | ||
| Q3 25 | $52.7M | $702.6M | ||
| Q2 25 | — | $364.0M | ||
| Q1 25 | $27.6M | $596.1M | ||
| Q4 24 | $-23.2M | $742.5M | ||
| Q3 24 | $51.2M | $703.6M | ||
| Q2 24 | $-45.2M | $658.2M | ||
| Q1 24 | $-51.7M | $664.6M |
自由现金流FWRDRPRX
| 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FWRDRPRX
| 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FWRDRPRX
| 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FWRDRPRX
| Q4 25 | — | 3.86× | ||
| Q3 25 | — | 2.44× | ||
| Q2 25 | — | 12.06× | ||
| Q1 25 | — | 2.50× | ||
| Q4 24 | — | 3.57× | ||
| Q3 24 | — | 1.29× | ||
| Q2 24 | — | 6.45× | ||
| Q1 24 | — | 139.10× |
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% |
RPRX
| Financial Royalty Assets | $592.4M | 95% |
| Royalty Income Other | $29.6M | 5% |
