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FORWARD AIR CORP（FWRD）与Rackspace Technology, Inc.（RXT）财务数据对比。点击上方公司名可切换其他公司
Rackspace Technology, Inc.的季度营收约是FORWARD AIR CORP的1.1倍（$682.8M vs $631.2M），FORWARD AIR CORP净利率更高（-4.5% vs -4.8%，领先0.3%），FORWARD AIR CORP同比增速更快（-0.3% vs -0.4%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs -0.6%）
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。
Rackspace Technology, Inc.是总部位于美国得克萨斯州圣安东尼奥的云计算企业，在弗吉尼亚州雷斯顿以及澳大利亚、加拿大、英国、印度、迪拜、瑞士、荷兰、德国、新加坡、墨西哥、中国香港等多个国家和地区设有办事处，数据中心分布于全球多个主要城市，为客户提供专业的云计算相关服务。
FWRD vs RXT — 直观对比
营收规模更大
RXT
是对方的1.1倍
$631.2M
营收增速更快
FWRD
高出0.2%
-0.4%
净利率更高
FWRD
高出0.3%
-4.8%
两年增速更快
FWRD
近两年复合增速
-0.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $682.8M |
| 净利润 | $-28.3M | $-32.7M |
| 毛利率 | — | 17.6% |
| 营业利润率 | -0.5% | -0.5% |
| 净利率 | -4.5% | -4.8% |
| 营收同比 | -0.3% | -0.4% |
| 净利润同比 | 22.2% | 41.6% |
| 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FWRDRXT
| Q4 25 | $631.2M | $682.8M | ||
| Q3 25 | $631.8M | $671.2M | ||
| Q2 25 | $618.8M | $666.3M | ||
| Q1 25 | $613.3M | $665.4M | ||
| Q4 24 | $632.8M | $685.6M | ||
| Q3 24 | $655.9M | $675.8M | ||
| Q2 24 | $643.7M | $684.9M | ||
| Q1 24 | $541.8M | $690.8M |
净利润FWRDRXT
| Q4 25 | $-28.3M | $-32.7M | ||
| Q3 25 | $-16.3M | $-67.1M | ||
| Q2 25 | $-12.6M | $-54.5M | ||
| Q1 25 | $-50.6M | $-71.5M | ||
| Q4 24 | $-36.4M | $-56.0M | ||
| Q3 24 | $-73.4M | $-186.6M | ||
| Q2 24 | $-645.4M | $25.0M | ||
| Q1 24 | $-61.7M | $-640.6M |
毛利率FWRDRXT
| Q4 25 | — | 17.6% | ||
| Q3 25 | — | 19.4% | ||
| Q2 25 | — | 19.4% | ||
| Q1 25 | — | 19.1% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | — | 20.3% | ||
| Q2 24 | — | 19.2% | ||
| Q1 24 | — | 19.2% |
营业利润率FWRDRXT
| Q4 25 | -0.5% | -0.5% | ||
| Q3 25 | 2.4% | -5.1% | ||
| Q2 25 | 3.2% | -3.8% | ||
| Q1 25 | 0.8% | -5.8% | ||
| Q4 24 | 12.0% | -4.2% | ||
| Q3 24 | 3.5% | -25.7% | ||
| Q2 24 | -170.2% | -7.9% | ||
| Q1 24 | -12.1% | -94.5% |
净利率FWRDRXT
| Q4 25 | -4.5% | -4.8% | ||
| Q3 25 | -2.6% | -10.0% | ||
| Q2 25 | -2.0% | -8.2% | ||
| Q1 25 | -8.3% | -10.7% | ||
| Q4 24 | -5.8% | -8.2% | ||
| Q3 24 | -11.2% | -27.6% | ||
| Q2 24 | -100.3% | 3.7% | ||
| Q1 24 | -11.4% | -92.7% |
每股收益（稀释后）FWRDRXT
| Q4 25 | $-0.90 | $-0.13 | ||
| Q3 25 | $-0.52 | $-0.28 | ||
| Q2 25 | $-0.41 | $-0.23 | ||
| Q1 25 | $-1.68 | $-0.31 | ||
| Q4 24 | $-1.69 | $-0.20 | ||
| Q3 24 | $-2.66 | $-0.82 | ||
| Q2 24 | $-23.47 | $0.11 | ||
| Q1 24 | $-2.81 | $-2.91 |
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 | $105.8M |
| 总债务越低越好 | $1.7B | $2.7B |
| 股东权益账面价值 | $113.3M | $-1.2B |
| 总资产 | $2.7B | $2.8B |
| 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FWRDRXT
| Q4 25 | $106.0M | $105.8M | ||
| Q3 25 | $140.4M | $99.5M | ||
| Q2 25 | $95.1M | $103.9M | ||
| Q1 25 | $116.3M | $128.0M | ||
| Q4 24 | $104.9M | $144.0M | ||
| Q3 24 | $136.6M | $157.1M | ||
| Q2 24 | $84.9M | $190.2M | ||
| Q1 24 | $152.0M | $282.6M |
总债务FWRDRXT
| Q4 25 | $1.7B | $2.7B | ||
| Q3 25 | $1.7B | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.8B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.9B | ||
| Q1 24 | $1.7B | $3.0B |
股东权益FWRDRXT
| Q4 25 | $113.3M | $-1.2B | ||
| Q3 25 | $139.8M | $-1.2B | ||
| Q2 25 | $151.8M | $-1.1B | ||
| Q1 25 | $154.6M | $-1.1B | ||
| Q4 24 | $201.7M | $-1.0B | ||
| Q3 24 | $226.1M | $-949.7M | ||
| Q2 24 | $283.8M | $-756.2M | ||
| Q1 24 | $926.1M | $-787.2M |
总资产FWRDRXT
| Q4 25 | $2.7B | $2.8B | ||
| Q3 25 | $2.8B | $2.8B | ||
| Q2 25 | $2.8B | $2.9B | ||
| Q1 25 | $2.8B | $3.0B | ||
| Q4 24 | $2.8B | $3.1B | ||
| Q3 24 | $3.1B | $3.1B | ||
| Q2 24 | $3.1B | $3.4B | ||
| Q1 24 | $4.0B | $3.5B |
负债/权益比FWRDRXT
| 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 | — | $59.7M |
| 自由现金流经营现金流 - 资本支出 | — | $56.0M |
| 自由现金流率自由现金流/营收 | — | 8.2% |
| 资本支出强度资本支出/营收 | 1.3% | 0.5% |
| 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 | — | $90.6M |
8季度趋势，按日历期对齐
经营现金流FWRDRXT
| Q4 25 | — | $59.7M | ||
| Q3 25 | $52.7M | $70.7M | ||
| Q2 25 | — | $8.4M | ||
| Q1 25 | $27.6M | $12.6M | ||
| Q4 24 | $-23.2M | $54.3M | ||
| Q3 24 | $51.2M | $51.8M | ||
| Q2 24 | $-45.2M | $24.1M | ||
| Q1 24 | $-51.7M | $-90.3M |
自由现金流FWRDRXT
| Q4 25 | — | $56.0M | ||
| Q3 25 | $48.6M | $42.7M | ||
| Q2 25 | — | $-12.4M | ||
| Q1 25 | $15.7M | $4.3M | ||
| Q4 24 | $-30.5M | $34.4M | ||
| Q3 24 | $40.7M | $27.3M | ||
| Q2 24 | $-59.6M | $-14.5M | ||
| Q1 24 | $-56.7M | $-118.4M |
自由现金流率FWRDRXT
| Q4 25 | — | 8.2% | ||
| Q3 25 | 7.7% | 6.4% | ||
| Q2 25 | — | -1.9% | ||
| Q1 25 | 2.6% | 0.6% | ||
| Q4 24 | -4.8% | 5.0% | ||
| Q3 24 | 6.2% | 4.0% | ||
| Q2 24 | -9.3% | -2.1% | ||
| Q1 24 | -10.5% | -17.1% |
资本支出强度FWRDRXT
| Q4 25 | 1.3% | 0.5% | ||
| Q3 25 | 0.7% | 4.2% | ||
| Q2 25 | 0.8% | 3.1% | ||
| Q1 25 | 1.9% | 1.2% | ||
| Q4 24 | 1.1% | 2.9% | ||
| Q3 24 | 1.6% | 3.6% | ||
| Q2 24 | 2.2% | 5.6% | ||
| Q1 24 | 0.9% | 4.1% |
现金转化率FWRDRXT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | — |
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% |
RXT
| Public Cloud Services Segment | $442.2M | 65% |
| Private Cloud Service Segment | $240.6M | 35% |
