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FORWARD AIR CORP（FWRD）与BOSTON BEER CO INC（SAM）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BOSTON BEER CO INC的1.6倍（$631.2M vs $385.7M），FORWARD AIR CORP净利率更高（-4.5% vs -5.8%，领先1.4%），FORWARD AIR CORP同比增速更快（-0.3% vs -4.1%），过去两年FORWARD AIR CORP的营收复合增速更高（7.9% vs -4.9%）
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。
波士顿啤酒公司是美国知名酿酒企业，1984年由吉姆·科赫与朗达·卡尔曼联合创立。旗下首款产品以美国开国元勋、独立运动先驱塞缪尔·亚当斯命名，后续陆续推出多个自有品牌，2019年正式完成与角鲨头酿酒厂的合并，是北美精酿啤酒行业的核心参与者之一。
FWRD vs SAM — 直观对比
营收规模更大
FWRD
是对方的1.6倍
$385.7M
营收增速更快
FWRD
高出3.9%
-4.1%
净利率更高
FWRD
高出1.4%
-5.8%
两年增速更快
FWRD
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $385.7M |
| 净利润 | $-28.3M | $-22.5M |
| 毛利率 | — | 43.5% |
| 营业利润率 | -0.5% | -8.6% |
| 净利率 | -4.5% | -5.8% |
| 营收同比 | -0.3% | -4.1% |
| 净利润同比 | 22.2% | 41.9% |
| 每股收益（稀释后） | $-0.90 | $-1.97 |
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FWRDSAM
| Q4 25 | $631.2M | $385.7M | ||
| Q3 25 | $631.8M | $537.5M | ||
| Q2 25 | $618.8M | $587.9M | ||
| Q1 25 | $613.3M | $453.9M | ||
| Q4 24 | $632.8M | $402.3M | ||
| Q3 24 | $655.9M | $605.5M | ||
| Q2 24 | $643.7M | $579.1M | ||
| Q1 24 | $541.8M | $426.1M |
净利润FWRDSAM
| Q4 25 | $-28.3M | $-22.5M | ||
| Q3 25 | $-16.3M | $46.2M | ||
| Q2 25 | $-12.6M | $60.4M | ||
| Q1 25 | $-50.6M | $24.4M | ||
| Q4 24 | $-36.4M | $-38.8M | ||
| Q3 24 | $-73.4M | $33.5M | ||
| Q2 24 | $-645.4M | $52.3M | ||
| Q1 24 | $-61.7M | $12.6M |
毛利率FWRDSAM
| Q4 25 | — | 43.5% | ||
| Q3 25 | — | 50.8% | ||
| Q2 25 | — | 49.8% | ||
| Q1 25 | — | 48.3% | ||
| Q4 24 | — | 39.9% | ||
| Q3 24 | — | 46.3% | ||
| Q2 24 | — | 46.0% | ||
| Q1 24 | — | 43.7% |
营业利润率FWRDSAM
| Q4 25 | -0.5% | -8.6% | ||
| Q3 25 | 2.4% | 11.5% | ||
| Q2 25 | 3.2% | 14.0% | ||
| Q1 25 | 0.8% | 7.4% | ||
| Q4 24 | 12.0% | -13.9% | ||
| Q3 24 | 3.5% | 7.6% | ||
| Q2 24 | -170.2% | 12.2% | ||
| Q1 24 | -12.1% | 3.6% |
净利率FWRDSAM
| Q4 25 | -4.5% | -5.8% | ||
| Q3 25 | -2.6% | 8.6% | ||
| Q2 25 | -2.0% | 10.3% | ||
| Q1 25 | -8.3% | 5.4% | ||
| Q4 24 | -5.8% | -9.6% | ||
| Q3 24 | -11.2% | 5.5% | ||
| Q2 24 | -100.3% | 9.0% | ||
| Q1 24 | -11.4% | 3.0% |
每股收益（稀释后）FWRDSAM
| Q4 25 | $-0.90 | $-1.97 | ||
| Q3 25 | $-0.52 | $4.25 | ||
| Q2 25 | $-0.41 | $5.45 | ||
| Q1 25 | $-1.68 | $2.16 | ||
| Q4 24 | $-1.69 | $-3.23 | ||
| Q3 24 | $-2.66 | $2.86 | ||
| Q2 24 | $-23.47 | $4.39 | ||
| Q1 24 | $-2.81 | $1.04 |
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 | $223.4M |
| 总债务越低越好 | $1.7B | — |
| 股东权益账面价值 | $113.3M | $846.3M |
| 总资产 | $2.7B | $1.2B |
| 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FWRDSAM
| Q4 25 | $106.0M | $223.4M | ||
| Q3 25 | $140.4M | $250.5M | ||
| Q2 25 | $95.1M | $212.4M | ||
| Q1 25 | $116.3M | $152.5M | ||
| Q4 24 | $104.9M | $211.8M | ||
| Q3 24 | $136.6M | $255.6M | ||
| Q2 24 | $84.9M | $219.3M | ||
| Q1 24 | $152.0M | $205.4M |
总债务FWRDSAM
| 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FWRDSAM
| Q4 25 | $113.3M | $846.3M | ||
| Q3 25 | $139.8M | $911.0M | ||
| Q2 25 | $151.8M | $912.3M | ||
| Q1 25 | $154.6M | $897.0M | ||
| Q4 24 | $201.7M | $916.2M | ||
| Q3 24 | $226.1M | $1.0B | ||
| Q2 24 | $283.8M | $1.0B | ||
| Q1 24 | $926.1M | $1.0B |
总资产FWRDSAM
| Q4 25 | $2.7B | $1.2B | ||
| Q3 25 | $2.8B | $1.2B | ||
| Q2 25 | $2.8B | $1.3B | ||
| Q1 25 | $2.8B | $1.2B | ||
| Q4 24 | $2.8B | $1.3B | ||
| Q3 24 | $3.1B | $1.4B | ||
| Q2 24 | $3.1B | $1.4B | ||
| Q1 24 | $4.0B | $1.4B |
负债/权益比FWRDSAM
| 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 | — | $39.9M |
| 自由现金流经营现金流 - 资本支出 | — | $22.1M |
| 自由现金流率自由现金流/营收 | — | 5.7% |
| 资本支出强度资本支出/营收 | 1.3% | 4.6% |
| 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 | — | $215.6M |
8季度趋势，按日历期对齐
经营现金流FWRDSAM
| Q4 25 | — | $39.9M | ||
| Q3 25 | $52.7M | $101.8M | ||
| Q2 25 | — | $126.5M | ||
| Q1 25 | $27.6M | $1.9M | ||
| Q4 24 | $-23.2M | $41.9M | ||
| Q3 24 | $51.2M | $115.9M | ||
| Q2 24 | $-45.2M | $96.0M | ||
| Q1 24 | $-51.7M | $-4.9M |
自由现金流FWRDSAM
| Q4 25 | — | $22.1M | ||
| Q3 25 | $48.6M | $89.2M | ||
| Q2 25 | — | $112.2M | ||
| Q1 25 | $15.7M | $-8.0M | ||
| Q4 24 | $-30.5M | $18.4M | ||
| Q3 24 | $40.7M | $99.2M | ||
| Q2 24 | $-59.6M | $75.6M | ||
| Q1 24 | $-56.7M | $-20.6M |
自由现金流率FWRDSAM
| Q4 25 | — | 5.7% | ||
| Q3 25 | 7.7% | 16.6% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | 2.6% | -1.8% | ||
| Q4 24 | -4.8% | 4.6% | ||
| Q3 24 | 6.2% | 16.4% | ||
| Q2 24 | -9.3% | 13.1% | ||
| Q1 24 | -10.5% | -4.8% |
资本支出强度FWRDSAM
| Q4 25 | 1.3% | 4.6% | ||
| Q3 25 | 0.7% | 2.3% | ||
| Q2 25 | 0.8% | 2.4% | ||
| Q1 25 | 1.9% | 2.2% | ||
| Q4 24 | 1.1% | 5.8% | ||
| Q3 24 | 1.6% | 2.8% | ||
| Q2 24 | 2.2% | 3.5% | ||
| Q1 24 | 0.9% | 3.7% |
现金转化率FWRDSAM
| Q4 25 | — | — | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | — | 2.09× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.46× | ||
| Q2 24 | — | 1.83× | ||
| Q1 24 | — | -0.39× |
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% |
SAM
暂无分部数据
