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FORWARD AIR CORP（FWRD）与Talen Energy Corp（TLN）财务数据对比。点击上方公司名可切换其他公司
Talen Energy Corp的季度营收约是FORWARD AIR CORP的1.2倍（$758.0M vs $631.2M），FORWARD AIR CORP净利率更高（-4.5% vs -47.9%，领先43.4%），Talen Energy Corp同比增速更快（114.7% vs -0.3%），过去两年Talen Energy Corp的营收复合增速更高（35.0% 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。
PPL公司是总部位于美国宾夕法尼亚州东部利哈伊谷阿伦敦的能源企业，于纽约证券交易所上市（股票代码：PPL），属标普500指数成分股。截至2022年，公司营收79亿美元，总资产超370亿美元，拥有6500名员工，服务360万客户。
FWRD vs TLN — 直观对比
营收规模更大
TLN
是对方的1.2倍
$631.2M
营收增速更快
TLN
高出115.0%
-0.3%
净利率更高
FWRD
高出43.4%
-47.9%
两年增速更快
TLN
近两年复合增速
7.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $631.2M | $758.0M |
| 净利润 | $-28.3M | $-363.0M |
| 毛利率 | — | — |
| 营业利润率 | -0.5% | -41.3% |
| 净利率 | -4.5% | -47.9% |
| 营收同比 | -0.3% | 114.7% |
| 净利润同比 | 22.2% | -542.7% |
| 每股收益（稀释后） | $-0.90 | $-7.60 |
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FWRDTLN
| Q4 25 | $631.2M | $758.0M | ||
| Q3 25 | $631.8M | $697.0M | ||
| Q2 25 | $618.8M | $409.0M | ||
| Q1 25 | $613.3M | $654.0M | ||
| Q4 24 | $632.8M | $353.0M | ||
| Q3 24 | $655.9M | $459.0M | ||
| Q2 24 | $643.7M | $346.0M | ||
| Q1 24 | $541.8M | $416.0M |
净利润FWRDTLN
| Q4 25 | $-28.3M | $-363.0M | ||
| Q3 25 | $-16.3M | $207.0M | ||
| Q2 25 | $-12.6M | $72.0M | ||
| Q1 25 | $-50.6M | $-135.0M | ||
| Q4 24 | $-36.4M | $82.0M | ||
| Q3 24 | $-73.4M | $168.0M | ||
| Q2 24 | $-645.4M | $454.0M | ||
| Q1 24 | $-61.7M | $294.0M |
营业利润率FWRDTLN
| Q4 25 | -0.5% | -41.3% | ||
| Q3 25 | 2.4% | 37.7% | ||
| Q2 25 | 3.2% | 16.1% | ||
| Q1 25 | 0.8% | -16.2% | ||
| Q4 24 | 12.0% | 4.5% | ||
| Q3 24 | 3.5% | 34.4% | ||
| Q2 24 | -170.2% | 7.8% | ||
| Q1 24 | -12.1% | 6.0% |
净利率FWRDTLN
| Q4 25 | -4.5% | -47.9% | ||
| Q3 25 | -2.6% | 29.7% | ||
| Q2 25 | -2.0% | 17.6% | ||
| Q1 25 | -8.3% | -20.6% | ||
| Q4 24 | -5.8% | 23.2% | ||
| Q3 24 | -11.2% | 36.6% | ||
| Q2 24 | -100.3% | 131.2% | ||
| Q1 24 | -11.4% | 70.7% |
每股收益（稀释后）FWRDTLN
| Q4 25 | $-0.90 | $-7.60 | ||
| Q3 25 | $-0.52 | $4.25 | ||
| Q2 25 | $-0.41 | $1.50 | ||
| Q1 25 | $-1.68 | $-2.94 | ||
| Q4 24 | $-1.69 | $2.07 | ||
| Q3 24 | $-2.66 | $3.16 | ||
| Q2 24 | $-23.47 | $7.60 | ||
| Q1 24 | $-2.81 | $4.84 |
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 | $689.0M |
| 总债务越低越好 | $1.7B | $6.8B |
| 股东权益账面价值 | $113.3M | $1.1B |
| 总资产 | $2.7B | $10.9B |
| 负债/权益比越低杠杆越低 | 14.89× | 6.23× |
8季度趋势，按日历期对齐
现金及短期投资FWRDTLN
| Q4 25 | $106.0M | $689.0M | ||
| Q3 25 | $140.4M | $497.0M | ||
| Q2 25 | $95.1M | $122.0M | ||
| Q1 25 | $116.3M | $295.0M | ||
| Q4 24 | $104.9M | $328.0M | ||
| Q3 24 | $136.6M | $648.0M | ||
| Q2 24 | $84.9M | $632.0M | ||
| Q1 24 | $152.0M | — |
总债务FWRDTLN
| Q4 25 | $1.7B | $6.8B | ||
| Q3 25 | $1.7B | $3.0B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $3.0B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | $1.7B | — |
股东权益FWRDTLN
| Q4 25 | $113.3M | $1.1B | ||
| Q3 25 | $139.8M | $1.5B | ||
| Q2 25 | $151.8M | $1.2B | ||
| Q1 25 | $154.6M | $1.2B | ||
| Q4 24 | $201.7M | $1.4B | ||
| Q3 24 | $226.1M | $2.4B | ||
| Q2 24 | $283.8M | $2.5B | ||
| Q1 24 | $926.1M | $2.8B |
总资产FWRDTLN
| Q4 25 | $2.7B | $10.9B | ||
| Q3 25 | $2.8B | $6.1B | ||
| Q2 25 | $2.8B | $5.8B | ||
| Q1 25 | $2.8B | $5.9B | ||
| Q4 24 | $2.8B | $6.1B | ||
| Q3 24 | $3.1B | $6.8B | ||
| Q2 24 | $3.1B | $7.1B | ||
| Q1 24 | $4.0B | — |
负债/权益比FWRDTLN
| Q4 25 | 14.89× | 6.23× | ||
| Q3 25 | 12.05× | 2.03× | ||
| Q2 25 | — | 2.40× | ||
| Q1 25 | — | 2.54× | ||
| Q4 24 | — | 2.17× | ||
| Q3 24 | — | 1.10× | ||
| Q2 24 | — | 1.05× | ||
| 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 | — | $280.0M |
| 自由现金流经营现金流 - 资本支出 | — | $254.0M |
| 自由现金流率自由现金流/营收 | — | 33.5% |
| 资本支出强度资本支出/营收 | 1.3% | 3.4% |
| 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 | — | $606.0M |
8季度趋势，按日历期对齐
经营现金流FWRDTLN
| Q4 25 | — | $280.0M | ||
| Q3 25 | $52.7M | $489.0M | ||
| Q2 25 | — | $-184.0M | ||
| Q1 25 | $27.6M | $119.0M | ||
| Q4 24 | $-23.2M | — | ||
| Q3 24 | $51.2M | $96.0M | ||
| Q2 24 | $-45.2M | $-23.0M | ||
| Q1 24 | $-51.7M | $173.0M |
自由现金流FWRDTLN
| Q4 25 | — | $254.0M | ||
| Q3 25 | $48.6M | $468.0M | ||
| Q2 25 | — | $-217.0M | ||
| Q1 25 | $15.7M | $101.0M | ||
| Q4 24 | $-30.5M | — | ||
| Q3 24 | $40.7M | $83.0M | ||
| Q2 24 | $-59.6M | $-43.0M | ||
| Q1 24 | $-56.7M | $148.0M |
自由现金流率FWRDTLN
| Q4 25 | — | 33.5% | ||
| Q3 25 | 7.7% | 67.1% | ||
| Q2 25 | — | -53.1% | ||
| Q1 25 | 2.6% | 15.4% | ||
| Q4 24 | -4.8% | — | ||
| Q3 24 | 6.2% | 18.1% | ||
| Q2 24 | -9.3% | -12.4% | ||
| Q1 24 | -10.5% | 35.6% |
资本支出强度FWRDTLN
| Q4 25 | 1.3% | 3.4% | ||
| Q3 25 | 0.7% | 3.0% | ||
| Q2 25 | 0.8% | 8.1% | ||
| Q1 25 | 1.9% | 2.8% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.6% | 2.8% | ||
| Q2 24 | 2.2% | 5.8% | ||
| Q1 24 | 0.9% | 6.0% |
现金转化率FWRDTLN
| Q4 25 | — | — | ||
| Q3 25 | — | 2.36× | ||
| Q2 25 | — | -2.56× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | — | -0.05× | ||
| Q1 24 | — | 0.59× |
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% |
TLN
| Electricity Sales And Ancillary Services | $555.0M | 73% |
| Operating Revenue Capacity | $182.0M | 24% |
| Physical Electricity Sales Bilateral Contracts Other | $21.0M | 3% |
