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佳明（GRMN）与GXO Logistics, Inc.（GXO）财务数据对比。点击上方公司名可切换其他公司
GXO Logistics, Inc.的季度营收约是佳明的1.7倍（$3.5B vs $2.1B），佳明净利率更高（24.9% vs 1.2%，领先23.7%），佳明同比增速更快（16.6% vs 7.9%），佳明自由现金流更多（$429.6M vs $115.0M），过去两年佳明的营收复合增速更高（24.0% vs 19.5%）
佳明（Garmin）是总部位于美国堪萨斯州奥拉西的跨国科技企业，专注于设计、研发、生产及销售GPS功能产品，以及导航、通讯、传感类信息产品，业务覆盖汽车、航空、航海、户外、运动健身等多个领域。
GXO物流是总部位于美国康涅狄格州格林威治的全球化合同物流企业，为三十余个国家的蓝筹客户提供外包供应链管理、仓储及逆向物流服务，合作客户涵盖苹果、耐克、波音、惠而浦、雀巢等众多全球知名企业。
GRMN vs GXO — 直观对比
营收规模更大
GXO
是对方的1.7倍
$2.1B
营收增速更快
GRMN
高出8.7%
7.9%
净利率更高
GRMN
高出23.7%
1.2%
自由现金流更多
GRMN
多$314.6M
$115.0M
两年增速更快
GRMN
近两年复合增速
19.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $3.5B |
| 净利润 | $528.7M | $43.0M |
| 毛利率 | 59.2% | — |
| 营业利润率 | 28.9% | 2.7% |
| 净利率 | 24.9% | 1.2% |
| 营收同比 | 16.6% | 7.9% |
| 净利润同比 | 21.3% | -57.0% |
| 每股收益（稀释后） | $2.72 | $0.35 |
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GRMNGXO
| Q4 25 | $2.1B | $3.5B | ||
| Q3 25 | $1.8B | $3.4B | ||
| Q2 25 | $1.8B | $3.3B | ||
| Q1 25 | $1.5B | $3.0B | ||
| Q4 24 | $1.8B | $3.3B | ||
| Q3 24 | $1.6B | $3.2B | ||
| Q2 24 | $1.5B | $2.8B | ||
| Q1 24 | $1.4B | $2.5B |
净利润GRMNGXO
| Q4 25 | $528.7M | $43.0M | ||
| Q3 25 | $401.6M | $59.0M | ||
| Q2 25 | $400.8M | $26.0M | ||
| Q1 25 | $332.8M | $-96.0M | ||
| Q4 24 | $435.7M | $100.0M | ||
| Q3 24 | $399.1M | $33.0M | ||
| Q2 24 | $300.6M | $38.0M | ||
| Q1 24 | $276.0M | $-37.0M |
毛利率GRMNGXO
| Q4 25 | 59.2% | — | ||
| Q3 25 | 59.1% | — | ||
| Q2 25 | 58.8% | — | ||
| Q1 25 | 57.6% | — | ||
| Q4 24 | 59.3% | — | ||
| Q3 24 | 60.0% | — | ||
| Q2 24 | 57.3% | — | ||
| Q1 24 | 58.1% | — |
营业利润率GRMNGXO
| Q4 25 | 28.9% | 2.7% | ||
| Q3 25 | 25.8% | 3.5% | ||
| Q2 25 | 26.0% | 2.7% | ||
| Q1 25 | 21.7% | -1.9% | ||
| Q4 24 | 28.3% | 3.1% | ||
| Q3 24 | 27.6% | 2.6% | ||
| Q2 24 | 22.7% | 2.6% | ||
| Q1 24 | 21.6% | -1.6% |
净利率GRMNGXO
| Q4 25 | 24.9% | 1.2% | ||
| Q3 25 | 22.7% | 1.7% | ||
| Q2 25 | 22.1% | 0.8% | ||
| Q1 25 | 21.7% | -3.2% | ||
| Q4 24 | 23.9% | 3.1% | ||
| Q3 24 | 25.2% | 1.0% | ||
| Q2 24 | 20.0% | 1.3% | ||
| Q1 24 | 20.0% | -1.5% |
每股收益（稀释后）GRMNGXO
| Q4 25 | $2.72 | $0.35 | ||
| Q3 25 | $2.08 | $0.51 | ||
| Q2 25 | $2.07 | $0.23 | ||
| Q1 25 | $1.72 | $-0.81 | ||
| Q4 24 | $2.24 | $0.83 | ||
| Q3 24 | $2.07 | $0.28 | ||
| Q2 24 | $1.56 | $0.32 | ||
| Q1 24 | $1.43 | $-0.31 |
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 | $2.3B | $854.0M |
| 总债务越低越好 | — | $2.6B |
| 股东权益账面价值 | $9.0B | $3.0B |
| 总资产 | $11.0B | $12.3B |
| 负债/权益比越低杠杆越低 | — | 0.88× |
8季度趋势，按日历期对齐
现金及短期投资GRMNGXO
| Q4 25 | $2.3B | $854.0M | ||
| Q3 25 | $2.1B | $339.0M | ||
| Q2 25 | $2.1B | $205.0M | ||
| Q1 25 | $2.2B | $288.0M | ||
| Q4 24 | $2.1B | $413.0M | ||
| Q3 24 | $2.0B | $548.0M | ||
| Q2 24 | $1.9B | $469.0M | ||
| Q1 24 | $1.9B | $423.0M |
总债务GRMNGXO
| Q4 25 | — | $2.6B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.6B | ||
| Q1 25 | — | $2.5B | ||
| Q4 24 | — | $2.5B | ||
| Q3 24 | — | $2.6B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $1.5B |
股东权益GRMNGXO
| Q4 25 | $9.0B | $3.0B | ||
| Q3 25 | $8.5B | $3.0B | ||
| Q2 25 | $8.1B | $2.9B | ||
| Q1 25 | $8.2B | $2.9B | ||
| Q4 24 | $7.8B | $3.0B | ||
| Q3 24 | $7.5B | $3.1B | ||
| Q2 24 | $7.0B | $2.9B | ||
| Q1 24 | $7.2B | $2.9B |
总资产GRMNGXO
| Q4 25 | $11.0B | $12.3B | ||
| Q3 25 | $10.5B | $11.9B | ||
| Q2 25 | $10.3B | $11.9B | ||
| Q1 25 | $9.8B | $11.3B | ||
| Q4 24 | $9.6B | $11.3B | ||
| Q3 24 | $9.3B | $11.9B | ||
| Q2 24 | $8.9B | $11.4B | ||
| Q1 24 | $8.6B | $9.4B |
负债/权益比GRMNGXO
| Q4 25 | — | 0.88× | ||
| Q3 25 | — | 0.74× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.89× | ||
| Q4 24 | — | 0.84× | ||
| Q3 24 | — | 0.82× | ||
| Q2 24 | — | 0.88× | ||
| Q1 24 | — | 0.53× |
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 | $553.8M | $170.0M |
| 自由现金流经营现金流 - 资本支出 | $429.6M | $115.0M |
| 自由现金流率自由现金流/营收 | 20.2% | 3.3% |
| 资本支出强度资本支出/营收 | 5.8% | 1.6% |
| 现金转化率经营现金流/净利润 | 1.05× | 3.95× |
| 过去12个月自由现金流最近4个季度 | $1.4B | $110.0M |
8季度趋势，按日历期对齐
经营现金流GRMNGXO
| Q4 25 | $553.8M | $170.0M | ||
| Q3 25 | $485.6M | $232.0M | ||
| Q2 25 | $173.2M | $3.0M | ||
| Q1 25 | $420.8M | $29.0M | ||
| Q4 24 | $483.9M | $186.0M | ||
| Q3 24 | $258.0M | $198.0M | ||
| Q2 24 | $255.3M | $115.0M | ||
| Q1 24 | $435.3M | $50.0M |
自由现金流GRMNGXO
| Q4 25 | $429.6M | $115.0M | ||
| Q3 25 | $425.1M | $88.0M | ||
| Q2 25 | $127.5M | $-44.0M | ||
| Q1 25 | $380.7M | $-49.0M | ||
| Q4 24 | $399.2M | $82.0M | ||
| Q3 24 | $219.4M | $104.0M | ||
| Q2 24 | $218.2M | $27.0M | ||
| Q1 24 | $402.1M | $-23.0M |
自由现金流率GRMNGXO
| Q4 25 | 20.2% | 3.3% | ||
| Q3 25 | 24.0% | 2.6% | ||
| Q2 25 | 7.0% | -1.3% | ||
| Q1 25 | 24.8% | -1.6% | ||
| Q4 24 | 21.9% | 2.5% | ||
| Q3 24 | 13.8% | 3.3% | ||
| Q2 24 | 14.5% | 0.9% | ||
| Q1 24 | 29.1% | -0.9% |
资本支出强度GRMNGXO
| Q4 25 | 5.8% | 1.6% | ||
| Q3 25 | 3.4% | 4.2% | ||
| Q2 25 | 2.5% | 1.4% | ||
| Q1 25 | 2.6% | 2.6% | ||
| Q4 24 | 4.6% | 3.2% | ||
| Q3 24 | 2.4% | 3.0% | ||
| Q2 24 | 2.5% | 3.1% | ||
| Q1 24 | 2.4% | 3.0% |
现金转化率GRMNGXO
| Q4 25 | 1.05× | 3.95× | ||
| Q3 25 | 1.21× | 3.93× | ||
| Q2 25 | 0.43× | 0.12× | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.11× | 1.86× | ||
| Q3 24 | 0.65× | 6.00× | ||
| Q2 24 | 0.85× | 3.03× | ||
| Q1 24 | 1.58× | — |
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
GRMN
| Fitness Segment | $765.8M | 36% |
| Outdoor Segment | $627.6M | 30% |
| Marine Segment | $296.9M | 14% |
| Aviation Segment | $274.2M | 13% |
| Auto Oem Segment | $160.4M | 8% |
GXO
暂无分部数据
