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佳明（GRMN）与Knight-Swift Transportation Holdings Inc.（KNX）财务数据对比。点击上方公司名可切换其他公司
佳明的季度营收约是Knight-Swift Transportation Holdings Inc.的1.1倍（$2.1B vs $1.9B），佳明净利率更高（24.9% vs 0.0%，领先24.9%），佳明同比增速更快（16.6% vs 1.4%），佳明自由现金流更多（$429.6M vs $56.9M），过去两年佳明的营收复合增速更高（24.0% vs 0.1%）
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。
Knight-Swift是美国知名整车公路货运服务商，总部位于亚利桑那州菲尼克斯。该集团由同在菲尼克斯的Swift运输与Knight运输于2017年合并成立，旗下货运网络覆盖北美主要区域，为各行业客户提供专业可靠的整车物流运输服务。
GRMN vs KNX — 直观对比
营收规模更大
GRMN
是对方的1.1倍
$1.9B
营收增速更快
GRMN
高出15.2%
1.4%
净利率更高
GRMN
高出24.9%
0.0%
自由现金流更多
GRMN
多$372.7M
$56.9M
两年增速更快
GRMN
近两年复合增速
0.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $2.1B | $1.9B |
| 净利润 | $528.7M | $96.0K |
| 毛利率 | 59.2% | — |
| 营业利润率 | 28.9% | 1.5% |
| 净利率 | 24.9% | 0.0% |
| 营收同比 | 16.6% | 1.4% |
| 净利润同比 | 21.3% | -76.6% |
| 每股收益（稀释后） | $2.72 | $-0.01 |
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GRMNKNX
| Q1 26 | — | $1.9B | ||
| Q4 25 | $2.1B | $1.9B | ||
| Q3 25 | $1.8B | $1.9B | ||
| Q2 25 | $1.8B | $1.9B | ||
| Q1 25 | $1.5B | $1.8B | ||
| Q4 24 | $1.8B | $1.9B | ||
| Q3 24 | $1.6B | $1.9B | ||
| Q2 24 | $1.5B | $1.8B |
净利润GRMNKNX
| Q1 26 | — | $96.0K | ||
| Q4 25 | $528.7M | $-6.8M | ||
| Q3 25 | $401.6M | $7.9M | ||
| Q2 25 | $400.8M | $34.2M | ||
| Q1 25 | $332.8M | $30.6M | ||
| Q4 24 | $435.7M | $69.5M | ||
| Q3 24 | $399.1M | $30.5M | ||
| Q2 24 | $300.6M | $20.3M |
毛利率GRMNKNX
| Q1 26 | — | — | ||
| 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% | — |
营业利润率GRMNKNX
| Q1 26 | — | 1.5% | ||
| Q4 25 | 28.9% | 1.4% | ||
| Q3 25 | 25.8% | 2.6% | ||
| Q2 25 | 26.0% | 3.9% | ||
| Q1 25 | 21.7% | 3.7% | ||
| Q4 24 | 28.3% | 4.2% | ||
| Q3 24 | 27.6% | 4.3% | ||
| Q2 24 | 22.7% | 3.4% |
净利率GRMNKNX
| Q1 26 | — | 0.0% | ||
| Q4 25 | 24.9% | -0.4% | ||
| Q3 25 | 22.7% | 0.4% | ||
| Q2 25 | 22.1% | 1.8% | ||
| Q1 25 | 21.7% | 1.7% | ||
| Q4 24 | 23.9% | 3.7% | ||
| Q3 24 | 25.2% | 1.6% | ||
| Q2 24 | 20.0% | 1.1% |
每股收益（稀释后）GRMNKNX
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $2.72 | $-0.04 | ||
| Q3 25 | $2.08 | $0.05 | ||
| Q2 25 | $2.07 | $0.21 | ||
| Q1 25 | $1.72 | $0.19 | ||
| Q4 24 | $2.24 | $0.43 | ||
| Q3 24 | $2.07 | $0.19 | ||
| Q2 24 | $1.56 | $0.13 |
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 | $222.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $9.0B | $7.1B |
| 总资产 | $11.0B | $11.9B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资GRMNKNX
| Q1 26 | — | $222.8M | ||
| Q4 25 | $2.3B | $220.4M | ||
| Q3 25 | $2.1B | $192.7M | ||
| Q2 25 | $2.1B | $216.3M | ||
| Q1 25 | $2.2B | $209.5M | ||
| Q4 24 | $2.1B | $218.3M | ||
| Q3 24 | $2.0B | $166.3M | ||
| Q2 24 | $1.9B | $186.5M |
总债务GRMNKNX
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.9B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | — | $1.6B |
股东权益GRMNKNX
| Q1 26 | — | $7.1B | ||
| Q4 25 | $9.0B | $7.1B | ||
| Q3 25 | $8.5B | $7.1B | ||
| Q2 25 | $8.1B | $7.1B | ||
| Q1 25 | $8.2B | $7.1B | ||
| Q4 24 | $7.8B | $7.1B | ||
| Q3 24 | $7.5B | $7.1B | ||
| Q2 24 | $7.0B | $7.1B |
总资产GRMNKNX
| Q1 26 | — | $11.9B | ||
| Q4 25 | $11.0B | $12.0B | ||
| Q3 25 | $10.5B | $12.6B | ||
| Q2 25 | $10.3B | $12.5B | ||
| Q1 25 | $9.8B | $12.6B | ||
| Q4 24 | $9.6B | $12.7B | ||
| Q3 24 | $9.3B | $12.8B | ||
| Q2 24 | $8.9B | $12.6B |
负债/权益比GRMNKNX
| Q1 26 | — | — | ||
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.23× |
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 | $142.5M |
| 自由现金流经营现金流 - 资本支出 | $429.6M | $56.9M |
| 自由现金流率自由现金流/营收 | 20.2% | 3.1% |
| 资本支出强度资本支出/营收 | 5.8% | 4.6% |
| 现金转化率经营现金流/净利润 | 1.05× | 1484.79× |
| 过去12个月自由现金流最近4个季度 | $1.4B | — |
8季度趋势，按日历期对齐
经营现金流GRMNKNX
| Q1 26 | — | $142.5M | ||
| Q4 25 | $553.8M | $723.2M | ||
| Q3 25 | $485.6M | $217.5M | ||
| Q2 25 | $173.2M | $216.5M | ||
| Q1 25 | $420.8M | $109.4M | ||
| Q4 24 | $483.9M | $274.3M | ||
| Q3 24 | $258.0M | $214.0M | ||
| Q2 24 | $255.3M | $273.4M |
自由现金流GRMNKNX
| Q1 26 | — | $56.9M | ||
| Q4 25 | $429.6M | — | ||
| Q3 25 | $425.1M | — | ||
| Q2 25 | $127.5M | — | ||
| Q1 25 | $380.7M | — | ||
| Q4 24 | $399.2M | — | ||
| Q3 24 | $219.4M | — | ||
| Q2 24 | $218.2M | — |
自由现金流率GRMNKNX
| Q1 26 | — | 3.1% | ||
| Q4 25 | 20.2% | — | ||
| Q3 25 | 24.0% | — | ||
| Q2 25 | 7.0% | — | ||
| Q1 25 | 24.8% | — | ||
| Q4 24 | 21.9% | — | ||
| Q3 24 | 13.8% | — | ||
| Q2 24 | 14.5% | — |
资本支出强度GRMNKNX
| Q1 26 | — | 4.6% | ||
| Q4 25 | 5.8% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | 4.6% | — | ||
| Q3 24 | 2.4% | — | ||
| Q2 24 | 2.5% | — |
现金转化率GRMNKNX
| Q1 26 | — | 1484.79× | ||
| Q4 25 | 1.05× | — | ||
| Q3 25 | 1.21× | 27.67× | ||
| Q2 25 | 0.43× | 6.32× | ||
| Q1 25 | 1.26× | 3.57× | ||
| Q4 24 | 1.11× | 3.95× | ||
| Q3 24 | 0.65× | 7.03× | ||
| Q2 24 | 0.85× | 13.47× |
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% |
KNX
| Revenue, excluding truckload and LTL fuel surcharge | $1.6B | 89% |
| Truckload and LTL fuel surcharge | $212.2M | 11% |
