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LANDSTAR SYSTEM INC（LSTR）与Old Dominion（ODFL）财务数据对比。点击上方公司名可切换其他公司
Old Dominion的季度营收约是LANDSTAR SYSTEM INC的1.1倍（$1.3B vs $1.2B）。Old Dominion净利率更高（17.6% vs 2.0%，领先15.5%）。LANDSTAR SYSTEM INC同比增速更快（-2.9% vs -5.7%）。Old Dominion自由现金流更多（$264.5M vs $70.5M）。过去两年LANDSTAR SYSTEM INC的营收复合增速更高（0.1% vs -5.4%）
Landstar System Inc.是美国专业运输服务企业，主营第三方物流业务，依托由超8800名独立自营车主、1000余名独立货运代理人、7万余家合规认证承运商组成的庞大网络，服务主要覆盖美国全境，同时提供加拿大境内及美加、美墨跨境物流服务。
Old Dominion Freight Line（简称ODFL）是美国领先的零担货运企业，服务覆盖区域、跨区域及全国范围。除核心零担货运业务外，公司还提供加急运输、综合物流及家庭搬家服务，拥有成熟的运营网络，可满足不同客户的多元运输需求。
LSTR vs ODFL — 直观对比
营收规模更大
ODFL
是对方的1.1倍
$1.2B
营收增速更快
LSTR
高出2.8%
-5.7%
净利率更高
ODFL
高出15.5%
2.0%
自由现金流更多
ODFL
多$194.0M
$70.5M
两年增速更快
LSTR
近两年复合增速
-5.4%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $1.3B |
| 净利润 | $23.9M | $229.5M |
| 毛利率 | — | — |
| 营业利润率 | 2.5% | 23.3% |
| 净利率 | 2.0% | 17.6% |
| 营收同比 | -2.9% | -5.7% |
| 净利润同比 | -48.2% | -12.8% |
| 每股收益（稀释后） | $0.70 | $1.10 |
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LSTRODFL
| Q4 25 | $1.2B | $1.3B | ||
| Q3 25 | $1.2B | $1.4B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $1.2B | $1.4B | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $1.2B | $1.5B | ||
| Q2 24 | $1.2B | $1.5B | ||
| Q1 24 | $1.2B | $1.5B |
净利润LSTRODFL
| Q4 25 | $23.9M | $229.5M | ||
| Q3 25 | $19.4M | $270.9M | ||
| Q2 25 | $41.9M | $268.6M | ||
| Q1 25 | $29.8M | $254.7M | ||
| Q4 24 | $46.2M | $263.1M | ||
| Q3 24 | $50.0M | $308.6M | ||
| Q2 24 | $52.6M | $322.0M | ||
| Q1 24 | $47.1M | $292.3M |
营业利润率LSTRODFL
| Q4 25 | 2.5% | 23.3% | ||
| Q3 25 | 2.2% | 25.7% | ||
| Q2 25 | 4.6% | 25.4% | ||
| Q1 25 | 3.4% | 24.6% | ||
| Q4 24 | 4.8% | 24.1% | ||
| Q3 24 | 5.2% | 27.3% | ||
| Q2 24 | 5.6% | 28.1% | ||
| Q1 24 | 5.1% | 26.5% |
净利率LSTRODFL
| Q4 25 | 2.0% | 17.6% | ||
| Q3 25 | 1.6% | 19.3% | ||
| Q2 25 | 3.5% | 19.1% | ||
| Q1 25 | 2.6% | 18.5% | ||
| Q4 24 | 3.8% | 19.0% | ||
| Q3 24 | 4.1% | 21.0% | ||
| Q2 24 | 4.3% | 21.5% | ||
| Q1 24 | 4.0% | 20.0% |
每股收益（稀释后）LSTRODFL
| Q4 25 | $0.70 | $1.10 | ||
| Q3 25 | $0.56 | $1.28 | ||
| Q2 25 | $1.20 | $1.27 | ||
| Q1 25 | $0.85 | $1.19 | ||
| Q4 24 | $1.30 | $1.23 | ||
| Q3 24 | $1.41 | $1.43 | ||
| Q2 24 | $1.48 | $1.48 | ||
| Q1 24 | $1.32 | $1.34 |
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 | $452.2M | $120.1M |
| 总债务越低越好 | $0 | $20.0M |
| 股东权益账面价值 | $795.7M | $4.3B |
| 总资产 | $1.6B | $5.5B |
| 负债/权益比越低杠杆越低 | 0.00× | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资LSTRODFL
| Q4 25 | $452.2M | $120.1M | ||
| Q3 25 | $434.4M | $46.6M | ||
| Q2 25 | $426.2M | $24.1M | ||
| Q1 25 | $473.4M | $97.2M | ||
| Q4 24 | $566.6M | $108.7M | ||
| Q3 24 | $531.3M | $74.2M | ||
| Q2 24 | $504.0M | $104.6M | ||
| Q1 24 | $530.5M | $581.0M |
总债务LSTRODFL
| Q4 25 | $0 | $20.0M | ||
| Q3 25 | $0 | $65.0M | ||
| Q2 25 | $0 | $150.0M | ||
| Q1 25 | $0 | $40.0M | ||
| Q4 24 | $0 | $40.0M | ||
| Q3 24 | $0 | $40.0M | ||
| Q2 24 | $0 | $40.0M | ||
| Q1 24 | $0 | $60.0M |
股东权益LSTRODFL
| Q4 25 | $795.7M | $4.3B | ||
| Q3 25 | $888.7M | $4.3B | ||
| Q2 25 | $921.8M | $4.2B | ||
| Q1 25 | $930.8M | $4.2B | ||
| Q4 24 | $972.4M | $4.2B | ||
| Q3 24 | $1.0B | $4.2B | ||
| Q2 24 | $1.0B | $4.1B | ||
| Q1 24 | $1.0B | $4.4B |
总资产LSTRODFL
| Q4 25 | $1.6B | $5.5B | ||
| Q3 25 | $1.7B | $5.5B | ||
| Q2 25 | $1.7B | $5.6B | ||
| Q1 25 | $1.7B | $5.5B | ||
| Q4 24 | $1.8B | $5.5B | ||
| Q3 24 | $1.8B | $5.4B | ||
| Q2 24 | $1.8B | $5.3B | ||
| Q1 24 | $1.7B | $5.7B |
负债/权益比LSTRODFL
| Q4 25 | 0.00× | 0.00× | ||
| Q3 25 | 0.00× | 0.02× | ||
| Q2 25 | 0.00× | 0.04× | ||
| Q1 25 | 0.00× | 0.01× | ||
| Q4 24 | 0.00× | 0.01× | ||
| Q3 24 | 0.00× | 0.01× | ||
| Q2 24 | 0.00× | 0.01× | ||
| Q1 24 | 0.00× | 0.01× |
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 | $72.7M | $310.3M |
| 自由现金流经营现金流 - 资本支出 | $70.5M | $264.5M |
| 自由现金流率自由现金流/营收 | 6.0% | 20.2% |
| 资本支出强度资本支出/营收 | 0.2% | 3.5% |
| 现金转化率经营现金流/净利润 | 3.04× | 1.35× |
| 过去12个月自由现金流最近4个季度 | $215.0M | $955.1M |
8季度趋势，按日历期对齐
经营现金流LSTRODFL
| Q4 25 | $72.7M | $310.3M | ||
| Q3 25 | $89.3M | $437.5M | ||
| Q2 25 | $7.1M | $285.8M | ||
| Q1 25 | $55.7M | $336.5M | ||
| Q4 24 | $61.1M | $401.1M | ||
| Q3 24 | $83.1M | $446.5M | ||
| Q2 24 | $48.1M | $387.9M | ||
| Q1 24 | $94.2M | $423.9M |
自由现金流LSTRODFL
| Q4 25 | $70.5M | $264.5M | ||
| Q3 25 | $86.0M | $343.5M | ||
| Q2 25 | $4.7M | $98.7M | ||
| Q1 25 | $53.8M | $248.4M | ||
| Q4 24 | $54.4M | $230.1M | ||
| Q3 24 | $75.6M | $203.7M | ||
| Q2 24 | $40.6M | $149.7M | ||
| Q1 24 | $84.9M | $304.4M |
自由现金流率LSTRODFL
| Q4 25 | 6.0% | 20.2% | ||
| Q3 25 | 7.1% | 24.4% | ||
| Q2 25 | 0.4% | 7.0% | ||
| Q1 25 | 4.7% | 18.1% | ||
| Q4 24 | 4.5% | 16.6% | ||
| Q3 24 | 6.2% | 13.9% | ||
| Q2 24 | 3.3% | 10.0% | ||
| Q1 24 | 7.3% | 20.8% |
资本支出强度LSTRODFL
| Q4 25 | 0.2% | 3.5% | ||
| Q3 25 | 0.3% | 6.7% | ||
| Q2 25 | 0.2% | 13.3% | ||
| Q1 25 | 0.2% | 6.4% | ||
| Q4 24 | 0.6% | 12.3% | ||
| Q3 24 | 0.6% | 16.5% | ||
| Q2 24 | 0.6% | 15.9% | ||
| Q1 24 | 0.8% | 8.2% |
现金转化率LSTRODFL
| Q4 25 | 3.04× | 1.35× | ||
| Q3 25 | 4.61× | 1.61× | ||
| Q2 25 | 0.17× | 1.06× | ||
| Q1 25 | 1.87× | 1.32× | ||
| Q4 24 | 1.32× | 1.52× | ||
| Q3 24 | 1.66× | 1.45× | ||
| Q2 24 | 0.91× | 1.20× | ||
| Q1 24 | 2.00× | 1.45× |
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
LSTR
| Transportation Logistics | $1.2B | 99% |
| Insurance | $14.6M | 1% |
ODFL
| LTL Service Revenue | $1.3B | 99% |
| Other Service Revenue | $11.4M | 1% |
