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LANDSTAR SYSTEM INC（LSTR）与PAMT CORP（PAMT）财务数据对比。点击上方公司名可切换其他公司
LANDSTAR SYSTEM INC的季度营收约是PAMT CORP的8.3倍（$1.2B vs $141.3M）。LANDSTAR SYSTEM INC净利率更高（2.0% vs -20.7%，领先22.7%）。LANDSTAR SYSTEM INC同比增速更快（-2.9% vs -15.1%）。LANDSTAR SYSTEM INC自由现金流更多（$70.5M vs $-25.0M）。过去两年LANDSTAR SYSTEM INC的营收复合增速更高（0.1% vs -12.0%）
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。
LSTR vs PAMT — 直观对比
营收规模更大
LSTR
是对方的8.3倍
$141.3M
营收增速更快
LSTR
高出12.3%
-15.1%
净利率更高
LSTR
高出22.7%
-20.7%
自由现金流更多
LSTR
多$95.5M
$-25.0M
两年增速更快
LSTR
近两年复合增速
-12.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $141.3M |
| 净利润 | $23.9M | $-29.3M |
| 毛利率 | — | — |
| 营业利润率 | 2.5% | -27.0% |
| 净利率 | 2.0% | -20.7% |
| 营收同比 | -2.9% | -15.1% |
| 净利润同比 | -48.2% | 7.4% |
| 每股收益（稀释后） | $0.70 | $-1.38 |
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LSTRPAMT
| Q4 25 | $1.2B | $141.3M | ||
| Q3 25 | $1.2B | $150.3M | ||
| Q2 25 | $1.2B | $151.1M | ||
| Q1 25 | $1.2B | $155.3M | ||
| Q4 24 | $1.2B | $166.5M | ||
| Q3 24 | $1.2B | $182.6M | ||
| Q2 24 | $1.2B | $182.9M | ||
| Q1 24 | $1.2B | $182.6M |
净利润LSTRPAMT
| Q4 25 | $23.9M | $-29.3M | ||
| Q3 25 | $19.4M | $-5.6M | ||
| Q2 25 | $41.9M | $-9.6M | ||
| Q1 25 | $29.8M | $-8.1M | ||
| Q4 24 | $46.2M | $-31.6M | ||
| Q3 24 | $50.0M | $2.4M | ||
| Q2 24 | $52.6M | $-2.9M | ||
| Q1 24 | $47.1M | $281.0K |
营业利润率LSTRPAMT
| Q4 25 | 2.5% | -27.0% | ||
| Q3 25 | 2.2% | -3.8% | ||
| Q2 25 | 4.6% | -7.3% | ||
| Q1 25 | 3.4% | -5.9% | ||
| Q4 24 | 4.8% | -22.6% | ||
| Q3 24 | 5.2% | 1.3% | ||
| Q2 24 | 5.6% | -0.4% | ||
| Q1 24 | 5.1% | -0.4% |
净利率LSTRPAMT
| Q4 25 | 2.0% | -20.7% | ||
| Q3 25 | 1.6% | -3.7% | ||
| Q2 25 | 3.5% | -6.4% | ||
| Q1 25 | 2.6% | -5.2% | ||
| Q4 24 | 3.8% | -19.0% | ||
| Q3 24 | 4.1% | 1.3% | ||
| Q2 24 | 4.3% | -1.6% | ||
| Q1 24 | 4.0% | 0.2% |
每股收益（稀释后）LSTRPAMT
| Q4 25 | $0.70 | $-1.38 | ||
| Q3 25 | $0.56 | $-0.27 | ||
| Q2 25 | $1.20 | $-0.46 | ||
| Q1 25 | $0.85 | $-0.37 | ||
| Q4 24 | $1.30 | $-1.44 | ||
| Q3 24 | $1.41 | $0.11 | ||
| Q2 24 | $1.48 | $-0.13 | ||
| Q1 24 | $1.32 | $0.01 |
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 | $83.7M |
| 总债务越低越好 | $0 | $333.9M |
| 股东权益账面价值 | $795.7M | $210.5M |
| 总资产 | $1.6B | $697.9M |
| 负债/权益比越低杠杆越低 | 0.00× | 1.59× |
8季度趋势，按日历期对齐
现金及短期投资LSTRPAMT
| Q4 25 | $452.2M | $83.7M | ||
| Q3 25 | $434.4M | $115.6M | ||
| Q2 25 | $426.2M | $117.3M | ||
| Q1 25 | $473.4M | $102.7M | ||
| Q4 24 | $566.6M | $110.7M | ||
| Q3 24 | $531.3M | $92.3M | ||
| Q2 24 | $504.0M | $114.0M | ||
| Q1 24 | $530.5M | $125.8M |
总债务LSTRPAMT
| Q4 25 | $0 | $333.9M | ||
| Q3 25 | $0 | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | $0 | — | ||
| Q4 24 | $0 | $325.6M | ||
| Q3 24 | $0 | — | ||
| Q2 24 | $0 | — | ||
| Q1 24 | $0 | — |
股东权益LSTRPAMT
| Q4 25 | $795.7M | $210.5M | ||
| Q3 25 | $888.7M | $239.5M | ||
| Q2 25 | $921.8M | $244.9M | ||
| Q1 25 | $930.8M | $269.6M | ||
| Q4 24 | $972.4M | $277.5M | ||
| Q3 24 | $1.0B | $308.9M | ||
| Q2 24 | $1.0B | $306.7M | ||
| Q1 24 | $1.0B | $314.6M |
总资产LSTRPAMT
| Q4 25 | $1.6B | $697.9M | ||
| Q3 25 | $1.7B | $715.2M | ||
| Q2 25 | $1.7B | $707.9M | ||
| Q1 25 | $1.7B | $712.6M | ||
| Q4 24 | $1.8B | $741.7M | ||
| Q3 24 | $1.8B | $756.7M | ||
| Q2 24 | $1.8B | $733.5M | ||
| Q1 24 | $1.7B | $746.4M |
负债/权益比LSTRPAMT
| Q4 25 | 0.00× | 1.59× | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | 1.17× | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.00× | — |
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 | $-5.8M |
| 自由现金流经营现金流 - 资本支出 | $70.5M | $-25.0M |
| 自由现金流率自由现金流/营收 | 6.0% | -17.7% |
| 资本支出强度资本支出/营收 | 0.2% | 13.6% |
| 现金转化率经营现金流/净利润 | 3.04× | — |
| 过去12个月自由现金流最近4个季度 | $215.0M | $-23.4M |
8季度趋势，按日历期对齐
经营现金流LSTRPAMT
| Q4 25 | $72.7M | $-5.8M | ||
| Q3 25 | $89.3M | $5.9M | ||
| Q2 25 | $7.1M | $12.2M | ||
| Q1 25 | $55.7M | $5.0M | ||
| Q4 24 | $61.1M | $15.2M | ||
| Q3 24 | $83.1M | $15.5M | ||
| Q2 24 | $48.1M | $18.7M | ||
| Q1 24 | $94.2M | $9.6M |
自由现金流LSTRPAMT
| Q4 25 | $70.5M | $-25.0M | ||
| Q3 25 | $86.0M | $2.5M | ||
| Q2 25 | $4.7M | $5.9M | ||
| Q1 25 | $53.8M | $-6.8M | ||
| Q4 24 | $54.4M | $-39.9M | ||
| Q3 24 | $75.6M | $-33.6M | ||
| Q2 24 | $40.6M | $4.1M | ||
| Q1 24 | $84.9M | $-12.2M |
自由现金流率LSTRPAMT
| Q4 25 | 6.0% | -17.7% | ||
| Q3 25 | 7.1% | 1.7% | ||
| Q2 25 | 0.4% | 3.9% | ||
| Q1 25 | 4.7% | -4.4% | ||
| Q4 24 | 4.5% | -24.0% | ||
| Q3 24 | 6.2% | -18.4% | ||
| Q2 24 | 3.3% | 2.2% | ||
| Q1 24 | 7.3% | -6.7% |
资本支出强度LSTRPAMT
| Q4 25 | 0.2% | 13.6% | ||
| Q3 25 | 0.3% | 2.3% | ||
| Q2 25 | 0.2% | 4.2% | ||
| Q1 25 | 0.2% | 7.6% | ||
| Q4 24 | 0.6% | 33.1% | ||
| Q3 24 | 0.6% | 26.9% | ||
| Q2 24 | 0.6% | 8.0% | ||
| Q1 24 | 0.8% | 12.0% |
现金转化率LSTRPAMT
| Q4 25 | 3.04× | — | ||
| Q3 25 | 4.61× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 1.87× | — | ||
| Q4 24 | 1.32× | — | ||
| Q3 24 | 1.66× | 6.44× | ||
| Q2 24 | 0.91× | — | ||
| Q1 24 | 2.00× | 34.11× |
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% |
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
