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Old Dominion（ODFL）与联合太平洋（UNP）财务数据对比。点击上方公司名可切换其他公司
联合太平洋的季度营收约是Old Dominion的4.8倍（$6.2B vs $1.3B），联合太平洋净利率更高（27.4% vs 17.6%，领先9.8%），联合太平洋同比增速更快（3.2% vs -5.7%），联合太平洋自由现金流更多（$631.0M vs $264.5M），过去两年联合太平洋的营收复合增速更高（1.7% vs -5.4%）
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。
联合太平洋是美国一级货运铁路运营商，共运营8300台机车，线路总长超5.18万公里，覆盖芝加哥、新奥尔良以西的23个美国州，是全美规模仅次于BNSF的第二大铁路企业。
ODFL vs UNP — 直观对比
营收规模更大
UNP
是对方的4.8倍
$1.3B
营收增速更快
UNP
高出8.8%
-5.7%
净利率更高
UNP
高出9.8%
17.6%
自由现金流更多
UNP
多$366.5M
$264.5M
两年增速更快
UNP
近两年复合增速
-5.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.3B | $6.2B |
| 净利润 | $229.5M | $1.7B |
| 毛利率 | — | — |
| 营业利润率 | 23.3% | 39.5% |
| 净利率 | 17.6% | 27.4% |
| 营收同比 | -5.7% | 3.2% |
| 净利润同比 | -12.8% | 4.6% |
| 每股收益（稀释后） | $1.10 | $2.87 |
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ODFLUNP
| Q1 26 | — | $6.2B | ||
| Q4 25 | $1.3B | $6.1B | ||
| Q3 25 | $1.4B | $6.2B | ||
| Q2 25 | $1.4B | $6.2B | ||
| Q1 25 | $1.4B | $6.0B | ||
| Q4 24 | $1.4B | $6.1B | ||
| Q3 24 | $1.5B | $6.1B | ||
| Q2 24 | $1.5B | $6.0B |
净利润ODFLUNP
| Q1 26 | — | $1.7B | ||
| Q4 25 | $229.5M | $1.8B | ||
| Q3 25 | $270.9M | $1.8B | ||
| Q2 25 | $268.6M | $1.9B | ||
| Q1 25 | $254.7M | $1.6B | ||
| Q4 24 | $263.1M | $1.8B | ||
| Q3 24 | $308.6M | $1.7B | ||
| Q2 24 | $322.0M | $1.7B |
营业利润率ODFLUNP
| Q1 26 | — | 39.5% | ||
| Q4 25 | 23.3% | 39.5% | ||
| Q3 25 | 25.7% | 40.8% | ||
| Q2 25 | 25.4% | 41.0% | ||
| Q1 25 | 24.6% | 39.3% | ||
| Q4 24 | 24.1% | 41.3% | ||
| Q3 24 | 27.3% | 39.7% | ||
| Q2 24 | 28.1% | 40.0% |
净利率ODFLUNP
| Q1 26 | — | 27.4% | ||
| Q4 25 | 17.6% | 30.4% | ||
| Q3 25 | 19.3% | 28.6% | ||
| Q2 25 | 19.1% | 30.5% | ||
| Q1 25 | 18.5% | 27.0% | ||
| Q4 24 | 19.0% | 28.8% | ||
| Q3 24 | 21.0% | 27.4% | ||
| Q2 24 | 21.5% | 27.9% |
每股收益（稀释后）ODFLUNP
| Q1 26 | — | $2.87 | ||
| Q4 25 | $1.10 | $3.12 | ||
| Q3 25 | $1.28 | $3.01 | ||
| Q2 25 | $1.27 | $3.15 | ||
| Q1 25 | $1.19 | $2.70 | ||
| Q4 24 | $1.23 | $2.91 | ||
| Q3 24 | $1.43 | $2.75 | ||
| Q2 24 | $1.48 | $2.74 |
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 | $120.1M | $735.0M |
| 总债务越低越好 | $20.0M | — |
| 股东权益账面价值 | $4.3B | — |
| 总资产 | $5.5B | $69.6B |
| 负债/权益比越低杠杆越低 | 0.00× | — |
8季度趋势，按日历期对齐
现金及短期投资ODFLUNP
| Q1 26 | — | $735.0M | ||
| Q4 25 | $120.1M | $1.3B | ||
| Q3 25 | $46.6M | $808.0M | ||
| Q2 25 | $24.1M | $1.1B | ||
| Q1 25 | $97.2M | $1.4B | ||
| Q4 24 | $108.7M | $1.0B | ||
| Q3 24 | $74.2M | $947.0M | ||
| Q2 24 | $104.6M | $1.1B |
总债务ODFLUNP
| Q1 26 | — | — | ||
| Q4 25 | $20.0M | $30.3B | ||
| Q3 25 | $65.0M | $30.3B | ||
| Q2 25 | $150.0M | $30.3B | ||
| Q1 25 | $40.0M | $30.6B | ||
| Q4 24 | $40.0M | $29.8B | ||
| Q3 24 | $40.0M | $29.8B | ||
| Q2 24 | $40.0M | $31.2B |
股东权益ODFLUNP
| Q1 26 | — | — | ||
| Q4 25 | $4.3B | $18.5B | ||
| Q3 25 | $4.3B | $17.3B | ||
| Q2 25 | $4.2B | $16.3B | ||
| Q1 25 | $4.2B | $16.0B | ||
| Q4 24 | $4.2B | $16.9B | ||
| Q3 24 | $4.2B | $16.6B | ||
| Q2 24 | $4.1B | $16.5B |
总资产ODFLUNP
| Q1 26 | — | $69.6B | ||
| Q4 25 | $5.5B | $69.7B | ||
| Q3 25 | $5.5B | $68.6B | ||
| Q2 25 | $5.6B | $68.6B | ||
| Q1 25 | $5.5B | $68.5B | ||
| Q4 24 | $5.5B | $67.7B | ||
| Q3 24 | $5.4B | $67.6B | ||
| Q2 24 | $5.3B | $67.8B |
负债/权益比ODFLUNP
| Q1 26 | — | — | ||
| Q4 25 | 0.00× | 1.64× | ||
| Q3 25 | 0.02× | 1.75× | ||
| Q2 25 | 0.04× | 1.86× | ||
| Q1 25 | 0.01× | 1.91× | ||
| Q4 24 | 0.01× | 1.76× | ||
| Q3 24 | 0.01× | 1.79× | ||
| Q2 24 | 0.01× | 1.89× |
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 | $310.3M | — |
| 自由现金流经营现金流 - 资本支出 | $264.5M | $631.0M |
| 自由现金流率自由现金流/营收 | 20.2% | 10.1% |
| 资本支出强度资本支出/营收 | 3.5% | — |
| 现金转化率经营现金流/净利润 | 1.35× | — |
| 过去12个月自由现金流最近4个季度 | $955.1M | $4.8B |
8季度趋势，按日历期对齐
经营现金流ODFLUNP
| Q1 26 | — | — | ||
| Q4 25 | $310.3M | $2.2B | ||
| Q3 25 | $437.5M | $2.5B | ||
| Q2 25 | $285.8M | $2.3B | ||
| Q1 25 | $336.5M | $2.2B | ||
| Q4 24 | $401.1M | $2.7B | ||
| Q3 24 | $446.5M | $2.7B | ||
| Q2 24 | $387.9M | $1.9B |
自由现金流ODFLUNP
| Q1 26 | — | $631.0M | ||
| Q4 25 | $264.5M | $1.2B | ||
| Q3 25 | $343.5M | $1.6B | ||
| Q2 25 | $98.7M | $1.4B | ||
| Q1 25 | $248.4M | $1.3B | ||
| Q4 24 | $230.1M | $1.7B | ||
| Q3 24 | $203.7M | $1.8B | ||
| Q2 24 | $149.7M | $1.0B |
自由现金流率ODFLUNP
| Q1 26 | — | 10.1% | ||
| Q4 25 | 20.2% | 20.1% | ||
| Q3 25 | 24.4% | 25.2% | ||
| Q2 25 | 7.0% | 22.7% | ||
| Q1 25 | 18.1% | 21.6% | ||
| Q4 24 | 16.6% | 28.4% | ||
| Q3 24 | 13.9% | 29.9% | ||
| Q2 24 | 10.0% | 16.8% |
资本支出强度ODFLUNP
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | 16.4% | ||
| Q3 25 | 6.7% | 15.2% | ||
| Q2 25 | 13.3% | 15.2% | ||
| Q1 25 | 6.4% | 15.0% | ||
| Q4 24 | 12.3% | 15.1% | ||
| Q3 24 | 16.5% | 13.6% | ||
| Q2 24 | 15.9% | 15.0% |
现金转化率ODFLUNP
| Q1 26 | — | — | ||
| Q4 25 | 1.35× | 1.20× | ||
| Q3 25 | 1.61× | 1.41× | ||
| Q2 25 | 1.06× | 1.24× | ||
| Q1 25 | 1.32× | 1.36× | ||
| Q4 24 | 1.52× | 1.51× | ||
| Q3 24 | 1.45× | 1.59× | ||
| Q2 24 | 1.20× | 1.14× |
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
ODFL
| LTL Service Revenue | $1.3B | 99% |
| Other Service Revenue | $11.4M | 1% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
