vs
PAMT CORP（PAMT）与WERNER ENTERPRISES INC（WERN）财务数据对比。点击上方公司名可切换其他公司
WERNER ENTERPRISES INC的季度营收约是PAMT CORP的5.1倍（$719.9M vs $141.3M）。WERNER ENTERPRISES INC净利率更高（-3.9% vs -20.7%，领先16.8%）。WERNER ENTERPRISES INC同比增速更快（-2.3% vs -15.1%）。WERNER ENTERPRISES INC自由现金流更多（$-23.5M vs $-25.0M）。过去两年WERNER ENTERPRISES INC的营收复合增速更高（-2.0% vs -12.0%）
沃纳企业是美国知名运输物流服务商，业务覆盖美国、墨西哥与加拿大市场。2023年该公司营收达32.8亿美元，旗下员工及签约承包商总规模超1.4万人，在北美跨境物流、干线运输领域具备成熟的服务能力与行业影响力。
PAMT vs WERN — 直观对比
营收规模更大
WERN
是对方的5.1倍
$141.3M
营收增速更快
WERN
高出12.9%
-15.1%
净利率更高
WERN
高出16.8%
-20.7%
自由现金流更多
WERN
多$1.5M
$-25.0M
两年增速更快
WERN
近两年复合增速
-12.0%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $141.3M | $719.9M |
| 净利润 | $-29.3M | $-27.8M |
| 毛利率 | — | — |
| 营业利润率 | -27.0% | -5.0% |
| 净利率 | -20.7% | -3.9% |
| 营收同比 | -15.1% | -2.3% |
| 净利润同比 | 7.4% | -333.7% |
| 每股收益（稀释后） | $-1.38 | $-0.46 |
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PAMTWERN
| Q4 25 | $141.3M | $719.9M | ||
| Q3 25 | $150.3M | $752.2M | ||
| Q2 25 | $151.1M | $734.1M | ||
| Q1 25 | $155.3M | $693.4M | ||
| Q4 24 | $166.5M | $736.6M | ||
| Q3 24 | $182.6M | $726.3M | ||
| Q2 24 | $182.9M | $742.7M | ||
| Q1 24 | $182.6M | $749.5M |
净利润PAMTWERN
| Q4 25 | $-29.3M | $-27.8M | ||
| Q3 25 | $-5.6M | $-20.6M | ||
| Q2 25 | $-9.6M | $44.1M | ||
| Q1 25 | $-8.1M | $-10.1M | ||
| Q4 24 | $-31.6M | $11.9M | ||
| Q3 24 | $2.4M | $6.6M | ||
| Q2 24 | $-2.9M | $9.5M | ||
| Q1 24 | $281.0K | $6.3M |
营业利润率PAMTWERN
| Q4 25 | -27.0% | -5.0% | ||
| Q3 25 | -3.8% | -1.7% | ||
| Q2 25 | -7.3% | 9.0% | ||
| Q1 25 | -5.9% | -0.8% | ||
| Q4 24 | -22.6% | 1.8% | ||
| Q3 24 | 1.3% | 2.4% | ||
| Q2 24 | -0.4% | 2.6% | ||
| Q1 24 | -0.4% | 2.1% |
净利率PAMTWERN
| Q4 25 | -20.7% | -3.9% | ||
| Q3 25 | -3.7% | -2.7% | ||
| Q2 25 | -6.4% | 6.0% | ||
| Q1 25 | -5.2% | -1.5% | ||
| Q4 24 | -19.0% | 1.6% | ||
| Q3 24 | 1.3% | 0.9% | ||
| Q2 24 | -1.6% | 1.3% | ||
| Q1 24 | 0.2% | 0.8% |
每股收益（稀释后）PAMTWERN
| Q4 25 | $-1.38 | $-0.46 | ||
| Q3 25 | $-0.27 | $-0.34 | ||
| Q2 25 | $-0.46 | $0.72 | ||
| Q1 25 | $-0.37 | $-0.16 | ||
| Q4 24 | $-1.44 | $0.19 | ||
| Q3 24 | $0.11 | $0.11 | ||
| Q2 24 | $-0.13 | $0.15 | ||
| Q1 24 | $0.01 | $0.10 |
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 | $83.7M | $59.9M |
| 总债务越低越好 | $333.9M | $752.0M |
| 股东权益账面价值 | $210.5M | $1.4B |
| 总资产 | $697.9M | $2.9B |
| 负债/权益比越低杠杆越低 | 1.59× | 0.55× |
8季度趋势，按日历期对齐
现金及短期投资PAMTWERN
| Q4 25 | $83.7M | $59.9M | ||
| Q3 25 | $115.6M | $51.0M | ||
| Q2 25 | $117.3M | $51.4M | ||
| Q1 25 | $102.7M | $52.0M | ||
| Q4 24 | $110.7M | $40.8M | ||
| Q3 24 | $92.3M | $54.7M | ||
| Q2 24 | $114.0M | $70.4M | ||
| Q1 24 | $125.8M | $60.3M |
总债务PAMTWERN
| Q4 25 | $333.9M | $752.0M | ||
| Q3 25 | — | $725.0M | ||
| Q2 25 | — | $725.0M | ||
| Q1 25 | — | $640.0M | ||
| Q4 24 | $325.6M | $650.0M | ||
| Q3 24 | — | $690.0M | ||
| Q2 24 | — | $670.0M | ||
| Q1 24 | — | $597.5M |
股东权益PAMTWERN
| Q4 25 | $210.5M | $1.4B | ||
| Q3 25 | $239.5M | $1.4B | ||
| Q2 25 | $244.9M | $1.4B | ||
| Q1 25 | $269.6M | $1.4B | ||
| Q4 24 | $277.5M | $1.5B | ||
| Q3 24 | $308.9M | $1.4B | ||
| Q2 24 | $306.7M | $1.5B | ||
| Q1 24 | $314.6M | $1.5B |
总资产PAMTWERN
| Q4 25 | $697.9M | $2.9B | ||
| Q3 25 | $715.2M | $3.0B | ||
| Q2 25 | $707.9M | $2.9B | ||
| Q1 25 | $712.6M | $3.0B | ||
| Q4 24 | $741.7M | $3.1B | ||
| Q3 24 | $756.7M | $3.1B | ||
| Q2 24 | $733.5M | $3.1B | ||
| Q1 24 | $746.4M | $3.1B |
负债/权益比PAMTWERN
| Q4 25 | 1.59× | 0.55× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | 1.17× | 0.45× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.39× |
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 | $-5.8M | $62.3M |
| 自由现金流经营现金流 - 资本支出 | $-25.0M | $-23.5M |
| 自由现金流率自由现金流/营收 | -17.7% | -3.3% |
| 资本支出强度资本支出/营收 | 13.6% | 11.9% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-23.4M | $-68.5M |
8季度趋势，按日历期对齐
经营现金流PAMTWERN
| Q4 25 | $-5.8M | $62.3M | ||
| Q3 25 | $5.9M | $44.1M | ||
| Q2 25 | $12.2M | $46.0M | ||
| Q1 25 | $5.0M | $29.4M | ||
| Q4 24 | $15.2M | $71.0M | ||
| Q3 24 | $15.5M | $61.0M | ||
| Q2 24 | $18.7M | $109.1M | ||
| Q1 24 | $9.6M | $88.6M |
自由现金流PAMTWERN
| Q4 25 | $-25.0M | $-23.5M | ||
| Q3 25 | $2.5M | $-8.6M | ||
| Q2 25 | $5.9M | $-42.3M | ||
| Q1 25 | $-6.8M | $5.9M | ||
| Q4 24 | $-39.9M | $-9.8M | ||
| Q3 24 | $-33.6M | $-73.4M | ||
| Q2 24 | $4.1M | $-31.2M | ||
| Q1 24 | $-12.2M | $30.4M |
自由现金流率PAMTWERN
| Q4 25 | -17.7% | -3.3% | ||
| Q3 25 | 1.7% | -1.1% | ||
| Q2 25 | 3.9% | -5.8% | ||
| Q1 25 | -4.4% | 0.8% | ||
| Q4 24 | -24.0% | -1.3% | ||
| Q3 24 | -18.4% | -10.1% | ||
| Q2 24 | 2.2% | -4.2% | ||
| Q1 24 | -6.7% | 4.0% |
资本支出强度PAMTWERN
| Q4 25 | 13.6% | 11.9% | ||
| Q3 25 | 2.3% | 7.0% | ||
| Q2 25 | 4.2% | 12.0% | ||
| Q1 25 | 7.6% | 3.4% | ||
| Q4 24 | 33.1% | 11.0% | ||
| Q3 24 | 26.9% | 18.5% | ||
| Q2 24 | 8.0% | 18.9% | ||
| Q1 24 | 12.0% | 7.8% |
现金转化率PAMTWERN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.97× | ||
| Q3 24 | 6.44× | 9.30× | ||
| Q2 24 | — | 11.52× | ||
| Q1 24 | 34.11× | 14.03× |
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
PAMT
| Freight Transportation Service | $123.1M | 87% |
| Fuel Surcharge | $18.2M | 13% |
WERN
| Truckload Transportation Services Segment | $512.6M | 71% |
| Werner Logistics | $207.5M | 29% |
| CA | $3.1M | 0% |
