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Side-by-side financial comparison of Allegion (ALLE) and FORWARD AIR CORP (FWRD). Click either name above to swap in a different company.
Allegion is the larger business by last-quarter revenue ($1.0B vs $631.2M, roughly 1.6× FORWARD AIR CORP). Allegion runs the higher net margin — 14.3% vs -4.5%, a 18.8% gap on every dollar of revenue. On growth, Allegion posted the faster year-over-year revenue change (9.3% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs 7.5%).
Allegion plc manufactures and sells mechanical and electronic security products and solutions worldwide. The company offers door closers, controls, and exit devices; locks, locksets, portable locks, and key systems and services; electronic security products and access control systems; time, attendance, and workforce productivity systems; doors and door systems; and other accessories. The company sells its products and solutions to end-users in commercial, institutional, and residential facili...
Forward Air Corp is a leading North American asset-light logistics and transportation provider. It offers core services including expedited less-than-truckload freight delivery, final-mile logistics, intermodal transport, warehousing, and supply chain solutions, serving key sectors such as e-commerce, retail, manufacturing, and automotive across the U.S., Canada, and Mexico.
ALLE vs FWRD — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.0B | $631.2M |
| Net Profit | $147.5M | $-28.3M |
| Gross Margin | 44.5% | — |
| Operating Margin | 20.3% | -0.5% |
| Net Margin | 14.3% | -4.5% |
| Revenue YoY | 9.3% | -0.3% |
| Net Profit YoY | 2.4% | 22.2% |
| EPS (diluted) | $1.70 | $-0.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.0B | $631.2M | ||
| Q3 25 | $1.1B | $631.8M | ||
| Q2 25 | $1.0B | $618.8M | ||
| Q1 25 | $941.9M | $613.3M | ||
| Q4 24 | $945.6M | $632.8M | ||
| Q3 24 | $967.1M | $655.9M | ||
| Q2 24 | $965.6M | $643.7M | ||
| Q1 24 | $893.9M | $541.8M |
| Q4 25 | $147.5M | $-28.3M | ||
| Q3 25 | $188.4M | $-16.3M | ||
| Q2 25 | $159.7M | $-12.6M | ||
| Q1 25 | $148.2M | $-50.6M | ||
| Q4 24 | $144.1M | $-36.4M | ||
| Q3 24 | $174.2M | $-73.4M | ||
| Q2 24 | $155.4M | $-645.4M | ||
| Q1 24 | $123.8M | $-61.7M |
| Q4 25 | 44.5% | — | ||
| Q3 25 | 45.8% | — | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 44.9% | — | ||
| Q4 24 | 44.1% | — | ||
| Q3 24 | 44.7% | — | ||
| Q2 24 | 44.4% | — | ||
| Q1 24 | 43.8% | — |
| Q4 25 | 20.3% | -0.5% | ||
| Q3 25 | 21.8% | 2.4% | ||
| Q2 25 | 21.5% | 3.2% | ||
| Q1 25 | 20.9% | 0.8% | ||
| Q4 24 | 19.5% | 12.0% | ||
| Q3 24 | 22.2% | 3.5% | ||
| Q2 24 | 21.6% | -170.2% | ||
| Q1 24 | 19.3% | -12.1% |
| Q4 25 | 14.3% | -4.5% | ||
| Q3 25 | 17.6% | -2.6% | ||
| Q2 25 | 15.6% | -2.0% | ||
| Q1 25 | 15.7% | -8.3% | ||
| Q4 24 | 15.2% | -5.8% | ||
| Q3 24 | 18.0% | -11.2% | ||
| Q2 24 | 16.1% | -100.3% | ||
| Q1 24 | 13.8% | -11.4% |
| Q4 25 | $1.70 | $-0.90 | ||
| Q3 25 | $2.18 | $-0.52 | ||
| Q2 25 | $1.85 | $-0.41 | ||
| Q1 25 | $1.71 | $-1.68 | ||
| Q4 24 | $1.65 | $-1.69 | ||
| Q3 24 | $1.99 | $-2.66 | ||
| Q2 24 | $1.77 | $-23.47 | ||
| Q1 24 | $1.41 | $-2.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $356.2M | $106.0M |
| Total DebtLower is stronger | $2.0B | $1.7B |
| Stockholders' EquityBook value | $2.1B | $113.3M |
| Total Assets | $5.2B | $2.7B |
| Debt / EquityLower = less leverage | 0.96× | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $356.2M | $106.0M | ||
| Q3 25 | $302.7M | $140.4M | ||
| Q2 25 | $656.8M | $95.1M | ||
| Q1 25 | $494.5M | $116.3M | ||
| Q4 24 | $503.8M | $104.9M | ||
| Q3 24 | $878.9M | $136.6M | ||
| Q2 24 | $747.5M | $84.9M | ||
| Q1 24 | $391.8M | $152.0M |
| Q4 25 | $2.0B | $1.7B | ||
| Q3 25 | $2.1B | $1.7B | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | $2.4B | — | ||
| Q2 24 | $2.4B | — | ||
| Q1 24 | $2.0B | $1.7B |
| Q4 25 | $2.1B | $113.3M | ||
| Q3 25 | $1.9B | $139.8M | ||
| Q2 25 | $1.8B | $151.8M | ||
| Q1 25 | $1.6B | $154.6M | ||
| Q4 24 | $1.5B | $201.7M | ||
| Q3 24 | $1.6B | $226.1M | ||
| Q2 24 | $1.4B | $283.8M | ||
| Q1 24 | $1.4B | $926.1M |
| Q4 25 | $5.2B | $2.7B | ||
| Q3 25 | $5.2B | $2.8B | ||
| Q2 25 | $4.9B | $2.8B | ||
| Q1 25 | $4.6B | $2.8B | ||
| Q4 24 | $4.5B | $2.8B | ||
| Q3 24 | $5.0B | $3.1B | ||
| Q2 24 | $4.8B | $3.1B | ||
| Q1 24 | $4.3B | $4.0B |
| Q4 25 | 0.96× | 14.89× | ||
| Q3 25 | 1.07× | 12.05× | ||
| Q2 25 | 1.16× | — | ||
| Q1 25 | 1.24× | — | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | 1.53× | — | ||
| Q2 24 | 1.69× | — | ||
| Q1 24 | 1.49× | 1.81× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $240.1M | — |
| Free Cash FlowOCF − Capex | $200.5M | — |
| FCF MarginFCF / Revenue | 19.4% | — |
| Capex IntensityCapex / Revenue | 3.8% | 1.3% |
| Cash ConversionOCF / Net Profit | 1.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $685.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $240.1M | — | ||
| Q3 25 | $229.5M | $52.7M | ||
| Q2 25 | $209.7M | — | ||
| Q1 25 | $104.5M | $27.6M | ||
| Q4 24 | $219.0M | $-23.2M | ||
| Q3 24 | $231.9M | $51.2M | ||
| Q2 24 | $173.0M | $-45.2M | ||
| Q1 24 | $51.1M | $-51.7M |
| Q4 25 | $200.5M | — | ||
| Q3 25 | $209.8M | $48.6M | ||
| Q2 25 | $192.0M | — | ||
| Q1 25 | $83.4M | $15.7M | ||
| Q4 24 | $194.9M | $-30.5M | ||
| Q3 24 | $212.0M | $40.7M | ||
| Q2 24 | $152.1M | $-59.6M | ||
| Q1 24 | $23.9M | $-56.7M |
| Q4 25 | 19.4% | — | ||
| Q3 25 | 19.6% | 7.7% | ||
| Q2 25 | 18.8% | — | ||
| Q1 25 | 8.9% | 2.6% | ||
| Q4 24 | 20.6% | -4.8% | ||
| Q3 24 | 21.9% | 6.2% | ||
| Q2 24 | 15.8% | -9.3% | ||
| Q1 24 | 2.7% | -10.5% |
| Q4 25 | 3.8% | 1.3% | ||
| Q3 25 | 1.8% | 0.7% | ||
| Q2 25 | 1.7% | 0.8% | ||
| Q1 25 | 2.2% | 1.9% | ||
| Q4 24 | 2.5% | 1.1% | ||
| Q3 24 | 2.1% | 1.6% | ||
| Q2 24 | 2.2% | 2.2% | ||
| Q1 24 | 3.0% | 0.9% |
| Q4 25 | 1.63× | — | ||
| Q3 25 | 1.22× | — | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 0.71× | — | ||
| Q4 24 | 1.52× | — | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.11× | — | ||
| Q1 24 | 0.41× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALLE
| Products | $750.2M | 73% |
| Allegion International | $237.7M | 23% |
| Services | $45.2M | 4% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
