vs
Side-by-side financial comparison of American Homes 4 Rent (AMH) and FORWARD AIR CORP (FWRD). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $455.0M, roughly 1.4× American Homes 4 Rent). American Homes 4 Rent runs the higher net margin — 31.7% vs -4.5%, a 36.2% gap on every dollar of revenue. On growth, American Homes 4 Rent posted the faster year-over-year revenue change (4.2% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs 3.6%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
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.
AMH vs FWRD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $631.2M |
| Net Profit | $144.3M | $-28.3M |
| Gross Margin | — | — |
| Operating Margin | — | -0.5% |
| Net Margin | 31.7% | -4.5% |
| Revenue YoY | 4.2% | -0.3% |
| Net Profit YoY | 0.3% | 22.2% |
| EPS (diluted) | $0.33 | $-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 | $455.0M | $631.2M | ||
| Q3 25 | $478.5M | $631.8M | ||
| Q2 25 | $457.5M | $618.8M | ||
| Q1 25 | $459.3M | $613.3M | ||
| Q4 24 | $436.6M | $632.8M | ||
| Q3 24 | $445.1M | $655.9M | ||
| Q2 24 | $423.5M | $643.7M | ||
| Q1 24 | $423.6M | $541.8M |
| Q4 25 | $144.3M | $-28.3M | ||
| Q3 25 | $116.8M | $-16.3M | ||
| Q2 25 | $123.6M | $-12.6M | ||
| Q1 25 | $128.7M | $-50.6M | ||
| Q4 24 | $143.9M | $-36.4M | ||
| Q3 24 | $87.6M | $-73.4M | ||
| Q2 24 | $108.5M | $-645.4M | ||
| Q1 24 | $128.1M | $-61.7M |
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | 3.5% | ||
| Q2 24 | — | -170.2% | ||
| Q1 24 | — | -12.1% |
| Q4 25 | 31.7% | -4.5% | ||
| Q3 25 | 24.4% | -2.6% | ||
| Q2 25 | 27.0% | -2.0% | ||
| Q1 25 | 28.0% | -8.3% | ||
| Q4 24 | 33.0% | -5.8% | ||
| Q3 24 | 19.7% | -11.2% | ||
| Q2 24 | 25.6% | -100.3% | ||
| Q1 24 | 30.2% | -11.4% |
| Q4 25 | $0.33 | $-0.90 | ||
| Q3 25 | $0.27 | $-0.52 | ||
| Q2 25 | $0.28 | $-0.41 | ||
| Q1 25 | $0.30 | $-1.68 | ||
| Q4 24 | $0.33 | $-1.69 | ||
| Q3 24 | $0.20 | $-2.66 | ||
| Q2 24 | $0.25 | $-23.47 | ||
| Q1 24 | $0.30 | $-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 | $108.5M | $106.0M |
| Total DebtLower is stronger | $5.1B | $1.7B |
| Stockholders' EquityBook value | $7.0B | $113.3M |
| Total Assets | $13.2B | $2.7B |
| Debt / EquityLower = less leverage | 0.72× | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $106.0M | ||
| Q3 25 | $45.6M | $140.4M | ||
| Q2 25 | $323.3M | $95.1M | ||
| Q1 25 | $69.7M | $116.3M | ||
| Q4 24 | $199.4M | $104.9M | ||
| Q3 24 | $162.5M | $136.6M | ||
| Q2 24 | $718.4M | $84.9M | ||
| Q1 24 | $124.8M | $152.0M |
| Q4 25 | $5.1B | $1.7B | ||
| Q3 25 | $4.8B | $1.7B | ||
| Q2 25 | $5.2B | — | ||
| Q1 25 | $4.9B | — | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $5.0B | — | ||
| Q1 24 | $4.5B | $1.7B |
| Q4 25 | $7.0B | $113.3M | ||
| Q3 25 | $7.2B | $139.8M | ||
| Q2 25 | $7.2B | $151.8M | ||
| Q1 25 | $7.2B | $154.6M | ||
| Q4 24 | $7.2B | $201.7M | ||
| Q3 24 | $7.0B | $226.1M | ||
| Q2 24 | $7.0B | $283.8M | ||
| Q1 24 | $7.0B | $926.1M |
| Q4 25 | $13.2B | $2.7B | ||
| Q3 25 | $13.3B | $2.8B | ||
| Q2 25 | $13.6B | $2.8B | ||
| Q1 25 | $13.3B | $2.8B | ||
| Q4 24 | $13.4B | $2.8B | ||
| Q3 24 | $12.8B | $3.1B | ||
| Q2 24 | $13.3B | $3.1B | ||
| Q1 24 | $12.8B | $4.0B |
| Q4 25 | 0.72× | 14.89× | ||
| Q3 25 | 0.68× | 12.05× | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.69× | — | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.64× | 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 | $864.3M | — |
| Free Cash FlowOCF − Capex | $823.7M | — |
| FCF MarginFCF / Revenue | 181.0% | — |
| Capex IntensityCapex / Revenue | 8.9% | 1.3% |
| Cash ConversionOCF / Net Profit | 5.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.3M | — | ||
| Q3 25 | $223.3M | $52.7M | ||
| Q2 25 | $271.9M | — | ||
| Q1 25 | $223.4M | $27.6M | ||
| Q4 24 | $811.5M | $-23.2M | ||
| Q3 24 | $233.6M | $51.2M | ||
| Q2 24 | $274.0M | $-45.2M | ||
| Q1 24 | $201.8M | $-51.7M |
| Q4 25 | $823.7M | — | ||
| Q3 25 | $214.5M | $48.6M | ||
| Q2 25 | $257.7M | — | ||
| Q1 25 | $215.9M | $15.7M | ||
| Q4 24 | $777.5M | $-30.5M | ||
| Q3 24 | $225.3M | $40.7M | ||
| Q2 24 | $263.3M | $-59.6M | ||
| Q1 24 | $191.0M | $-56.7M |
| Q4 25 | 181.0% | — | ||
| Q3 25 | 44.8% | 7.7% | ||
| Q2 25 | 56.3% | — | ||
| Q1 25 | 47.0% | 2.6% | ||
| Q4 24 | 178.1% | -4.8% | ||
| Q3 24 | 50.6% | 6.2% | ||
| Q2 24 | 62.2% | -9.3% | ||
| Q1 24 | 45.1% | -10.5% |
| Q4 25 | 8.9% | 1.3% | ||
| Q3 25 | 1.8% | 0.7% | ||
| Q2 25 | 3.1% | 0.8% | ||
| Q1 25 | 1.6% | 1.9% | ||
| Q4 24 | 7.8% | 1.1% | ||
| Q3 24 | 1.9% | 1.6% | ||
| Q2 24 | 2.5% | 2.2% | ||
| Q1 24 | 2.6% | 0.9% |
| Q4 25 | 5.99× | — | ||
| Q3 25 | 1.91× | — | ||
| Q2 25 | 2.20× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 5.64× | — | ||
| Q3 24 | 2.67× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 1.58× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
