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Side-by-side financial comparison of AdvanSix Inc. (ASIX) 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 $359.9M, roughly 1.8× AdvanSix Inc.). AdvanSix Inc. runs the higher net margin — -0.8% vs -4.5%, a 3.7% gap on every dollar of revenue. On growth, AdvanSix Inc. posted the faster year-over-year revenue change (9.4% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs 3.4%).
AdvanSix Inc. is an American chemical company that produces nylon 6 and related chemicals such as caprolactam and ammonium sulfate fertilizers. It operated as Honeywell's Resins and Chemicals division until 2016, when it was spun off as a separate company. The unit accounted for 3 percent of Honeywell's sales at the time. For 2019, revenue is estimated at $1.4 billion. The company traces its lineage to the H. W. Jayne Company, established 1884 in Frankford, Pennsylvania.
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.
ASIX vs FWRD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $359.9M | $631.2M |
| Net Profit | $-2.8M | $-28.3M |
| Gross Margin | 7.6% | — |
| Operating Margin | -0.7% | -0.5% |
| Net Margin | -0.8% | -4.5% |
| Revenue YoY | 9.4% | -0.3% |
| Net Profit YoY | -892.9% | 22.2% |
| EPS (diluted) | $-0.11 | $-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 | $359.9M | $631.2M | ||
| Q3 25 | $374.5M | $631.8M | ||
| Q2 25 | $410.0M | $618.8M | ||
| Q1 25 | $377.8M | $613.3M | ||
| Q4 24 | $329.1M | $632.8M | ||
| Q3 24 | $398.2M | $655.9M | ||
| Q2 24 | $453.5M | $643.7M | ||
| Q1 24 | $336.8M | $541.8M |
| Q4 25 | $-2.8M | $-28.3M | ||
| Q3 25 | $-2.6M | $-16.3M | ||
| Q2 25 | $31.4M | $-12.6M | ||
| Q1 25 | $23.3M | $-50.6M | ||
| Q4 24 | $352.0K | $-36.4M | ||
| Q3 24 | $22.3M | $-73.4M | ||
| Q2 24 | $38.9M | $-645.4M | ||
| Q1 24 | $-17.4M | $-61.7M |
| Q4 25 | 7.6% | — | ||
| Q3 25 | 6.8% | — | ||
| Q2 25 | 14.3% | — | ||
| Q1 25 | 14.2% | — | ||
| Q4 24 | 3.4% | — | ||
| Q3 24 | 14.4% | — | ||
| Q2 24 | 17.9% | — | ||
| Q1 24 | 0.9% | — |
| Q4 25 | -0.7% | -0.5% | ||
| Q3 25 | -0.9% | 2.4% | ||
| Q2 25 | 7.7% | 3.2% | ||
| Q1 25 | 7.7% | 0.8% | ||
| Q4 24 | -3.9% | 12.0% | ||
| Q3 24 | 7.5% | 3.5% | ||
| Q2 24 | 11.5% | -170.2% | ||
| Q1 24 | -7.0% | -12.1% |
| Q4 25 | -0.8% | -4.5% | ||
| Q3 25 | -0.7% | -2.6% | ||
| Q2 25 | 7.7% | -2.0% | ||
| Q1 25 | 6.2% | -8.3% | ||
| Q4 24 | 0.1% | -5.8% | ||
| Q3 24 | 5.6% | -11.2% | ||
| Q2 24 | 8.6% | -100.3% | ||
| Q1 24 | -5.2% | -11.4% |
| Q4 25 | $-0.11 | $-0.90 | ||
| Q3 25 | $-0.10 | $-0.52 | ||
| Q2 25 | $1.15 | $-0.41 | ||
| Q1 25 | $0.86 | $-1.68 | ||
| Q4 24 | $0.02 | $-1.69 | ||
| Q3 24 | $0.82 | $-2.66 | ||
| Q2 24 | $1.43 | $-23.47 | ||
| Q1 24 | $-0.65 | $-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 | $19.8M | $106.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $815.2M | $113.3M |
| Total Assets | $1.7B | $2.7B |
| Debt / EquityLower = less leverage | — | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $19.8M | $106.0M | ||
| Q3 25 | $23.7M | $140.4M | ||
| Q2 25 | $18.4M | $95.1M | ||
| Q1 25 | $8.3M | $116.3M | ||
| Q4 24 | $19.6M | $104.9M | ||
| Q3 24 | $17.3M | $136.6M | ||
| Q2 24 | $12.1M | $84.9M | ||
| Q1 24 | $20.6M | $152.0M |
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $1.7B |
| Q4 25 | $815.2M | $113.3M | ||
| Q3 25 | $818.2M | $139.8M | ||
| Q2 25 | $823.7M | $151.8M | ||
| Q1 25 | $794.4M | $154.6M | ||
| Q4 24 | $774.6M | $201.7M | ||
| Q3 24 | $766.4M | $226.1M | ||
| Q2 24 | $746.6M | $283.8M | ||
| Q1 24 | $713.2M | $926.1M |
| Q4 25 | $1.7B | $2.7B | ||
| Q3 25 | $1.7B | $2.8B | ||
| Q2 25 | $1.6B | $2.8B | ||
| Q1 25 | $1.6B | $2.8B | ||
| Q4 24 | $1.6B | $2.8B | ||
| Q3 24 | $1.5B | $3.1B | ||
| Q2 24 | $1.5B | $3.1B | ||
| Q1 24 | $1.5B | $4.0B |
| Q4 25 | — | 14.89× | ||
| Q3 25 | — | 12.05× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 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 | $63.7M | — |
| Free Cash FlowOCF − Capex | $36.1M | — |
| FCF MarginFCF / Revenue | 10.0% | — |
| Capex IntensityCapex / Revenue | 7.7% | 1.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $6.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.7M | — | ||
| Q3 25 | $26.6M | $52.7M | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $11.4M | $27.6M | ||
| Q4 24 | $64.2M | $-23.2M | ||
| Q3 24 | $57.3M | $51.2M | ||
| Q2 24 | $50.2M | $-45.2M | ||
| Q1 24 | $-36.2M | $-51.7M |
| Q4 25 | $36.1M | — | ||
| Q3 25 | $66.0K | $48.6M | ||
| Q2 25 | $-7.2M | — | ||
| Q1 25 | $-22.6M | $15.7M | ||
| Q4 24 | $29.8M | $-30.5M | ||
| Q3 24 | $26.8M | $40.7M | ||
| Q2 24 | $16.7M | $-59.6M | ||
| Q1 24 | $-71.6M | $-56.7M |
| Q4 25 | 10.0% | — | ||
| Q3 25 | 0.0% | 7.7% | ||
| Q2 25 | -1.7% | — | ||
| Q1 25 | -6.0% | 2.6% | ||
| Q4 24 | 9.1% | -4.8% | ||
| Q3 24 | 6.7% | 6.2% | ||
| Q2 24 | 3.7% | -9.3% | ||
| Q1 24 | -21.3% | -10.5% |
| Q4 25 | 7.7% | 1.3% | ||
| Q3 25 | 7.1% | 0.7% | ||
| Q2 25 | 6.9% | 0.8% | ||
| Q1 25 | 9.0% | 1.9% | ||
| Q4 24 | 10.4% | 1.1% | ||
| Q3 24 | 7.7% | 1.6% | ||
| Q2 24 | 7.4% | 2.2% | ||
| Q1 24 | 10.5% | 0.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.67× | — | ||
| Q1 25 | 0.49× | — | ||
| Q4 24 | 182.29× | — | ||
| Q3 24 | 2.57× | — | ||
| Q2 24 | 1.29× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASIX
| Plant Nutrients | $140.0M | 39% |
| Chemical Intermediates | $92.8M | 26% |
| Caprolactam | $64.4M | 18% |
| Nylon Resins | $62.8M | 17% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
