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Side-by-side financial comparison of APTARGROUP, INC. (ATR) and FORWARD AIR CORP (FWRD). Click either name above to swap in a different company.
APTARGROUP, INC. is the larger business by last-quarter revenue ($962.7M vs $631.2M, roughly 1.5× FORWARD AIR CORP). APTARGROUP, INC. runs the higher net margin — 7.7% vs -4.5%, a 12.2% gap on every dollar of revenue. On growth, APTARGROUP, INC. posted the faster year-over-year revenue change (13.5% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs 2.6%).
AptarGroup, Inc., also known as Aptar, is a United States–based global manufacturer of consumer dispensing packaging and drug delivery devices. The group has manufacturing operations in 18 countries.
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.
ATR vs FWRD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $962.7M | $631.2M |
| Net Profit | $74.3M | $-28.3M |
| Gross Margin | — | — |
| Operating Margin | 11.0% | -0.5% |
| Net Margin | 7.7% | -4.5% |
| Revenue YoY | 13.5% | -0.3% |
| Net Profit YoY | -26.4% | 22.2% |
| EPS (diluted) | $1.13 | $-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 | $962.7M | $631.2M | ||
| Q3 25 | $961.1M | $631.8M | ||
| Q2 25 | $966.0M | $618.8M | ||
| Q1 25 | $887.3M | $613.3M | ||
| Q4 24 | $848.1M | $632.8M | ||
| Q3 24 | $909.3M | $655.9M | ||
| Q2 24 | $910.1M | $643.7M | ||
| Q1 24 | $915.4M | $541.8M |
| Q4 25 | $74.3M | $-28.3M | ||
| Q3 25 | $127.9M | $-16.3M | ||
| Q2 25 | $111.7M | $-12.6M | ||
| Q1 25 | $78.8M | $-50.6M | ||
| Q4 24 | $100.9M | $-36.4M | ||
| Q3 24 | $100.0M | $-73.4M | ||
| Q2 24 | $90.5M | $-645.4M | ||
| Q1 24 | $83.1M | $-61.7M |
| Q4 25 | 11.0% | -0.5% | ||
| Q3 25 | 14.2% | 2.4% | ||
| Q2 25 | 14.9% | 3.2% | ||
| Q1 25 | 12.8% | 0.8% | ||
| Q4 24 | 14.2% | 12.0% | ||
| Q3 24 | 15.2% | 3.5% | ||
| Q2 24 | 13.8% | -170.2% | ||
| Q1 24 | 12.2% | -12.1% |
| Q4 25 | 7.7% | -4.5% | ||
| Q3 25 | 13.3% | -2.6% | ||
| Q2 25 | 11.6% | -2.0% | ||
| Q1 25 | 8.9% | -8.3% | ||
| Q4 24 | 11.9% | -5.8% | ||
| Q3 24 | 11.0% | -11.2% | ||
| Q2 24 | 9.9% | -100.3% | ||
| Q1 24 | 9.1% | -11.4% |
| Q4 25 | $1.13 | $-0.90 | ||
| Q3 25 | $1.92 | $-0.52 | ||
| Q2 25 | $1.67 | $-0.41 | ||
| Q1 25 | $1.17 | $-1.68 | ||
| Q4 24 | $1.48 | $-1.69 | ||
| Q3 24 | $1.48 | $-2.66 | ||
| Q2 24 | $1.34 | $-23.47 | ||
| Q1 24 | $1.23 | $-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 | $409.5M | $106.0M |
| Total DebtLower is stronger | $1.1B | $1.7B |
| Stockholders' EquityBook value | $2.7B | $113.3M |
| Total Assets | $5.3B | $2.7B |
| Debt / EquityLower = less leverage | 0.43× | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $409.5M | $106.0M | ||
| Q3 25 | $264.8M | $140.4M | ||
| Q2 25 | $169.8M | $95.1M | ||
| Q1 25 | $136.8M | $116.3M | ||
| Q4 24 | $226.2M | $104.9M | ||
| Q3 24 | $327.9M | $136.6M | ||
| Q2 24 | $223.9M | $84.9M | ||
| Q1 24 | $201.1M | $152.0M |
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $546.0M | $1.7B | ||
| Q2 25 | $535.1M | — | ||
| Q1 25 | $561.2M | — | ||
| Q4 24 | $688.1M | — | ||
| Q3 24 | $822.7M | — | ||
| Q2 24 | $681.5M | — | ||
| Q1 24 | $680.4M | $1.7B |
| Q4 25 | $2.7B | $113.3M | ||
| Q3 25 | $2.8B | $139.8M | ||
| Q2 25 | $2.7B | $151.8M | ||
| Q1 25 | $2.5B | $154.6M | ||
| Q4 24 | $2.5B | $201.7M | ||
| Q3 24 | $2.5B | $226.1M | ||
| Q2 24 | $2.4B | $283.8M | ||
| Q1 24 | $2.3B | $926.1M |
| Q4 25 | $5.3B | $2.7B | ||
| Q3 25 | $5.1B | $2.8B | ||
| Q2 25 | $4.9B | $2.8B | ||
| Q1 25 | $4.5B | $2.8B | ||
| Q4 24 | $4.4B | $2.8B | ||
| Q3 24 | $4.6B | $3.1B | ||
| Q2 24 | $4.5B | $3.1B | ||
| Q1 24 | $4.4B | $4.0B |
| Q4 25 | 0.43× | 14.89× | ||
| Q3 25 | 0.20× | 12.05× | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.32× | — | ||
| Q2 24 | 0.28× | — | ||
| Q1 24 | 0.29× | 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 | $183.7M | — |
| Free Cash FlowOCF − Capex | $96.9M | — |
| FCF MarginFCF / Revenue | 10.1% | — |
| Capex IntensityCapex / Revenue | 9.0% | 1.3% |
| Cash ConversionOCF / Net Profit | 2.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $299.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.7M | — | ||
| Q3 25 | $177.6M | $52.7M | ||
| Q2 25 | $126.0M | — | ||
| Q1 25 | $82.7M | $27.6M | ||
| Q4 24 | $178.2M | $-23.2M | ||
| Q3 24 | $229.3M | $51.2M | ||
| Q2 24 | $143.6M | $-45.2M | ||
| Q1 24 | $92.3M | $-51.7M |
| Q4 25 | $96.9M | — | ||
| Q3 25 | $114.3M | $48.6M | ||
| Q2 25 | $62.5M | — | ||
| Q1 25 | $25.9M | $15.7M | ||
| Q4 24 | $112.2M | $-30.5M | ||
| Q3 24 | $162.7M | $40.7M | ||
| Q2 24 | $75.4M | $-59.6M | ||
| Q1 24 | $16.7M | $-56.7M |
| Q4 25 | 10.1% | — | ||
| Q3 25 | 11.9% | 7.7% | ||
| Q2 25 | 6.5% | — | ||
| Q1 25 | 2.9% | 2.6% | ||
| Q4 24 | 13.2% | -4.8% | ||
| Q3 24 | 17.9% | 6.2% | ||
| Q2 24 | 8.3% | -9.3% | ||
| Q1 24 | 1.8% | -10.5% |
| Q4 25 | 9.0% | 1.3% | ||
| Q3 25 | 6.6% | 0.7% | ||
| Q2 25 | 6.6% | 0.8% | ||
| Q1 25 | 6.4% | 1.9% | ||
| Q4 24 | 7.8% | 1.1% | ||
| Q3 24 | 7.3% | 1.6% | ||
| Q2 24 | 7.5% | 2.2% | ||
| Q1 24 | 8.3% | 0.9% |
| Q4 25 | 2.47× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.13× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 1.77× | — | ||
| Q3 24 | 2.29× | — | ||
| Q2 24 | 1.59× | — | ||
| Q1 24 | 1.11× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATR
| Pharma Segment | $833.1M | 87% |
| Other | $129.6M | 13% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
