vs
Side-by-side financial comparison of AvalonBay Communities (AVB) and FORWARD AIR CORP (FWRD). Click either name above to swap in a different company.
AvalonBay Communities is the larger business by last-quarter revenue ($767.9M vs $631.2M, roughly 1.2× FORWARD AIR CORP). AvalonBay Communities runs the higher net margin — 9040.6% vs -4.5%, a 9045.1% gap on every dollar of revenue. On growth, AvalonBay Communities posted the faster year-over-year revenue change (3.7% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs 3.8%).
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
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.
AVB vs FWRD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $767.9M | $631.2M |
| Net Profit | $166.0M | $-28.3M |
| Gross Margin | — | — |
| Operating Margin | 64.2% | -0.5% |
| Net Margin | 9040.6% | -4.5% |
| Revenue YoY | 3.7% | -0.3% |
| Net Profit YoY | -41.2% | 22.2% |
| EPS (diluted) | $1.18 | $-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 | $767.9M | $631.2M | ||
| Q3 25 | $766.8M | $631.8M | ||
| Q2 25 | $760.2M | $618.8M | ||
| Q1 25 | $745.9M | $613.3M | ||
| Q4 24 | $740.5M | $632.8M | ||
| Q3 24 | $734.3M | $655.9M | ||
| Q2 24 | $726.0M | $643.7M | ||
| Q1 24 | $712.9M | $541.8M |
| Q4 25 | $166.0M | $-28.3M | ||
| Q3 25 | $381.3M | $-16.3M | ||
| Q2 25 | $268.7M | $-12.6M | ||
| Q1 25 | $236.6M | $-50.6M | ||
| Q4 24 | $282.1M | $-36.4M | ||
| Q3 24 | $372.5M | $-73.4M | ||
| Q2 24 | $253.9M | $-645.4M | ||
| Q1 24 | $173.4M | $-61.7M |
| Q4 25 | 64.2% | -0.5% | ||
| Q3 25 | 65.7% | 2.4% | ||
| Q2 25 | 67.6% | 3.2% | ||
| Q1 25 | 68.5% | 0.8% | ||
| Q4 24 | 63.1% | 12.0% | ||
| Q3 24 | 65.4% | 3.5% | ||
| Q2 24 | 66.6% | -170.2% | ||
| Q1 24 | 67.2% | -12.1% |
| Q4 25 | 9040.6% | -4.5% | ||
| Q3 25 | 49.7% | -2.6% | ||
| Q2 25 | 35.3% | -2.0% | ||
| Q1 25 | 31.7% | -8.3% | ||
| Q4 24 | 38.1% | -5.8% | ||
| Q3 24 | 50.7% | -11.2% | ||
| Q2 24 | 35.0% | -100.3% | ||
| Q1 24 | 24.3% | -11.4% |
| Q4 25 | $1.18 | $-0.90 | ||
| Q3 25 | $2.68 | $-0.52 | ||
| Q2 25 | $1.88 | $-0.41 | ||
| Q1 25 | $1.66 | $-1.68 | ||
| Q4 24 | $1.99 | $-1.69 | ||
| Q3 24 | $2.61 | $-2.66 | ||
| Q2 24 | $1.78 | $-23.47 | ||
| Q1 24 | $1.22 | $-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 | $187.2M | $106.0M |
| Total DebtLower is stronger | $9.3B | $1.7B |
| Stockholders' EquityBook value | $11.6B | $113.3M |
| Total Assets | $22.2B | $2.7B |
| Debt / EquityLower = less leverage | 0.80× | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $106.0M | ||
| Q3 25 | $123.3M | $140.4M | ||
| Q2 25 | $102.8M | $95.1M | ||
| Q1 25 | $53.3M | $116.3M | ||
| Q4 24 | $108.6M | $104.9M | ||
| Q3 24 | $552.4M | $136.6M | ||
| Q2 24 | $545.8M | $84.9M | ||
| Q1 24 | $287.9M | $152.0M |
| Q4 25 | $9.3B | $1.7B | ||
| Q3 25 | $8.7B | $1.7B | ||
| Q2 25 | $8.7B | — | ||
| Q1 25 | $8.3B | — | ||
| Q4 24 | $8.1B | — | ||
| Q3 24 | $8.4B | — | ||
| Q2 24 | $8.4B | — | ||
| Q1 24 | $8.0B | $1.7B |
| Q4 25 | $11.6B | $113.3M | ||
| Q3 25 | $11.9B | $139.8M | ||
| Q2 25 | $11.9B | $151.8M | ||
| Q1 25 | $11.9B | $154.6M | ||
| Q4 24 | $11.9B | $201.7M | ||
| Q3 24 | $11.9B | $226.1M | ||
| Q2 24 | $11.7B | $283.8M | ||
| Q1 24 | $11.7B | $926.1M |
| Q4 25 | $22.2B | $2.7B | ||
| Q3 25 | $21.9B | $2.8B | ||
| Q2 25 | $21.8B | $2.8B | ||
| Q1 25 | $21.2B | $2.8B | ||
| Q4 24 | $21.0B | $2.8B | ||
| Q3 24 | $21.3B | $3.1B | ||
| Q2 24 | $21.0B | $3.1B | ||
| Q1 24 | $20.6B | $4.0B |
| Q4 25 | 0.80× | 14.89× | ||
| Q3 25 | 0.73× | 12.05× | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.68× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.68× | 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 | $1.7B | — |
| Free Cash FlowOCF − Capex | $1.4B | — |
| FCF MarginFCF / Revenue | 183.5% | — |
| Capex IntensityCapex / Revenue | 34.1% | 1.3% |
| Cash ConversionOCF / Net Profit | 10.07× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | — | ||
| Q3 25 | $477.0M | $52.7M | ||
| Q2 25 | $377.8M | — | ||
| Q1 25 | $415.9M | $27.6M | ||
| Q4 24 | $1.6B | $-23.2M | ||
| Q3 24 | $486.2M | $51.2M | ||
| Q2 24 | $380.0M | $-45.2M | ||
| Q1 24 | $412.9M | $-51.7M |
| Q4 25 | $1.4B | — | ||
| Q3 25 | $402.2M | $48.6M | ||
| Q2 25 | $317.1M | — | ||
| Q1 25 | $367.5M | $15.7M | ||
| Q4 24 | $1.4B | $-30.5M | ||
| Q3 24 | $434.2M | $40.7M | ||
| Q2 24 | $333.0M | $-59.6M | ||
| Q1 24 | $375.4M | $-56.7M |
| Q4 25 | 183.5% | — | ||
| Q3 25 | 52.5% | 7.7% | ||
| Q2 25 | 41.7% | — | ||
| Q1 25 | 49.3% | 2.6% | ||
| Q4 24 | 191.0% | -4.8% | ||
| Q3 24 | 59.1% | 6.2% | ||
| Q2 24 | 45.9% | -9.3% | ||
| Q1 24 | 52.7% | -10.5% |
| Q4 25 | 34.1% | 1.3% | ||
| Q3 25 | 9.8% | 0.7% | ||
| Q2 25 | 8.0% | 0.8% | ||
| Q1 25 | 6.5% | 1.9% | ||
| Q4 24 | 26.1% | 1.1% | ||
| Q3 24 | 7.1% | 1.6% | ||
| Q2 24 | 6.5% | 2.2% | ||
| Q1 24 | 5.3% | 0.9% |
| Q4 25 | 10.07× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.41× | — | ||
| Q1 25 | 1.76× | — | ||
| Q4 24 | 5.70× | — | ||
| Q3 24 | 1.31× | — | ||
| Q2 24 | 1.50× | — | ||
| Q1 24 | 2.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVB
Segment breakdown not available.
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
