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Side-by-side financial comparison of BXP, Inc. (BXP) and FORWARD AIR CORP (FWRD). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $631.2M, roughly 1.4× FORWARD AIR CORP). BXP, Inc. runs the higher net margin — 15.3% vs -4.5%, a 19.7% gap on every dollar of revenue. On growth, BXP, Inc. posted the faster year-over-year revenue change (0.8% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs 1.3%).
BXP Inc., operating as Boston Properties, is a leading U.S. real estate investment trust focused on owning, managing and developing high-quality Class A commercial office properties across major U.S. metro markets, serving diverse corporate, tech and professional service tenants.
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.
BXP vs FWRD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $631.2M |
| Net Profit | $133.0M | $-28.3M |
| Gross Margin | — | — |
| Operating Margin | — | -0.5% |
| Net Margin | 15.3% | -4.5% |
| Revenue YoY | 0.8% | -0.3% |
| Net Profit YoY | 53.0% | 22.2% |
| EPS (diluted) | $1.69 | $-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.
| Q1 26 | $872.1M | — | ||
| Q4 25 | $877.1M | $631.2M | ||
| Q3 25 | $871.5M | $631.8M | ||
| Q2 25 | $868.5M | $618.8M | ||
| Q1 25 | $865.2M | $613.3M | ||
| Q4 24 | $858.6M | $632.8M | ||
| Q3 24 | $859.2M | $655.9M | ||
| Q2 24 | $850.5M | $643.7M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-28.3M | ||
| Q3 25 | $-121.7M | $-16.3M | ||
| Q2 25 | $89.0M | $-12.6M | ||
| Q1 25 | $61.2M | $-50.6M | ||
| Q4 24 | $-228.9M | $-36.4M | ||
| Q3 24 | $83.6M | $-73.4M | ||
| Q2 24 | $79.6M | $-645.4M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | — | ||
| Q3 25 | 59.3% | — | ||
| Q2 25 | 59.2% | — | ||
| Q1 25 | 59.2% | — | ||
| Q4 24 | 59.7% | — | ||
| Q3 24 | 59.5% | — | ||
| Q2 24 | 59.8% | — |
| Q1 26 | — | — | ||
| 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 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -4.5% | ||
| Q3 25 | -14.0% | -2.6% | ||
| Q2 25 | 10.2% | -2.0% | ||
| Q1 25 | 7.1% | -8.3% | ||
| Q4 24 | -26.7% | -5.8% | ||
| Q3 24 | 9.7% | -11.2% | ||
| Q2 24 | 9.4% | -100.3% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $-0.90 | ||
| Q3 25 | $-0.77 | $-0.52 | ||
| Q2 25 | $0.56 | $-0.41 | ||
| Q1 25 | $0.39 | $-1.68 | ||
| Q4 24 | $-1.46 | $-1.69 | ||
| Q3 24 | $0.53 | $-2.66 | ||
| Q2 24 | $0.51 | $-23.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $512.8M | $106.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $7.7B | $113.3M |
| Total Assets | $25.1B | $2.7B |
| Debt / EquityLower = less leverage | — | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $106.0M | ||
| Q3 25 | $861.1M | $140.4M | ||
| Q2 25 | $447.0M | $95.1M | ||
| Q1 25 | $398.1M | $116.3M | ||
| Q4 24 | $1.3B | $104.9M | ||
| Q3 24 | $1.4B | $136.6M | ||
| Q2 24 | $685.4M | $84.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $7.7B | — | ||
| Q4 25 | $5.1B | $113.3M | ||
| Q3 25 | $5.0B | $139.8M | ||
| Q2 25 | $5.3B | $151.8M | ||
| Q1 25 | $5.3B | $154.6M | ||
| Q4 24 | $5.4B | $201.7M | ||
| Q3 24 | $5.8B | $226.1M | ||
| Q2 24 | $5.8B | $283.8M |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $2.7B | ||
| Q3 25 | $26.0B | $2.8B | ||
| Q2 25 | $25.6B | $2.8B | ||
| Q1 25 | $25.4B | $2.8B | ||
| Q4 24 | $26.1B | $2.8B | ||
| Q3 24 | $26.4B | $3.1B | ||
| Q2 24 | $25.5B | $3.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 14.89× | ||
| Q3 25 | — | 12.05× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BXP
| Lease | $818.2M | 94% |
| Parking and other | $30.8M | 4% |
| Development and management services | $9.2M | 1% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
