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Side-by-side financial comparison of CIRRUS LOGIC, INC. (CRUS) 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 $580.6M, roughly 1.1× CIRRUS LOGIC, INC.). CIRRUS LOGIC, INC. runs the higher net margin — 24.2% vs -4.5%, a 28.7% gap on every dollar of revenue. On growth, CIRRUS LOGIC, INC. posted the faster year-over-year revenue change (4.5% vs -0.3%). Over the past eight quarters, CIRRUS LOGIC, INC.'s revenue compounded faster (25.0% CAGR vs 7.9%).
Cirrus Logic Inc. is an American fabless semiconductor supplier that specializes in analog, mixed-signal, and audio DSP integrated circuits (ICs). Since 1998, the company's headquarters have been in Austin, Texas.
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.
CRUS vs FWRD — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $580.6M | $631.2M |
| Net Profit | $140.3M | $-28.3M |
| Gross Margin | 53.1% | — |
| Operating Margin | 26.3% | -0.5% |
| Net Margin | 24.2% | -4.5% |
| Revenue YoY | 4.5% | -0.3% |
| Net Profit YoY | 21.0% | 22.2% |
| EPS (diluted) | $2.66 | $-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 | $580.6M | $631.2M | ||
| Q3 25 | $561.0M | $631.8M | ||
| Q2 25 | $407.3M | $618.8M | ||
| Q1 25 | $424.5M | $613.3M | ||
| Q4 24 | $555.7M | $632.8M | ||
| Q3 24 | $541.9M | $655.9M | ||
| Q2 24 | $374.0M | $643.7M | ||
| Q1 24 | $371.8M | $541.8M |
| Q4 25 | $140.3M | $-28.3M | ||
| Q3 25 | $131.6M | $-16.3M | ||
| Q2 25 | $60.7M | $-12.6M | ||
| Q1 25 | $71.3M | $-50.6M | ||
| Q4 24 | $116.0M | $-36.4M | ||
| Q3 24 | $102.1M | $-73.4M | ||
| Q2 24 | $42.1M | $-645.4M | ||
| Q1 24 | $44.8M | $-61.7M |
| Q4 25 | 53.1% | — | ||
| Q3 25 | 52.5% | — | ||
| Q2 25 | 52.6% | — | ||
| Q1 25 | 53.4% | — | ||
| Q4 24 | 53.6% | — | ||
| Q3 24 | 52.2% | — | ||
| Q2 24 | 50.5% | — | ||
| Q1 24 | 51.8% | — |
| Q4 25 | 26.3% | -0.5% | ||
| Q3 25 | 25.8% | 2.4% | ||
| Q2 25 | 17.8% | 3.2% | ||
| Q1 25 | 20.2% | 0.8% | ||
| Q4 24 | 26.2% | 12.0% | ||
| Q3 24 | 24.3% | 3.5% | ||
| Q2 24 | 12.5% | -170.2% | ||
| Q1 24 | 14.1% | -12.1% |
| Q4 25 | 24.2% | -4.5% | ||
| Q3 25 | 23.5% | -2.6% | ||
| Q2 25 | 14.9% | -2.0% | ||
| Q1 25 | 16.8% | -8.3% | ||
| Q4 24 | 20.9% | -5.8% | ||
| Q3 24 | 18.8% | -11.2% | ||
| Q2 24 | 11.3% | -100.3% | ||
| Q1 24 | 12.1% | -11.4% |
| Q4 25 | $2.66 | $-0.90 | ||
| Q3 25 | $2.48 | $-0.52 | ||
| Q2 25 | $1.14 | $-0.41 | ||
| Q1 25 | $1.30 | $-1.68 | ||
| Q4 24 | $2.11 | $-1.69 | ||
| Q3 24 | $1.83 | $-2.66 | ||
| Q2 24 | $0.76 | $-23.47 | ||
| Q1 24 | $0.78 | $-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 | $778.1M | $106.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $2.1B | $113.3M |
| Total Assets | $2.5B | $2.7B |
| Debt / EquityLower = less leverage | — | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $778.1M | $106.0M | ||
| Q3 25 | $593.5M | $140.4M | ||
| Q2 25 | $548.9M | $95.1M | ||
| Q1 25 | $539.6M | $116.3M | ||
| Q4 24 | $526.4M | $104.9M | ||
| Q3 24 | $445.8M | $136.6M | ||
| Q2 24 | $491.4M | $84.9M | ||
| Q1 24 | $502.8M | $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 | $2.1B | $113.3M | ||
| Q3 25 | $2.0B | $139.8M | ||
| Q2 25 | $1.9B | $151.8M | ||
| Q1 25 | $1.9B | $154.6M | ||
| Q4 24 | $2.0B | $201.7M | ||
| Q3 24 | $1.9B | $226.1M | ||
| Q2 24 | $1.8B | $283.8M | ||
| Q1 24 | $1.8B | $926.1M |
| Q4 25 | $2.5B | $2.7B | ||
| Q3 25 | $2.4B | $2.8B | ||
| Q2 25 | $2.3B | $2.8B | ||
| Q1 25 | $2.3B | $2.8B | ||
| Q4 24 | $2.4B | $2.8B | ||
| Q3 24 | $2.4B | $3.1B | ||
| Q2 24 | $2.3B | $3.1B | ||
| Q1 24 | $2.2B | $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 | $290.8M | — |
| Free Cash FlowOCF − Capex | $285.7M | — |
| FCF MarginFCF / Revenue | 49.2% | — |
| Capex IntensityCapex / Revenue | 0.9% | 1.3% |
| Cash ConversionOCF / Net Profit | 2.07× | — |
| TTM Free Cash FlowTrailing 4 quarters | $614.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $290.8M | — | ||
| Q3 25 | $92.2M | $52.7M | ||
| Q2 25 | $116.1M | — | ||
| Q1 25 | $130.4M | $27.6M | ||
| Q4 24 | $218.6M | $-23.2M | ||
| Q3 24 | $8.2M | $51.2M | ||
| Q2 24 | $87.2M | $-45.2M | ||
| Q1 24 | $170.5M | $-51.7M |
| Q4 25 | $285.7M | — | ||
| Q3 25 | $88.3M | $48.6M | ||
| Q2 25 | $113.5M | — | ||
| Q1 25 | $127.0M | $15.7M | ||
| Q4 24 | $211.9M | $-30.5M | ||
| Q3 24 | $5.6M | $40.7M | ||
| Q2 24 | $77.2M | $-59.6M | ||
| Q1 24 | $163.5M | $-56.7M |
| Q4 25 | 49.2% | — | ||
| Q3 25 | 15.7% | 7.7% | ||
| Q2 25 | 27.9% | — | ||
| Q1 25 | 29.9% | 2.6% | ||
| Q4 24 | 38.1% | -4.8% | ||
| Q3 24 | 1.0% | 6.2% | ||
| Q2 24 | 20.6% | -9.3% | ||
| Q1 24 | 44.0% | -10.5% |
| Q4 25 | 0.9% | 1.3% | ||
| Q3 25 | 0.7% | 0.7% | ||
| Q2 25 | 0.6% | 0.8% | ||
| Q1 25 | 0.8% | 1.9% | ||
| Q4 24 | 1.2% | 1.1% | ||
| Q3 24 | 0.5% | 1.6% | ||
| Q2 24 | 2.7% | 2.2% | ||
| Q1 24 | 1.9% | 0.9% |
| Q4 25 | 2.07× | — | ||
| Q3 25 | 0.70× | — | ||
| Q2 25 | 1.91× | — | ||
| Q1 25 | 1.83× | — | ||
| Q4 24 | 1.88× | — | ||
| Q3 24 | 0.08× | — | ||
| Q2 24 | 2.07× | — | ||
| Q1 24 | 3.80× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRUS
| Audio Products Segment | $344.5M | 59% |
| High Performance Mixed Signal Products | $236.2M | 41% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
