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Side-by-side financial comparison of Datadog (DDOG) and FORWARD AIR CORP (FWRD). Click either name above to swap in a different company.
Datadog is the larger business by last-quarter revenue ($953.2M vs $631.2M, roughly 1.5× FORWARD AIR CORP). Datadog runs the higher net margin — 4.9% vs -4.5%, a 9.4% gap on every dollar of revenue. On growth, Datadog posted the faster year-over-year revenue change (29.2% vs -0.3%). Over the past eight quarters, Datadog's revenue compounded faster (24.9% CAGR vs 7.9%).
Datadog, Inc. is an American company that provides an observability service for cloud-scale applications, providing monitoring of servers, databases, tools, and services, through a SaaS-based data analytics platform. Founded and headquartered in New York City, the company is a publicly traded entity on the Nasdaq stock exchange.
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.
DDOG vs FWRD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $953.2M | $631.2M |
| Net Profit | $46.6M | $-28.3M |
| Gross Margin | 80.4% | — |
| Operating Margin | 1.0% | -0.5% |
| Net Margin | 4.9% | -4.5% |
| Revenue YoY | 29.2% | -0.3% |
| Net Profit YoY | 2.1% | 22.2% |
| EPS (diluted) | $0.13 | $-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 | $953.2M | $631.2M | ||
| Q3 25 | $885.7M | $631.8M | ||
| Q2 25 | $826.8M | $618.8M | ||
| Q1 25 | $761.6M | $613.3M | ||
| Q4 24 | $737.7M | $632.8M | ||
| Q3 24 | $690.0M | $655.9M | ||
| Q2 24 | $645.3M | $643.7M | ||
| Q1 24 | $611.3M | $541.8M |
| Q4 25 | $46.6M | $-28.3M | ||
| Q3 25 | $33.9M | $-16.3M | ||
| Q2 25 | $2.6M | $-12.6M | ||
| Q1 25 | $24.6M | $-50.6M | ||
| Q4 24 | $45.6M | $-36.4M | ||
| Q3 24 | $51.7M | $-73.4M | ||
| Q2 24 | $43.8M | $-645.4M | ||
| Q1 24 | $42.6M | $-61.7M |
| Q4 25 | 80.4% | — | ||
| Q3 25 | 80.1% | — | ||
| Q2 25 | 79.9% | — | ||
| Q1 25 | 79.3% | — | ||
| Q4 24 | 80.5% | — | ||
| Q3 24 | 80.0% | — | ||
| Q2 24 | 80.9% | — | ||
| Q1 24 | 82.0% | — |
| Q4 25 | 1.0% | -0.5% | ||
| Q3 25 | -0.7% | 2.4% | ||
| Q2 25 | -4.3% | 3.2% | ||
| Q1 25 | -1.6% | 0.8% | ||
| Q4 24 | 1.3% | 12.0% | ||
| Q3 24 | 2.9% | 3.5% | ||
| Q2 24 | 2.0% | -170.2% | ||
| Q1 24 | 2.0% | -12.1% |
| Q4 25 | 4.9% | -4.5% | ||
| Q3 25 | 3.8% | -2.6% | ||
| Q2 25 | 0.3% | -2.0% | ||
| Q1 25 | 3.2% | -8.3% | ||
| Q4 24 | 6.2% | -5.8% | ||
| Q3 24 | 7.5% | -11.2% | ||
| Q2 24 | 6.8% | -100.3% | ||
| Q1 24 | 7.0% | -11.4% |
| Q4 25 | $0.13 | $-0.90 | ||
| Q3 25 | $0.10 | $-0.52 | ||
| Q2 25 | $0.01 | $-0.41 | ||
| Q1 25 | $0.07 | $-1.68 | ||
| Q4 24 | $0.14 | $-1.69 | ||
| Q3 24 | $0.14 | $-2.66 | ||
| Q2 24 | $0.12 | $-23.47 | ||
| Q1 24 | $0.12 | $-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 | $401.3M | $106.0M |
| Total DebtLower is stronger | — | $1.7B |
| Stockholders' EquityBook value | $3.7B | $113.3M |
| Total Assets | $6.6B | $2.7B |
| Debt / EquityLower = less leverage | — | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $401.3M | $106.0M | ||
| Q3 25 | $540.6M | $140.4M | ||
| Q2 25 | $489.0M | $95.1M | ||
| Q1 25 | $1.1B | $116.3M | ||
| Q4 24 | $1.2B | $104.9M | ||
| Q3 24 | $337.4M | $136.6M | ||
| Q2 24 | $411.0M | $84.9M | ||
| Q1 24 | $282.2M | $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 | $3.7B | $113.3M | ||
| Q3 25 | $3.4B | $139.8M | ||
| Q2 25 | $3.2B | $151.8M | ||
| Q1 25 | $2.9B | $154.6M | ||
| Q4 24 | $2.7B | $201.7M | ||
| Q3 24 | $2.6B | $226.1M | ||
| Q2 24 | $2.4B | $283.8M | ||
| Q1 24 | $2.2B | $926.1M |
| Q4 25 | $6.6B | $2.7B | ||
| Q3 25 | $6.1B | $2.8B | ||
| Q2 25 | $5.8B | $2.8B | ||
| Q1 25 | $6.0B | $2.8B | ||
| Q4 24 | $5.8B | $2.8B | ||
| Q3 24 | $4.6B | $3.1B | ||
| Q2 24 | $4.4B | $3.1B | ||
| Q1 24 | $4.1B | $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 | $327.1M | — |
| Free Cash FlowOCF − Capex | $318.2M | — |
| FCF MarginFCF / Revenue | 33.4% | — |
| Capex IntensityCapex / Revenue | 0.9% | 1.3% |
| Cash ConversionOCF / Net Profit | 7.02× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.0B | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $327.1M | — | ||
| Q3 25 | $251.5M | $52.7M | ||
| Q2 25 | $200.1M | — | ||
| Q1 25 | $271.5M | $27.6M | ||
| Q4 24 | $265.2M | $-23.2M | ||
| Q3 24 | $228.7M | $51.2M | ||
| Q2 24 | $164.4M | $-45.2M | ||
| Q1 24 | $212.3M | $-51.7M |
| Q4 25 | $318.2M | — | ||
| Q3 25 | $234.7M | $48.6M | ||
| Q2 25 | $184.9M | — | ||
| Q1 25 | $262.8M | $15.7M | ||
| Q4 24 | $257.5M | $-30.5M | ||
| Q3 24 | $220.3M | $40.7M | ||
| Q2 24 | $160.0M | $-59.6M | ||
| Q1 24 | $198.1M | $-56.7M |
| Q4 25 | 33.4% | — | ||
| Q3 25 | 26.5% | 7.7% | ||
| Q2 25 | 22.4% | — | ||
| Q1 25 | 34.5% | 2.6% | ||
| Q4 24 | 34.9% | -4.8% | ||
| Q3 24 | 31.9% | 6.2% | ||
| Q2 24 | 24.8% | -9.3% | ||
| Q1 24 | 32.4% | -10.5% |
| Q4 25 | 0.9% | 1.3% | ||
| Q3 25 | 1.9% | 0.7% | ||
| Q2 25 | 1.8% | 0.8% | ||
| Q1 25 | 1.1% | 1.9% | ||
| Q4 24 | 1.1% | 1.1% | ||
| Q3 24 | 1.2% | 1.6% | ||
| Q2 24 | 0.7% | 2.2% | ||
| Q1 24 | 2.3% | 0.9% |
| Q4 25 | 7.02× | — | ||
| Q3 25 | 7.42× | — | ||
| Q2 25 | 75.58× | — | ||
| Q1 25 | 11.02× | — | ||
| Q4 24 | 5.82× | — | ||
| Q3 24 | 4.42× | — | ||
| Q2 24 | 3.75× | — | ||
| Q1 24 | 4.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DDOG
| North America | $678.7M | 71% |
| International | $274.5M | 29% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
