vs
Side-by-side financial comparison of DIODES INC (DIOD) 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 $391.6M, roughly 1.6× DIODES INC). DIODES INC runs the higher net margin — 2.6% vs -4.5%, a 7.1% gap on every dollar of revenue. On growth, DIODES INC posted the faster year-over-year revenue change (15.4% vs -0.3%). Over the past eight quarters, DIODES INC's revenue compounded faster (13.9% CAGR vs 7.9%).
Diodes Incorporated is a global semiconductor manufacturer that designs, produces and supplies discrete, analog and mixed-signal semiconductor products. Its solutions serve key end markets including automotive, industrial, consumer electronics, personal computing and communications infrastructure, with a worldwide customer base.
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.
DIOD vs FWRD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $391.6M | $631.2M |
| Net Profit | $10.2M | $-28.3M |
| Gross Margin | 31.1% | — |
| Operating Margin | 3.4% | -0.5% |
| Net Margin | 2.6% | -4.5% |
| Revenue YoY | 15.4% | -0.3% |
| Net Profit YoY | 23.8% | 22.2% |
| EPS (diluted) | $0.23 | $-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 | $391.6M | $631.2M | ||
| Q3 25 | $392.2M | $631.8M | ||
| Q2 25 | $366.2M | $618.8M | ||
| Q1 25 | $332.1M | $613.3M | ||
| Q4 24 | $339.3M | $632.8M | ||
| Q3 24 | $350.1M | $655.9M | ||
| Q2 24 | $319.8M | $643.7M | ||
| Q1 24 | $302.0M | $541.8M |
| Q4 25 | $10.2M | $-28.3M | ||
| Q3 25 | $14.3M | $-16.3M | ||
| Q2 25 | $46.1M | $-12.6M | ||
| Q1 25 | $-4.4M | $-50.6M | ||
| Q4 24 | $8.2M | $-36.4M | ||
| Q3 24 | $13.7M | $-73.4M | ||
| Q2 24 | $8.0M | $-645.4M | ||
| Q1 24 | $14.0M | $-61.7M |
| Q4 25 | 31.1% | — | ||
| Q3 25 | 30.7% | — | ||
| Q2 25 | 31.5% | — | ||
| Q1 25 | 31.5% | — | ||
| Q4 24 | 32.7% | — | ||
| Q3 24 | 33.7% | — | ||
| Q2 24 | 33.6% | — | ||
| Q1 24 | 33.0% | — |
| Q4 25 | 3.4% | -0.5% | ||
| Q3 25 | 3.0% | 2.4% | ||
| Q2 25 | 2.6% | 3.2% | ||
| Q1 25 | 0.4% | 0.8% | ||
| Q4 24 | 3.5% | 12.0% | ||
| Q3 24 | 6.2% | 3.5% | ||
| Q2 24 | 1.2% | -170.2% | ||
| Q1 24 | 4.3% | -12.1% |
| Q4 25 | 2.6% | -4.5% | ||
| Q3 25 | 3.6% | -2.6% | ||
| Q2 25 | 12.6% | -2.0% | ||
| Q1 25 | -1.3% | -8.3% | ||
| Q4 24 | 2.4% | -5.8% | ||
| Q3 24 | 3.9% | -11.2% | ||
| Q2 24 | 2.5% | -100.3% | ||
| Q1 24 | 4.6% | -11.4% |
| Q4 25 | $0.23 | $-0.90 | ||
| Q3 25 | $0.31 | $-0.52 | ||
| Q2 25 | $0.99 | $-0.41 | ||
| Q1 25 | $-0.10 | $-1.68 | ||
| Q4 24 | $0.18 | $-1.69 | ||
| Q3 24 | $0.30 | $-2.66 | ||
| Q2 24 | $0.17 | $-23.47 | ||
| Q1 24 | $0.30 | $-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 | $377.0M | $106.0M |
| Total DebtLower is stronger | $25.7M | $1.7B |
| Stockholders' EquityBook value | $1.9B | $113.3M |
| Total Assets | $2.4B | $2.7B |
| Debt / EquityLower = less leverage | 0.01× | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $377.0M | $106.0M | ||
| Q3 25 | $386.4M | $140.4M | ||
| Q2 25 | $327.3M | $95.1M | ||
| Q1 25 | $343.9M | $116.3M | ||
| Q4 24 | $316.1M | $104.9M | ||
| Q3 24 | $319.3M | $136.6M | ||
| Q2 24 | $273.9M | $84.9M | ||
| Q1 24 | $276.0M | $152.0M |
| Q4 25 | $25.7M | $1.7B | ||
| Q3 25 | $24.9M | $1.7B | ||
| Q2 25 | $26.4M | — | ||
| Q1 25 | $20.5M | — | ||
| Q4 24 | $20.7M | — | ||
| Q3 24 | $22.2M | — | ||
| Q2 24 | $20.3M | — | ||
| Q1 24 | $20.9M | $1.7B |
| Q4 25 | $1.9B | $113.3M | ||
| Q3 25 | $1.9B | $139.8M | ||
| Q2 25 | $1.9B | $151.8M | ||
| Q1 25 | $1.8B | $154.6M | ||
| Q4 24 | $1.8B | $201.7M | ||
| Q3 24 | $1.8B | $226.1M | ||
| Q2 24 | $1.8B | $283.8M | ||
| Q1 24 | $1.7B | $926.1M |
| Q4 25 | $2.4B | $2.7B | ||
| Q3 25 | $2.5B | $2.8B | ||
| Q2 25 | $2.5B | $2.8B | ||
| Q1 25 | $2.4B | $2.8B | ||
| Q4 24 | $2.4B | $2.8B | ||
| Q3 24 | $2.4B | $3.1B | ||
| Q2 24 | $2.4B | $3.1B | ||
| Q1 24 | $2.4B | $4.0B |
| Q4 25 | 0.01× | 14.89× | ||
| Q3 25 | 0.01× | 12.05× | ||
| Q2 25 | 0.01× | — | ||
| Q1 25 | 0.01× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | 0.01× | — | ||
| Q2 24 | 0.01× | — | ||
| Q1 24 | 0.01× | 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 | $38.1M | — |
| Free Cash FlowOCF − Capex | $12.4M | — |
| FCF MarginFCF / Revenue | 3.2% | — |
| Capex IntensityCapex / Revenue | 6.6% | 1.3% |
| Cash ConversionOCF / Net Profit | 3.74× | — |
| TTM Free Cash FlowTrailing 4 quarters | $137.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.1M | — | ||
| Q3 25 | $79.1M | $52.7M | ||
| Q2 25 | $41.5M | — | ||
| Q1 25 | $56.7M | $27.6M | ||
| Q4 24 | $81.8M | $-23.2M | ||
| Q3 24 | $54.4M | $51.2M | ||
| Q2 24 | $14.4M | $-45.2M | ||
| Q1 24 | $-31.1M | $-51.7M |
| Q4 25 | $12.4M | — | ||
| Q3 25 | $62.8M | $48.6M | ||
| Q2 25 | $21.1M | — | ||
| Q1 25 | $40.8M | $15.7M | ||
| Q4 24 | $62.1M | $-30.5M | ||
| Q3 24 | $39.4M | $40.7M | ||
| Q2 24 | $-3.5M | $-59.6M | ||
| Q1 24 | $-51.5M | $-56.7M |
| Q4 25 | 3.2% | — | ||
| Q3 25 | 16.0% | 7.7% | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 12.3% | 2.6% | ||
| Q4 24 | 18.3% | -4.8% | ||
| Q3 24 | 11.2% | 6.2% | ||
| Q2 24 | -1.1% | -9.3% | ||
| Q1 24 | -17.1% | -10.5% |
| Q4 25 | 6.6% | 1.3% | ||
| Q3 25 | 4.2% | 0.7% | ||
| Q2 25 | 5.6% | 0.8% | ||
| Q1 25 | 4.8% | 1.9% | ||
| Q4 24 | 5.8% | 1.1% | ||
| Q3 24 | 4.3% | 1.6% | ||
| Q2 24 | 5.6% | 2.2% | ||
| Q1 24 | 6.7% | 0.9% |
| Q4 25 | 3.74× | — | ||
| Q3 25 | 5.54× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 9.93× | — | ||
| Q3 24 | 3.95× | — | ||
| Q2 24 | 1.80× | — | ||
| Q1 24 | -2.22× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DIOD
| Distributor | $253.1M | 65% |
| Direct Sales | $138.5M | 35% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
