vs
Side-by-side financial comparison of EZCORP INC (EZPW) 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 $382.0M, roughly 1.7× EZCORP INC). EZCORP INC runs the higher net margin — 11.6% vs -4.5%, a 16.1% gap on every dollar of revenue. On growth, EZCORP INC posted the faster year-over-year revenue change (19.3% vs -0.3%). Over the past eight quarters, EZCORP INC's revenue compounded faster (15.6% CAGR vs 7.9%).
EZCORP, Inc. is an American pawn shop operator based in Austin, Texas which provides services across the United States and Latin America. It is a publicly traded company listed on the NASDAQ stock exchange and is the second largest pawn shop operator in the U.S. after Cash America International.
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.
EZPW vs FWRD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $382.0M | $631.2M |
| Net Profit | $44.3M | $-28.3M |
| Gross Margin | 58.4% | — |
| Operating Margin | 15.9% | -0.5% |
| Net Margin | 11.6% | -4.5% |
| Revenue YoY | 19.3% | -0.3% |
| Net Profit YoY | 42.8% | 22.2% |
| EPS (diluted) | $0.55 | $-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 | $382.0M | $631.2M | ||
| Q3 25 | $336.8M | $631.8M | ||
| Q2 25 | $311.0M | $618.8M | ||
| Q1 25 | $306.3M | $613.3M | ||
| Q4 24 | $320.2M | $632.8M | ||
| Q3 24 | $294.6M | $655.9M | ||
| Q2 24 | $281.4M | $643.7M | ||
| Q1 24 | $285.6M | $541.8M |
| Q4 25 | $44.3M | $-28.3M | ||
| Q3 25 | $26.7M | $-16.3M | ||
| Q2 25 | $26.5M | $-12.6M | ||
| Q1 25 | $25.4M | $-50.6M | ||
| Q4 24 | $31.0M | $-36.4M | ||
| Q3 24 | $15.2M | $-73.4M | ||
| Q2 24 | $17.9M | $-645.4M | ||
| Q1 24 | $21.5M | $-61.7M |
| Q4 25 | 58.4% | — | ||
| Q3 25 | 59.0% | — | ||
| Q2 25 | 59.1% | — | ||
| Q1 25 | 58.3% | — | ||
| Q4 24 | 57.9% | — | ||
| Q3 24 | 59.5% | — | ||
| Q2 24 | 59.2% | — | ||
| Q1 24 | 58.7% | — |
| Q4 25 | 15.9% | -0.5% | ||
| Q3 25 | 11.0% | 2.4% | ||
| Q2 25 | 11.6% | 3.2% | ||
| Q1 25 | 11.2% | 0.8% | ||
| Q4 24 | 13.1% | 12.0% | ||
| Q3 24 | 8.8% | 3.5% | ||
| Q2 24 | 7.9% | -170.2% | ||
| Q1 24 | 9.6% | -12.1% |
| Q4 25 | 11.6% | -4.5% | ||
| Q3 25 | 7.9% | -2.6% | ||
| Q2 25 | 8.5% | -2.0% | ||
| Q1 25 | 8.3% | -8.3% | ||
| Q4 24 | 9.7% | -5.8% | ||
| Q3 24 | 5.2% | -11.2% | ||
| Q2 24 | 6.4% | -100.3% | ||
| Q1 24 | 7.5% | -11.4% |
| Q4 25 | $0.55 | $-0.90 | ||
| Q3 25 | $0.35 | $-0.52 | ||
| Q2 25 | $0.34 | $-0.41 | ||
| Q1 25 | $0.33 | $-1.68 | ||
| Q4 24 | $0.40 | $-1.69 | ||
| Q3 24 | $0.20 | $-2.66 | ||
| Q2 24 | $0.25 | $-23.47 | ||
| Q1 24 | $0.29 | $-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 | $465.9M | $106.0M |
| Total DebtLower is stronger | $518.6M | $1.7B |
| Stockholders' EquityBook value | $1.1B | $113.3M |
| Total Assets | $2.0B | $2.7B |
| Debt / EquityLower = less leverage | 0.48× | 14.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $465.9M | $106.0M | ||
| Q3 25 | $469.5M | $140.4M | ||
| Q2 25 | $472.1M | $95.1M | ||
| Q1 25 | $505.2M | $116.3M | ||
| Q4 24 | $174.5M | $104.9M | ||
| Q3 24 | $170.5M | $136.6M | ||
| Q2 24 | $218.0M | $84.9M | ||
| Q1 24 | $229.1M | $152.0M |
| Q4 25 | $518.6M | $1.7B | ||
| Q3 25 | $518.1M | $1.7B | ||
| Q2 25 | $517.6M | — | ||
| Q1 25 | $620.5M | — | ||
| Q4 24 | $327.7M | — | ||
| Q3 24 | $327.3M | — | ||
| Q2 24 | $361.3M | — | ||
| Q1 24 | $360.9M | $1.7B |
| Q4 25 | $1.1B | $113.3M | ||
| Q3 25 | $1.0B | $139.8M | ||
| Q2 25 | $990.1M | $151.8M | ||
| Q1 25 | $851.6M | $154.6M | ||
| Q4 24 | $823.9M | $201.7M | ||
| Q3 24 | $804.6M | $226.1M | ||
| Q2 24 | $801.5M | $283.8M | ||
| Q1 24 | $800.4M | $926.1M |
| Q4 25 | $2.0B | $2.7B | ||
| Q3 25 | $2.0B | $2.8B | ||
| Q2 25 | $1.9B | $2.8B | ||
| Q1 25 | $1.8B | $2.8B | ||
| Q4 24 | $1.5B | $2.8B | ||
| Q3 24 | $1.5B | $3.1B | ||
| Q2 24 | $1.5B | $3.1B | ||
| Q1 24 | $1.5B | $4.0B |
| Q4 25 | 0.48× | 14.89× | ||
| Q3 25 | 0.51× | 12.05× | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.73× | — | ||
| Q4 24 | 0.40× | — | ||
| Q3 24 | 0.41× | — | ||
| Q2 24 | 0.45× | — | ||
| Q1 24 | 0.45× | 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 | $39.1M | — |
| Free Cash FlowOCF − Capex | $31.7M | — |
| FCF MarginFCF / Revenue | 8.3% | — |
| Capex IntensityCapex / Revenue | 2.0% | 1.3% |
| Cash ConversionOCF / Net Profit | 0.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | $121.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $39.1M | — | ||
| Q3 25 | $51.3M | $52.7M | ||
| Q2 25 | $34.8M | — | ||
| Q1 25 | $36.9M | $27.6M | ||
| Q4 24 | $26.0M | $-23.2M | ||
| Q3 24 | $43.3M | $51.2M | ||
| Q2 24 | $33.7M | $-45.2M | ||
| Q1 24 | $15.1M | $-51.7M |
| Q4 25 | $31.7M | — | ||
| Q3 25 | $35.7M | $48.6M | ||
| Q2 25 | $25.7M | — | ||
| Q1 25 | $28.6M | $15.7M | ||
| Q4 24 | $20.4M | $-30.5M | ||
| Q3 24 | $24.4M | $40.7M | ||
| Q2 24 | $30.5M | $-59.6M | ||
| Q1 24 | $8.6M | $-56.7M |
| Q4 25 | 8.3% | — | ||
| Q3 25 | 10.6% | 7.7% | ||
| Q2 25 | 8.3% | — | ||
| Q1 25 | 9.3% | 2.6% | ||
| Q4 24 | 6.4% | -4.8% | ||
| Q3 24 | 8.3% | 6.2% | ||
| Q2 24 | 10.8% | -9.3% | ||
| Q1 24 | 3.0% | -10.5% |
| Q4 25 | 2.0% | 1.3% | ||
| Q3 25 | 4.6% | 0.7% | ||
| Q2 25 | 2.9% | 0.8% | ||
| Q1 25 | 2.7% | 1.9% | ||
| Q4 24 | 1.8% | 1.1% | ||
| Q3 24 | 6.4% | 1.6% | ||
| Q2 24 | 1.1% | 2.2% | ||
| Q1 24 | 2.3% | 0.9% |
| Q4 25 | 0.88× | — | ||
| Q3 25 | 1.92× | — | ||
| Q2 25 | 1.31× | — | ||
| Q1 25 | 1.45× | — | ||
| Q4 24 | 0.84× | — | ||
| Q3 24 | 2.85× | — | ||
| Q2 24 | 1.88× | — | ||
| Q1 24 | 0.70× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EZPW
| Merchandise | $210.1M | 55% |
| Pawn Service | $131.9M | 35% |
| Jewelry Scrap | $39.9M | 10% |
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
