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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and GUESS INC (GES). Click either name above to swap in a different company.
GUESS INC is the larger business by last-quarter revenue ($791.4M vs $631.2M, roughly 1.3× FORWARD AIR CORP). GUESS INC runs the higher net margin — 3.2% vs -4.5%, a 7.7% gap on every dollar of revenue. On growth, GUESS INC posted the faster year-over-year revenue change (7.2% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs -5.8%).
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.
Guess?, Inc. is an American clothing company, notable for its black-and-white advertisements. It licenses its brand on other fashion accessories, such as watches, jewelry, perfumes, bags and shoes.
FWRD vs GES — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $791.4M |
| Net Profit | $-28.3M | $25.6M |
| Gross Margin | — | 42.5% |
| Operating Margin | -0.5% | 2.9% |
| Net Margin | -4.5% | 3.2% |
| Revenue YoY | -0.3% | 7.2% |
| Net Profit YoY | 22.2% | 209.6% |
| EPS (diluted) | $-0.90 | $0.48 |
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 | $631.2M | $791.4M | ||
| Q3 25 | $631.8M | $772.9M | ||
| Q2 25 | $618.8M | $647.8M | ||
| Q1 25 | $613.3M | $932.3M | ||
| Q4 24 | $632.8M | $738.5M | ||
| Q3 24 | $655.9M | $732.6M | ||
| Q2 24 | $643.7M | $591.9M | ||
| Q1 24 | $541.8M | $891.0M |
| Q4 25 | $-28.3M | $25.6M | ||
| Q3 25 | $-16.3M | $6.2M | ||
| Q2 25 | $-12.6M | $-32.9M | ||
| Q1 25 | $-50.6M | $81.4M | ||
| Q4 24 | $-36.4M | $-23.4M | ||
| Q3 24 | $-73.4M | $-10.6M | ||
| Q2 24 | $-645.4M | $13.0M | ||
| Q1 24 | $-61.7M | $115.3M |
| Q4 25 | — | 42.5% | ||
| Q3 25 | — | 42.5% | ||
| Q2 25 | — | 39.9% | ||
| Q1 25 | — | 44.1% | ||
| Q4 24 | — | 43.6% | ||
| Q3 24 | — | 43.7% | ||
| Q2 24 | — | 41.9% | ||
| Q1 24 | — | 45.4% |
| Q4 25 | -0.5% | 2.9% | ||
| Q3 25 | 2.4% | 2.3% | ||
| Q2 25 | 3.2% | -5.1% | ||
| Q1 25 | 0.8% | 11.1% | ||
| Q4 24 | 12.0% | 5.7% | ||
| Q3 24 | 3.5% | 6.5% | ||
| Q2 24 | -170.2% | -3.4% | ||
| Q1 24 | -12.1% | 16.3% |
| Q4 25 | -4.5% | 3.2% | ||
| Q3 25 | -2.6% | 0.8% | ||
| Q2 25 | -2.0% | -5.1% | ||
| Q1 25 | -8.3% | 8.7% | ||
| Q4 24 | -5.8% | -3.2% | ||
| Q3 24 | -11.2% | -1.4% | ||
| Q2 24 | -100.3% | 2.2% | ||
| Q1 24 | -11.4% | 12.9% |
| Q4 25 | $-0.90 | $0.48 | ||
| Q3 25 | $-0.52 | $0.12 | ||
| Q2 25 | $-0.41 | $-0.65 | ||
| Q1 25 | $-1.68 | $1.29 | ||
| Q4 24 | $-1.69 | $-0.47 | ||
| Q3 24 | $-2.66 | $-0.28 | ||
| Q2 24 | $-23.47 | $0.23 | ||
| Q1 24 | $-2.81 | $1.90 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $106.0M | $154.2M |
| Total DebtLower is stronger | $1.7B | $299.5M |
| Stockholders' EquityBook value | $113.3M | $508.5M |
| Total Assets | $2.7B | $3.0B |
| Debt / EquityLower = less leverage | 14.89× | 0.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $154.2M | ||
| Q3 25 | $140.4M | $189.6M | ||
| Q2 25 | $95.1M | $151.2M | ||
| Q1 25 | $116.3M | $187.7M | ||
| Q4 24 | $104.9M | $140.9M | ||
| Q3 24 | $136.6M | $218.9M | ||
| Q2 24 | $84.9M | $241.7M | ||
| Q1 24 | $152.0M | $360.3M |
| Q4 25 | $1.7B | $299.5M | ||
| Q3 25 | $1.7B | $258.4M | ||
| Q2 25 | — | $241.7M | ||
| Q1 25 | — | $150.7M | ||
| Q4 24 | — | $238.3M | ||
| Q3 24 | — | $187.8M | ||
| Q2 24 | — | $196.9M | ||
| Q1 24 | $1.7B | $28.2M |
| Q4 25 | $113.3M | $508.5M | ||
| Q3 25 | $139.8M | $487.6M | ||
| Q2 25 | $151.8M | $483.6M | ||
| Q1 25 | $154.6M | $505.0M | ||
| Q4 24 | $201.7M | $450.7M | ||
| Q3 24 | $226.1M | $491.2M | ||
| Q2 24 | $283.8M | $565.5M | ||
| Q1 24 | $926.1M | $684.9M |
| Q4 25 | $2.7B | $3.0B | ||
| Q3 25 | $2.8B | $3.0B | ||
| Q2 25 | $2.8B | $2.9B | ||
| Q1 25 | $2.8B | $2.8B | ||
| Q4 24 | $2.8B | $2.8B | ||
| Q3 24 | $3.1B | $2.8B | ||
| Q2 24 | $3.1B | $2.7B | ||
| Q1 24 | $4.0B | $2.6B |
| Q4 25 | 14.89× | 0.59× | ||
| Q3 25 | 12.05× | 0.53× | ||
| Q2 25 | — | 0.50× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 0.53× | ||
| Q3 24 | — | 0.38× | ||
| Q2 24 | — | 0.35× | ||
| Q1 24 | 1.81× | 0.04× |
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 | — | $-39.5M |
| Free Cash FlowOCF − Capex | — | $-56.3M |
| FCF MarginFCF / Revenue | — | -7.1% |
| Capex IntensityCapex / Revenue | 1.3% | 2.1% |
| Cash ConversionOCF / Net Profit | — | -1.54× |
| TTM Free Cash FlowTrailing 4 quarters | — | $62.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-39.5M | ||
| Q3 25 | $52.7M | $74.9M | ||
| Q2 25 | — | $-73.4M | ||
| Q1 25 | $27.6M | $183.2M | ||
| Q4 24 | $-23.2M | $-83.3M | ||
| Q3 24 | $51.2M | $44.7M | ||
| Q2 24 | $-45.2M | $-22.9M | ||
| Q1 24 | $-51.7M | $289.5M |
| Q4 25 | — | $-56.3M | ||
| Q3 25 | $48.6M | $53.4M | ||
| Q2 25 | — | $-95.3M | ||
| Q1 25 | $15.7M | $160.7M | ||
| Q4 24 | $-30.5M | $-105.4M | ||
| Q3 24 | $40.7M | $24.3M | ||
| Q2 24 | $-59.6M | $-44.0M | ||
| Q1 24 | $-56.7M | $267.8M |
| Q4 25 | — | -7.1% | ||
| Q3 25 | 7.7% | 6.9% | ||
| Q2 25 | — | -14.7% | ||
| Q1 25 | 2.6% | 17.2% | ||
| Q4 24 | -4.8% | -14.3% | ||
| Q3 24 | 6.2% | 3.3% | ||
| Q2 24 | -9.3% | -7.4% | ||
| Q1 24 | -10.5% | 30.1% |
| Q4 25 | 1.3% | 2.1% | ||
| Q3 25 | 0.7% | 2.8% | ||
| Q2 25 | 0.8% | 3.4% | ||
| Q1 25 | 1.9% | 2.4% | ||
| Q4 24 | 1.1% | 3.0% | ||
| Q3 24 | 1.6% | 2.8% | ||
| Q2 24 | 2.2% | 3.6% | ||
| Q1 24 | 0.9% | 2.4% |
| Q4 25 | — | -1.54× | ||
| Q3 25 | — | 12.00× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.25× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -1.76× | ||
| Q1 24 | — | 2.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FWRD
| Omni Logistics Segment | $359.8M | 57% |
| Network | $183.9M | 29% |
| Intermodal Segment | $50.2M | 8% |
| Truckload | $41.6M | 7% |
GES
| Products | $760.3M | 96% |
| Royalty | $31.1M | 4% |
