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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and GLOBAL INDUSTRIAL Co (GIC). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $345.6M, roughly 1.8× GLOBAL INDUSTRIAL Co). GLOBAL INDUSTRIAL Co runs the higher net margin — 4.2% vs -4.5%, a 8.7% gap on every dollar of revenue. On growth, GLOBAL INDUSTRIAL Co posted the faster year-over-year revenue change (14.3% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs 3.4%).
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.
Global Industrial Company is a Port Washington, New York–based company providing industrial and MRO products through a system of branded e-Commerce websites and relationship marketers in North America. The primary brand is Global Industrial.
FWRD vs GIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $345.6M |
| Net Profit | $-28.3M | $14.6M |
| Gross Margin | — | 34.5% |
| Operating Margin | -0.5% | 5.7% |
| Net Margin | -4.5% | 4.2% |
| Revenue YoY | -0.3% | 14.3% |
| Net Profit YoY | 22.2% | 36.4% |
| EPS (diluted) | $-0.90 | $0.37 |
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 | $345.6M | ||
| Q3 25 | $631.8M | $353.6M | ||
| Q2 25 | $618.8M | $358.9M | ||
| Q1 25 | $613.3M | $321.0M | ||
| Q4 24 | $632.8M | $302.3M | ||
| Q3 24 | $655.9M | $342.4M | ||
| Q2 24 | $643.7M | $347.8M | ||
| Q1 24 | $541.8M | $323.4M |
| Q4 25 | $-28.3M | $14.6M | ||
| Q3 25 | $-16.3M | $18.8M | ||
| Q2 25 | $-12.6M | $25.1M | ||
| Q1 25 | $-50.6M | $13.6M | ||
| Q4 24 | $-36.4M | $10.7M | ||
| Q3 24 | $-73.4M | $16.8M | ||
| Q2 24 | $-645.4M | $20.3M | ||
| Q1 24 | $-61.7M | $13.2M |
| Q4 25 | — | 34.5% | ||
| Q3 25 | — | 35.6% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 34.9% | ||
| Q4 24 | — | 33.8% | ||
| Q3 24 | — | 34.0% | ||
| Q2 24 | — | 35.2% | ||
| Q1 24 | — | 34.3% |
| Q4 25 | -0.5% | 5.7% | ||
| Q3 25 | 2.4% | 7.4% | ||
| Q2 25 | 3.2% | 9.3% | ||
| Q1 25 | 0.8% | 5.7% | ||
| Q4 24 | 12.0% | 4.8% | ||
| Q3 24 | 3.5% | 6.5% | ||
| Q2 24 | -170.2% | 7.6% | ||
| Q1 24 | -12.1% | 5.4% |
| Q4 25 | -4.5% | 4.2% | ||
| Q3 25 | -2.6% | 5.3% | ||
| Q2 25 | -2.0% | 7.0% | ||
| Q1 25 | -8.3% | 4.2% | ||
| Q4 24 | -5.8% | 3.5% | ||
| Q3 24 | -11.2% | 4.9% | ||
| Q2 24 | -100.3% | 5.8% | ||
| Q1 24 | -11.4% | 4.1% |
| Q4 25 | $-0.90 | $0.37 | ||
| Q3 25 | $-0.52 | $0.48 | ||
| Q2 25 | $-0.41 | $0.65 | ||
| Q1 25 | $-1.68 | $0.35 | ||
| Q4 24 | $-1.69 | $0.28 | ||
| Q3 24 | $-2.66 | $0.44 | ||
| Q2 24 | $-23.47 | $0.52 | ||
| Q1 24 | $-2.81 | $0.34 |
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 | $67.5M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $113.3M | $313.2M |
| Total Assets | $2.7B | $580.8M |
| Debt / EquityLower = less leverage | 14.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $67.5M | ||
| Q3 25 | $140.4M | $67.2M | ||
| Q2 25 | $95.1M | $55.1M | ||
| Q1 25 | $116.3M | $39.0M | ||
| Q4 24 | $104.9M | $44.6M | ||
| Q3 24 | $136.6M | $38.9M | ||
| Q2 24 | $84.9M | $38.8M | ||
| Q1 24 | $152.0M | $29.9M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $1.7B | — |
| Q4 25 | $113.3M | $313.2M | ||
| Q3 25 | $139.8M | $316.0M | ||
| Q2 25 | $151.8M | $305.2M | ||
| Q1 25 | $154.6M | $287.9M | ||
| Q4 24 | $201.7M | $281.1M | ||
| Q3 24 | $226.1M | $279.2M | ||
| Q2 24 | $283.8M | $270.4M | ||
| Q1 24 | $926.1M | $260.2M |
| Q4 25 | $2.7B | $580.8M | ||
| Q3 25 | $2.8B | $602.5M | ||
| Q2 25 | $2.8B | $586.5M | ||
| Q1 25 | $2.8B | $536.7M | ||
| Q4 24 | $2.8B | $520.7M | ||
| Q3 24 | $3.1B | $531.6M | ||
| Q2 24 | $3.1B | $542.5M | ||
| Q1 24 | $4.0B | $517.4M |
| 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 | — | $20.0M |
| Free Cash FlowOCF − Capex | — | $19.2M |
| FCF MarginFCF / Revenue | — | 5.6% |
| Capex IntensityCapex / Revenue | 1.3% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 1.37× |
| TTM Free Cash FlowTrailing 4 quarters | — | $74.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.0M | ||
| Q3 25 | $52.7M | $22.7M | ||
| Q2 25 | — | $31.7M | ||
| Q1 25 | $27.6M | $3.4M | ||
| Q4 24 | $-23.2M | $15.9M | ||
| Q3 24 | $51.2M | $9.6M | ||
| Q2 24 | $-45.2M | $18.8M | ||
| Q1 24 | $-51.7M | $6.4M |
| Q4 25 | — | $19.2M | ||
| Q3 25 | $48.6M | $22.0M | ||
| Q2 25 | — | $30.3M | ||
| Q1 25 | $15.7M | $3.2M | ||
| Q4 24 | $-30.5M | $15.2M | ||
| Q3 24 | $40.7M | $8.7M | ||
| Q2 24 | $-59.6M | $17.9M | ||
| Q1 24 | $-56.7M | $5.1M |
| Q4 25 | — | 5.6% | ||
| Q3 25 | 7.7% | 6.2% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | 2.6% | 1.0% | ||
| Q4 24 | -4.8% | 5.0% | ||
| Q3 24 | 6.2% | 2.5% | ||
| Q2 24 | -9.3% | 5.1% | ||
| Q1 24 | -10.5% | 1.6% |
| Q4 25 | 1.3% | 0.2% | ||
| Q3 25 | 0.7% | 0.2% | ||
| Q2 25 | 0.8% | 0.4% | ||
| Q1 25 | 1.9% | 0.1% | ||
| Q4 24 | 1.1% | 0.2% | ||
| Q3 24 | 1.6% | 0.3% | ||
| Q2 24 | 2.2% | 0.3% | ||
| Q1 24 | 0.9% | 0.4% |
| Q4 25 | — | 1.37× | ||
| Q3 25 | — | 1.21× | ||
| Q2 25 | — | 1.26× | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 1.49× | ||
| Q3 24 | — | 0.57× | ||
| Q2 24 | — | 0.93× | ||
| Q1 24 | — | 0.48× |
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% |
GIC
Segment breakdown not available.
