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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and Hims & Hers Health, Inc. (HIMS). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $617.8M, roughly 1.0× Hims & Hers Health, Inc.). Hims & Hers Health, Inc. runs the higher net margin — 3.3% vs -4.5%, a 7.8% gap on every dollar of revenue. On growth, Hims & Hers Health, Inc. posted the faster year-over-year revenue change (28.4% vs -0.3%). Over the past eight quarters, Hims & Hers Health, Inc.'s revenue compounded faster (49.0% CAGR vs 7.9%).
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.
Hims & Hers Health, Inc. is an American telehealth company established in 2017. The company provides prescription medications, over-the-counter medications, and personal care products.
FWRD vs HIMS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $617.8M |
| Net Profit | $-28.3M | $20.6M |
| Gross Margin | — | 71.9% |
| Operating Margin | -0.5% | 1.5% |
| Net Margin | -4.5% | 3.3% |
| Revenue YoY | -0.3% | 28.4% |
| Net Profit YoY | 22.2% | -20.8% |
| EPS (diluted) | $-0.90 | $0.08 |
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 | $617.8M | ||
| Q3 25 | $631.8M | $599.0M | ||
| Q2 25 | $618.8M | $544.8M | ||
| Q1 25 | $613.3M | $586.0M | ||
| Q4 24 | $632.8M | $481.1M | ||
| Q3 24 | $655.9M | $401.6M | ||
| Q2 24 | $643.7M | $315.6M | ||
| Q1 24 | $541.8M | $278.2M |
| Q4 25 | $-28.3M | $20.6M | ||
| Q3 25 | $-16.3M | $15.8M | ||
| Q2 25 | $-12.6M | $42.5M | ||
| Q1 25 | $-50.6M | $49.5M | ||
| Q4 24 | $-36.4M | $26.0M | ||
| Q3 24 | $-73.4M | $75.6M | ||
| Q2 24 | $-645.4M | $13.3M | ||
| Q1 24 | $-61.7M | $11.1M |
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 73.8% | ||
| Q2 25 | — | 76.4% | ||
| Q1 25 | — | 73.5% | ||
| Q4 24 | — | 76.8% | ||
| Q3 24 | — | 79.2% | ||
| Q2 24 | — | 81.3% | ||
| Q1 24 | — | 82.4% |
| Q4 25 | -0.5% | 1.5% | ||
| Q3 25 | 2.4% | 2.0% | ||
| Q2 25 | 3.2% | 4.9% | ||
| Q1 25 | 0.8% | 9.9% | ||
| Q4 24 | 12.0% | 3.9% | ||
| Q3 24 | 3.5% | 5.6% | ||
| Q2 24 | -170.2% | 3.5% | ||
| Q1 24 | -12.1% | 3.6% |
| Q4 25 | -4.5% | 3.3% | ||
| Q3 25 | -2.6% | 2.6% | ||
| Q2 25 | -2.0% | 7.8% | ||
| Q1 25 | -8.3% | 8.4% | ||
| Q4 24 | -5.8% | 5.4% | ||
| Q3 24 | -11.2% | 18.8% | ||
| Q2 24 | -100.3% | 4.2% | ||
| Q1 24 | -11.4% | 4.0% |
| Q4 25 | $-0.90 | $0.08 | ||
| Q3 25 | $-0.52 | $0.06 | ||
| Q2 25 | $-0.41 | $0.17 | ||
| Q1 25 | $-1.68 | $0.20 | ||
| Q4 24 | $-1.69 | $0.10 | ||
| Q3 24 | $-2.66 | $0.32 | ||
| Q2 24 | $-23.47 | $0.06 | ||
| Q1 24 | $-2.81 | $0.05 |
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 | $228.6M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $113.3M | $540.9M |
| Total Assets | $2.7B | $2.2B |
| Debt / EquityLower = less leverage | 14.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $228.6M | ||
| Q3 25 | $140.4M | $345.8M | ||
| Q2 25 | $95.1M | $1.1B | ||
| Q1 25 | $116.3M | $273.7M | ||
| Q4 24 | $104.9M | $220.6M | ||
| Q3 24 | $136.6M | $165.5M | ||
| Q2 24 | $84.9M | $129.3M | ||
| Q1 24 | $152.0M | $105.2M |
| 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 | $540.9M | ||
| Q3 25 | $139.8M | $581.0M | ||
| Q2 25 | $151.8M | $562.7M | ||
| Q1 25 | $154.6M | $549.3M | ||
| Q4 24 | $201.7M | $476.7M | ||
| Q3 24 | $226.1M | $440.1M | ||
| Q2 24 | $283.8M | $362.0M | ||
| Q1 24 | $926.1M | $344.5M |
| Q4 25 | $2.7B | $2.2B | ||
| Q3 25 | $2.8B | $2.2B | ||
| Q2 25 | $2.8B | $1.9B | ||
| Q1 25 | $2.8B | $891.7M | ||
| Q4 24 | $2.8B | $707.5M | ||
| Q3 24 | $3.1B | $602.3M | ||
| Q2 24 | $3.1B | $480.5M | ||
| Q1 24 | $4.0B | $448.1M |
| 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 | — | $61.3M |
| Free Cash FlowOCF − Capex | — | $-2.5M |
| FCF MarginFCF / Revenue | — | -0.4% |
| Capex IntensityCapex / Revenue | 1.3% | 10.3% |
| Cash ConversionOCF / Net Profit | — | 2.98× |
| TTM Free Cash FlowTrailing 4 quarters | — | $57.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $61.3M | ||
| Q3 25 | $52.7M | $148.7M | ||
| Q2 25 | — | $-19.1M | ||
| Q1 25 | $27.6M | $109.1M | ||
| Q4 24 | $-23.2M | $86.4M | ||
| Q3 24 | $51.2M | $85.3M | ||
| Q2 24 | $-45.2M | $53.6M | ||
| Q1 24 | $-51.7M | $25.8M |
| Q4 25 | — | $-2.5M | ||
| Q3 25 | $48.6M | $79.3M | ||
| Q2 25 | — | $-69.5M | ||
| Q1 25 | $15.7M | $50.1M | ||
| Q4 24 | $-30.5M | $59.5M | ||
| Q3 24 | $40.7M | $79.4M | ||
| Q2 24 | $-59.6M | $47.6M | ||
| Q1 24 | $-56.7M | $11.8M |
| Q4 25 | — | -0.4% | ||
| Q3 25 | 7.7% | 13.2% | ||
| Q2 25 | — | -12.8% | ||
| Q1 25 | 2.6% | 8.5% | ||
| Q4 24 | -4.8% | 12.4% | ||
| Q3 24 | 6.2% | 19.8% | ||
| Q2 24 | -9.3% | 15.1% | ||
| Q1 24 | -10.5% | 4.3% |
| Q4 25 | 1.3% | 10.3% | ||
| Q3 25 | 0.7% | 11.6% | ||
| Q2 25 | 0.8% | 9.3% | ||
| Q1 25 | 1.9% | 10.1% | ||
| Q4 24 | 1.1% | 5.6% | ||
| Q3 24 | 1.6% | 1.5% | ||
| Q2 24 | 2.2% | 1.9% | ||
| Q1 24 | 0.9% | 5.0% |
| Q4 25 | — | 2.98× | ||
| Q3 25 | — | 9.43× | ||
| Q2 25 | — | -0.45× | ||
| Q1 25 | — | 2.20× | ||
| Q4 24 | — | 3.32× | ||
| Q3 24 | — | 1.13× | ||
| Q2 24 | — | 4.03× | ||
| Q1 24 | — | 2.32× |
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% |
HIMS
Segment breakdown not available.
