vs
Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and Kimco Realty (KIM). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $542.5M, roughly 1.2× Kimco Realty). Kimco Realty runs the higher net margin — 27.9% vs -4.5%, a 32.4% gap on every dollar of revenue. On growth, Kimco Realty posted the faster year-over-year revenue change (3.2% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs 3.8%).
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.
Kimco Realty Corporation, headquartered in Jericho, New York, is a real estate investment trust that invests in shopping centers.
FWRD vs KIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $542.5M |
| Net Profit | $-28.3M | $151.2M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | 36.4% |
| Net Margin | -4.5% | 27.9% |
| Revenue YoY | -0.3% | 3.2% |
| Net Profit YoY | 22.2% | -9.0% |
| EPS (diluted) | $-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 | $631.2M | $542.5M | ||
| Q3 25 | $631.8M | $535.9M | ||
| Q2 25 | $618.8M | $525.2M | ||
| Q1 25 | $613.3M | $536.6M | ||
| Q4 24 | $632.8M | $525.4M | ||
| Q3 24 | $655.9M | $507.6M | ||
| Q2 24 | $643.7M | $500.2M | ||
| Q1 24 | $541.8M | $503.8M |
| Q4 25 | $-28.3M | $151.2M | ||
| Q3 25 | $-16.3M | $137.8M | ||
| Q2 25 | $-12.6M | $163.0M | ||
| Q1 25 | $-50.6M | $132.8M | ||
| Q4 24 | $-36.4M | $166.0M | ||
| Q3 24 | $-73.4M | $136.0M | ||
| Q2 24 | $-645.4M | $119.7M | ||
| Q1 24 | $-61.7M | $-11.0M |
| Q4 25 | -0.5% | 36.4% | ||
| Q3 25 | 2.4% | 34.9% | ||
| Q2 25 | 3.2% | 39.2% | ||
| Q1 25 | 0.8% | 33.6% | ||
| Q4 24 | 12.0% | 31.7% | ||
| Q3 24 | 3.5% | 33.7% | ||
| Q2 24 | -170.2% | 32.1% | ||
| Q1 24 | -12.1% | 25.9% |
| Q4 25 | -4.5% | 27.9% | ||
| Q3 25 | -2.6% | 25.7% | ||
| Q2 25 | -2.0% | 31.0% | ||
| Q1 25 | -8.3% | 24.8% | ||
| Q4 24 | -5.8% | 31.6% | ||
| Q3 24 | -11.2% | 26.8% | ||
| Q2 24 | -100.3% | 23.9% | ||
| Q1 24 | -11.4% | -2.2% |
| Q4 25 | $-0.90 | — | ||
| Q3 25 | $-0.52 | — | ||
| Q2 25 | $-0.41 | — | ||
| Q1 25 | $-1.68 | — | ||
| Q4 24 | $-1.69 | — | ||
| Q3 24 | $-2.66 | — | ||
| Q2 24 | $-23.47 | — | ||
| Q1 24 | $-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 | $106.0M | $211.6M |
| Total DebtLower is stronger | $1.7B | $7.7B |
| Stockholders' EquityBook value | $113.3M | $10.4B |
| Total Assets | $2.7B | $19.7B |
| Debt / EquityLower = less leverage | 14.89× | 0.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $211.6M | ||
| Q3 25 | $140.4M | $159.3M | ||
| Q2 25 | $95.1M | $226.6M | ||
| Q1 25 | $116.3M | $131.3M | ||
| Q4 24 | $104.9M | $688.6M | ||
| Q3 24 | $136.6M | $789.0M | ||
| Q2 24 | $84.9M | $126.4M | ||
| Q1 24 | $152.0M | $133.4M |
| Q4 25 | $1.7B | $7.7B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.0B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $1.7B | — |
| Q4 25 | $113.3M | $10.4B | ||
| Q3 25 | $139.8M | $10.5B | ||
| Q2 25 | $151.8M | $10.5B | ||
| Q1 25 | $154.6M | $10.6B | ||
| Q4 24 | $201.7M | $10.7B | ||
| Q3 24 | $226.1M | $10.5B | ||
| Q2 24 | $283.8M | $10.6B | ||
| Q1 24 | $926.1M | $10.6B |
| Q4 25 | $2.7B | $19.7B | ||
| Q3 25 | $2.8B | $19.9B | ||
| Q2 25 | $2.8B | $19.8B | ||
| Q1 25 | $2.8B | $19.7B | ||
| Q4 24 | $2.8B | $20.3B | ||
| Q3 24 | $3.1B | $20.1B | ||
| Q2 24 | $3.1B | $19.5B | ||
| Q1 24 | $4.0B | $19.5B |
| Q4 25 | 14.89× | 0.74× | ||
| Q3 25 | 12.05× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.75× | ||
| 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 | — | $258.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 1.3% | 0.0% |
| Cash ConversionOCF / Net Profit | — | 1.71× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $258.4M | ||
| Q3 25 | $52.7M | $332.4M | ||
| Q2 25 | — | $305.4M | ||
| Q1 25 | $27.6M | $223.8M | ||
| Q4 24 | $-23.2M | $239.5M | ||
| Q3 24 | $51.2M | $295.9M | ||
| Q2 24 | $-45.2M | $294.1M | ||
| Q1 24 | $-51.7M | $176.1M |
| Q4 25 | — | — | ||
| Q3 25 | $48.6M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $15.7M | $205.4M | ||
| Q4 24 | $-30.5M | — | ||
| Q3 24 | $40.7M | — | ||
| Q2 24 | $-59.6M | — | ||
| Q1 24 | $-56.7M | — |
| Q4 25 | — | — | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 2.6% | 38.3% | ||
| Q4 24 | -4.8% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | -9.3% | — | ||
| Q1 24 | -10.5% | — |
| Q4 25 | 1.3% | 0.0% | ||
| Q3 25 | 0.7% | 0.0% | ||
| Q2 25 | 0.8% | 0.0% | ||
| Q1 25 | 1.9% | 3.4% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 0.9% | — |
| Q4 25 | — | 1.71× | ||
| Q3 25 | — | 2.41× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.69× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | — | 2.46× | ||
| Q1 24 | — | — |
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% |
KIM
Segment breakdown not available.
