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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and Life Time Group Holdings, Inc. (LTH). Click either name above to swap in a different company.
Life Time Group Holdings, Inc. is the larger business by last-quarter revenue ($745.1M vs $631.2M, roughly 1.2× FORWARD AIR CORP). Life Time Group Holdings, Inc. runs the higher net margin — 16.5% vs -4.5%, a 21.0% gap on every dollar of revenue. On growth, Life Time Group Holdings, Inc. posted the faster year-over-year revenue change (12.3% vs -0.3%). Over the past eight quarters, Life Time Group Holdings, Inc.'s revenue compounded faster (11.7% 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.
Life Time Group Holdings, Inc. operates a network of premium athletic, fitness and wellness destinations across the United States. It offers diverse services including state-of-the-art gym facilities, group exercise classes, personal training, spa treatments, nutrition coaching, youth programs and co-working spaces for consumers pursuing holistic healthy lifestyles.
FWRD vs LTH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $745.1M |
| Net Profit | $-28.3M | $123.0M |
| Gross Margin | — | 49.1% |
| Operating Margin | -0.5% | 17.4% |
| Net Margin | -4.5% | 16.5% |
| Revenue YoY | -0.3% | 12.3% |
| Net Profit YoY | 22.2% | 231.0% |
| EPS (diluted) | $-0.90 | $0.55 |
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 | $745.1M | ||
| Q3 25 | $631.8M | $782.6M | ||
| Q2 25 | $618.8M | $761.5M | ||
| Q1 25 | $613.3M | $706.0M | ||
| Q4 24 | $632.8M | $663.3M | ||
| Q3 24 | $655.9M | $693.2M | ||
| Q2 24 | $643.7M | $667.8M | ||
| Q1 24 | $541.8M | $596.7M |
| Q4 25 | $-28.3M | $123.0M | ||
| Q3 25 | $-16.3M | $102.4M | ||
| Q2 25 | $-12.6M | $72.1M | ||
| Q1 25 | $-50.6M | $76.1M | ||
| Q4 24 | $-36.4M | $37.2M | ||
| Q3 24 | $-73.4M | $41.4M | ||
| Q2 24 | $-645.4M | $52.8M | ||
| Q1 24 | $-61.7M | $24.9M |
| Q4 25 | — | 49.1% | ||
| Q3 25 | — | 47.1% | ||
| Q2 25 | — | 47.0% | ||
| Q1 25 | — | 47.5% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | 46.5% | ||
| Q2 24 | — | 46.8% | ||
| Q1 24 | — | 46.1% |
| Q4 25 | -0.5% | 17.4% | ||
| Q3 25 | 2.4% | 17.3% | ||
| Q2 25 | 3.2% | 14.2% | ||
| Q1 25 | 0.8% | 15.2% | ||
| Q4 24 | 12.0% | 13.1% | ||
| Q3 24 | 3.5% | 13.5% | ||
| Q2 24 | -170.2% | 15.7% | ||
| Q1 24 | -12.1% | 12.1% |
| Q4 25 | -4.5% | 16.5% | ||
| Q3 25 | -2.6% | 13.1% | ||
| Q2 25 | -2.0% | 9.5% | ||
| Q1 25 | -8.3% | 10.8% | ||
| Q4 24 | -5.8% | 5.6% | ||
| Q3 24 | -11.2% | 6.0% | ||
| Q2 24 | -100.3% | 7.9% | ||
| Q1 24 | -11.4% | 4.2% |
| Q4 25 | $-0.90 | $0.55 | ||
| Q3 25 | $-0.52 | $0.45 | ||
| Q2 25 | $-0.41 | $0.32 | ||
| Q1 25 | $-1.68 | $0.34 | ||
| Q4 24 | $-1.69 | $0.17 | ||
| Q3 24 | $-2.66 | $0.19 | ||
| Q2 24 | $-23.47 | $0.26 | ||
| Q1 24 | $-2.81 | $0.12 |
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 | $204.8M |
| Total DebtLower is stronger | $1.7B | $1.5B |
| Stockholders' EquityBook value | $113.3M | $3.1B |
| Total Assets | $2.7B | $8.0B |
| Debt / EquityLower = less leverage | 14.89× | 0.48× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $204.8M | ||
| Q3 25 | $140.4M | $218.9M | ||
| Q2 25 | $95.1M | $175.5M | ||
| Q1 25 | $116.3M | $59.0M | ||
| Q4 24 | $104.9M | $10.9M | ||
| Q3 24 | $136.6M | $120.9M | ||
| Q2 24 | $84.9M | $34.5M | ||
| Q1 24 | $152.0M | $18.6M |
| Q4 25 | $1.7B | $1.5B | ||
| Q3 25 | $1.7B | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | $1.7B | $2.0B |
| Q4 25 | $113.3M | $3.1B | ||
| Q3 25 | $139.8M | $3.0B | ||
| Q2 25 | $151.8M | $2.9B | ||
| Q1 25 | $154.6M | $2.7B | ||
| Q4 24 | $201.7M | $2.6B | ||
| Q3 24 | $226.1M | $2.6B | ||
| Q2 24 | $283.8M | $2.4B | ||
| Q1 24 | $926.1M | $2.3B |
| Q4 25 | $2.7B | $8.0B | ||
| Q3 25 | $2.8B | $7.8B | ||
| Q2 25 | $2.8B | $7.6B | ||
| Q1 25 | $2.8B | $7.3B | ||
| Q4 24 | $2.8B | $7.2B | ||
| Q3 24 | $3.1B | $7.2B | ||
| Q2 24 | $3.1B | $7.1B | ||
| Q1 24 | $4.0B | $7.1B |
| Q4 25 | 14.89× | 0.48× | ||
| Q3 25 | 12.05× | 0.51× | ||
| Q2 25 | — | 0.53× | ||
| Q1 25 | — | 0.56× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | 1.81× | 0.87× |
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 | — | $239.9M |
| Free Cash FlowOCF − Capex | — | $-64.6M |
| FCF MarginFCF / Revenue | — | -8.7% |
| Capex IntensityCapex / Revenue | 1.3% | 40.9% |
| Cash ConversionOCF / Net Profit | — | 1.95× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-21.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $239.9M | ||
| Q3 25 | $52.7M | $251.1M | ||
| Q2 25 | — | $195.7M | ||
| Q1 25 | $27.6M | $183.9M | ||
| Q4 24 | $-23.2M | $163.1M | ||
| Q3 24 | $51.2M | $151.1M | ||
| Q2 24 | $-45.2M | $170.4M | ||
| Q1 24 | $-51.7M | $90.4M |
| Q4 25 | — | $-64.6M | ||
| Q3 25 | $48.6M | $28.6M | ||
| Q2 25 | — | $-26.3M | ||
| Q1 25 | $15.7M | $41.4M | ||
| Q4 24 | $-30.5M | $26.8M | ||
| Q3 24 | $40.7M | $64.0M | ||
| Q2 24 | $-59.6M | $26.1M | ||
| Q1 24 | $-56.7M | $-66.4M |
| Q4 25 | — | -8.7% | ||
| Q3 25 | 7.7% | 3.7% | ||
| Q2 25 | — | -3.5% | ||
| Q1 25 | 2.6% | 5.9% | ||
| Q4 24 | -4.8% | 4.0% | ||
| Q3 24 | 6.2% | 9.2% | ||
| Q2 24 | -9.3% | 3.9% | ||
| Q1 24 | -10.5% | -11.1% |
| Q4 25 | 1.3% | 40.9% | ||
| Q3 25 | 0.7% | 28.4% | ||
| Q2 25 | 0.8% | 29.2% | ||
| Q1 25 | 1.9% | 20.2% | ||
| Q4 24 | 1.1% | 20.6% | ||
| Q3 24 | 1.6% | 12.6% | ||
| Q2 24 | 2.2% | 21.6% | ||
| Q1 24 | 0.9% | 26.3% |
| Q4 25 | — | 1.95× | ||
| Q3 25 | — | 2.45× | ||
| Q2 25 | — | 2.71× | ||
| Q1 25 | — | 2.41× | ||
| Q4 24 | — | 4.39× | ||
| Q3 24 | — | 3.65× | ||
| Q2 24 | — | 3.23× | ||
| Q1 24 | — | 3.63× |
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% |
LTH
| Membership | $535.1M | 72% |
| In Center | $191.2M | 26% |
| Other | $18.8M | 3% |
