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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and Magnolia Oil & Gas Corp (MGY). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $317.6M, roughly 2.0× Magnolia Oil & Gas Corp). Magnolia Oil & Gas Corp runs the higher net margin — 21.6% vs -4.5%, a 26.1% gap on every dollar of revenue. On growth, FORWARD AIR CORP posted the faster year-over-year revenue change (-0.3% vs -2.7%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs -0.3%).
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.
Imperial Oil Limited is a Canadian petroleum company. It is Canada's second-largest integrated oil company that is also occasionally known as Imperial Esso. It is majority-owned by American oil company ExxonMobil, with a 69.6% ownership stake in the company. It is a producer of crude oil, diluted bitumen, and natural gas. Imperial Oil is one of Canada's major petroleum refiners and petrochemical producers. It supplies Esso-brand service stations.
FWRD vs MGY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $317.6M |
| Net Profit | $-28.3M | $68.8M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | 29.6% |
| Net Margin | -4.5% | 21.6% |
| Revenue YoY | -0.3% | -2.7% |
| Net Profit YoY | 22.2% | -19.7% |
| 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 | $317.6M | ||
| Q3 25 | $631.8M | $324.9M | ||
| Q2 25 | $618.8M | $319.0M | ||
| Q1 25 | $613.3M | $350.3M | ||
| Q4 24 | $632.8M | $326.6M | ||
| Q3 24 | $655.9M | $333.1M | ||
| Q2 24 | $643.7M | $336.7M | ||
| Q1 24 | $541.8M | $319.4M |
| Q4 25 | $-28.3M | $68.8M | ||
| Q3 25 | $-16.3M | $75.5M | ||
| Q2 25 | $-12.6M | $78.1M | ||
| Q1 25 | $-50.6M | $102.9M | ||
| Q4 24 | $-36.4M | $85.6M | ||
| Q3 24 | $-73.4M | $99.8M | ||
| Q2 24 | $-645.4M | $95.6M | ||
| Q1 24 | $-61.7M | $85.1M |
| Q4 25 | -0.5% | 29.6% | ||
| Q3 25 | 2.4% | 31.2% | ||
| Q2 25 | 3.2% | 33.8% | ||
| Q1 25 | 0.8% | 38.8% | ||
| Q4 24 | 12.0% | 38.0% | ||
| Q3 24 | 3.5% | 38.7% | ||
| Q2 24 | -170.2% | 39.9% | ||
| Q1 24 | -12.1% | 39.0% |
| Q4 25 | -4.5% | 21.6% | ||
| Q3 25 | -2.6% | 23.2% | ||
| Q2 25 | -2.0% | 24.5% | ||
| Q1 25 | -8.3% | 29.4% | ||
| Q4 24 | -5.8% | 26.2% | ||
| Q3 24 | -11.2% | 30.0% | ||
| Q2 24 | -100.3% | 28.4% | ||
| Q1 24 | -11.4% | 26.6% |
| 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 | $266.8M |
| Total DebtLower is stronger | $1.7B | $393.3M |
| Stockholders' EquityBook value | $113.3M | $2.0B |
| Total Assets | $2.7B | $2.9B |
| Debt / EquityLower = less leverage | 14.89× | 0.20× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $266.8M | ||
| Q3 25 | $140.4M | $280.5M | ||
| Q2 25 | $95.1M | $251.8M | ||
| Q1 25 | $116.3M | $247.6M | ||
| Q4 24 | $104.9M | $260.0M | ||
| Q3 24 | $136.6M | $276.1M | ||
| Q2 24 | $84.9M | $275.7M | ||
| Q1 24 | $152.0M | $399.3M |
| Q4 25 | $1.7B | $393.3M | ||
| Q3 25 | $1.7B | $393.1M | ||
| Q2 25 | — | $392.9M | ||
| Q1 25 | — | $392.7M | ||
| Q4 24 | — | $392.5M | ||
| Q3 24 | — | $394.8M | ||
| Q2 24 | — | $394.1M | ||
| Q1 24 | $1.7B | $393.5M |
| Q4 25 | $113.3M | $2.0B | ||
| Q3 25 | $139.8M | $2.0B | ||
| Q2 25 | $151.8M | $2.0B | ||
| Q1 25 | $154.6M | $2.0B | ||
| Q4 24 | $201.7M | $2.0B | ||
| Q3 24 | $226.1M | $2.0B | ||
| Q2 24 | $283.8M | $1.9B | ||
| Q1 24 | $926.1M | $1.9B |
| Q4 25 | $2.7B | $2.9B | ||
| Q3 25 | $2.8B | $2.9B | ||
| Q2 25 | $2.8B | $2.9B | ||
| Q1 25 | $2.8B | $2.9B | ||
| Q4 24 | $2.8B | $2.8B | ||
| Q3 24 | $3.1B | $2.8B | ||
| Q2 24 | $3.1B | $2.8B | ||
| Q1 24 | $4.0B | $2.8B |
| Q4 25 | 14.89× | 0.20× | ||
| Q3 25 | 12.05× | 0.20× | ||
| Q2 25 | — | 0.20× | ||
| Q1 25 | — | 0.20× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | 1.81× | 0.21× |
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 | — | $208.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 1.3% | — |
| Cash ConversionOCF / Net Profit | — | 3.03× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $208.4M | ||
| Q3 25 | $52.7M | $247.1M | ||
| Q2 25 | — | $198.7M | ||
| Q1 25 | $27.6M | $224.5M | ||
| Q4 24 | $-23.2M | $222.6M | ||
| Q3 24 | $51.2M | $217.9M | ||
| Q2 24 | $-45.2M | $269.4M | ||
| Q1 24 | $-51.7M | $210.9M |
| Q4 25 | — | — | ||
| Q3 25 | $48.6M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $15.7M | — | ||
| 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% | — | ||
| Q4 24 | -4.8% | — | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | -9.3% | — | ||
| Q1 24 | -10.5% | — |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 2.2% | — | ||
| Q1 24 | 0.9% | — |
| Q4 25 | — | 3.03× | ||
| Q3 25 | — | 3.27× | ||
| Q2 25 | — | 2.54× | ||
| Q1 25 | — | 2.18× | ||
| Q4 24 | — | 2.60× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | — | 2.82× | ||
| Q1 24 | — | 2.48× |
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% |
MGY
| Oil And Condensate | $215.6M | 68% |
| Natural Gas Reserves | $52.9M | 17% |
| Natural Gas Liquids Reserves | $49.1M | 15% |
