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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and New Century Logistics (BVI) Ltd (NCEW). Click either name above to swap in a different company.

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.

New Century Logistics (BVI) Ltd is a third-party logistics provider focused on Greater China and Asia-Pacific markets. It offers integrated warehousing, road transport, last-mile delivery, and customized supply chain solutions, serving clients across e-commerce, FMCG, and industrial manufacturing segments.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
FWRD
FWRD
NCEW
NCEW
Q4 25
$631.2M
Q3 25
$631.8M
Q2 25
$618.8M
Q1 25
$613.3M
Q4 24
$632.8M
Q3 24
$655.9M
Q2 24
$643.7M
Q1 24
$541.8M
Net Profit
FWRD
FWRD
NCEW
NCEW
Q4 25
$-28.3M
Q3 25
$-16.3M
Q2 25
$-12.6M
Q1 25
$-50.6M
Q4 24
$-36.4M
Q3 24
$-73.4M
Q2 24
$-645.4M
Q1 24
$-61.7M
Operating Margin
FWRD
FWRD
NCEW
NCEW
Q4 25
-0.5%
Q3 25
2.4%
Q2 25
3.2%
Q1 25
0.8%
Q4 24
12.0%
Q3 24
3.5%
Q2 24
-170.2%
Q1 24
-12.1%
Net Margin
FWRD
FWRD
NCEW
NCEW
Q4 25
-4.5%
Q3 25
-2.6%
Q2 25
-2.0%
Q1 25
-8.3%
Q4 24
-5.8%
Q3 24
-11.2%
Q2 24
-100.3%
Q1 24
-11.4%
EPS (diluted)
FWRD
FWRD
NCEW
NCEW
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

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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