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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and ORMAT TECHNOLOGIES, INC. (ORA). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $403.9M, roughly 1.6× ORMAT TECHNOLOGIES, INC.). ORMAT TECHNOLOGIES, INC. runs the higher net margin — 10.9% vs -4.5%, a 15.4% gap on every dollar of revenue. On growth, ORMAT TECHNOLOGIES, INC. posted the faster year-over-year revenue change (75.8% vs -0.3%). Over the past eight quarters, ORMAT TECHNOLOGIES, INC.'s revenue compounded faster (37.7% 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.
Ormat Technologies, Inc. is an international company based in Reno, Nevada, United States. Ormat supplies alternative and renewable geothermal energy technology. The company has built over 190 power plants and installed over 3,200 MW of output. As of January 2021 it owns and operates 933 MW of geothermal and recovered energy based power plants. Ormat has supplied over 1000 turbochargers worldwide, in North America, South America, Europe, Australia, and Asia. The company's products also includ...
FWRD vs ORA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $403.9M |
| Net Profit | $-28.3M | $44.1M |
| Gross Margin | — | 29.8% |
| Operating Margin | -0.5% | 19.9% |
| Net Margin | -4.5% | 10.9% |
| Revenue YoY | -0.3% | 75.8% |
| Net Profit YoY | 22.2% | 9.2% |
| EPS (diluted) | $-0.90 | $0.71 |
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.
| Q1 26 | — | $403.9M | ||
| Q4 25 | $631.2M | $276.0M | ||
| Q3 25 | $631.8M | $249.7M | ||
| Q2 25 | $618.8M | $234.0M | ||
| Q1 25 | $613.3M | $229.8M | ||
| Q4 24 | $632.8M | $230.7M | ||
| Q3 24 | $655.9M | $211.8M | ||
| Q2 24 | $643.7M | $213.0M |
| Q1 26 | — | $44.1M | ||
| Q4 25 | $-28.3M | $31.4M | ||
| Q3 25 | $-16.3M | $24.1M | ||
| Q2 25 | $-12.6M | $28.0M | ||
| Q1 25 | $-50.6M | $40.4M | ||
| Q4 24 | $-36.4M | $40.8M | ||
| Q3 24 | $-73.4M | $22.1M | ||
| Q2 24 | $-645.4M | $22.2M |
| Q1 26 | — | 29.8% | ||
| Q4 25 | — | 28.6% | ||
| Q3 25 | — | 25.6% | ||
| Q2 25 | — | 24.3% | ||
| Q1 25 | — | 31.7% | ||
| Q4 24 | — | 31.9% | ||
| Q3 24 | — | 27.8% | ||
| Q2 24 | — | 28.8% |
| Q1 26 | — | 19.9% | ||
| Q4 25 | -0.5% | 15.4% | ||
| Q3 25 | 2.4% | 16.2% | ||
| Q2 25 | 3.2% | 15.1% | ||
| Q1 25 | 0.8% | 22.2% | ||
| Q4 24 | 12.0% | 21.3% | ||
| Q3 24 | 3.5% | 16.8% | ||
| Q2 24 | -170.2% | 16.5% |
| Q1 26 | — | 10.9% | ||
| Q4 25 | -4.5% | 11.4% | ||
| Q3 25 | -2.6% | 9.7% | ||
| Q2 25 | -2.0% | 12.0% | ||
| Q1 25 | -8.3% | 17.6% | ||
| Q4 24 | -5.8% | 17.7% | ||
| Q3 24 | -11.2% | 10.4% | ||
| Q2 24 | -100.3% | 10.4% |
| Q1 26 | — | $0.71 | ||
| Q4 25 | $-0.90 | $0.51 | ||
| Q3 25 | $-0.52 | $0.39 | ||
| Q2 25 | $-0.41 | $0.46 | ||
| Q1 25 | $-1.68 | $0.66 | ||
| Q4 24 | $-1.69 | $0.67 | ||
| Q3 24 | $-2.66 | $0.36 | ||
| Q2 24 | $-23.47 | $0.37 |
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 | $654.6M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $113.3M | $2.7B |
| Total Assets | $2.7B | $6.8B |
| Debt / EquityLower = less leverage | 14.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $654.6M | ||
| Q4 25 | $106.0M | $147.4M | ||
| Q3 25 | $140.4M | $79.6M | ||
| Q2 25 | $95.1M | $88.5M | ||
| Q1 25 | $116.3M | $112.7M | ||
| Q4 24 | $104.9M | $94.4M | ||
| Q3 24 | $136.6M | $88.1M | ||
| Q2 24 | $84.9M | $66.3M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $2.7B | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.7B | ||
| Q4 25 | $113.3M | $2.5B | ||
| Q3 25 | $139.8M | $2.5B | ||
| Q2 25 | $151.8M | $2.5B | ||
| Q1 25 | $154.6M | $2.5B | ||
| Q4 24 | $201.7M | $2.4B | ||
| Q3 24 | $226.1M | $2.4B | ||
| Q2 24 | $283.8M | $2.4B |
| Q1 26 | — | $6.8B | ||
| Q4 25 | $2.7B | $6.2B | ||
| Q3 25 | $2.8B | $6.1B | ||
| Q2 25 | $2.8B | $6.0B | ||
| Q1 25 | $2.8B | $5.8B | ||
| Q4 24 | $2.8B | $5.7B | ||
| Q3 24 | $3.1B | $5.6B | ||
| Q2 24 | $3.1B | $5.5B |
| Q1 26 | — | — | ||
| Q4 25 | 14.89× | 1.05× | ||
| Q3 25 | 12.05× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.97× | ||
| Q3 24 | — | — | ||
| Q2 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% |
ORA
| Electricity | $181.6M | 45% |
| Product | $177.4M | 44% |
| Energy storage | $44.9M | 11% |
