vs
Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and Oatly Group AB (OTLY). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $456.6M, roughly 1.4× Oatly Group AB). FORWARD AIR CORP runs the higher net margin — -4.5% vs -18.5%, a 14.1% gap on every dollar of revenue. On growth, Oatly Group AB posted the faster year-over-year revenue change (8.1% 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.
Oatly Group AB is a Swedish food company, publicly traded on the American stock market, that produces alternatives to dairy products from oats, including oat milk. Oatly was formed in the 1990s using research from Lund University. Oatly has headquarters in Malmö and a production and development centre in Landskrona.
FWRD vs OTLY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $456.6M |
| Net Profit | $-28.3M | $-84.6M |
| Gross Margin | — | 32.2% |
| Operating Margin | -0.5% | -5.9% |
| Net Margin | -4.5% | -18.5% |
| Revenue YoY | -0.3% | 8.1% |
| Net Profit YoY | 22.2% | 32.8% |
| EPS (diluted) | $-0.90 | $-0.14 |
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 | $456.6M | ||
| Q3 25 | $631.8M | — | ||
| Q2 25 | $618.8M | $208.4M | ||
| Q1 25 | $613.3M | — | ||
| Q4 24 | $632.8M | $422.3M | ||
| Q3 24 | $655.9M | — | ||
| Q2 24 | $643.7M | $202.2M | ||
| Q1 24 | $541.8M | — |
| Q4 25 | $-28.3M | $-84.6M | ||
| Q3 25 | $-16.3M | — | ||
| Q2 25 | $-12.6M | $-55.9M | ||
| Q1 25 | $-50.6M | — | ||
| Q4 24 | $-36.4M | $-126.0M | ||
| Q3 24 | $-73.4M | — | ||
| Q2 24 | $-645.4M | $-30.4M | ||
| Q1 24 | $-61.7M | — |
| Q4 25 | — | 32.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 32.5% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 29.3% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 29.2% | ||
| Q1 24 | — | — |
| Q4 25 | -0.5% | -5.9% | ||
| Q3 25 | 2.4% | — | ||
| Q2 25 | 3.2% | -10.6% | ||
| Q1 25 | 0.8% | — | ||
| Q4 24 | 12.0% | -28.1% | ||
| Q3 24 | 3.5% | — | ||
| Q2 24 | -170.2% | -19.3% | ||
| Q1 24 | -12.1% | — |
| Q4 25 | -4.5% | -18.5% | ||
| Q3 25 | -2.6% | — | ||
| Q2 25 | -2.0% | -26.9% | ||
| Q1 25 | -8.3% | — | ||
| Q4 24 | -5.8% | -29.8% | ||
| Q3 24 | -11.2% | — | ||
| Q2 24 | -100.3% | -15.1% | ||
| Q1 24 | -11.4% | — |
| Q4 25 | $-0.90 | $-0.14 | ||
| Q3 25 | $-0.52 | — | ||
| Q2 25 | $-0.41 | $-0.09 | ||
| Q1 25 | $-1.68 | — | ||
| Q4 24 | $-1.69 | $-0.21 | ||
| Q3 24 | $-2.66 | — | ||
| Q2 24 | $-23.47 | $-0.05 | ||
| 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 | $64.3M |
| Total DebtLower is stronger | $1.7B | $523.0M |
| Stockholders' EquityBook value | $113.3M | $19.7M |
| Total Assets | $2.7B | $787.2M |
| Debt / EquityLower = less leverage | 14.89× | 26.59× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $64.3M | ||
| Q3 25 | $140.4M | — | ||
| Q2 25 | $95.1M | $67.9M | ||
| Q1 25 | $116.3M | — | ||
| Q4 24 | $104.9M | $98.9M | ||
| Q3 24 | $136.6M | — | ||
| Q2 24 | $84.9M | $142.7M | ||
| Q1 24 | $152.0M | — |
| Q4 25 | $1.7B | $523.0M | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | — | $120.6M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $446.4M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $1.7B | — |
| Q4 25 | $113.3M | $19.7M | ||
| Q3 25 | $139.8M | — | ||
| Q2 25 | $151.8M | $96.7M | ||
| Q1 25 | $154.6M | — | ||
| Q4 24 | $201.7M | $106.1M | ||
| Q3 24 | $226.1M | — | ||
| Q2 24 | $283.8M | $245.8M | ||
| Q1 24 | $926.1M | — |
| Q4 25 | $2.7B | $787.2M | ||
| Q3 25 | $2.8B | — | ||
| Q2 25 | $2.8B | $803.1M | ||
| Q1 25 | $2.8B | — | ||
| Q4 24 | $2.8B | $804.0M | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $3.1B | — | ||
| Q1 24 | $4.0B | — |
| Q4 25 | 14.89× | 26.59× | ||
| Q3 25 | 12.05× | — | ||
| Q2 25 | — | 1.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.21× | ||
| 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 | — | $-8.7M |
| Free Cash FlowOCF − Capex | — | $-11.3M |
| FCF MarginFCF / Revenue | — | -2.5% |
| Capex IntensityCapex / Revenue | 1.3% | 0.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-189.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.7M | ||
| Q3 25 | $52.7M | — | ||
| Q2 25 | — | $-15.0M | ||
| Q1 25 | $27.6M | — | ||
| Q4 24 | $-23.2M | $-28.4M | ||
| Q3 24 | $51.2M | — | ||
| Q2 24 | $-45.2M | $-86.0M | ||
| Q1 24 | $-51.7M | — |
| Q4 25 | — | $-11.3M | ||
| Q3 25 | $48.6M | — | ||
| Q2 25 | — | $-24.8M | ||
| Q1 25 | $15.7M | — | ||
| Q4 24 | $-30.5M | $-47.9M | ||
| Q3 24 | $40.7M | — | ||
| Q2 24 | $-59.6M | $-105.7M | ||
| Q1 24 | $-56.7M | — |
| Q4 25 | — | -2.5% | ||
| Q3 25 | 7.7% | — | ||
| Q2 25 | — | -11.9% | ||
| Q1 25 | 2.6% | — | ||
| Q4 24 | -4.8% | -11.3% | ||
| Q3 24 | 6.2% | — | ||
| Q2 24 | -9.3% | -52.3% | ||
| Q1 24 | -10.5% | — |
| Q4 25 | 1.3% | 0.6% | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 0.8% | 4.7% | ||
| Q1 25 | 1.9% | — | ||
| Q4 24 | 1.1% | 4.6% | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 2.2% | 9.7% | ||
| Q1 24 | 0.9% | — |
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% |
OTLY
Segment breakdown not available.
