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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and RH (RH). Click either name above to swap in a different company.
RH is the larger business by last-quarter revenue ($883.8M vs $631.2M, roughly 1.4× FORWARD AIR CORP). RH runs the higher net margin — 4.1% vs -4.5%, a 8.6% gap on every dollar of revenue. On growth, RH posted the faster year-over-year revenue change (8.9% vs -0.3%). Over the past eight quarters, RH's revenue compounded faster (9.4% 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.
RH is an upscale American home-furnishings company headquartered in Corte Madera, California. The company sells its merchandise through its retail stores, catalog, and online. As of August 2018, the company operated a total of 70 galleries, 18 full-line design galleries, and 3 baby-and-child galleries. The company also has 36 outlet stores in the United States and Canada.
FWRD vs RH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $883.8M |
| Net Profit | $-28.3M | $36.3M |
| Gross Margin | — | 44.1% |
| Operating Margin | -0.5% | 12.0% |
| Net Margin | -4.5% | 4.1% |
| Revenue YoY | -0.3% | 8.9% |
| Net Profit YoY | 22.2% | 9.3% |
| EPS (diluted) | $-0.90 | $1.83 |
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 | $883.8M | ||
| Q3 25 | $631.8M | $899.2M | ||
| Q2 25 | $618.8M | $814.0M | ||
| Q1 25 | $613.3M | $812.4M | ||
| Q4 24 | $632.8M | $811.7M | ||
| Q3 24 | $655.9M | $829.7M | ||
| Q2 24 | $643.7M | $727.0M | ||
| Q1 24 | $541.8M | $738.3M |
| Q4 25 | $-28.3M | $36.3M | ||
| Q3 25 | $-16.3M | $51.7M | ||
| Q2 25 | $-12.6M | $8.0M | ||
| Q1 25 | $-50.6M | $13.9M | ||
| Q4 24 | $-36.4M | $33.2M | ||
| Q3 24 | $-73.4M | $29.0M | ||
| Q2 24 | $-645.4M | $-3.6M | ||
| Q1 24 | $-61.7M | $11.4M |
| Q4 25 | — | 44.1% | ||
| Q3 25 | — | 45.5% | ||
| Q2 25 | — | 43.7% | ||
| Q1 25 | — | 44.7% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.2% | ||
| Q2 24 | — | 43.5% | ||
| Q1 24 | — | 43.5% |
| Q4 25 | -0.5% | 12.0% | ||
| Q3 25 | 2.4% | 14.3% | ||
| Q2 25 | 3.2% | 6.9% | ||
| Q1 25 | 0.8% | 8.7% | ||
| Q4 24 | 12.0% | 12.5% | ||
| Q3 24 | 3.5% | 11.6% | ||
| Q2 24 | -170.2% | 7.5% | ||
| Q1 24 | -12.1% | 8.7% |
| Q4 25 | -4.5% | 4.1% | ||
| Q3 25 | -2.6% | 5.8% | ||
| Q2 25 | -2.0% | 1.0% | ||
| Q1 25 | -8.3% | 1.7% | ||
| Q4 24 | -5.8% | 4.1% | ||
| Q3 24 | -11.2% | 3.5% | ||
| Q2 24 | -100.3% | -0.5% | ||
| Q1 24 | -11.4% | 1.5% |
| Q4 25 | $-0.90 | $1.83 | ||
| Q3 25 | $-0.52 | $2.62 | ||
| Q2 25 | $-0.41 | $0.40 | ||
| Q1 25 | $-1.68 | $0.71 | ||
| Q4 24 | $-1.69 | $1.66 | ||
| Q3 24 | $-2.66 | $1.45 | ||
| Q2 24 | $-23.47 | $-0.20 | ||
| Q1 24 | $-2.81 | $0.91 |
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 | $43.1M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $113.3M | $3.3M |
| Total Assets | $2.7B | $4.8B |
| Debt / EquityLower = less leverage | 14.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $43.1M | ||
| Q3 25 | $140.4M | $34.6M | ||
| Q2 25 | $95.1M | $46.1M | ||
| Q1 25 | $116.3M | $30.4M | ||
| Q4 24 | $104.9M | $87.0M | ||
| Q3 24 | $136.6M | $78.3M | ||
| Q2 24 | $84.9M | $101.8M | ||
| Q1 24 | $152.0M | $123.7M |
| Q4 25 | $1.7B | — | ||
| Q3 25 | $1.7B | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $1.7B | — |
| Q4 25 | $113.3M | $3.3M | ||
| Q3 25 | $139.8M | $-40.9M | ||
| Q2 25 | $151.8M | $-110.8M | ||
| Q1 25 | $154.6M | $-163.6M | ||
| Q4 24 | $201.7M | $-183.0M | ||
| Q3 24 | $226.1M | $-234.7M | ||
| Q2 24 | $283.8M | $-289.9M | ||
| Q1 24 | $926.1M | $-297.4M |
| Q4 25 | $2.7B | $4.8B | ||
| Q3 25 | $2.8B | $4.7B | ||
| Q2 25 | $2.8B | $4.7B | ||
| Q1 25 | $2.8B | $4.6B | ||
| Q4 24 | $2.8B | $4.5B | ||
| Q3 24 | $3.1B | $4.4B | ||
| Q2 24 | $3.1B | $4.2B | ||
| Q1 24 | $4.0B | $4.1B |
| Q4 25 | 14.89× | — | ||
| Q3 25 | 12.05× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | — | $131.9M |
| Free Cash FlowOCF − Capex | — | $83.0M |
| FCF MarginFCF / Revenue | — | 9.4% |
| Capex IntensityCapex / Revenue | 1.3% | 5.5% |
| Cash ConversionOCF / Net Profit | — | 3.64× |
| TTM Free Cash FlowTrailing 4 quarters | — | $128.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $131.9M | ||
| Q3 25 | $52.7M | $137.7M | ||
| Q2 25 | — | $86.6M | ||
| Q1 25 | $27.6M | $-18.8M | ||
| Q4 24 | $-23.2M | $-31.4M | ||
| Q3 24 | $51.2M | $11.2M | ||
| Q2 24 | $-45.2M | $56.1M | ||
| Q1 24 | $-51.7M | $-114.0M |
| Q4 25 | — | $83.0M | ||
| Q3 25 | $48.6M | $80.7M | ||
| Q2 25 | — | $34.1M | ||
| Q1 25 | $15.7M | $-69.7M | ||
| Q4 24 | $-30.5M | $-96.0M | ||
| Q3 24 | $40.7M | $-37.9M | ||
| Q2 24 | $-59.6M | $-10.1M | ||
| Q1 24 | $-56.7M | $-251.5M |
| Q4 25 | — | 9.4% | ||
| Q3 25 | 7.7% | 9.0% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | 2.6% | -8.6% | ||
| Q4 24 | -4.8% | -11.8% | ||
| Q3 24 | 6.2% | -4.6% | ||
| Q2 24 | -9.3% | -1.4% | ||
| Q1 24 | -10.5% | -34.1% |
| Q4 25 | 1.3% | 5.5% | ||
| Q3 25 | 0.7% | 6.3% | ||
| Q2 25 | 0.8% | 6.5% | ||
| Q1 25 | 1.9% | 6.3% | ||
| Q4 24 | 1.1% | 8.0% | ||
| Q3 24 | 1.6% | 5.9% | ||
| Q2 24 | 2.2% | 9.1% | ||
| Q1 24 | 0.9% | 18.6% |
| Q4 25 | — | 3.64× | ||
| Q3 25 | — | 2.66× | ||
| Q2 25 | — | 10.78× | ||
| Q1 25 | — | -1.35× | ||
| Q4 24 | — | -0.95× | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -10.01× |
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% |
RH
| RH Segment | $835.8M | 95% |
| Waterworks Segment | $48.0M | 5% |
| Gift Card And Merchandise Credit | $4.5M | 1% |
