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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and Revolve Group, Inc. (RVLV). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $324.4M, roughly 1.9× Revolve Group, Inc.). Revolve Group, Inc. runs the higher net margin — 5.7% vs -4.5%, a 10.2% gap on every dollar of revenue. On growth, Revolve Group, Inc. posted the faster year-over-year revenue change (10.4% vs -0.3%). Over the past eight quarters, Revolve Group, Inc.'s revenue compounded faster (9.5% 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.
Revolve Theatre Company is a Henley-on-Thames based theatre company specialising in political and Shakespearean plays. The company is owned by Oliver Dench, Joe Morris and Tom Smith.
FWRD vs RVLV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $324.4M |
| Net Profit | $-28.3M | $18.6M |
| Gross Margin | — | 53.3% |
| Operating Margin | -0.5% | 6.3% |
| Net Margin | -4.5% | 5.7% |
| Revenue YoY | -0.3% | 10.4% |
| Net Profit YoY | 22.2% | 50.4% |
| EPS (diluted) | $-0.90 | $0.27 |
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 | $324.4M | ||
| Q3 25 | $631.8M | $295.6M | ||
| Q2 25 | $618.8M | $309.0M | ||
| Q1 25 | $613.3M | $296.7M | ||
| Q4 24 | $632.8M | $293.7M | ||
| Q3 24 | $655.9M | $283.1M | ||
| Q2 24 | $643.7M | $282.5M | ||
| Q1 24 | $541.8M | $270.6M |
| Q4 25 | $-28.3M | $18.6M | ||
| Q3 25 | $-16.3M | $21.2M | ||
| Q2 25 | $-12.6M | $10.2M | ||
| Q1 25 | $-50.6M | $11.8M | ||
| Q4 24 | $-36.4M | $12.3M | ||
| Q3 24 | $-73.4M | $11.0M | ||
| Q2 24 | $-645.4M | $15.4M | ||
| Q1 24 | $-61.7M | $10.9M |
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 54.6% | ||
| Q2 25 | — | 54.1% | ||
| Q1 25 | — | 52.0% | ||
| Q4 24 | — | 52.5% | ||
| Q3 24 | — | 51.2% | ||
| Q2 24 | — | 54.0% | ||
| Q1 24 | — | 52.3% |
| Q4 25 | -0.5% | 6.3% | ||
| Q3 25 | 2.4% | 7.1% | ||
| Q2 25 | 3.2% | 5.8% | ||
| Q1 25 | 0.8% | 5.0% | ||
| Q4 24 | 12.0% | 3.9% | ||
| Q3 24 | 3.5% | 5.0% | ||
| Q2 24 | -170.2% | 5.8% | ||
| Q1 24 | -12.1% | 3.4% |
| Q4 25 | -4.5% | 5.7% | ||
| Q3 25 | -2.6% | 7.2% | ||
| Q2 25 | -2.0% | 3.3% | ||
| Q1 25 | -8.3% | 4.0% | ||
| Q4 24 | -5.8% | 4.2% | ||
| Q3 24 | -11.2% | 3.9% | ||
| Q2 24 | -100.3% | 5.4% | ||
| Q1 24 | -11.4% | 4.0% |
| Q4 25 | $-0.90 | $0.27 | ||
| Q3 25 | $-0.52 | $0.29 | ||
| Q2 25 | $-0.41 | $0.14 | ||
| Q1 25 | $-1.68 | $0.16 | ||
| Q4 24 | $-1.69 | $0.18 | ||
| Q3 24 | $-2.66 | $0.15 | ||
| Q2 24 | $-23.47 | $0.21 | ||
| Q1 24 | $-2.81 | $0.15 |
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 | $292.3M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $113.3M | $512.5M |
| Total Assets | $2.7B | $765.0M |
| Debt / EquityLower = less leverage | 14.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $292.3M | ||
| Q3 25 | $140.4M | $315.4M | ||
| Q2 25 | $95.1M | $310.7M | ||
| Q1 25 | $116.3M | $300.8M | ||
| Q4 24 | $104.9M | $256.6M | ||
| Q3 24 | $136.6M | $252.8M | ||
| Q2 24 | $84.9M | $244.7M | ||
| Q1 24 | $152.0M | $273.4M |
| 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 | $512.5M | ||
| Q3 25 | $139.8M | $490.2M | ||
| Q2 25 | $151.8M | $468.6M | ||
| Q1 25 | $154.6M | $453.4M | ||
| Q4 24 | $201.7M | $437.8M | ||
| Q3 24 | $226.1M | $420.8M | ||
| Q2 24 | $283.8M | $405.8M | ||
| Q1 24 | $926.1M | $389.9M |
| Q4 25 | $2.7B | $765.0M | ||
| Q3 25 | $2.8B | $751.3M | ||
| Q2 25 | $2.8B | $722.9M | ||
| Q1 25 | $2.8B | $713.9M | ||
| Q4 24 | $2.8B | $665.5M | ||
| Q3 24 | $3.1B | $670.9M | ||
| Q2 24 | $3.1B | $657.8M | ||
| Q1 24 | $4.0B | $650.0M |
| 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 | — | $-10.2M |
| Free Cash FlowOCF − Capex | — | $-13.3M |
| FCF MarginFCF / Revenue | — | -4.1% |
| Capex IntensityCapex / Revenue | 1.3% | 1.0% |
| Cash ConversionOCF / Net Profit | — | -0.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $48.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-10.2M | ||
| Q3 25 | $52.7M | $11.8M | ||
| Q2 25 | — | $12.6M | ||
| Q1 25 | $27.6M | $45.1M | ||
| Q4 24 | $-23.2M | $3.9M | ||
| Q3 24 | $51.2M | $9.1M | ||
| Q2 24 | $-45.2M | $-24.7M | ||
| Q1 24 | $-51.7M | $38.4M |
| Q4 25 | — | $-13.3M | ||
| Q3 25 | $48.6M | $7.5M | ||
| Q2 25 | — | $10.4M | ||
| Q1 25 | $15.7M | $43.4M | ||
| Q4 24 | $-30.5M | $2.1M | ||
| Q3 24 | $40.7M | $8.0M | ||
| Q2 24 | $-59.6M | $-25.7M | ||
| Q1 24 | $-56.7M | $36.7M |
| Q4 25 | — | -4.1% | ||
| Q3 25 | 7.7% | 2.5% | ||
| Q2 25 | — | 3.4% | ||
| Q1 25 | 2.6% | 14.6% | ||
| Q4 24 | -4.8% | 0.7% | ||
| Q3 24 | 6.2% | 2.8% | ||
| Q2 24 | -9.3% | -9.1% | ||
| Q1 24 | -10.5% | 13.5% |
| Q4 25 | 1.3% | 1.0% | ||
| Q3 25 | 0.7% | 1.5% | ||
| Q2 25 | 0.8% | 0.7% | ||
| Q1 25 | 1.9% | 0.6% | ||
| Q4 24 | 1.1% | 0.6% | ||
| Q3 24 | 1.6% | 0.4% | ||
| Q2 24 | 2.2% | 0.4% | ||
| Q1 24 | 0.9% | 0.6% |
| Q4 25 | — | -0.55× | ||
| Q3 25 | — | 0.56× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 3.82× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.83× | ||
| Q2 24 | — | -1.60× | ||
| Q1 24 | — | 3.53× |
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% |
RVLV
| Fashion Apparel | $155.1M | 48% |
| Dresses | $76.4M | 24% |
| Handbags Shoes And Accessories | $67.6M | 21% |
| Beauty | $20.3M | 6% |
| Manufactured Product Other | $5.0M | 2% |
| Breakage On Store Credit And Gift Cards | $900.0K | 0% |
