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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and SOLAREDGE TECHNOLOGIES, INC. (SEDG). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $335.4M, roughly 1.9× SOLAREDGE TECHNOLOGIES, INC.). FORWARD AIR CORP runs the higher net margin — -4.5% vs -39.4%, a 34.9% gap on every dollar of revenue. On growth, SOLAREDGE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (70.9% vs -0.3%). Over the past eight quarters, SOLAREDGE TECHNOLOGIES, INC.'s revenue compounded faster (28.1% 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.
SolarEdge Technologies, Inc. is an Israeli company that developed a DC optimized inverter system.
FWRD vs SEDG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $335.4M |
| Net Profit | $-28.3M | $-132.1M |
| Gross Margin | — | 22.2% |
| Operating Margin | -0.5% | -14.4% |
| Net Margin | -4.5% | -39.4% |
| Revenue YoY | -0.3% | 70.9% |
| Net Profit YoY | 22.2% | 54.0% |
| EPS (diluted) | $-0.90 | $-2.21 |
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 | $335.4M | ||
| Q3 25 | $631.8M | $340.2M | ||
| Q2 25 | $618.8M | $289.4M | ||
| Q1 25 | $613.3M | $219.5M | ||
| Q4 24 | $632.8M | $196.2M | ||
| Q3 24 | $655.9M | $235.4M | ||
| Q2 24 | $643.7M | $265.4M | ||
| Q1 24 | $541.8M | $204.4M |
| Q4 25 | $-28.3M | $-132.1M | ||
| Q3 25 | $-16.3M | $-50.1M | ||
| Q2 25 | $-12.6M | $-124.7M | ||
| Q1 25 | $-50.6M | $-98.5M | ||
| Q4 24 | $-36.4M | $-287.4M | ||
| Q3 24 | $-73.4M | $-1.2B | ||
| Q2 24 | $-645.4M | $-130.8M | ||
| Q1 24 | $-61.7M | $-157.3M |
| Q4 25 | — | 22.2% | ||
| Q3 25 | — | 21.2% | ||
| Q2 25 | — | 11.1% | ||
| Q1 25 | — | 8.0% | ||
| Q4 24 | — | -57.2% | ||
| Q3 24 | — | -309.1% | ||
| Q2 24 | — | -4.1% | ||
| Q1 24 | — | -12.8% |
| Q4 25 | -0.5% | -14.4% | ||
| Q3 25 | 2.4% | -10.3% | ||
| Q2 25 | 3.2% | -39.9% | ||
| Q1 25 | 0.8% | -46.8% | ||
| Q4 24 | 12.0% | -134.4% | ||
| Q3 24 | 3.5% | -471.8% | ||
| Q2 24 | -170.2% | -60.4% | ||
| Q1 24 | -12.1% | -85.0% |
| Q4 25 | -4.5% | -39.4% | ||
| Q3 25 | -2.6% | -14.7% | ||
| Q2 25 | -2.0% | -43.1% | ||
| Q1 25 | -8.3% | -44.9% | ||
| Q4 24 | -5.8% | -146.5% | ||
| Q3 24 | -11.2% | -522.8% | ||
| Q2 24 | -100.3% | -49.3% | ||
| Q1 24 | -11.4% | -77.0% |
| Q4 25 | $-0.90 | $-2.21 | ||
| Q3 25 | $-0.52 | $-0.84 | ||
| Q2 25 | $-0.41 | $-2.13 | ||
| Q1 25 | $-1.68 | $-1.70 | ||
| Q4 24 | $-1.69 | $-5.00 | ||
| Q3 24 | $-2.66 | $-21.58 | ||
| Q2 24 | $-23.47 | $-2.31 | ||
| Q1 24 | $-2.81 | $-2.75 |
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 | $493.2M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $113.3M | $427.5M |
| Total Assets | $2.7B | $2.2B |
| Debt / EquityLower = less leverage | 14.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $493.2M | ||
| Q3 25 | $140.4M | $498.6M | ||
| Q2 25 | $95.1M | $758.0M | ||
| Q1 25 | $116.3M | $651.6M | ||
| Q4 24 | $104.9M | $585.9M | ||
| Q3 24 | $136.6M | $678.8M | ||
| Q2 24 | $84.9M | $689.8M | ||
| Q1 24 | $152.0M | $680.6M |
| 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 | $427.5M | ||
| Q3 25 | $139.8M | $479.8M | ||
| Q2 25 | $151.8M | $513.2M | ||
| Q1 25 | $154.6M | $594.2M | ||
| Q4 24 | $201.7M | $658.3M | ||
| Q3 24 | $226.1M | $930.9M | ||
| Q2 24 | $283.8M | $2.1B | ||
| Q1 24 | $926.1M | $2.2B |
| Q4 25 | $2.7B | $2.2B | ||
| Q3 25 | $2.8B | $2.2B | ||
| Q2 25 | $2.8B | $2.5B | ||
| Q1 25 | $2.8B | $2.5B | ||
| Q4 24 | $2.8B | $2.6B | ||
| Q3 24 | $3.1B | $2.8B | ||
| Q2 24 | $3.1B | $3.9B | ||
| Q1 24 | $4.0B | $4.2B |
| 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 | — | $52.6M |
| Free Cash FlowOCF − Capex | — | $43.3M |
| FCF MarginFCF / Revenue | — | 12.9% |
| Capex IntensityCapex / Revenue | 1.3% | 2.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $80.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $52.6M | ||
| Q3 25 | $52.7M | $25.6M | ||
| Q2 25 | — | $-7.8M | ||
| Q1 25 | $27.6M | $33.8M | ||
| Q4 24 | $-23.2M | $37.8M | ||
| Q3 24 | $51.2M | $-89.3M | ||
| Q2 24 | $-45.2M | $-44.8M | ||
| Q1 24 | $-51.7M | $-217.0M |
| Q4 25 | — | $43.3M | ||
| Q3 25 | $48.6M | $22.8M | ||
| Q2 25 | — | $-9.1M | ||
| Q1 25 | $15.7M | $23.7M | ||
| Q4 24 | $-30.5M | $25.5M | ||
| Q3 24 | $40.7M | $-136.7M | ||
| Q2 24 | $-59.6M | $-67.0M | ||
| Q1 24 | $-56.7M | $-243.4M |
| Q4 25 | — | 12.9% | ||
| Q3 25 | 7.7% | 6.7% | ||
| Q2 25 | — | -3.1% | ||
| Q1 25 | 2.6% | 10.8% | ||
| Q4 24 | -4.8% | 13.0% | ||
| Q3 24 | 6.2% | -58.1% | ||
| Q2 24 | -9.3% | -25.2% | ||
| Q1 24 | -10.5% | -119.1% |
| Q4 25 | 1.3% | 2.8% | ||
| Q3 25 | 0.7% | 0.8% | ||
| Q2 25 | 0.8% | 0.4% | ||
| Q1 25 | 1.9% | 4.6% | ||
| Q4 24 | 1.1% | 6.2% | ||
| Q3 24 | 1.6% | 20.1% | ||
| Q2 24 | 2.2% | 8.4% | ||
| Q1 24 | 0.9% | 12.9% |
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% |
SEDG
| Other | $197.7M | 59% |
| Europe Except Netherlands | $99.4M | 30% |
| Others | $38.2M | 11% |
