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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and TEXAS CAPITAL BANCSHARES INC (TCBI). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $324.0M, roughly 1.9× TEXAS CAPITAL BANCSHARES INC). TEXAS CAPITAL BANCSHARES INC runs the higher net margin — 22.8% vs -4.5%, a 27.3% gap on every dollar of revenue. On growth, TEXAS CAPITAL BANCSHARES INC posted the faster year-over-year revenue change (15.5% vs -0.3%). Over the past eight quarters, TEXAS CAPITAL BANCSHARES INC's revenue compounded faster (10.2% 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.
Texas Capital Bank is a bank headquartered in Dallas, Texas. The bank has branches located in every major city in Texas. Its parent bank holding company is Texas Capital Bancshares. It also operates an online-only banking division, Bask Bank.
FWRD vs TCBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $324.0M |
| Net Profit | $-28.3M | $73.8M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | — |
| Net Margin | -4.5% | 22.8% |
| Revenue YoY | -0.3% | 15.5% |
| Net Profit YoY | 22.2% | 56.8% |
| EPS (diluted) | $-0.90 | $1.56 |
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 | — | $324.0M | ||
| Q4 25 | $631.2M | $327.5M | ||
| Q3 25 | $631.8M | $340.4M | ||
| Q2 25 | $618.8M | $307.5M | ||
| Q1 25 | $613.3M | $280.5M | ||
| Q4 24 | $632.8M | $229.6M | ||
| Q3 24 | $655.9M | $125.3M | ||
| Q2 24 | $643.7M | $267.0M |
| Q1 26 | — | $73.8M | ||
| Q4 25 | $-28.3M | $100.7M | ||
| Q3 25 | $-16.3M | $105.2M | ||
| Q2 25 | $-12.6M | $77.3M | ||
| Q1 25 | $-50.6M | $47.0M | ||
| Q4 24 | $-36.4M | $71.0M | ||
| Q3 24 | $-73.4M | $-61.3M | ||
| Q2 24 | $-645.4M | $41.7M |
| Q1 26 | — | — | ||
| Q4 25 | -0.5% | 40.4% | ||
| Q3 25 | 2.4% | 40.5% | ||
| Q2 25 | 3.2% | 33.2% | ||
| Q1 25 | 0.8% | 21.6% | ||
| Q4 24 | 12.0% | 40.7% | ||
| Q3 24 | 3.5% | -63.8% | ||
| Q2 24 | -170.2% | 21.9% |
| Q1 26 | — | 22.8% | ||
| Q4 25 | -4.5% | 30.7% | ||
| Q3 25 | -2.6% | 30.9% | ||
| Q2 25 | -2.0% | 25.2% | ||
| Q1 25 | -8.3% | 16.8% | ||
| Q4 24 | -5.8% | 30.9% | ||
| Q3 24 | -11.2% | -48.9% | ||
| Q2 24 | -100.3% | 15.6% |
| Q1 26 | — | $1.56 | ||
| Q4 25 | $-0.90 | $2.11 | ||
| Q3 25 | $-0.52 | $2.18 | ||
| Q2 25 | $-0.41 | $1.58 | ||
| Q1 25 | $-1.68 | $0.92 | ||
| Q4 24 | $-1.69 | $1.43 | ||
| Q3 24 | $-2.66 | $-1.41 | ||
| Q2 24 | $-23.47 | $0.80 |
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 | — |
| Total DebtLower is stronger | $1.7B | $878.3M |
| Stockholders' EquityBook value | $113.3M | $3.6B |
| Total Assets | $2.7B | $33.5B |
| Debt / EquityLower = less leverage | 14.89× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $106.0M | — | ||
| Q3 25 | $140.4M | — | ||
| Q2 25 | $95.1M | — | ||
| Q1 25 | $116.3M | — | ||
| Q4 24 | $104.9M | — | ||
| Q3 24 | $136.6M | — | ||
| Q2 24 | $84.9M | — |
| Q1 26 | — | $878.3M | ||
| Q4 25 | $1.7B | $620.6M | ||
| Q3 25 | $1.7B | $620.4M | ||
| Q2 25 | — | $620.3M | ||
| Q1 25 | — | $660.5M | ||
| Q4 24 | — | $660.3M | ||
| Q3 24 | — | $660.2M | ||
| Q2 24 | — | $660.0M |
| Q1 26 | — | $3.6B | ||
| Q4 25 | $113.3M | $3.6B | ||
| Q3 25 | $139.8M | $3.6B | ||
| Q2 25 | $151.8M | $3.5B | ||
| Q1 25 | $154.6M | $3.4B | ||
| Q4 24 | $201.7M | $3.4B | ||
| Q3 24 | $226.1M | $3.4B | ||
| Q2 24 | $283.8M | $3.2B |
| Q1 26 | — | $33.5B | ||
| Q4 25 | $2.7B | $31.5B | ||
| Q3 25 | $2.8B | $32.5B | ||
| Q2 25 | $2.8B | $31.9B | ||
| Q1 25 | $2.8B | $31.4B | ||
| Q4 24 | $2.8B | $30.7B | ||
| Q3 24 | $3.1B | $31.6B | ||
| Q2 24 | $3.1B | $29.9B |
| Q1 26 | — | 0.24× | ||
| Q4 25 | 14.89× | 0.17× | ||
| Q3 25 | 12.05× | 0.17× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.20× | ||
| Q3 24 | — | 0.20× | ||
| Q2 24 | — | 0.21× |
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% |
TCBI
Segment breakdown not available.
