vs
Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and UDR, Inc. (UDR). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $425.8M, roughly 1.5× UDR, Inc.). UDR, Inc. runs the higher net margin — 44.6% vs -4.5%, a 49.1% gap on every dollar of revenue. On growth, UDR, Inc. posted the faster year-over-year revenue change (0.9% vs -0.3%). Over the past eight quarters, FORWARD AIR CORP's revenue compounded faster (7.9% CAGR vs 1.3%).
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.
UDR, Inc. is a leading U.S.-headquartered real estate investment trust specializing in owning, operating, and redeveloping high-quality multifamily residential apartment communities. It operates across major U.S. metropolitan markets, catering to a diverse tenant base including young professionals, families, and middle-to-high income households.
FWRD vs UDR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $425.8M |
| Net Profit | $-28.3M | $189.8M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | 54.0% |
| Net Margin | -4.5% | 44.6% |
| Revenue YoY | -0.3% | 0.9% |
| Net Profit YoY | 22.2% | 147.2% |
| EPS (diluted) | $-0.90 | $0.63 |
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 | — | $425.8M | ||
| Q4 25 | $631.2M | $433.1M | ||
| Q3 25 | $631.8M | $431.9M | ||
| Q2 25 | $618.8M | $425.4M | ||
| Q1 25 | $613.3M | $421.9M | ||
| Q4 24 | $632.8M | $422.7M | ||
| Q3 24 | $655.9M | $420.2M | ||
| Q2 24 | $643.7M | $415.3M |
| Q1 26 | — | $189.8M | ||
| Q4 25 | $-28.3M | $222.9M | ||
| Q3 25 | $-16.3M | $40.4M | ||
| Q2 25 | $-12.6M | $37.7M | ||
| Q1 25 | $-50.6M | $76.7M | ||
| Q4 24 | $-36.4M | $-5.0M | ||
| Q3 24 | $-73.4M | $22.6M | ||
| Q2 24 | $-645.4M | $28.9M |
| Q1 26 | — | 54.0% | ||
| Q4 25 | -0.5% | 64.1% | ||
| Q3 25 | 2.4% | 17.7% | ||
| Q2 25 | 3.2% | 18.2% | ||
| Q1 25 | 0.8% | 29.0% | ||
| Q4 24 | 12.0% | 15.7% | ||
| Q3 24 | 3.5% | 16.6% | ||
| Q2 24 | -170.2% | 16.5% |
| Q1 26 | — | 44.6% | ||
| Q4 25 | -4.5% | 51.5% | ||
| Q3 25 | -2.6% | 9.4% | ||
| Q2 25 | -2.0% | 8.9% | ||
| Q1 25 | -8.3% | 18.2% | ||
| Q4 24 | -5.8% | -220.5% | ||
| Q3 24 | -11.2% | 5.4% | ||
| Q2 24 | -100.3% | 7.0% |
| Q1 26 | — | $0.63 | ||
| Q4 25 | $-0.90 | $0.67 | ||
| Q3 25 | $-0.52 | $0.12 | ||
| Q2 25 | $-0.41 | $0.11 | ||
| Q1 25 | $-1.68 | $0.23 | ||
| Q4 24 | $-1.69 | $-0.01 | ||
| Q3 24 | $-2.66 | $0.06 | ||
| Q2 24 | $-23.47 | $0.08 |
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 | $1.3M |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $113.3M | $3.3B |
| Total Assets | $2.7B | $10.3B |
| Debt / EquityLower = less leverage | 14.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.3M | ||
| Q4 25 | $106.0M | $1.2M | ||
| Q3 25 | $140.4M | $1.2M | ||
| Q2 25 | $95.1M | $1.5M | ||
| Q1 25 | $116.3M | $1.3M | ||
| Q4 24 | $104.9M | $1.3M | ||
| Q3 24 | $136.6M | $2.3M | ||
| Q2 24 | $84.9M | $2.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $5.8B | ||
| Q3 25 | $1.7B | $5.8B | ||
| Q2 25 | — | $5.8B | ||
| Q1 25 | — | $5.8B | ||
| Q4 24 | — | $5.8B | ||
| Q3 24 | — | $5.9B | ||
| Q2 24 | — | $5.8B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $113.3M | $3.3B | ||
| Q3 25 | $139.8M | $3.3B | ||
| Q2 25 | $151.8M | $3.3B | ||
| Q1 25 | $154.6M | $3.3B | ||
| Q4 24 | $201.7M | $3.4B | ||
| Q3 24 | $226.1M | $3.5B | ||
| Q2 24 | $283.8M | $3.7B |
| Q1 26 | — | $10.3B | ||
| Q4 25 | $2.7B | $10.6B | ||
| Q3 25 | $2.8B | $10.6B | ||
| Q2 25 | $2.8B | $10.6B | ||
| Q1 25 | $2.8B | $10.7B | ||
| Q4 24 | $2.8B | $10.9B | ||
| Q3 24 | $3.1B | $11.1B | ||
| Q2 24 | $3.1B | $11.1B |
| Q1 26 | — | — | ||
| Q4 25 | 14.89× | 1.77× | ||
| Q3 25 | 12.05× | 1.78× | ||
| Q2 25 | — | 1.74× | ||
| Q1 25 | — | 1.74× | ||
| Q4 24 | — | 1.69× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 1.55× |
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% |
UDR
| Rental income | $423.3M | 99% |
| Joint venture management and other fees | $2.5M | 1% |
