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Side-by-side financial comparison of FORWARD AIR CORP (FWRD) and UNISYS CORP (UIS). Click either name above to swap in a different company.
FORWARD AIR CORP is the larger business by last-quarter revenue ($631.2M vs $574.5M, roughly 1.1× UNISYS CORP). UNISYS CORP runs the higher net margin — 3.3% vs -4.5%, a 7.7% gap on every dollar of revenue. On growth, UNISYS CORP posted the faster year-over-year revenue change (5.3% vs -0.3%). Over the past eight quarters, UNISYS CORP's revenue compounded faster (8.5% 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.
Unisys Corporation is a technology company founded in 1986 and headquartered in Blue Bell, Pennsylvania. The company provides cloud, AI, digital workplace, logistics, and enterprise computing services.
FWRD vs UIS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $631.2M | $574.5M |
| Net Profit | $-28.3M | $18.7M |
| Gross Margin | — | 33.9% |
| Operating Margin | -0.5% | 13.3% |
| Net Margin | -4.5% | 3.3% |
| Revenue YoY | -0.3% | 5.3% |
| Net Profit YoY | 22.2% | -37.7% |
| EPS (diluted) | $-0.90 | $0.24 |
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 | $574.5M | ||
| Q3 25 | $631.8M | $460.2M | ||
| Q2 25 | $618.8M | $483.3M | ||
| Q1 25 | $613.3M | $432.1M | ||
| Q4 24 | $632.8M | $545.4M | ||
| Q3 24 | $655.9M | $497.0M | ||
| Q2 24 | $643.7M | $478.2M | ||
| Q1 24 | $541.8M | $487.8M |
| Q4 25 | $-28.3M | $18.7M | ||
| Q3 25 | $-16.3M | $-308.9M | ||
| Q2 25 | $-12.6M | $-20.1M | ||
| Q1 25 | $-50.6M | $-29.5M | ||
| Q4 24 | $-36.4M | $30.0M | ||
| Q3 24 | $-73.4M | $-61.9M | ||
| Q2 24 | $-645.4M | $-12.0M | ||
| Q1 24 | $-61.7M | $-149.5M |
| Q4 25 | — | 33.9% | ||
| Q3 25 | — | 25.5% | ||
| Q2 25 | — | 26.9% | ||
| Q1 25 | — | 24.9% | ||
| Q4 24 | — | 32.1% | ||
| Q3 24 | — | 29.2% | ||
| Q2 24 | — | 27.2% | ||
| Q1 24 | — | 27.9% |
| Q4 25 | -0.5% | 13.3% | ||
| Q3 25 | 2.4% | -7.3% | ||
| Q2 25 | 3.2% | 6.3% | ||
| Q1 25 | 0.8% | 1.2% | ||
| Q4 24 | 12.0% | 8.9% | ||
| Q3 24 | 3.5% | 1.5% | ||
| Q2 24 | -170.2% | 4.9% | ||
| Q1 24 | -12.1% | 3.6% |
| Q4 25 | -4.5% | 3.3% | ||
| Q3 25 | -2.6% | -67.1% | ||
| Q2 25 | -2.0% | -4.2% | ||
| Q1 25 | -8.3% | -6.8% | ||
| Q4 24 | -5.8% | 5.5% | ||
| Q3 24 | -11.2% | -12.5% | ||
| Q2 24 | -100.3% | -2.5% | ||
| Q1 24 | -11.4% | -30.6% |
| Q4 25 | $-0.90 | $0.24 | ||
| Q3 25 | $-0.52 | $-4.33 | ||
| Q2 25 | $-0.41 | $-0.28 | ||
| Q1 25 | $-1.68 | $-0.42 | ||
| Q4 24 | $-1.69 | $0.45 | ||
| Q3 24 | $-2.66 | $-0.89 | ||
| Q2 24 | $-23.47 | $-0.17 | ||
| Q1 24 | $-2.81 | $-2.18 |
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 | $413.9M |
| Total DebtLower is stronger | $1.7B | $729.0M |
| Stockholders' EquityBook value | $113.3M | $-282.6M |
| Total Assets | $2.7B | $1.8B |
| Debt / EquityLower = less leverage | 14.89× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $106.0M | $413.9M | ||
| Q3 25 | $140.4M | $321.9M | ||
| Q2 25 | $95.1M | $300.8M | ||
| Q1 25 | $116.3M | $393.1M | ||
| Q4 24 | $104.9M | $376.5M | ||
| Q3 24 | $136.6M | $373.7M | ||
| Q2 24 | $84.9M | $344.9M | ||
| Q1 24 | $152.0M | $382.8M |
| Q4 25 | $1.7B | $729.0M | ||
| Q3 25 | $1.7B | $723.2M | ||
| Q2 25 | — | $692.7M | ||
| Q1 25 | — | $488.3M | ||
| Q4 24 | — | $488.2M | ||
| Q3 24 | — | $488.5M | ||
| Q2 24 | — | $489.2M | ||
| Q1 24 | $1.7B | $488.4M |
| Q4 25 | $113.3M | $-282.6M | ||
| Q3 25 | $139.8M | $-300.2M | ||
| Q2 25 | $151.8M | $-221.5M | ||
| Q1 25 | $154.6M | $-267.8M | ||
| Q4 24 | $201.7M | $-283.4M | ||
| Q3 24 | $226.1M | $-202.2M | ||
| Q2 24 | $283.8M | $-174.1M | ||
| Q1 24 | $926.1M | $-158.6M |
| Q4 25 | $2.7B | $1.8B | ||
| Q3 25 | $2.8B | $1.7B | ||
| Q2 25 | $2.8B | $1.8B | ||
| Q1 25 | $2.8B | $1.8B | ||
| Q4 24 | $2.8B | $1.9B | ||
| Q3 24 | $3.1B | $1.9B | ||
| Q2 24 | $3.1B | $1.9B | ||
| Q1 24 | $4.0B | $1.9B |
| 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 | — | $104.9M |
| Free Cash FlowOCF − Capex | — | $97.3M |
| FCF MarginFCF / Revenue | — | 16.9% |
| Capex IntensityCapex / Revenue | 1.3% | 1.3% |
| Cash ConversionOCF / Net Profit | — | 5.61× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-170.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $104.9M | ||
| Q3 25 | $52.7M | $38.0M | ||
| Q2 25 | — | $-316.2M | ||
| Q1 25 | $27.6M | $33.3M | ||
| Q4 24 | $-23.2M | $76.6M | ||
| Q3 24 | $51.2M | $32.0M | ||
| Q2 24 | $-45.2M | $2.7M | ||
| Q1 24 | $-51.7M | $23.8M |
| Q4 25 | — | $97.3M | ||
| Q3 25 | $48.6M | $32.4M | ||
| Q2 25 | — | $-324.1M | ||
| Q1 25 | $15.7M | $24.4M | ||
| Q4 24 | $-30.5M | $66.5M | ||
| Q3 24 | $40.7M | $25.2M | ||
| Q2 24 | $-59.6M | $-6.0M | ||
| Q1 24 | $-56.7M | $17.1M |
| Q4 25 | — | 16.9% | ||
| Q3 25 | 7.7% | 7.0% | ||
| Q2 25 | — | -67.1% | ||
| Q1 25 | 2.6% | 5.6% | ||
| Q4 24 | -4.8% | 12.2% | ||
| Q3 24 | 6.2% | 5.1% | ||
| Q2 24 | -9.3% | -1.3% | ||
| Q1 24 | -10.5% | 3.5% |
| Q4 25 | 1.3% | 1.3% | ||
| Q3 25 | 0.7% | 1.2% | ||
| Q2 25 | 0.8% | 1.6% | ||
| Q1 25 | 1.9% | 2.1% | ||
| Q4 24 | 1.1% | 1.9% | ||
| Q3 24 | 1.6% | 1.4% | ||
| Q2 24 | 2.2% | 1.8% | ||
| Q1 24 | 0.9% | 1.4% |
| Q4 25 | — | 5.61× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.55× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
UIS
Segment breakdown not available.
